Question

Promt
what is insurance?​

Answer 1

Insurance is a contract in which an insurer promises to pay the insured party a sum of money if an event occurs in the future and in return for regular small payments known as premiums

Step-by-step explanation:

Answer 2

is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured.