Asked by Jaime Angelo on Jun 16, 2024
Verified
The one who assumes a risk in return for payment of a premium is the
A) insured.
B) insurer.
C) company.
D) homeowner.
Assumes a Risk
A legal doctrine where an individual knowingly exposes themselves to a hazard or danger and is considered to have consented to the risk involved.
Insurer
A company or entity that provides insurance policies to protect individuals or organizations against financial loss or damage.
Premium
A sum paid periodically to the insurer by the insured for covering their risk.
- Gain insight into the essential aspects and entities participating in insurance agreements.
Verified Answer
UY
uluç yumuturu?Jun 21, 2024
Final Answer :
B
Explanation :
The insurer is the entity that assumes the risk in return for the payment of a premium, providing financial protection or reimbursement to the insured against losses.
Learning Objectives
- Gain insight into the essential aspects and entities participating in insurance agreements.
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