DEFINITION Insurance is a contract in which one party pays money (called a premium) and the other party promises to reimburse the first for specified types of losses.
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 insurer, or insurance carrier (often called an "insurance company), is sells the insurance policy to customers.
DEFINITION Insurance is a contract in which one party pays money (called a premium) and the other party promises to reimburse the first for specified types of losses.
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 insurer, or insurance carrier (often called an "insurance company), is sells the insurance policy to customers.
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