About this document
Fundamentals of Insurance Overview by Shrestha Mohanty is a document available to read on EtoBox.
Insurance involves transferring the risk of financial loss from individuals and businesses to insurance companies. It allows insureds to exchange the possibility of a large loss for smaller, regular premium payments. Insurance is based on pooling premiums from many insureds and using that pool of funds to cover claims. For a risk to be insurable, the losses need to be accidental, definite, measurable, not catastrophic, and economically feasible to insure. Major types of insurers include private stock and mu
- Author
- Shrestha Mohanty
- Language
- EN