Insurance is the sharing of【C1】______. Nearly everyone is exposed【C2】______risk of some sort. The house owner, for example, knows that his【C3】______can be damaged by fire; the ship owner knows that his vessel may be lost at sea; the breadwinner knows that he may die by【C4】______and【C5】______his family in poverty. On the other hand, not every house is damaged by fire or every vessel lost at sea. ff these persons each put a【C6】______sum of money into a pool, there will be enough to【C7】______the needs of the few who do suffer【C8】______, In other words the losses of the few are met from the contributions of the【C9】______. This is the basis of【C10】______. Those who pay the contributions are known as【C11】______and those who administer the pool of the contributions as insurer. The【C12】______for an insurance naturally depends on how the risk is to happen as suggested【C13】______past experience, ff the companies fix their premiums too【C14】______, there will be more competition in their branch of insurance and they may lose【C15】______. On the other hand, if they make the premiums too low, they will not have【C16】______and may even have to drop out【C17】______business. So the ordinary forces of supply and【C18】______keep premiums at a proper【C19】______to both insurers and those who【C20】______insurance. 【C1】