... statement should be made in order to come to a more accurate and better specified result. The problem statement was defined as follows: "What is the best insurance structure and policy for NGC" This problem was tackled by using the up-to-date data from NGC's property insurance and simulating the different possibilities of calamities that could occur. The other three main questions, which are stated are as follows: 1. The cost of insurance 2. The expected self-insured losses 3. Expected total cost of risk 4. The probability of risk exceeding $2.5 Million Available Data Data used for the research was provided by NGC, and was the most up-to-date data which could be gathered. This data focused on the different natural occurrences, which caused property damage, and the different amounts of damage these occurrences caused. The most important numbers that are of fundamental importance to the analysis will be mentioned in this part of ...

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