Meaning of insurance | SS1 Insurance

Overview

Define Insurance; State Insurance as a pooling of risk; State the Insurance risk transfer; Explain Insurance as a Risk reduction mechanism.

Lesson details

Class: SS1
Subject: Insurance
Theme: Introduction To Insurance
Duration: 30:12

What you'll learn

Definition of Insurance.
The insurer and the insured (Policy Holder)
Insurance Contract
Elements of Insurance
Essential Features of Insurance Contract.

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