Question

State the following statement is True or False:
Through insurance the risk is divided among many people.

A

True

B

False

Medium
Updated on : 2022-09-05
Solution
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Correct option is A)

Insurance is a form of risk management. It is a substitution of the premium for a risk of large possible loss. Such loss is spread over a large number of policyholders exposed to the same risk.

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