swhittaker939
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  • 22-05-2020
  • Business
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A contract for compensation for a full or partial loss or damage caused by an uncontrollable event is called

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ogechukwubenedict
ogechukwubenedict ogechukwubenedict
  • 30-05-2020

Answer: Insurance contract

Explanation: Insurance is a contract for compensation for a full or partial loss or damage caused by an uncontrollable event and as such it is a means of indemnity (security from damage, loss, or penalty) against a future occurrence of the said uncertain event. The insurance policy is a legal document outlining a particular insurance cover for an insured entity for a given risk.  

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