Welcome to the Global Business Guide. In this case, we will be taking out the insurance industry, general insurance policy, adequate and accurate definition, brief history, insurance, insurance, insurance classes, the role of the registrar of industry and how you as a person can benefit the most from your own, your car, your house, and even Does your business guarantee you? We hope you enjoy reading this article and the context of your wish for the above article will be met.
Insurance is a financial institution classified as a non-bank financial institution. They are important diaries in finance. It is believed that it originated with the ancient practices of the inhabitants of the Tigris and Euphrates rivers in present-day Iraq about 4,000BC. History says that in 1800BC, the Babylonian code Hammurabi contained provisions that provided insurance features in the laws governing their trade. But today what we have in the industry, nationally and internationally was from an agreement between only two people into the largest industry in the world.
According to the definition, we learn that insurance refers to a situation in which a person protects himself from danger and minimizes the consequences of uncertainty and spreads losses. Another explanation for this creation is the situation in which a certain amount of money collected by someone by an insurance company agrees to pay compensation or to provide services to that person if and whenever the person suffers from the type of loss specified in the insurance agreement; and from the definition, this is where the insurance company comes in since they are the people who will agree with the person who takes any insurance policy on any of his property. The industry is widely believed to be the means by which people reduce the risk of unforeseen circumstances. As financial intermediaries, they act as intermediaries between the residual units and the deficit units in the economy thus supporting overall economic growth.
One might ask, how do insurance companies generate the money used to compensate their policyholders when they are affected by any suffering? The answer to this question will lead us to talk about the various ways in which insurance companies make money and how their policyholders are compensated. The fact is, the money they collect from the policyholder (ie the contractor) is invested in a premium (additional amount paid over the normal cost of an item. In our next article, we will explain in more detail: Bonds, stocks, loans and government loans. They make money for themselves and their clients.They invest their policy owner in a better business with short-term returns on investment and when they meet their many needs when they need surprises and losses. are invested, not only to earn additional interest on those investments, but also to assist the government, public authorities, and industries with widespread security, as a result of the investment policy. ense (explain later), their savings are not left idle **** used to advantage.
One way in which insurance companies compensate those in their service is that the contribution of many is used to compensate a few of those affected by the misfortune they are protected from. So the loss of a few is the lot of many.
We hope that in this extension, you should have understood the above definition of an insurance company. Now the next thing we will consider is the activities of insurance companies.
Among other things, the main function of the insurance company is to carry the risk, the financial losses of people are still wisely distributed to many people, for example, in the event of a fire, the fire insurance policy holder pays extra money at the common pool,
1. The insurance industry promotes savings (i.e. savings) especially through health policies that provide for family, welfare and old age policies. It offers employment opportunities for those who are interested in working with the industry.
Insurance companies work closely with commercial companies. It is due to the commercial presence (i.e., business in general, both industries etc.) and the trade with a strong stable return on insurance, this is due to the fact that it has been assisted in various ways to improve common business trends.
Before we move on to other activities, let us define two terms: insurance; insurance as it will help us in our understanding.
Insurers: This is the group that deals with insurance in other words, the person or persons who take out the insurance policy. This can be done directly or indirectly through an agent or a reseller.
Insurance Company: This is a group that provides protection that will be covered by the policy. The insurance company covers all other conditions including the insurer who is the chief executive officer of the insurance company whose business is asleep to do the new business of the company.
The insurance company has a contract that promises to pay compensation in the future for the so-called premium consideration (meaning the amount paid by the insurer on the insurance cover provided by the policy). As we have in other contracts, which means that contracts are based on terms of granting and acceptance, consideration and ability to make contracts. This contract, especially for insurance, involves two parties namely insurance and insurance.