The insurance contract we receive when we transfer risk to the insurance company is the only thing makes the exchange tangible.

Question

Quizplus · Accepted Answer

The insurance contract is a tangible representation of the exchange of risk between the insured and the insurance company. It outlines the terms and conditions of the agreement, including the coverage provided, the premiums to be paid, and the responsibilities of both parties.

The Insurance Contract We Receive When We Transfer Risk to the Insurance