Accountancy, asked by anitapallavi8, 6 months ago

what is the nature of insurance and banking

Answers

Answered by amandahiya3471

0

Answer:

There are no certainties or guarantees in life. There is no guarantee that the business will not suffer an unexpected loss or damages. So while we cannot protect our interests against all risks, we can opt for some insurance. Let us take a look at concepts of insurance and functions of an insurance company.

Answered by dollysingh771777

0

Answer:

Insurance is provided through a system which makes large financial losses more affordable by pooling the risks of many individuals and business entities and transferring them to an insurance company or other large group in return for monetary payments (premium payments). ...

Explanation:

This is your answer hope it helps.....

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