what do you know about insurance

Question

Accepted Answer

Insurance is a contract between an individual and an insurance company, providing financial protection against potential losses.

Insurance is a form of risk management.
It involves the transfer of risk from an individual to an insurance company.
Insurance policies provide coverage for various types of risks, such as property damage, liability, health, and life.
Premiums are paid by the insured in exchange for the coverage provided by the insurance company.
Insurance helps individuals and businesses mitigate financial losses in case of unforeseen events.
Examples of insurance types include auto insurance, home insurance, health insurance, and life insurance.

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