The most accurate reason insurance and surety bonds are BOTH used on construction projects is that they:

Giải thích

Insurance transfers the insured's own fortuitous losses to an insurer that does not expect repayment; a bond is a three-party guarantee running to an obligee, and the surety expects the principal to reimburse what it pays. Projects carry both because the risks do not overlap. (a) and (b) each describe insurance and then attach the label to both instruments. (c) mistakes who a bond protects — the owner is typically the obligee the bond runs to, so the bond protects the owner from the contractor, not the reverse.