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Insurance companies provide financial protection by pooling resources from multiple policyholders to cover the risks of loss or damage. They offer various types of insurance, such as health, life, auto, and property, enabling individuals and businesses to mitigate potential financial burdens. In exchange for regular premium payments, insurers promise to compensate policyholders in case of specific events, ensuring peace of mind and stability. Additionally, they assess risks and set premiums based on statistical data to manage their financial exposure effectively.

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2mo ago

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