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 ...

Jobless benefits only reached a quarter of laid off workers

Only a quarter of workers who were laid off or furloughed at the height of the pandemic lockdown actually received timely unemployment benefit, according to a survey by Shift Project researchers at Harvard Kennedy School ...

Demographics data helps predict NY flood insurance claims

In flood-prone areas of the Hudson River valley in New York state, census areas with more white and affluent home owners tend to file a higher percentage of flood insurance claims than lower-income, minority residents, raising ...

COVID-19 is hitting tipped workers hard

Even prior to COVID-19, tipped workers suffered from the inadequacies of the United States' social safety net and minimum wage standards.

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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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