Question

“Insurance is a device for the transfer of risks of individuals to an insurer, who

agrees for a consideration to assume, to a specified extent,losses suffered by the

insured.” In the light of this statement explain the important functions of insurance.​

Answer 1

Answer:

i agree with

Insurance is a device for the transfer of risks of individuals to an insurer, who

agrees for a consideration to assume, to a specified extent,losses suffered by the

insured.” In the light of this statement explain the important functions of insurance.