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Understanding the Role of Insurance Companies in Our Lives Insurance companies are vital institutions that provide financial protection to individuals, families, and businesses against unforeseen risks. By pooling resources, they enable policyholders to mitigate potential losses from accidents, health crises, property damage, and various other liabilities. In today’s world, understanding how insurance companies operate can empower consumers to make informed decisions about their financial security. At their core, insurance companies work by collecting premiums from policyholders in exchange for coverage. These premiums are pooled together to create a fund that…
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