The Nature of Insurance

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Across
  1. 3. Restore insured to the same financial position before the loss
  2. 4. Conditions increasing loss likelihood
  3. 7. Risk method to decrease loss likelihood/severity
  4. 9. Focus on homogeneous exposure units
  5. 12. Risk method to eliminate loss potential
  6. 13. Hazards that are tangible/observable conditions
  7. 14. Risk method to spread among multiple parties
Down
  1. 1. Hazards that involve dishonesty/intentional acts
  2. 2. Risk method to eliminate risk-causing activity
  3. 5. Risk that is not insurable, ex. investments
  4. 6. Risk method to move risk to another party (insurance)
  5. 8. Unintentional decrease in value
  6. 9. Risk method to keep risk (deductibles, self-insurance)
  7. 10. Risk that is insurable/no chance of gain
  8. 11. Cause of loss