Principles

Principles:

Insurance involves pooling funds from several insured entities (known as exposures) to pay money for the losses that some might incur. The insured entities ar so protected against risk's for a fee, with the fee being dependent upon the frequencies and severity of the event occurring. so as to be AN insured risk, the chance insured against should meet bound characteristics. Insurance as a money treater may be a business enterprise and a serious a part of the money services trade, however individual entities also can self-insure through saving cash for potential future losses.