This article is about the risk management method. For insurance in blackjack, see Blackjack.
An advertising poster for an insurance company from ca. 1900-1918 depicts an armoured knight.
Financial market participants
Assorted United States coins.jpg
Credit unions Insurance companies Investment banks Investment funds Pension funds Prime brokers Trusts
Finance Financial market Participants Corporate finance Personal finance Public finance Banks and banking Financial regulation Fund governance
v t e
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.
An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder. The insurance 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 the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship.
The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. 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.
Contents [hide]
1 History
1.1 Early methods
1.2 Modern insurance
2 Principles
2.1 Insurability
2.2 Legal
2.3 Indemnification
3 Social effects
3.1 Methods of insurance
4 Insurers' business model
4.1 Underwriting and investing
4.2 Claims
4.3 Marketing
5 Types
5.1 Auto insurance
5.2 Gap insurance
5.3 Health insurance
5.4 Income protection insurance
5.5 Casualty insurance
5.6 Life insurance
5.7 Burial insurance
5.8 Property
5.9 Liability
5.10 Credit
5.11 Other types
5.12 Insurance financing vehicles
5.13 Closed community and governmental self-insurance
6 Insurance companies
7 Across the world
7.1 Regulatory differences
8 Controversies
8.1 Does not reduce the risk
8.2 Insurance insulates too much
8.3 Complexity of insurance policy contracts
8.4 Limited consumer benefits
8.5 Redlining
8.6 Insurance patents
8.7 Insurance industry and rent-seeking
8.8 Religious concerns
9 See also
10 Notes
11 Bibliography
12 External links
History[edit]
Main article: History of insurance
Early methods[edit]
Merchants have sought methods to minimize risks since early times. Pictured, Governors of the Wine Merchant's Guild by Ferdinand Bol, c. 1680.
Methods for transferring or
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment