INSURANCE …………………….

Insurance is a means of protection from financial loss. therefore

The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment. To the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something. In which the insured has an insurable interest established by ownership, possession, or preexisting relationship therefore

The insured receives a contract, called the insurance policy. Which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims. therefore

Further Info

And Babyloniantraderss as long ago as the 3rd and 2nd millennia BC, respectively.[1] Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel’s capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practiced by early Mediterranean sailing merchants. Therefore therefore therefore thereforre

The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment. To the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something. In which the insured has an insurable interest established by ownership, possession, or preexisting relationship therefore

Conclusion

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment. To the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something. In which the insured has an insurable interest established by ownership, possession, or preexisting relationship therefore

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment. To the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something. In which the insured has an insurable interest established by ownership, possession, or preexisting relationship therefore

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment. To the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something. In which the insured has an insurable interest established by ownership, possession, or preexisting relationship therefore

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment. To the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something. In which the insured has an insurable interest established by ownership, possession, or preexisting relationship therefore

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