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UNIT 2 FINAL ACCOUNTS OF INSURANCE COMPANY MEANING: In business, there are risks and uncertainties of human beings may suffer losses through accidents, fire, floods, earth quakes and other natural calamities. To protect themselves from these losses and risks, people may take a policy from the insurance company. DEFINITION: According to Justice Tindle, “Insurance is a contract through which the insurer agrees to pay a stipulated amount to the insured on the occurrence of an eventuality in lieu of a sum of premium. INSURER: The p

FINAL ACCOUNTS OF INSURANCE COMPANY

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