Where do insurance companies get the money to pay for losses suffered by their customers?

Answers

Answer 1

Answer:

Through the Insured premium paid

Explanation:

Insurance is a form of contract where the insureds are indemnified by the insurer against potential future losses.

The primary way through which insurance  generate money is through the premium , which is the amount of money that is periodically contributed by the policy holders. This premium is thereafter re-invested into other profit generating investment portfolio.

It is from this that the insurances pull out money for compensation for losses suffered by their customers whenever there is one.


Related Questions

What is the definition of hangry my friend keeps saying it but i dont understand

Answers

Answer:

hangry is when you feel hungry and angry at the same time

Explanation:

basically, your angry because of the fact that your hungry

You can best show a business your interest in their job position through:
A.)social media
b.) an application
c.) a resume
d.) a cover letter

Answers

Answer:

d.) a cover letter

Explanation:

The best way to show a company/business your interest in the job position is through the cover letter. This is a letter that goes in front of your resume when applying for a job and is where the applicant usually explains who they are and why they want the job. This cover letter is the first thing that the employer will see and should tell them why you want the job and why you are the best choice for that job in order to convince them into interviewing or hiring you.

Study the entries in Lupe's records and bank statement. What is the first action Lupe should take when she discovers a difference between her records and the bank's records?

Answers

Answer: A

She should check her own records to see if she made a mistake.

Explanation:

She should check her own records to see if she made a mistake is the first action Lupe should take when she discovers a difference between her records and the bank's records. Hence, option A is correct.

What is bank's records?

Account statements, signature cards, account applications, wire transfers, and any other DOCUMENT attesting to deposits, withdrawals, balances, and/or other account activity are all considered to be bank records.

If you use Online Banking, you can log in, choose Statements & Documents from the Accounts menu, then pick Order a paper statement copy from the Request statements tab. After you submit your request, paper statements will be mailed to you within 7 to 10 business days.

Any person who employs a financial institution's services, Any person for whom the financial institution serves as a fiduciary; and Corporations or partnerships with five or fewer partners.

Thus, option A is correct.

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The options are attached in the picture-

2. Lessack Auctioneers advertised an auction sale that was open to the public and was to be conducted with a reserve price of $150. Gordon attended the auction and bid $100 for a work of art that was worth much more. No higher bid, however, was made. Lessack refused to sell the item for $100 and withdrew the item from the sale. Gordon claimed that because he was the highest bidder, Lessack was required to sell the item to him. Was he correct? Explain

Answers

Answer:

No

Explanation:

There was a reserve on the item which means the seller refuses to sell for a price lower then a certain price.

No, Gordon's claim is not correct because if the reserve price is not met, the seller is under no obligation to sell the item to the highest bidder. As a result, some buyers dislike reserve prices because they encourage bids that may not be successful.

What are the advantages of an auction?

Through competitive bidding, an auction generates fair market value, allowing you, the buyer, to make an informed purchasing decision with a seller who is eager to sell. The market value is determined by buyers. Auctions allow for a quick purchase and eliminate the need for lengthy negotiations.

If a minimum bid is not met by any of the bids present at an auction, the auctioneer may 'pass in the property, which means that it has not sold. If this occurs, the winning bidder is usually decided to invite to start negotiating with the seller to see if the sale can still be completed.

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Analyse the implications to Mr Flake’s business if: In May and June Mr Flake fell ill and he had to pay somebody else £1200 a month to run the business as well as himself? Answer: He received 6 more party bookings for September?

Answers

Answer:

1. Paying somebody else and himself represent cash outflow.

2. Party bookings represents forecasted cash inflow.

Explanation:

Remember, a cash flow shows where money is coming from into the accounts of a business and where money goes to from the accounts of the business. Inflows represent credit transactions into the business account, while the outflows represents debit transactions to external sources.

Thus, paying somebody else £1200 a month to run the business as well as himself (Mr Flake) both represents outflow of cash from his ice-cream business. But the 6 more party bookings for September represents cash inflows since he will be receiving a pay from the clients.

Taxes are often ovved on?
initial investments,
the current value of investments.
the real value of investments,
investment returns.

Answers

Answer:

Investment returns

Explanation:

Tax is a compulsory levy imposed by the government on an individual, firms etc for the provision of infrastructure.

Generally speaking, taxes are paid as soon as money is earned. While some taxes are due for payment when investments are sold at a profit, others like dividend , mutual funds are due when distribution is paid on the investment.

The ratio of gain or losses on an investment is referred to as investment returns. The returns could be higher which means profit hence must be taxed. It could also be the other way round,i.e lower returns . In such situation, loss is incurred on the investment and it is not taxed same way as having profit on the investment.

D. investment returns.

When Coca-Cola purchased first a part and then all of Honest Tea, what would have been appropriate ways to help this change be successful? Select all that apply. A: To the extent that Honest Tea began using Coca-Cola's payroll and expense reimbursement systems, train employees on these systems. B: Conduct team-building exercises to help groups of employees from Coca-Cola and Honest Tea communicate effectively and address conflict. C: Survey Honest Tea employees to identify sources of anxiety and conflict related to the acquisition. D: Use a change agent to freeze Honest Tea's very successful culture before Coca-Cola could have any impact.

Answers

Answer:

The most applicable choices in the order of importance are

C, B then A. Of course, they have to be applied at various stages of the acquisition.

Explanation:

C should have occurred (if possible) before the acquisition. Usually, when there is a major acquisition such as the one described above, it comes with good and bad tidings.

In some cases, especially one involving a large and efficient system like Coca-Cola, many positions become redundant.

In other cases, people are worried if their compensation will be affected. There are usually questions such as:

Will my compensation be reviewed upwards or, downwards?Will my insurance or 401K be affected adversely? e.t.c.

Thus, executing a survey of Honest Teas' employees to identify such sources of anxiety and conflict related to the acquisition with the goal to address them constructively, will help the change to be successful.

Option B is one strategy that ought to have been executed upon the conclusion and official announcement of the acquisition exercise. This is the most crucial and maybe the most important part of the acquisition/takeover process.

This is true especially if there is going to be changes in management,  communication styles, and the culture.  Other benefits of team building excercises are, it increases and or improves:

ProductivityMoraleStaff Motivation andCommunication all of which are critical to the success of any organisation.

Option C: On the balance of probability, it is expected that when a bigger company like Coca-Cola acquires a smaller one, the process comes with a lot of benefits. One of such benefits is the payroll upgrade.

After all is said and done, it will serve to boost the motivation and morale of the staff if Honest Tea began to use Coca-Cola's payroll which is likely to be more robust.

Because Cocal-cola is an older, more experience and more global company, it is more likely to have more efficient reimbursement systems. If these are inculcated into the Honest Tea process, with adequate training on how to use it, it will also serve to ensure homogeneity of systems and operations which is critical to the success of an acquisition.

Cheers!

ANSWER ASAPP. Changes in monetary policy occur when the Federal Reserve 1.adjusts business laws to affect the money supply. 2.changes taxation levels to affect the economy. 3.changes spending levels to affect the economy. 4.adjusts interest rates to affect the money supply.

Answers

Answer:

D

Explanation:

In the economic system, the monetary policies of the government are implemented through the banks.

Adjusting the rate of interest can only be done by the Federal Reserve.

All other options are under government fiscal policy.

Changes in monetary policy occur when the Federal Reserve adjusts interest rates to affect the money supply.

What is monetary policy?

Monetary policy are the policy steps taken by the Federal Reserve (the Central Bank) to affect the level of money supply. The way by which the Federal reserve can affect money supply is either through changing the interest rate or undertaking open market operations.

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Tucker works for a retail distributor company that was recently started. Tucker already invested a lot of his earnings into shares of the company. When the quarterly earnings are posted, Tucker receives a check for 8% of the quarterly profit of the company. Tucker belongs to a _________ Corporation.
A. Professional
B. Closely-Held
C. Sub chapter S

Answers

Closely- Held I think

Construction of new homes decreases. This will cause the demand curve to shift ___________ for complimentary goods used to build the homes such as timber.

Answers

Answer:

to the left

Explanation:

When the construction of new homes decreases, the demand curve for complimentary goods used to build homes shift to the left as a result of a decrease in their demands.

The demand curve is a graph that shows the demand for a product in relation to the price of the product at a specific point in time. When the demand for a product increases, the curve shifts to the right, and when it decreases, the curve shifts to the left.

Complementary goods are goods that are required in conjunction with other goods or services. For example, timbers are required for buildings, hence, they timbers serve as complementary goods to buildings.

When the construction of new homes decreases, it means there will be less demands for timbers and as such, the demand curve will shift to the left.

Ayayai Corp. bought equipment on January
1, 2017. The equipment cost $470000 and
had an expected salvage value of $70000.
The life of the equipment was estimated to
be 6 years. The depreciable cost of the
equipment is

Answers

Answer:

The depreciable cost of the equipment is $400,000

Explanation:

In this question, we are tasked with calculating the depreciable cost of the equipment bought

To calculate this, we simply engage the use of a mathematical relation

Mathematically;

Depreciable cost = Original Cost - Salvage value

From the question, the original cost is $470,000

The salvage value = $70,000

Inputing these values into the equation, we have

Depreciable cost = $470,000 -$70,000 = $400,000

Carmax is a national chain that sells used cars. the likely impact of its arrival in the market would be to _____. everything else held constant, this would likely _____ the price of used cars.

Answers

Answer:

1. shift the supply of used cars to the right

2. lower

Explanation:

1. With carmax's arrival in the market this has caused the number of sellers to increase thereby shifting the supply curve to the right. An increase in the number of sellers increases the quantity supplied at each price.

2. Since the supply of used cars have increased and demand remains the same, there will be a surplus in the market for used cars resulting in lowered prices of used cars.

The colonial government never made any sincere attempt to estimate India's National and per capita income. However some individual attempts were made to measure such incomes. Which among those individual attempts of estimates of national income and per capita income was considered very significant?

Answers

The correct answer to this open question is the following.

Among those individual attempts of estimates of national income and per capita income that were considered very significant to estimate India's National and per capita income in the colonial government, are the following.

Those important individual attempts belong to people like William Digby, Findlay Shirras, Dadabhai Naoroji, R.C. Desai, and VKVR Rao. From the British perspective, there was no real interest in the measurement of this economic indicator because what was important for the British government was to fulfill its economic and political interests such as the exploitation of natural resources and raw materials that were sent to England to be transformed in the fabrics and industries of London. The development or growth of India was never a goal.

Do u think that the production employees should recieve the same fringe benefits and share of profits as a factory manager? Justify ur answer.pls

Answers

Answer:

No

Explanation:

Production employees don't do half as much work as the Factory manager

Laura’s husband died in a car accident. When she turns 67, she will receive her husband’s __1___. Her children will also receive the same until they ___2___ .
1. 401k account
social security benefits
certificate of deposit
2. gradute from high school
retire
become employed
this is on plato
i will give brainliest

Answers

Answer:

1. social security benefit

2.retire

Question 6 of 10
3 Points
A body of the letter is composed of the:​

Answers

Answer:

Introduction

The body of the letter is usually divided into the three paragraphs (one is the introduction, then supporting details, then conclusion of topic).


A video game system is on sale for 25% off its original price. If the original price is $200, how much money will be saved?​

Answers

Answer:

$50

Explanation:

25% = 1/4

200 / 4 = 50

50*3=150, which is 25% off.

"Creditors do not actually have to worry about their dues in case the business fails." In which form of business is this possible? Which special feature is highlighted in this statement ?

Answers

Answer:

sole proprietorship.

Explanation:

An exclusive property can be defined as a business structure that is managed and owned by a single person, so there is no legal distinction between the owner and his company. This is a type of simple business structure, and is generally used by people who are starting some kind of enterprise.

Therefore, this is the most appropriate business form for the statement of the issue, since in this structure there is only a single owner in the company, which guarantees its sole responsibility for all profits, debts and losses inherent to the business.

Both the Onus ferry operator in the monopoly market and each of the Yuri ferry operators in the perfectly competitive market will want to produce at the point that the marginal revenue is equal to the marginal cost. Explain in detail the two reasons that the monopoly’s marginal revenue will always be less than its price while the marginal revenue in the perfectly competitive market will always be equal to the market price.

Answers

Answer:

The overview of the given statement is described in the explanation segment below.

Explanation:

Monopoly Market:

The demand curve or market price towards the firm was indeed sloping downhill. MR is also below P and AR. Therefore, when earnings are maximized, whereby MR = MC has been used. Price is therefore above MR (Marginal Revenue).

Perfectly Competitive Market:

The  price shall be calculated whenever market forces are equivalent. The firm seems to be the fixed price and therefore the individual company market price becomes horizontal.

Thus,

⇒  [tex]AR=P =MR[/tex]

Hence,

⇒  [tex]P = MR[/tex]

Blake eats two bags of potato chips each day. Blake's hourly wage increases from $8 to $15, and he decides to stop eating generic chips and instead eats a name brand potato chip. Use the midpoint method to calculate Blake's income elasticity of demand for generic potato chips Round your answer to 2 decimal places.The good isa. a normal good and income-elasticb. a normal good and income-inelasticc. an inferior good

Answers

Answer:

The correct answer is option (c) good is an inferior good.

Explanation:

Solution

Given that:

Blake's hourly wage increases form  = $8 to $15

Now,

By using the midpoint method we compute Blake's income elasticity of demand for generic potato chips which is given below:

Income elasticity of demand =(Y₁ +Y₂)/(Q₁+Q₂) * (Q₂-Q₁)/ (Y₁ - Y₂)

Thus,

Y₁ =8

Y₂ = 15

Q₁ = 2

Q₂ = 0

So,

Income Ed =23/2x - 2/7

= -46/14

=- 3.28

Therefore, the increase in income decreases demand of generic potato chips. this shows negative income effect which implies that good is inferior in nature.

Answer:

Price elasticity= 2.875

The good is an inferior good

Explanation:

Elasticity of demand is defined as the sensitivity of quantity demanded to changes in price of a particular commodity.

Midpoint method is used to determine elasticity between two prices. Change in quantity and price are divided by the average of each.

Price elasticity= {Q1 ÷ (Q2 + Q1)/2} ÷ {P1 ÷ (P1 + P2)/2}

Average quantity = (2 + 0) ÷ 2= 1

Average price= (8 + 15) ÷ 2 = $11.5

Price elasticity= (2 ÷ 1) ÷ (8 ÷ 11.5)

Price elasticity= 2 ÷ 0.6957 = 2.875

The good is an inferior good

An inferior good is one that demand falls as income of the buyer increases.

In this case an increase in income from $8 to $15 resulted in a fall in demand from 2 to 0

JohnBoy Industries has a cash balance of $54,000, accounts payable of $134,000, inventory of $184,000, accounts receivable of $219,000, notes payable of $129,000, and accrued wages and taxes of $41,500. How much net working capital does the firm need to fund?

Answers

Answer:Net working capital = $152,500

Explanation:

Net working capital = CA– CL

Where CA= Current Assets = Cash + Inventory + Accounts Receivable

and CL= Current Liabilities= Account payable + Notes payable + accrued wages and taxes

CA=$54, 000 + $184,000 + $ 219,000 =$457,000

Current liabilities = Account payable + Notes payable + accrued wages and taxes

CL = $134,000 + $129,000 + $41,500 = $304,500

Net working capital = Current assets – Current liabilities

Net working capital = $457,000 – $304,500=  $152,500

Net working capital = $152,500

A large company issues stock. The company selling the stock often distributes profits by issuing to its shareholders.

Answers

Answer:

Following are the answer to this question:

Explanation:

It is an Act, in which an individual disposes or sells equity shares. Any reasons for selling stocks involve income, reducing losses, or access to money. There is indeed a big corporation of blue-chip stocks. In the stock marketing firm commonly allocates profits towards its stockholders whilst also releasing dividend payments.A major, well known, and financially sound company, which is in business for many years is a blue-chip stock.

Answer:

The answers are - blue chips and dividends.

Explanation:

   

.WHAT ARE THE MERITS AND DEMERITS OF MNC

Answers

Explanation:

Merits

1. it has created a competition through which large varieties of a single goods is available in the market.

2. for the home country, it has lessens the dependence on import and lead to economic development by providing new jobs opportunity .

Demerits

1. in some host Nation, the appearance of MNC can regulate competition and main event create a monopoly .

2. workers in the MNCs are paid on an irregular bases and they are often laid off without any payment during the time of recession .

Forrester Company is considering buying new equipment that would increase monthly fixed costs from $120,000 to $150,000 and would decrease the current variable costs of $70 by $10 per unit. The selling price of $100 is not expected to change. Forrester's current break-even sales are $400,000 and current break-even units are 4,000. If Forrester purchases this new equipment, the revised break-even point in dollars would be: $300,000. $400,000. $325,000. $500,000. $375,000.

Answers

Answer: $375,000

Explanation:

Given the following :

Selling price = $100

New variable cost per unit =$(70 - 10) = $60

New fixed cost = $150,000

Break-even point in dollars:

Fixed costs/Contribution margin ratio

contribution Margin Ratio

[(selling price per unit - total variable cost per unit) /selling price per unit]

= [($100 - $60) / $100]

$40 / $100 = 0.4 = 40%

Break-even point in dollars:

$150,000 / 0.4 = $375,000

an increase in the velocity of money will lead to​

Answers

Answer: an increase in money supply increases aggregate demand, which increases prices

Explanation: Hence, a very high inflation rate will also maximize the velocity of money, which will increase the inflation rate even further.

Money circulates more quickly when velocity of money increases  , which indicates that there are more transactions between people. The degree of inflation is high when the velocity is high.

What is inflation?

The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms,  the general rise in prices or the rise in a nation's cost of living.

Demand-pull inflation, cost-push inflation, and built-in inflation are the three basic sources of inflation.

Demand-pull inflation describes circumstances in which there is not enough production of goods or services to meet demand, leading to an increase in their prices.

On the other side, cost-push inflation happens when firms are compelled to raise prices as a result of rising costs associated with producing goods and services.

When workers seek greater pay to keep up with rising living costs, built-in inflation—also known as a wage-price spiral—occurs. A self-reinforcing cycle of salary and price rises results from businesses increasing their pricing to cover their rising wage costs.

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The Hawkins Supply company is currently faced with an inventory rotation problem. This difficulty stems from the fact that some supplies must be used prior to a stated expiration date. Upon receipt, a new shipment of these perishable items must be stacked beneath the boxes that are currently in inventory. A substantial amount of time is consumed in restacking the items according to their expiration dates.

Answers

Here's the completed question.

Question: The company would like to reduce the double and sometimes triple handling of items. How can this goal be achieved? Are there alternative solutions which might also be effective?

Answer:

1. Using the Just in Time Management inventory technique.

2. Using automated inventory processing systems, changing physical layout of warehouse.

Explanation:

1. The Just in time method would allow Hawkins Supply company to quickly process its inventory by adopting a principle of processing smaller batches with reduced factory space. Doing so would minimise the worries about expired inventory since the inventory isn't excessive.

2. There are automated softwares such as the KANBAN system that would automated the process, requiring lesser use receipts to track inventories. Another alternative is to restructure the warehouse by making provision for racks that could be numbered serially to easily find desired inventory.

Why are ethics important in the workplace?

Answers

Answer:

Ethics is important in a workplace because :

a) It creates a positive and safe work environment.

b) It helps to instill professional behavior in employees

c) It helps to maintain orderliness in an organization and prevents chaos from happening.

d) It prevents discrimination or favouritism in organizations.

e) Workplace Ethics ensures that all employees are treated fairly.

f) Workplace Ethics improves the relationships of employees with one another and this lead to the development of team work amongst employees.

Explanation:

Ethics at a workplace or Workplace Ethics can be defined as the standards or regulations that are put in place by a firm or organisation that helps to guide the behavior or attitude of employees at work such that safe work ambience is created and employees relate in a professional manner to one another.

Examples of Workplace Ethics are:

a) Punctuality

b) Honesty

c) Loyalty

d) Productivity

e) Dependability

Ethics at the workplace in important because:

a) It creates a positive and safe work environment.

b) It helps to instill professional behavior in employees

c) It helps to maintain orderliness in an organization and prevents chaos from happening.

d) It prevents discrimination or favouritism in organizations.

e) Workplace Ethics ensures that all employees are treated fairly.

f) Workplace Ethics improves the relationships of employees with one another and this lead to the development of team work amongst employees.

Answer: professional organizations

Explanation: took the test (:

Define Red Gross Society.​

Answers

Answer: The Indian Red Cross Society is a voluntary humanitarian organization to protect human life and health based in India.

Explanation: It is part of the International Red Cross and Red Crescent Movement, and so shares the Fundamental Principles of the International Red Cross and Red Crescent Movement.

You run a game-day shuttle service for parking services for the local ball club. Your total costs for different customer loads are 0: $27, 1: $30, 2: $32, 3: $35, 4: $38, 5: $42, 6: $48, 7: $57, and 8: $68. a. For each customer load level beginning with 1, what is your average total cost? b. For each customer load level beginning with 1, what is your marginal cost? c. If you are compensated $9 per ride, what customer load would you want?

Answers

Answer and Explanation:

a and b. The average total cost and the marginal cost is shown below:

As we know that

Average cost is

= Total cost ÷ total number of customer loads

And, the Marginal cost is

= Additional total cost incurred for extra units generated

So based on this, the marginal cost and the average total cost are as follows

Customer load level   Total cost  Average cost   Marginal cost

     0                               $27

     1                                 $30          $30 ÷ 1 = 30        30 - 27 = 3

    2                                 $32          $32 ÷ 2 = 16        32 - 30 = 2

    3                                 $35        $35 ÷ 3 = 11.67     35 - 32 = 3

    4                                  $38        $38 ÷ 4 = 9.5       38 - 35 = 3

    5                                  $42       $42 ÷ 5 = 8.4       42 - 38 = 4

    6                                  $48       $48 ÷ 6 = 8          48 - 42 = 6

    7                                  $57        $57 ÷ 7 = 8.14      57 - 48 = 9

    8                                  $68       $68 ÷ 8 = 8.5      68 - 57 = 11

c. Now the customer loan you want is

As we know that

Profit = Marginal revenue - marginal cost

And, as we can see that at marginal cost 9 we can load 7 customers so the 7 customers would be wanted

Which of the following is an example of promotion?
A The quality of a product
B. The price of a product
C. An advertisement
D. An employee who works for your company

Answers

Answer:

A. An advertisement

Explanation:

Answer:

it is c

Explanation:

on edg 2021

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