Q85
_________ consists of collecting premiums from numerous individuals to compensate the few who may suffer losses.
A.
Pooling
AnswerB.
Contract
C.
Guarantee
D.
IRDA
Answer: Option A
Solution
Answer: Option A
Solution:
Pooling consists of collecting premiums from numerous individuals to compensate the few who may suffer losses. The pooling of risk is fundamental to the concept of insurance.