Insurance: Difference between revisions
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* [[Option]] | * [[Option]] | ||
* [[Premium]] | * [[Premium]] | ||
* [[Reinsurance]] | |||
* [[Risk]] | * [[Risk]] | ||
* [[Risk response]] | * [[Risk response]] | ||
Revision as of 13:14, 31 October 2016
A contract designed to provide protection against specified types of risk or loss, by paying out to the insured party in the event that the insured loss occurs.
Insurance is generally provided by specialist insurance companies, to whom an insurance premium is paid by the insured in advance.
