Answered

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Insurance represents the process of risk
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selection
avoidance
assumption
☐ transference

Sagot :

GinnyAnswer

Final answer:

Insurance is a financial protection method involving premiums based on risk probabilities.


Explanation:

Insurance is a method that households and firms use to prevent any single event from having a significant detrimental financial effect. Generally, households or firms with insurance make regular payments, called premiums. The insurance company prices these premiums based on the probability of certain events occurring among a pool of people. Members of the group who then suffer a specified bad experience receive payments from this pool of money.


Learn more about Insurance here:

https://brainly.com/question/33116677


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