Finance School of Management Insuring Paying a premium to avoid losses but retaining the potential for gain Example: import/export business Other examples: health insurance traveling to 1uzhaigou uesTc 3333 Finance School of Management Insuring ❖ Paying a premium to avoid losses but retaining the potential for gain. ❖ Example: import/export business ❖ Other examples: health insurance, traveling to Jiuzhaigou