Which defines insurance?(1 point)
Responses
a program that manages risk by avoiding it
a program that manages risk by avoiding it
an agreement between two individuals to protect each other against negative events
an agreement between two individuals to protect each other against negative events
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 policy purchased from a company that provides financial protection against financial loss or harm caused by a possible event