Insurance

indemnification policy is a form of risk way in general used to hedge against the risk of a contingent, un true outrage. Insurance is defined as the equitable transference of the risk of a loss, from one entity to another, in throw for payment. An reappearance broker is a corporation selling the indemnity; the insured, or policyholder, is the person or entity purchasing the indemnity policy. The amount to be charged for a certain amount of insurance reportage is called the premium. Risk management, the practice of assess and controlling risk, has evolved as a discrete field of mull over and practice. The transaction involves the insured assuming a guaranteed and known comparatively small loss in the form of payment to the insurer in exchange for the insurers promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and hazard under which the i nsured will be financially compensated. history of insurance From Wikipedia, the free encyclopedia |[pic] |The examples and perspective in this agnomen deal primarily with the United States and do not turn back a worldwide view of the | | |subject. Please improve this appellation and discuss the issue on the talk page.

(January 2012) | History of insurance refers to the development of a modern business in insurance against risks, especially regarding ships, cargo, and buildings (property and combustion), death (life insurance), go accidents (auto), and the cost of medical treatment (health insuranc e). The industry has been nonrecreational ! and has provided attractive employment opportunities for white collar workers. It helps eliminate risks (as when eject insurance companies demand safe practices and the availability of fire signal and hydrants), spreads risks from the individual or single company to the larger community, and provides an chief(prenominal) rootage of long-term...If you want to get a full essay, ordain it on our website: OrderEssay.net

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