Hi, As per chapter 2, page 2: "Ideally risk events also need to meet the following criteria if they are to be insurable: ● Individual risk events should be independent of each other." I have a doubt. Is risk events here mean different perils or different insured property? Please guide. Regards, Ashok
Hi Ashok By risk events here we mean different insured risks, so for property insurance this would mean different properties. This isn't of course always possible (eg adjacent properties would have a similar exposure to earthquakes).