Question

Which of the below option best describes the process of insurance?

Q: Answer-Which of the below option best describes the process of insurance?

Insurance may be considered as a process by which the losses of a few, who are unfortunate to suffer such losses, are shared amongst those exposed to similar uncertain events situations.

A Sharing the losses of many by a few

B Sharing the losses of few by many

C One sharing the losses of few

D Sharing of losses through subsidy

E None of these

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Which of the below option best describes the process of insurance?

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