What is insurance?

Insurance is a financial arrangement that provides protection against potential financial losses or damages. It involves the transfer of risk from an individual or entity to an insurance company in exchange for a premium. Here are the key components and principles of insurance:

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Key Components of Insurance

Principles of Insurance

Types of Insurance

Insurance is a vital financial tool that provides protection against potential losses and damages. By transferring risk to an insurance company, individuals and businesses can mitigate the financial impact of unforeseen events, ensuring greater financial stability and peace of mind.

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