Explain the financial definition and the legal definition of "insurance."
What will be an ideal response?
Financially, insurance is an arrangement which redistributes the cost of a few losses among many who contribute to a pool. Legally, insurance is a contractual arrangement where one party agrees to indemnify another if a loss occurs.
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Evaluating a bad-news message ________
A) is a good idea, but not vital B) involves only the typical evaluating questions that should be used to evaluate any type of message C) is less important than it is for other types of messages, as there is nothing you can do to alter the fact that your audience won't be receptive to bad news D) should include determining if the message communicates a sense of goodwill to the audience and whether it will achieve a good business result E) should only be done if there is time to spare, since bad-news messages are often very time sensitive
Which of the following best describes the closed shop form of union security?
A) A company can hire nonunion people if they agree to join the union. B) Union members receive higher wages than nonunion employees. C) Union members receive preferential treatment in hiring. D) A company can hire only union members.