ago in Finance by (36.1k points)

Question: The __________ discovered by Jakob Bernoulls around 1700 forms the basis of modern insurance.

Options:

  1.  Law of insurance
  2.  Law of large numbers
  3.  Law of modern insurance.
  4.  None of these

Please log in or register to answer this question.

1 Answer

0 votes
ago by (82.0k points)
selected ago by
 
Best answer

2. Law of large numbers

The Law of large numbers discovered by Jakob Bernoulls around 1700 forms the basis of modern insurance.


More information:

The law of large numbers was discovered by Jakob Bernoulls about 1700 years. It formed the basis of modern insurance.

Insurance providers considered their clients as a large group to predict future risks and losses. The larger the group, the closer the average loss will approach a definite value.

Related questions

...