Which of the following types of risk responses would an insurance policy describe?

Acceptance means deciding not to take any action regarding the risk and dealing with it if it occurs, not shifting it.

Transference, also known as sharing, is a risk response strategy where the responsibility and financial consequences of a risk are shifted to a third party, typically through contracts, warranties, or purchasing insurance policies. The insurance company takes on the financial burden if the insured event occurs.

Avoidance means eliminating the risk by changing the project plan or scope so that the risk event cannot happen.

Mitigation involves reducing the probability or impact of a risk event to an acceptable level, not transferring it.