Question 6 (a) Insurance is a device that gives protection against risk. But not all risks can be insured and given protection. A risk must have certain elements in it that make it insurable. Insurance providers look for these to measure levels of risk and levels of the premium for insurance protection for anything. Discuss FIVE (5) requirement of insurable risk. (10 marks) (b) Insurance is the transfer of risk by an individual, such as yourself, an organization, your business, to the insurance company. Explain FIVE (5) types of insurance. (15 marks)