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In Business / College | 2025-07-08

Insurance represents the process of risk
A. transference
B. selection
C. assumption
D. avoidance

Asked by titus280

Answer (2)

Insurance is primarily about risk transference, where individuals shift potential financial losses to an insurance provider. This allows for better management of uncertainty in various financial situations. Understanding this concept is essential for effective risk management in personal and business finance. ;

Answered by GinnyAnswer | 2025-07-08

Insurance involves risk transference, which allows individuals and businesses to shift potential financial losses to an insurer. This practice helps manage financial uncertainty effectively. Therefore, the correct answer to the question is option A: transference.
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Answered by Anonymous | 2025-07-15

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