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In simple words, Insurance is transferring your risk of a potential and possible loss to another (generally an Insurance company); the price you have to pay for this is called premium, and the Insurance company is required to compensate for any loss which may arise. Thus, insurance is taken as a risk management measure.

Discuss!Edit

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured, or policyholder, is the person or entity buying the insurance policy.

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Progressive Auto Insurance OR Progressive Insurance

HistoryEdit

TypesEdit

Over a period of time, many types of insurance covers have emerged to take care of the requirements of the person or the entity seeking to manage risks by taking insurance. Some of these types of insurance are listed below:

The list is just an indicative and illustrative list. You are most welcome to update and expand the list. Please also share your experiences about these or other type of insurance covers.

Controversial issuesEdit

See alsoEdit

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