Related topics: insurance

French winemakers count cost of 'worst frost in decades'

Desperate French farmers counted the cost Friday of several nights of frost this week which threaten to decimate grape harvests in some of the country's best-known and prestigious wine-producing regions.

Swiss statistical systems enhanced by big data

A huge volume of digital data has been harvested, stored and shared in the last few years from sources such as social media, geolocation systems and aerial images from drones and satellites, giving researchers many new ways ...

Report shows climate change imperils the U.S. financial system

Burnt orange daytime skies signal that the consequences of climate change are already here. But while we tend to focus on the death and destruction resulting from the growing frequency and severity of wildfires and other ...

Pandemic bonds: The financial cure we need for COVID-19?

Countries around the world are taking unprecedented action to stem financial collapse due to COVID-19. Governments are acting as insurers of last resort, providing liquidity to both individuals and corporations in dire straits.

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Insurance

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 or policyholder 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.

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