The outsurance is a non-compulsory act that is not guided by any kind of law.
Compulsory insurance is that which is guided by law and has to be taken by the businesses in order to claim indemnification at the time of loss or damages.
Outsurance is a business created to fulfill the specific insurance needs of various businesses. It is non-compulsory insurance as it doesn't implement by any law and can be taken by businesses on a voluntary basis.
Therefore, non-compulsory insurance can be the outsurance policy.
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https://brainly.com/question/1631431
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