You have been appointed as a Senior Advisor on Insurance Regulations and Environment by Cool Investors who are venturing into insurance and seeking to obtain a license to operate in the Ghanaian Market. The Managing Director is relying on you to understand basic insurance principles in preparation for a discussion with potential shareholders on the subject. There are several principles that underpin insurance. Discuss in detial two of these fundamental principles of insurance, highlighting the following: (a) The role of the law of large numbers and large numbers in general (b) The impact of undercutting on the selected principles of insurance The question must be answered citing Ghanaian Cases and Examples in addition to experiences of other jurisdictions.