Insurance includes pool funds from many insured entities known as the (exposure) to pay for the losses that may be incurred by some. Thus, the insured entities protected from risk for a fee, with the fee being dependent on the frequency and severity of the event occurs. In order to be at risk for insurance, it should be insured against the risk meet certain characteristics. Financial insurance broker is a commercial enterprise and a large part of the financial services industry, but individual entities can also self-locking through the provision of capital to cover potential losses in the future.
Source: Wikipedia.org
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