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 as a guaranteed small loss to prevent a large, possibly devastating loss.
An insurer is a company selling the insurance; an insured is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
Posted: Wed Feb 11, 2009 05:10 am Post Subject:
Usi, you may have to elucidate the query. I'm sure that you don't want to know only about what insurance does. Please, don't hesitate to place your problem before the community and we all will try our best to help you. :)
Posted: Wed Feb 11, 2009 10:36 am Post Subject:
Usi, please tell your queries openly so that it can be identified & well answered by all the experts over here.(i won't include myself in this 'expert ' list). :wink:
Posted: Wed Feb 11, 2009 10:40 am Post Subject:
elucidate means:
verb, -dat-ed, -dat-ing.
–verb (used with object) 1. to make lucid or clear; throw light upon; explain: an explanation that elucidated his recent strange behavior.
–verb (used without object) 2. to provide clarification; explain.
But that's the English definition... when speaking American:
Elude-a-date means you got hooked up with Helen Thomas on a blind date and in ten minutes you were late for the door!
Posted: Tue Feb 10, 2009 09:14 pm Post Subject:
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 as a guaranteed small loss to prevent a large, possibly devastating loss.
An insurer is a company selling the insurance; an insured is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
Posted: Wed Feb 11, 2009 05:10 am Post Subject:
Usi, you may have to elucidate the query. I'm sure that you don't want to know only about what insurance does. Please, don't hesitate to place your problem before the community and we all will try our best to help you. :)
Posted: Wed Feb 11, 2009 10:36 am Post Subject:
Usi, please tell your queries openly so that it can be identified & well answered by all the experts over here.(i won't include myself in this 'expert ' list). :wink:
Posted: Wed Feb 11, 2009 10:40 am Post Subject:
elucidate means:
verb, -dat-ed, -dat-ing.
–verb (used with object) 1. to make lucid or clear; throw light upon; explain: an explanation that elucidated his recent strange behavior.
–verb (used without object) 2. to provide clarification; explain.
But that's the English definition... when speaking American:
Elude-a-date means you got hooked up with Helen Thomas on a blind date and in ten minutes you were late for the door!
You had something else in mind!
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