An establishment that specializes in taking care of risks is called?

An establishment that specializes in taking care of risks is called an insurance company. An insurance company provides a service by offering various types of insurance policies to individuals or businesses in exchange for regular premium payments. The purpose of insurance is to provide financial protection against potential losses due to unexpected events such as accidents, illness, or damage to property. Insurance companies pool the premiums of many policyholders and use that money to pay out claims to those who experience losses covered by their policies.