Understanding Insurance is a risk transfer mechanism to the other party that guarantees compensation
fully or partially financially for losses or damages caused by events beyond the control of the insured in this case is the customers insurance products .
In an insurance contract , the insurer indemnify the other party ( the insured ) against loss in a certain amount , which occurs from the possibility of losses specified in a certain period , provided that the cost of the so-called premium paid .
In general insurance , compensation is usually proportional to the losses suffered , while the life insurance is usually paid by a fixed amount . Some types of insurance ( such insurance product ) is an important component of risk management , and it is mandatory in some countries .
Insurance provides protection against the loss of something intangible . This insurance can not ensure the continuity of business , market share , or the trust of customers , and can not provide compensation in the form of knowledge , skills , or resources to continue operations
Friday, 23 May 2014
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