INSURANCE: What is Insurance?

 

Insurance, according to Law no. 2 Year 1992,

is an agreement between two or more parties, with which the insurer binds itself to the insured, by accepting the insurance premium to provide reimbursement to the insured due to loss, damage or loss of expected profit, or legal liability to a third party which may be subject to the insured, which arising from an uncertain event, or to provide a payment based on the death or life of an insured person.

 

Also Read:

INSURANCE: Basic Principles of Insurance

INSURANCE: Planning an Insurance Program

INSURANCE: Types of Insurable Risks

INSURANCE: Insurance Functions and Purposes

INSURANCE: Term In Insurance

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INSURANCE: Insurance Functions and Purposes

  An accident or misfortune can happen at any time. Therefore it is good we consider to follow the insurance program, or in everyday language is said: enter insurance. It is intended to minimize or reduce the risk arising from the accident. With insurance we can transfer the risk to the insurance. In other words […]

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INSURANCE: Planning an Insurance Program

  To follow an insurance program you should plan to get maximum results. Among other things we need: Setting Insurance Objectives. In managing risk, there are things that are underlying, such as the possibility of damage or loss of property you have. Your decision to buy a new car should be balanced by protecting against […]

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