DEFINITION Insurance is a contract in which one party pays money (called a premium) and the other party promises to reimburse the first for specified types of losses.
By Cathy ParetoInsurance is a form of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium.
Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier (often called an "insurance company), is sells the insurance policy to customers.
DEFINITION Insurance is a contract in which one party pays money (called a premium) and the other party promises to reimburse the first for specified types of losses.
By Cathy ParetoInsurance is a form of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium.
Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier (often called an "insurance company), is sells the insurance policy to customers.
