Gourt > Regional > Oceania > Australia > Business and Economy > Financial Services > Insurance (9)
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
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)
More on [ Insurance ]
Insurance :: Financial Services
Centurion Insurance Brokers - Insurance brokers offering quotes on home and contents, motor and travel insurance.
Meta Description: [ Centurion Insurance Brokers - Insurance Brokers Perth, Insurance Broker Western Australia, Perth Insurance Company WA, Quote, Home, Contents, Motor, Travel ]
Insurance Hub - Offers claim guides and buying guides for purchase. Includes an insurer directory and basic insurance information.
Meta Description: [ insurance hub - insurance information for insurer insured australia brisbane gold coast queensland directories comparison quote price cheap home business car travel marine fire storm theft water damage liability cover policy wording contract ]
Pacific Premium Funding - Provides a range of cash flow management solutions including insurance premium funding.
Meta Description: [ Pacific Premium Funding: Premium finance or Premium Funding is a cost effective way to spread your insurance premium expense utilising a pay by the month mechanism. This frees up your cash flow to re-invest in your business. ]
Strathearn Insurance Brokers - Insurance broking firm providing business insurance, risk assessment and risk management. Services include professional indemnity, liability and surety bonds.
Meta Description: [ Strathearn Insurance Brokers is an international insurance broking firm with offices in Perth, Sydney and Brisbane, Australia. We specialise in insurance, risk assessment and risk management services. ]
| . He was uninjured and said he fell asleep. Hope he purchased the extra insurance on the van rental. We continued on ... | |
| Next Video | |
