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Insurance is a contract between an individual or business and an insurance company. The individual or business pays a premium to the insurance company in exchange for the promise that the insurance company will cover any financial losses that may occur resulting from certain events or incidents specified in the policy.

Insurance can provide a sense of security and protection against unexpected events such as accidents, illnesses, natural disasters, and other unforeseen events.

Insurance provides financial protection and can help individuals and businesses mitigate the financial impact of unforeseen events.