1: Explain how insurance transfers risk to a third party.

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13-05-2020
Physics

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1: Explain how insurance transfers risk to a third party.

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zacvega zacvega · Answer 1 · 2020-05-13T09:49:03+02:00

zacvega zacvega

13-05-2020

Insurance takes the financial burden off of a single party and puts it onto a collection of people who pay a fee instead. This reduces risk to each person who pays into insurance as ‘any unexpected fees will be covered.

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