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You have a friend, Ben Smith, who just started a small business. He is paying a hefty premium for insurance. Ben’s insurance agent told him that he is insuring against the risk of loss on fire, theft, liability, and business interruption. Ben also has policies for life, health, and automobiles. Ben is planning a trip to Las Vegas . He plans to contact his agent and obtain a policy on the risk of losing his money at the blackjack table.
What will you tell Ben about being able to purchase such a policy?
What are several methods that Ben can choose to manage his risk exposure in Las Vegas?
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