Final answer:
Risk transfer and responsibility in insurance explained.
Explanation:
Risk can be transferred to someone else through insurance. An example is insuring against a risk through an insurance company, where the responsibility for potential losses is transferred.
Insurance involves the transfer of risk from one party to another. The insured party pays a premium to the insurer in exchange for coverage against specified risks, like accidents or property damage. Responsibility in insurance refers to the obligation to bear the consequences of an event, with insurance helping to shift that responsibility to the insurer.
Learn more about Insurance and risk transfer here:
https://brainly.com/question/42296816
