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What is the definition of - Insurance? |
a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium."many new borrowers take out insurance against unemployment or sickness"synonyms:indemnity, indemnification, assurance, (financial) protection, security, coverage"insurance for his new car" |
A company uses this as a safety net for their customers. |
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