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What is insurance?


Asked By: Amoli Hari



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Master's in Economics & Chinese (language), University of California, San Diego Process Improvement Test Cases Inventory Management Circuits Jacksonville United States


an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium. Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. Insurance is a means of protection from financial loss. Insurance is a means of protection from financial loss. Insurance is a legal contract between two parties- the insurance company ( insurer) and the individual (insured), wherein the insurance company promises to.

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