insuranceDefinition from Wiktionary, the free dictionary Jump to: navigation, searchFrom Wiktionary under the GNU Free Documentation License. In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance policy. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a large, possibly devastating loss. The insured receives a contract called the insurance policy which details the conditions and circumstances under which the insured will be compensated. From Wikipedia under the
GNU Free Documentation License What is the type of insurance that covers bodily injury and property damage to others? Q. 1: What is the type of insurance that covers bodily injury and property damage to others? liability uninsured motorist comprehensive collision 2: What is the type of insurance that covers you when you are injured by a hit and run driver? liability uninsured motorist comprehensive collision 3: Insurance is based on the concept of ___ and ___ profit and loss risk and loss risk and return profit and cars 4: Which type of insurance is usually required if you finance your car purchase? Medical Payment Insurance Towing Insurance Rental Insurance Collision and Comprehensive Insurance 5: Which of the following is not a way that a teenager can save money on insurance? Getting on his or her parents' policy Getting good… [cont.] Asked by dudefornow14 - Tue May 13 12:15:17 2008 - - 2 Answers - 2 Comments A. I didn't study for this test (haha) 1-Liability 2-Uninsured motorist if you were a pedestrian Collision if it's a hit&run in your car 3-Risk & Loss 4-Comp & Collision 5-Driving penalties 6-All of them Answered by Tori - Wed May 14 11:04:23 2008 Did insurance companies just start denying claims of sick people? Q. If not why didn't the great House or Senate members address this before now. Sick people don't need to be burdened with extra problems. Even paying sick people. Wonder if it's as long as the insurance companies been selling life and auto insurance across state lines. Asked by R J - Sun Mar 28 04:53:05 2010 - - 4 Answers - 0 Comments A. It's just another talking point. While there are some that have had this happen, it's the exception, not the rule. Companies are supposed to make a profit but the idiot progressive don't think that's right. They are also supposed to be in the red, just like the government! Answered by Not My Fault! - Sun Mar 28 20:45:51 2010 How exactly does insurance affect our economy?
Q. I understand the basics of insurance. That is the transfer of risk. That insurance companies bet on getting more in premiums than they have to pay out in claims. What I'm trying to understand is, how deeply insurance, our ability to purchase it, affects our economy. Please if you could give me some answers regarding this or point me to a site where I can find more information it would be great. Asked by Memu Jamu - Sun Sep 27 13:44:22 2009 - - 1 Answers - 0 Comments A. insurance tips : Answered by Path Ock - Sun Sep 27 17:45:44 2009 From Yahoo Answer Search: "insurance"
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Insurance Credit Scoring
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Insurance Information Institute (III)
