Which defines insurance?

Question

a risk control strategy that encourages taking action to reduce the likelihood of a loss occurring. a risk control strategy that encourages taking action to reduce the likelihood of a loss occurring. a program that manages risk by avoiding it 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 policy purchased from a company that provides financial protection against financial loss or harm caused by a possible event 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