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The Essence of Insurance (Key terms (an insured(policyholder) (person or…
The Essence of Insurance
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form of risk management primarily used to hedge against the risk of a contingent, uncertain loss
equitable transfer of the risk of a loss, from one entity to another, in exchange for payment
policy designed to make sure that you are no worse off after an accident or disaster than you were beforehand
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Process of insuring
4)When the policy is ready, it is sent to the client
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