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The person or firm who gets compensation...

The person or firm who gets compensation is called:

A

Insurer

B

Insured

C

Premium

D

Happening of an event

Text Solution

Verified by Experts

The correct Answer is:
b.) Insured
Insured purchases the insurance policies to safeguard the assets from the financial consequences of losses or damage that occur from insured peril. An Insurer is a company who sells the insurance policies. Insurer is the one who bears the risk in return for consideration which is known as premium.
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