Question

Is Insurance a wager?

Answer 1

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In Insurance, the insured will always pay up a premium, irrelevant of the happening of the event. ... If this does not happen, then the insurer would not have to indemnify the insured. In Wagering, there will always be at least one party that makes a gain, and another that makes a loss.

Answer 2

Explanation:

In Insurance, the insured will always pay up a premium, irrelevant of the happening of the event. ... If this does not happen, then the insurer would not have to indemnify the insured. In Wagering, there will always be at least one party that makes a gain, and another that makes a loss.