Through insurance,society is able to
A)reduce costs.
B)increase rewards.
C)reduce financial risks and share losses.
D)change financial risks and reduce losses.
E)anticipate risks.

Question

Quizplus · Accepted Answer

Insurance allows individuals and businesses to transfer the financial risk of certain events (such as accidents, thefts, or natural disasters) to an insurance company. This reduces the risk of substantial financial loss in the event of a covered incident and allows for the cost of that loss to be shared among those with insurance policies, thereby reducing individual financial risk.

Through Insurance,society Is Able to