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.
If you own a rental property, landlord insurance is important. EBM RentCover helps you protect what is important, your investment.
Street : 2-12 Redfern Rd, Melbourne, Victoria, Australia, 3123
We develop and distribute policies and services to help businesses survive, compete and prosper against the surging tide of new types of competition, economic conditions and legal reforms.
Street : Priestlands Lane, Sherborne, England, United Kingdom, DT9 4HL
The Firm has established a reputation as a professional insurance underwriting service provider with particular expertise in Personal Accident.
Street : 36 Botolph Lane, London, United Kingdom, EC3R 8DE
BHIB Council's Insurance are here to provide you with specialist advice on your council’s insurance and risk management. For more information call 0330 013 0036
Street : Leicester, England, United Kingdom
Customers matter to us at Kay and Lane Insurance and we want to make sure that we get the best protection for you, your business and your home so you don't have to worry.
Street : 10 Regent Street, England, United Kingdom, S70 2EJ