Notes

  1. 1. Bulletin of the Commission on Insurance Terminology of the American Risk and Insurance Association, October 1965.

  2. 2. Robert I. Mehr and Sandra G. Gustavson, Life Insurance: Theory and Practice, 4th ed. (Plano, TX: Business Publications, 1987), p. 31.

  3. 3. Robert I. Mehr, Fundamentals of Insurance, 2nd ed. (Homewood, IL: Richard D. Irwin, 1986), p. 43.

  4. 4. Market risks include the risks of adverse price changes in raw materials, general price-level changes (inflation), changes in consumer tastes, new technology, and increased competition from competitors. Financial risks include the risks of adverse price changes in the price of securities, adverse changes in interest rates, and the inability to borrow on favorable terms. Production ...

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