Insurance

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Revision as of 23:09, 19 March 2021 by imported>Doug Williamson (Add links.)
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Risk management - transferring & pooling risk.

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.


See also