Insurance

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Insurance

In today's dynamic commercial world, businesses are facing new and increasingly complex risks. We have a diverse range of solutions to protect your business. No business is too big or too small. In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment.

As a business, you should be familiar with a few insurance terms prior to signing up with an insurance company. Some of those terms include the following:

Insurer
:
a company selling the insurance
Policyholder
:
the person or entity buying the insurance policy
Premium
:
the insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage
Insurance policy
:
a documentation which serves as a contract between a corporation and an insurance company