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Insurance is a tool by which fatalities of a small number are compensated out of funds collected from plenteous. It provides financial recompense for losses suffered due to unanticipated events, and through Acts of Parliament, specific types of insurances are legally public liability insurance for hazardous substances. It is an arrangement where the losses experienced by a few are extended over several who are exposed to similar risks. Insurance companies collect premium to provide security for the purpose, and the insurance companies act as trustees to the amount so collected. Yogakshema Vahamyahan, the catch phrase, is the catch phrase.
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