What is the basic purpose of insurance?
A . To protect the public from personal liability and property damage
B . To help successful litigants recover legal costs
C . To leap assets beyond the risk of creditors
D . To spread and shift risk
Answer: D
Explanation:
The basic purpose of insurance is to spread and shift risk. This is fundamental to the concept of insurance, which pools the risk of financial losses from individual members of a large group, allowing them to share the financial risks associated with potential losses spread across all members.
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