Insurance is a means of providing protection
against a possible loss.
Insurance Broker is a company or a person
registered to provide professional service in insurance and risk management,
helping clients to arrange for appropriate insurance covers and process their
claims.
Insurance Claim is a formal request by a
policyholder to an insurance company to pay compensation in event of the
occurrence of loss or damage covered under the insurance policy.
Insurance excess is an amount of money pre-agreed
by the policyholder to pay to the insurance company in the event of a claim.
Insurance Premium is an amount to be paid for
a contract of insurance.
Average is a policy condition, usually found
in property insurance, where the policyholder is required to bear a certain
proportion of any loss, if the assets were found to be under insured.
