How does insurance work?
Insurance operates on the principle of risk pooling and risk transfer. When an individual or entity purchases an insurance policy, …
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What is the purpose of insurance?
The primary purpose of insurance is to provide financial protection and peace of mind to individuals, businesses, and organizations against …
What is it called insurance?
The term “insurance” derives from the Latin word “securus,” meaning secure or safe. The concept of insurance traces its roots …
What do you mean by insurance?
Insurance is a financial tool designed to mitigate risks and provide protection against unexpected events. At its core, insurance operates …