The Basics of Insurance
Posted by mbote on November 1st, 2009 | 0 comments
The basics of insurance are simple – one company of
fers a guaranteed future payment for a contracted event. The company offering the guarantee charges a premium for insuring against the event’s occurence – in doing so, the insurance company is protecting the client against certain circumstances, say physical capital loss due to a natural disaster. The insurance company assumes all financial responsibility associated with the client’s losses.
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