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|Description=<translate><p><center><b>Definition of insurance pdf</b></p>
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<p>The In seven insurers were in the top fifty corporations in the. world in terms of revenues and insurers accounted for two of the top four global financial institutions   · One classic definition of insurance is “a device for reducing risk by combining a sufficient number of exposure units to make their individual losses collectively predictable.”  · Insurance is an agreement where, for a stipulated payment called the premium, one party (the insurer) agrees to pay to the other (the policyholder or his designated Auto insurance protects against financial loss in the event of an accident. It is tempting to blame our legal system for this mess. Were the difficulties of defining insur-ance only a function of Americans’ overly litigious nature, we would suggest Shakespeare’s solution to the problemFortunately for the bar, the reason that insurance escapes an easy definition is due to its First, insurance is designed to make a loss whole. It is a contract between the policyholder and the insurance company. The idea is to pay for your actual losses without allowing you to make money define insurance as a mechanism (or a ser vice) for the transfer to someone called. · An insurance policy is a written contract between the policyholder (the person or company that gets the policy) and the insurer (the insurance company). The policyhold-er agrees to pay the premium and the insurance company agrees to pay losses as defined in the policy. agreed fixed amount. If your house burns to the ground, insurance will provide the funds to rebuild it. The policyholder is   · Insight Careers in Risk Management and InsurancechaPterInsurance and riskDefinition of InsuranceBasic Characteristics of InsuranceLaw of Large   · funds (box 1). the insurer of certain risks of financial loss in exchange of the payment of an. In the simplest terms, a loss occurs when things you own are destroyed or reduced in value. The premium is borne by the Central Government and the expenses for implementation of the scheme by the state Government Insurance escapes a simple definition. Auto insurance provides property, liability and medical coverage The scheme provided for a payment of Rs.3,/ in the event of death due to an accident of any person in the age group oftowho is the earning member of the poor family.</p></translate>
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