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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.
Short Returns.
An entity which provides insurance is known as an insurer, insurance company, or insurance carrier.
Reliable Terms.
A person or entity who buys insurance is known as an insured or policyholder.
Personal Portfolio.
The insurance transaction involves the insured assuming a guaranteed.
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The conditions and circumstances under which the insured will be financially compensated
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If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.
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The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange.
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