This is the second lesson of actuarial techniques. This part also discuss another terms of Basic Insurance Terms. if you don’t read first parts of this lesson. you can learn by using following link. Estimated Ultimate Losses Ultimate loss is the amount of money required to close and settle all claims for a defined group…
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Daham Pasal ExamDharmacharya examE ThaksalawaPrinciple of Utmost Good Faith The principle of utmost good faith is a basic and first primary principle of insurance. According to this principle, the insurance contract must be signed by the both parties (insurer and insured) in an absolute good faith, belief or trust and both parties should a good faith towards each other….
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