Insurance risk-sharing measures are of a person or of a handful of people for the whole community who are likely to encounter similar risks, by every person in the community to contribute a certain amount to a General Fund and from the General Fund that compensates damages to members of the community may not suffer losses because of the risk it poses.
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What is insurance?
Insurance risk-sharing measures are of a person or of a handful of people for the whole community who are likely to encounter similar risks, by every person in the community to contribute a certain amount to a General Fund and from the General Fund that compensates damages to members of the community may not suffer losses because of the risk it poses.
Why buy insurance?
Insurance is a form of transfer of risks. buy insurance essentially bought peace of mind, is that in exchange for the uncertainty is the possibility of damage by certainty through the offset by finance.
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