Gourt > Reference > Dictionaries > By Subject > Business > Insurance
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)
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Health_Rate (Health) Thu, 07 Jan 2010 08:07:08 -0000
Health insurance retail store coming to Tampa http://digg.com/u1JRgh
RT @Kidsdata: Today's Fact: Nearly 34% of CA children had some form of public health insurance in 2007. http://is.gd/5NCT2
Sue_Anne (Sue Anne Reed) Thu, 07 Jan 2010 08:06:49 -0000
RT @Kidsdata: Today's Fact: Nearly 34% of CA children had some form of public health insurance in 2007. http://is.gd/5NCT2
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wingolfer (wingolfer) Thu, 07 Jan 2010 08:05:43 -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
Life Insurers (ACLI) Reinsurance Committee and provided by Central Security Life
Insurance Company (CSLIC). This reinsurance glossary primarily covers life and health reinsurance terms. ]
Insurance Terms - Glossary of insurance industry terminology and acronyms.
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Insweb Insurance Glossary - Indexed collection of general insurance terms.
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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.
Meta Description: [ Trafalgar International Ltd., Bangkok, Thailand - Insurance and Reinsurance Brokers, Consultants and Risk Management Firm ]
Reinsurance Terms - Basic collection of terms used in the reinsurance industry.
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