He has insurance in case of an accident.
Insurance, in legal and financial terms, is a form of risk management, used primarily to protect against the risk of potential financial losses.
Ideally, it is defined as the fair transfer of risk of potential loss from one entity to another in exchange for a reasonable fee. In practice, however, the insurance protection business often results in litigation between the parties concerned.
Generally, it is a contract in which one party agrees to pay for the financial losses of another party as a result of a specified event.
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