When somebody buys an insurance policy, that person is seeking to transfer risk away from herself and pass it on to the insuranc

Question

shtirl [24]

2 years ago

8

When somebody buys an insurance policy, that person is seeking to transfer risk away from herself and pass it on to the insuranc

e company?

Business

1 answer:

Sonja [21] · Answer 1 · 2022-06-24T02:30:33+03:00

Sonja [21]2 years ago

3 0

Exactly, when someone buys an insurance policy that person is making sure that whatever happens to him/her, there is the policy to compensate for something that will be lost. He/she is transferring the risk away and pass it on to the insurance company for safekeeping.