Most of us people wants to insure many things in our living. We want to insure that if unexpected things happen, we are ready to face it without worrying.
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium.
There are many good things about insurance and we will try to discuss it on this blog.