Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.
An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship.
The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.
so many un resonating things about.. insurance..
mostly that it seems we spend/give-up/sell-out our days.. insuring our futures.. of which there is no guarantee.. ie: go to school.. get into college.. get degrees/credentials.. get a good paying job.. all so that you can retire..
The Hill (@thehill) tweeted at 6:09 AM – 16 Jan 2018 :
Number of uninsured Americans increased by over 3 million in Trump’s first year: report https://t.co/2UFlwIafdqhttps://t.co/pOxKKyLF8q(http://twitter.com/thehill/status/953252785524441090?s=17)
even w insurance.. i couldn’t afford (justify spending money) on ie: healthcare.. not to mention the fiasco of paperwork
World Economic Forum (@wef) tweeted at 5:52 AM – 21 Jan 2018 :
Scientists have found a drug that can repair cavities and regrow teeth https://t.co/4qWHxjGcmL #health https://t.co/L6rzHptKzL(http://twitter.com/wef/status/955060425082667008?s=17)
Steven Kotler (@steven_kotler) tweeted at 5:48 AM – 20 Jan 2018 :
At 1.2 trillion the insurance industry is the largest in the world. And AI is about to disrupt all of it…. https://t.co/9rpO3VPZKO(http://twitter.com/steven_kotler/status/954697131775942656?s=17)
But its mere existence is an insurance policy that will remind governments that the last object establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future.
insurance contract – where risk is transferred for a fee