Insurance

Business and Management Concepts

Insurance is a financial product and risk-management method that protects against contingent or uncertain loss. A policyholder pays an insurer a premium in exchange for a promise of compensation when a covered loss occurs. The insurance policy sets out the conditions for payment. Covered people or entities may submit claims, and policies can require a deductible, excess, or copayment before the insurer pays.

Purpose: Protection from financial loss
Policy buyer: Policyholder
Payment for coverage: Premium

Sources and credits

Article: Insurance (English Wikipedia)
Wikidata: Q43183
Text: Card text is adapted from the English Wikipedia article by an automated summary. Wikipedia content is available under CC BY-SA 4.0; see the article history for its contributors. CC BY-SA 4.0 · Article history and contributors
Illustration: By Internet Archive Book Images. No restrictions · File page on Wikimedia Commons
Internet Archive Book Images, https://www.flickr.com/photos/internetarchivebookimages/14760820941/ Source book page: https://archive.org/stream/coastreview7819101910sanf/coastreview7819101910sanf#page/n891/mode/1up
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