Insurance
"Money saved and money earned can be money spent on a better world."
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.
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[edit] Types
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:
- Automobile insurance
- Aviation insurance
- Boiler insurance
- Casualty insurance
- Credit insurance
- Directors and Officers insurance
- Health insurance
- Income protection insurance
- Liability insurance
- Purchase insurance
- Life insurance
- Disability insurance
- Locked Funds insurance
- Marine insurance
- Environmental Liability insurance
- Pet insurance
- Political risk insurance
- Professional Indemnity insurance
- Property insurance
- Terrorism insurance
- Title insurance
- Travel Insurance
- Workers' compensation insurance
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.
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[edit] See also
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