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   What is insurance & how does it work?

   • Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss.

   Insurance - Wikipedia

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   What is an insurance transaction?

   • The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms.

   Insurance - Wikipedia

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   What is purchase insurance?

   • Purchase insurance is aimed at providing protection on the products people purchase. Purchase insurance can cover individual purchase protection, warranties, guarantees, care plans and even mobile phone insurance. Such insurance is normally limited in the scope of problems that are covered by the policy.

   Insurance - Wikipedia

   en.wikipedia.org/wiki/Insurance

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   What protection does a liability insurance policy offer?

   • The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict.

   Insurance - Wikipedia

   en.wikipedia.org/wiki/Insurance

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2. en.wikipedia.org › wiki › InsuranceInsurance - Wikipedia

   en.wikipedia.org › wiki › Insurance

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   1 day ago · Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...