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Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.
Principles of insurance
Losses must be uncertain.
The rate of losses must be relatively predictable: In order to set premiums (prices) insurers must be able to estimate them accurately. This is done using the Law of Large Numbers which states that: The larger the number of homogenous exposures considered, the more closely the losses reported will equal the underlying probability of loss. If the coverage is unique, the insured will pay a correspondingly higher premium. Lloyd's of London often accepts unique coverages. (e.g., the insuring of Tina Turner's legs and Jennifer Lopez's buttocks)
More on [ Insurance ]
20% discount from Swinton Home Insurance http://tinyurl.com/ylb97w3
insurance_deals (Insurance Advice) Fri, 06 Nov 2009 22:33:22 -0000
20% discount from Swinton Home Insurance http://tinyurl.com/ylb97w3
Secret Car Insurance Tips: Are you looking for some inside information on car insurance for teenagers? Here's a.. http://u.mavrev.com/08n7t
deepak150 (deepak150) Fri, 06 Nov 2009 22:32:42 -0000
Secret Car Insurance Tips: Are you looking for some inside information on car insurance for teenagers? Here's a.. http://u.mavrev.com/08n7t
RT @bemusedmuse FREEDOM is when you can make career choices based on talents and goals, not insurance plans #healthcare #hcr #tcot #gop #p2
argylestyle (JD) Fri, 06 Nov 2009 22:32:34 -0000
RT @bemusedmuse FREEDOM is when you can make career choices based on talents and goals, not insurance plans #healthcare #hcr #tcot #gop #p2
@mishacollins forget about stimulus package, life insurance, etc, if u want money come to my country, you'll be welcome.. ask Sean Penn! $$$
CarmenGisela (Carmen Gisela) Fri, 06 Nov 2009 22:32:31 -0000
@mishacollins forget about stimulus package, life insurance, etc, if u want money come to my country, you'll be welcome.. ask Sean Penn! $$$
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meaniebom (Meanie Bom) Fri, 06 Nov 2009 22:32:27 -0000
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meaniebom (Meanie Bom) Fri, 06 Nov 2009 22:32:26 -0000
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Complete Glossary of Insurance Coverage - Insurance coverage terms.
FindaLink.net - ACLI: Reinsurance Glossary - Reinsurance glossary compiled by the American Council of Life Insurers Reinsurance Committee and provided by Central Security Life Insurance Company (CSLIC) primarily covering life and health reinsurance terms.
Meta Description: [ Reinsurance glossary compiled by the American Council of
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Insurance Terms - Glossary of insurance industry terminology and acronyms.
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Life Insurance GlossPinion - An opinionated glossary of life insurance terms with pictorials and a focus on terms relating to demutualization.
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Life Insurance Terms - Glossary of life insurance terms.
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Marine Insurance Terms - Insurer provides explanation of marine insurance terminology.
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Reinsurance Terms - Basic collection of terms used in the reinsurance industry.
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