The language of insurance is an agreement where we provide / pay some money to a company and the company will pay a sum of money as a dependent on us if we have an accident or misfortune.
By the term a lot of definitions and terms that have been submitted by experts, and if we look at the first glance there is no similarity between the definition and the definition of one another. This is because their insurance to define according to the perspective and their scientific background.
Here are some definitions of insurance:
Definition of insurance by Prof. Mehr and Commack, insurance is a means to reduce financial risk by collecting esposure units in sufficient numbers, to make for individual losses can be estimated. Then the losses were borne equally predictable by those who joined.
Prof. Mark R. Green defines insurance as an economic institution which aims to reduce risk by combining the management of a number of objects in a large enough number so that the overall losses can be predicted within certain limits.
Of all the above definition we define it can be an insurance that can cover all angles. Insurance is a means to reduce the risks inherent in the economy, by combining a number of units exposed to the risk of the same or nearly the same, in large enough quantities, so that the probability of loss is predictable and if the predicted loss occurs will be shared proportionately by all parties in the joint "
Some insurance terms are used here include:
1.Insured, that is you or a legal entity that owns or interest in the property insured.
2.Insurers, a party who receives insurance premiums from the insured and bear the risk of losses / calamities that befall the property insured
Insurance Objectives
1.Provide assurance of protection from the risks of loss suffered by one party.
2.Improve efficiency, because it does not need to specifically hold the security and supervision to provide protection that takes a lot of energy, time and cost.
3.Equitable cost, that is enough just to spend a certain amount and do not need to replace / pay for their own losses which amount is not necessarily and uncertain.
4.Basis for the bank to extend credit because the banks require collateral protection of the collateral provided by borrowers.
5.For savings, because the amount paid to the insurance company will be returned in greater numbers. This is especially true for life insurance.
6.Loss of Earning Power Closes person or business entity at the time he was not able to function (work)
By the term a lot of definitions and terms that have been submitted by experts, and if we look at the first glance there is no similarity between the definition and the definition of one another. This is because their insurance to define according to the perspective and their scientific background.
Here are some definitions of insurance:
Definition of insurance by Prof. Mehr and Commack, insurance is a means to reduce financial risk by collecting esposure units in sufficient numbers, to make for individual losses can be estimated. Then the losses were borne equally predictable by those who joined.
Prof. Mark R. Green defines insurance as an economic institution which aims to reduce risk by combining the management of a number of objects in a large enough number so that the overall losses can be predicted within certain limits.
Of all the above definition we define it can be an insurance that can cover all angles. Insurance is a means to reduce the risks inherent in the economy, by combining a number of units exposed to the risk of the same or nearly the same, in large enough quantities, so that the probability of loss is predictable and if the predicted loss occurs will be shared proportionately by all parties in the joint "
Some insurance terms are used here include:
1.Insured, that is you or a legal entity that owns or interest in the property insured.
2.Insurers, a party who receives insurance premiums from the insured and bear the risk of losses / calamities that befall the property insured
Insurance Objectives
1.Provide assurance of protection from the risks of loss suffered by one party.
2.Improve efficiency, because it does not need to specifically hold the security and supervision to provide protection that takes a lot of energy, time and cost.
3.Equitable cost, that is enough just to spend a certain amount and do not need to replace / pay for their own losses which amount is not necessarily and uncertain.
4.Basis for the bank to extend credit because the banks require collateral protection of the collateral provided by borrowers.
5.For savings, because the amount paid to the insurance company will be returned in greater numbers. This is especially true for life insurance.
6.Loss of Earning Power Closes person or business entity at the time he was not able to function (work)
0 comments:
Post a Comment