Answer:
C) uncertainty regarding loss.
Explanation:
An insurance is an arrangement between the insurer and the insured in which the insured pays the insurer a fee known as premium for indemnity in case of a loss or damage to an identified property or life.
An insurance is taken by the insured to reduce his cost in case of a loss. As such, the risk in an insurance is the uncertainty regarding a loss.
The right option is C.
