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Insurance adjuster exam 2025 Questions and Answers How can insurance companies afford to pay for an individual's catastrophic loss? --Answer --The insurer collects premiums from all policyholders and pools to pay the claims of the few purpose of principle of indemnity - --Answer --to prevent the insured from profiting from the loss What is the reserve in insurance term? - --Answer --A pool of collected premiums that the insurers sets aside to pay claims Mark incurred $8,000 damage to his car in an accident. He received $8,000 from his insurance company and $4,000 from the other driver. By receiving a profit from the loss, Mark could be in violation of: - --Answer --the principle of indemnity which of the following best describes insurance? - --Answer --An economic device used to protect against the risk of unforeseen and extraordinary financial loss ....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1