Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.

Principles of insurance

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Losses must be uncertain.

The rate of losses must be relatively predictable: In order to set premiums (prices) insurers must be able to estimate them accurately. This is done using the Law of Large Numbers which states that: The larger the number of homogenous exposures considered, the more closely the losses reported will equal the underlying probability of loss. If the coverage is unique, the insured will pay a correspondingly higher premium. Lloyd's of London often accepts unique coverages. (e.g., the insuring of Tina Turner's legs and Jennifer Lopez's buttocks)

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Obama Urges Excise Tax on High-Cost Insurance - New York Times http://bit.ly/934YRm
BackPainPages (Back Pain Pages) Thu, 07 Jan 2010 05:13:09 -0000
Obama Urges Excise Tax on High-Cost Insurance - New York Times http://bit.ly/934YRm
is having a massive week! Home loans, investment loans, couple of truck loans, bobcat, car, insurance.. all systems... http://bit.ly/7yZ5Qw
blackfishgroup (Blackfish Finance) Thu, 07 Jan 2010 05:13:05 -0000
is having a massive week! Home loans, investment loans, couple of truck loans, bobcat, car, insurance.. all systems... http://bit.ly/7yZ5Qw
EzQuotes Getting Cheap Insurance Online – Save Hundreds on Car Insurance ... http://bit.ly/4AILDO
quotesinsurance (Auto Insurance) Thu, 07 Jan 2010 05:12:02 -0000
EzQuotes Getting Cheap Insurance Online – Save Hundreds on Car Insurance ... http://bit.ly/4AILDO
RT @ObamasHitList: Unemployment insurance goes up|Businesses across Kansas received sorrowing news in December .. http://oohja.com/x4s3i
HWDRepublican (HWDRepublican) Thu, 07 Jan 2010 05:11:50 -0000
RT @ObamasHitList: Unemployment insurance goes up|Businesses across Kansas received sorrowing news in December .. http://oohja.com/x4s3i
@KevinHood more for a insurance agency or roofer looking to capitalize for those looking into storm claim information..
JohnnieFirari (Johnnie Firari) Thu, 07 Jan 2010 05:11:49 -0000
@KevinHood more for a insurance agency or roofer looking to capitalize for those looking into storm claim information..
Obama Urges Excise Tax on High-Cost Insurance: President Obama told House Democratic leaders Wednesday that they s... http://bit.ly/7gFqRE
cookingideas (love to cook ) Thu, 07 Jan 2010 05:11:34 -0000
Obama Urges Excise Tax on High-Cost Insurance: President Obama told House Democratic leaders Wednesday that they s... http://bit.ly/7gFqRE

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