New study from investigates the complex world of crop insurance

The increasing frequency and severity of extreme weather events like droughts and floods have taken a toll on the midwestern U.S. in recent years, putting a major strain on the region's farmers. From 2001 to 2010, the Federal ...

Race influences flood risk behaviors

If you live in a flood prone area, would you—or could you—take measures to mitigate flood risks? What about others in your community? We are running out of time to ask this question according to The World Resources Institute, ...

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 ...

Artificial intelligence helps experts forecast icebergs

This year will see a relatively low number of icebergs drifting into busy shipping regions in the north-west Atlantic, according to a combination of control systems and artificial intelligence forecasting models developed ...

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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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