Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of a guaranteed small loss to prevent a large, possibly devastating large loss. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
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There's so many insurances we could find.One of these are the Liabily insurance which provides a financial protetction for the holder to a risk of being sued by harming someone.If the court of law determines that one person is to be blamed for damages caused to another person,liability insurance will help make things right.
This insuarance covers so mant organizations on which you belong.Individuals like me is for Personal Liability and includes drivers as well.For some instances you broke a bikers leg and trying to sue you the personal liability covers those and will help you takecare the situation.
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