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2 October, 04:07

Insurance is frequently described as a method of "sharing the risk" because the:

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  1. 2 October, 05:33
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    sharing risk means that the premiums and losses of each member of a group of policyholders are allocated within the group based on a predetermined formula

    Explanation:

    insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. most entity transfer the risk of the company taking up an insurance.
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