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 or uncertain loss.
An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or an underwriter. A person or entity who buys insurance is known as an insured or as a 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 usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship.
The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the policyholder 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. A mandatory out-of-pocket expense required by an insurance policy before an insurer will pay a claim is called a deductible (or if required by a health insurance policy, a copayment). The insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risks, especially if the primary insurer deems the risk too large for it to carry.
We are a Lincoln based Insurance company offering Home insurance, Professional, Business, General and Commercial liability insurance, Car insurance for young drivers and Fleet insurance.
Corporation Street, Lincoln, England, United Kingdom, LN2 1
APC London Market are a specialist Lloyd’s Broker based in the centre of London’s insurance district. We specialise in general liability, medical malpractice, life science, high risk combined liability and binder placements within Lloyd’s and the London Market.
80 Leadenhall Street, London, United Kingdom, EC3A 3DH
OTC Insurance Brokers offers both Commercial and Personal Insurance through Nova Scotia, New Brunswick and Prince Edward Island. Get started with a free Commercial Insurance Assessment.
133 Ilsley Ave, Halifax, Nova Scotia, Canada, B3B 1T1
The insurance industry in the UK has come together to set up a multicultural network group – iCAN - the Insurance Cultural Awareness Network. iCAN brings together multicultural and international employee resource groups, D&I champions, and their allies across the insurance industry to drive employee engagement and positive change across the sector.
London, United Kingdom
Insurance Brokers based in High Wycombe: We make it our business to protect you and your business. As an independent insurance broker, we offer impartial and expert advice, seeking out the best available cover for all aspects of your life.
Old Oxford Road, High Wycombe, England, United Kingdom, HP14 3BE
COBRA Underwriting Agencies Ltd is part of the COBRA Group. A service driven highly exclusive underwriting company for brokers that offers excellent commercial insurance products.
28 Dingwall Road, England, United Kingdom, CR0 2NH