Final answer:
The INCOTERM where the buyer has no responsibility for insurance since it is included in the contract price is CIF (Cost, Insurance and Freight).
Step-by-step explanation:
The INCOTERM where the buyer has no responsibility for insurance, as this is included in the contract price is CIF (Cost, Insurance and Freight). Under CIF, the seller pays for the costs, freight, and insurance to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded onto the shipping vessel. The seller is only required to obtain insurance on minimum cover. If the buyer desires additional insurance, they must arrange it at their own expense.