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Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment.
It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.
An insurer, or insurance carrier, is selling the insurance; the insured, or policyholder, is the person or entity
buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is
called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete
field of study and practice.

Link: http://en.wikipedia.org/wiki/Insurance

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Fahad Hameed

Fahad Hashmi is one of the known Software Engineer and blogger likes to blog about design resources. He is passionate about collecting the awe-inspiring design tools, to help designers.He blogs only for Designers & Photographers.

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