What Does Law of Large Numbers Mean?

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What does Law of Large Numbers mean? Read on to discover the definition & meaning of the term Law of Large Numbers - to help you better understand the language used in insurance policies.

Law of Large Numbers

Law of Large Numbers

Basic principle of insurance that the larger the number of individual risks combined into a group, the more certainty there is in predicting the degree or amount of loss that will be incurred in any given period.

We hope the you have a better understanding of the meaning of Law of Large Numbers.

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