IF1
what is risk seeking
willing to carry certain risks
what does it me if an insurer is risk averse?
they are minimising the risks they are exposed too
what is particular risks
localised or personal cause and effect
what is a fundamental risk
risk rising from a cause out of anyones control
what is homogeneous exposures?
large number of exposures to similar risks. helps insurers predict frequency and likely extent of losses
what is a composite company
they accept several types of business
what is a specialist insurer
they expertise in one niche area