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Insurance is defined as financial restitution in the case of an accident or claim to put you back in the same financial position you were in before the accident. insurance risks are things like where you live .. and how old you are, or things like if you have a burgalar alarm.. or if you have a flood every year.. that's a bit insurance risk...
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoRisk is the probability or chance of suffering a financial loss.
Stated otherwise, risk is the likelihood, or lack thereof, that an event will occur that will result in financial loss. It is the concept of risk upon which insurance is based. Specifically, in return for the payment of a premium, the insurer agrees to assume the risk, and therefore the financial impact, of the risk. The nature of the risk and the degree to and conditions upon which the insurer will assume the financial impact of the occurrence are set forth in the insurance policy.
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Is risk insurance and risk insurance management are same?
According to my opinion or my experience risk insurance and risk insurance management are differ from each other. Risk Insurance is the risk that is insured Risk Insurance Management Consist of process How the Risk can be manage it include prevention of risk and minimization of risk and many other proces.
Do you need risk management or insurance?
do you need risk management or insurance
What is the population of Insurance Risk Managers?
Insurance Risk Managers's population is 2,006.
When was Insurance Risk Managers created?
Insurance Risk Managers was created in 1995.
What is sum at risk in insurance industry?
sum at risk means the total risk or insurance cover borne by policyholder.
What is the actual meaning of insurance?
The term insurance means the transfer of risk from one person to another, usually a company specializing in the insurance industry. You can transfer any type of risk be it the risk of wrecking your automobile, the risk of dying, the risk of a storm damaging your home. The type of risk dealt with in insurance is always the risk of financial loss.
What is risk based insurance?
Both life and general insurance policies are risk based. In the case of life insurance policy, the risk is human life based. In general insurance, the risk whether cash/kind varies as per specific nature of the policy.In fact insurance policy is a substitute against avertment of risk factor.
In what way does insurance 'pool risk'?
Insurance pool risk by providing protection against disastrous risk such as fires,floods,earthquakes,accidents
How do I know if I have Mortgage insurance?
i have mortgage and homeowner insurance and fidc risk insurance
Is insurance a liability?
No, Insurance is a means of contractually transferring risk including the risk of liability to another entity, namely the Insurance Company issuing the policy.
Where can you get assigned risk car insurance in Dallas Texas?
Any Insurer who participates in the Assigned Risk Insurance Plan can place a policy there for you. But why would you want an assigned risk policy? The assigned risk pool is for high risk drivers who can't find insurance anywhere else.
Which companies offer risk insurance in the US?
Some of the companies that offer risk insurance in the United States include the Better Business Bureau, Zurichna, Ace Group, and the website American Risk Insurance.
