Related topics: insurance

Study analyzes benefits of tracking devices for auto insurance

The virtual black box of the automotive set, whether it's vehicle plug-in technology or merely a cellphone app while motoring, may lower insurance rates for many drivers. But a new business study involving Washington University ...

How drones could improve crop damage estimates

Farmers and insurance companies may soon get more accurate estimates of weather-related crop damage thanks to a University of Alberta researcher working with existing drone technology.

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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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