a.Private insurers provide social and economic benefits to society. Explain the following benefits of insur- ance...

a.Private insurers provide social and economic benefits to society. Explain the following benefits of insur- ance to society. (1) Indemnification for loss (2) Enhancement of credit (3) Source of funds for capital accumulation b. Explain the major costs of insurance to society

Expert Solution

1. A. indemnification of loss is one of the benefits which are provided by insurance to the society as private insurance will be indemnified for various kinds of loss by providing the societal members with insurance and transferring their risk on to themselves so private insurance will be bearing the cost in case of any adverse event which was insured

B. Enhancement of credit will be also so done by the private insurance as they will be encouraging a culture of more credit and they will also make the credit availability 4 various sections of society

C. private insurance are also a mode of investment for various individuals and they are providing with various Mutual Funds are they are also providing with proper opportunities for investment into their own stock

2. Major cost of insurance to the society will be including the land and labour along with the human capital which is provided by society to insurance player and it will also be providing these private insurance player with many other of the resources and other information technologies, so, private insurance are always leveraging upon various resources of the society.

jeff jeffy answered 1 year ago

Provide two examples of social institutions that are prevalent in American society and explain their functions.

Privateinsurersprovidesocialandeconomicbenefits to society. Explain the following benefits of insur- ance to society. (1) Indemnification for loss...

Privateinsurersprovidesocialandeconomicbenefits to society. Explain the following benefits of insur- ance to society. (1) Indemnification for loss (2) Enhancement of credit (3) Source of funds for capital accumulation --------------- Please Solve As soon as Solve quickly I get you thumbs up directly Thank's Abdul-Rahim Taysir

Provide two economic benefits of securitization. For each, explain why a person or an organization is...

Provide two economic benefits of securitization. For each, explain why a person or an organization is better off with securitization and why the same outcome can not be achieved without securitization. Mention one adverse consequence of securitization.

What are the benefits of society being more educated about the social determinants of health?

What are the economic and social benefits of educating girls? Describe some of the political and...

What are the economic and social benefits of educating girls? Describe some of the political and social trade-offs that might occur when a less developed country adopts a strategy to promote labor force participation and economic growth via investment in girls’ education.

explain how social isolation can impact on individuals in society

Define social capital and explain its importance in modern society?

Thoroughly explain how insurance provides benefits to individuals, organizations and society?

Discuss the implications of economic growth (Marginal benefits AND Marginal Costs) for the U.S. economy, society, environment,...

Discuss the implications of economic growth (Marginal benefits AND Marginal Costs) for the U.S. economy, society, environment, children's future, social programs, military might, global preeminence, technological growth, educational opportunities, etc. Think about what life would be like in the United States with very high, average, or very low rates of economic growth, as food for thought.

Critically evaluate the economic and social costs and benefits associated with an increase in unemployment insurance.

Question