JAMB - Commerce (2025 - No. 48)
The transfer of risks already undertaken from one insurance company to another is?
Re-insurance
Under insurance
Over-insurance
Group insurance
Explanation
Re-insurance is the practice where an insurance company transfers a part of its risk to another insurance company to protect
itself from large claims. It allows the insurer to remain solvent after major claims events.
itself from large claims. It allows the insurer to remain solvent after major claims events.
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