The concept of insurance involves a transfer of:

Liability

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Needs

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Ownership

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Risk

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All of these

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Solution

The correct option is D
Risk

The concept of insurance involves a transfer of risk.

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Similar questions

“Insurance involves sharing of risks.” Comment.

Which of the following can explain the need for pollution control?

(a) Cost savings

(b) Reduced risk of liability

(d) All of them

Which of the following is not a function of insurance?

(a) Risk sharing

(b) Assist in capital formation

(d) None of these

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