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(i) The insured risk must not be catastrophic like earthquakes.
(ii) The insured must suffer a financial loss as rules of risk occurrence.
(iii) The occurrence of the loss must be accidental.
(iv) It should be possible for the insurance company to calculate the loss occurred.
(v) There must be a large number of similar risks of related nature.
maurice.mutuku answered the question on August 17, 2017 at 06:09
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