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Chandler Bacon
on Nov 25, 2024

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When somebody buys an insurance policy, that person is seeking to transfer risk away from herself and pass it on to the insurance company.

Insurance Policy

An insurance policy is a legal contract between an insurer and the insured, outlining the terms under which the insurer agrees to compensate the insured for specific losses in exchange for a premium.

Transfer Risk

The uncertainty associated with cross-border financial transactions, particularly the risk that a foreign debtor will default on its obligations due to external factors like currency restrictions.

  • Gain insight into the underlying principles governing risk management and the application of insurance in economics.
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Yvonne MaboshegoNov 28, 2024
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