In one or the other form, we all have taken Insurance policies. It can be property, health, life, auto, liability etc. “Insurance is a type of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium”. Copy the link given below and paste it in new browser window to get more information on Insurance:- www.transtutors.com/homework-help/finance/insurance.aspx