Insurance as the financial protection
Types of insurance
Model of profit making in insurance
1)Collins English Dictionary. 8th Edition. HarperCollins Publishers, 2006.
2)Credit Insurance Training Module 1 - www.insurance-institute.ie/.../AndrewPetherbridge.4.6.09.ppt
3)Gollier C. (2003). To Insure or Not to Insure?: An Insurance Puzzle. The Geneva Papers on Risk and Insurance Theory. - http://dhenriet.perso.centrale-marseille.fr/gollier.pdf.
4)Gollier C. (2003). To Insure or Not to Insure?: An Insurance Puzzle. The Geneva Papers on Risk and Insurance Theory. - http://dhenriet.perso.centrale-marseille.fr/gollier.pdf.
5)Insurance - http://en.wikipedia.org/wiki/Insurance.
6)Irish Brokers Association. Insurance Principles - https://www.iba.ie/development2009.
7)Kulp C. & Hall J., Casualty Insurance, Fourth Edition, 1968.
8)Kunreuther H. (1996). Mitigating Disas
Показать всеter Losses Through Insurance. Journal of Risk and Uncertainty. - http://opim.wharton.upenn.edu/risk/downloads/archive/arch167.pdf.
9)UK Insurance Directory - www.ukinsurancedirectory.com
10)Vaughan, E. J., 1997, Risk Management, New York: Wiley. Скрыть
e) the premium payable in return for such protection
f) (as modifier) insurance agent insurance broker insurance company
2) a means of protecting or safeguarding against risk or injury1.
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.
Risk which can be insured by private companies typically share seven common characteristics:
1. Large number of similar exposure units. Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the law of large numbers in which predicted losses are similar to the actual losses. Exceptions include Lloyd's of London, which is famous for insuring the li
Показать всеfe or health of actors, actresses and sports figures. However, all exposures will have particular differences, which may lead to different rates.
2. Definite Loss. The loss takes place at a known time, in a known place, and from a known cause. The classic example is death of an insured person on a life insurance policy. Fire, automobile accidents, and worker injuries may all easily meet this criterion. Other types of losses may only be definite in theory. Occupational disease, for instance, may involve prolonged exposure to injurious conditions where no specific time, place or cause is identifiable. Ideally, the time, place and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements. Скрыть
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