Business Studies, asked by raizadaarti3822, 10 months ago

Give a working definition of insurance.

Answers

Answered by unknowngirl94
1

Explanation:

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured.

Answered by shaikhfaizan92
3

Answer:

1a : the business of insuring persons or property. b : coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. c : the sum for which something is insured.

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