Insurance is a method of sharing the losses of a ‘few’ by ‘many’
Insurance is a method of transferring the risk of an individual to another individual
Insurance is a method of sharing the losses of a ‘many’ by a few
Insurance is a method of transferring the gains of a few to the many
✅ The correct answer is A.
Insurance pays when there is loss of asset. Insurance is a method of sharing the losses of a ‘few’ by ‘many’. property to assess the risk for rating purposes.
Insurance pays when there is loss of asset. Insurance is a method of sharing the losses of a ‘few’ by ‘many’. property to assess the risk for rating purposes.