Insurance is possible because of the law of large numbers, which means Group of answer choices insurers can adequately predict the losses incurred by an individual, but are unable to predict the losses for large numbers of individuals. events that are unpredictable for a large number of individuals become predictable for an individual. insurers can predict whether an individual will suffer a loss better than they can predict whether a large number of individuals will suffer losses. events that are unpredictable for an individual become predictable for a large number of individuals.
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