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Profit Insurance Companies Should Known

insurance
Insurance is a term used to refer to the act, system, or business where financial protection (or financial compensation) for life, property, health and so forth to get a replacement from the events that are unpredictable that can occur such as death, loss, damage or illness, which involves regular premium payment within a specified period in exchange for a policy that ensures the protection.

The term "insured" usually refers to all things that get protection.

insurance company profits 
Insurance companies also earn investment profits. It is derived from the investment premiums received until they have to pay the claim. This money is called "float". [Need citation needed] Insurers can benefit or loss from price changes in float and also the interest or dividends on the float. In the United States, lost property and deaths recorded by the insurance company is US $ 142.3 billion in the five years ending in 2003, but the total profit in the same period was $ 68.4 billion US, as a result of the float.

The basic principle of insurance
In the insurance world there are six basic principles that must be met, namely :
  • Insurable interest right to insure arising out of a financial relationship between the insured and the insured legally recognized.
  • Utmost good faith An action to disclose accurate and complete, all facts material (material fact) about something that will be insured, whether requested or not. The meaning is: the insurer must honestly explain everything clearly about the extent of the terms / conditions of the insurer and the insured must also provide clear and accurate information on the object or the interests of the insured.
  • Proximate cause means the active, efficient cause that chain of events that brings about a result without the intervention of any force started and working actively from a new and independent source.
  • Indemnity A mechanism in which the insurer to provide financial compensation to put the insured in a financial position which he had prior to the loss (Commercial code article 252, 253 and reaffirmed in article 278).
  • Subrogation transfer of demand from the insured to the insurer after the claim is paid.
  • Contribution The right person to invite the other person equally bear, but do not have the same obligations to the insured to participate in providing indemnity.
refusal of insurance
Some people think of insurance as a form of betting that is valid for the period of the policy. Insurance companies are betting that the property buyer will not be lost when the buyer pays the money. The difference in the fees paid to an insurance company against the amount they can receive when the accident occurred about the same as if someone bet on horse racing (eg, 10-to-1). For this reason, some religious groups, including the Amish avoid insurance and depend on the support received by their communities when disasters occur. In the community and supports a close relationship in which the people can help each other to rebuild the lost property, this plan can work. Most people can not effectively support the system as above and this system will not work for large risks.

Profit Insurance Companies Should Known

Profit Insurance Companies Should Known

Profit Insurance Companies Should Known

insurance
Insurance is a term used to refer to the act, system, or business where financial protection (or financial compensation) for life, property, health and so forth to get a replacement from the events that are unpredictable that can occur such as death, loss, damage or illness, which involves regular premium payment within a specified period in exchange for a policy that ensures the protection.

The term "insured" usually refers to all things that get protection.

insurance company profits 
Insurance companies also earn investment profits. It is derived from the investment premiums received until they have to pay the claim. This money is called "float". [Need citation needed] Insurers can benefit or loss from price changes in float and also the interest or dividends on the float. In the United States, lost property and deaths recorded by the insurance company is US $ 142.3 billion in the five years ending in 2003, but the total profit in the same period was $ 68.4 billion US, as a result of the float.

The basic principle of insurance
In the insurance world there are six basic principles that must be met, namely :
  • Insurable interest right to insure arising out of a financial relationship between the insured and the insured legally recognized.
  • Utmost good faith An action to disclose accurate and complete, all facts material (material fact) about something that will be insured, whether requested or not. The meaning is: the insurer must honestly explain everything clearly about the extent of the terms / conditions of the insurer and the insured must also provide clear and accurate information on the object or the interests of the insured.
  • Proximate cause means the active, efficient cause that chain of events that brings about a result without the intervention of any force started and working actively from a new and independent source.
  • Indemnity A mechanism in which the insurer to provide financial compensation to put the insured in a financial position which he had prior to the loss (Commercial code article 252, 253 and reaffirmed in article 278).
  • Subrogation transfer of demand from the insured to the insurer after the claim is paid.
  • Contribution The right person to invite the other person equally bear, but do not have the same obligations to the insured to participate in providing indemnity.
refusal of insurance
Some people think of insurance as a form of betting that is valid for the period of the policy. Insurance companies are betting that the property buyer will not be lost when the buyer pays the money. The difference in the fees paid to an insurance company against the amount they can receive when the accident occurred about the same as if someone bet on horse racing (eg, 10-to-1). For this reason, some religious groups, including the Amish avoid insurance and depend on the support received by their communities when disasters occur. In the community and supports a close relationship in which the people can help each other to rebuild the lost property, this plan can work. Most people can not effectively support the system as above and this system will not work for large risks.

Profit Insurance Companies Should Known
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