Which defines insurance? (1 point)

Question

• a program that manages risk by avoiding it
• a policy purchased from a company that provides financial protection against financial loss or harm caused by a possible event
• a risk control strategy that encourages taking action to reduce the likelihood of a loss occurring.
• an agreement between two individuals to protect each other against negative events

Answer 1

• a policy purchased from a company that provides financial protection against financial loss or harm caused by a possible event