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What is the primary purpose of loss reserves in the insurance industry?a)To generate profit for insurance companies.b)To estimate an insurer's liability for future claims.c)To regulate premium rates for policyholders.d)To provide immediate compensation to policyholders.Correct answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary purpose of loss reserves in the insurance industry?a)To generate profit for insurance companies.b)To estimate an insurer's liability for future claims.c)To regulate premium rates for policyholders.d)To provide immediate compensation to policyholders.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary purpose of loss reserves in the insurance industry?a)To generate profit for insurance companies.b)To estimate an insurer's liability for future claims.c)To regulate premium rates for policyholders.d)To provide immediate compensation to policyholders.Correct answer is option 'B'. Can you explain this answer?.

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