Insurance discussion

Please answer the following 3 questions using chapters 1-3 which are attached to cite as references in apa format. This is due tomorrow.

Principles of Risk and Insurance

In your initial response to the topic you have to answer all questions.

1. Discuss the difference between stock and mutual companies, reciprocal exchanges, and Lloyds associations.

2. Discuss the concept of indemnity as it applies to insurance.

3. When should risk be retained, and when should it be insured against?