Which of the Following Best Describes Risk Aversion

Which of the following best describes risk aversion?

A) insurance premiums set equal to the insurer's expected payout
B) adverse actions taken by individuals or producers in response to insurance against adverse outcomes
C) the fact that insured individuals know more about their risk level than does the insurer
D) the extent to which individuals are more impacted by a negative change in income than by a positive change in income of the same magnitude