Explanation:

- Insurance is a:

- Contract of Indemnity:

- This means the insurer provides compensation for losses incurred by the insured.

- Most types of insurance fall under this, especially property and liability insurance.

- Correct Answer

- Contingent Contract:

- A contract that does not happen until a certain condition is met.

- Insurance involves certain contingencies but is primarily a contract of indemnity.

- Wagering Contract:

- A bet where two parties stand to gain or lose.

- Insurance is not a gamble, as it seeks to cover loss, not act as a potential gain.

- None of the above:

- Incorrect, as insurance is indeed covered by one of the given options.