group travel insurance
group travel insuranceThe examples and perspective in this article or section may not represent a worldwide view. Please improve the article or discuss the issue on the talk page.Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care. Principles of insuranceFrom the point of view of the insurance company there are four general criteria for deciding whether to insure events or not. Simple Travel Insurance. 1. there must be a larger number of similar objects so the financial outcome of insuring the pool of exposures is predictable. Therefore they can calculate a "fair" premium. 2. the losses have to be accidental and unintentional from the point of view of the insured. Car insurance, Home insurance, Travel insurance, Personal loans. 3. the losses must be measurable, identifiable in location, time, and be definate. They also want the losses to cause economic hardship. That is, so the insured has an incentive to protect and preserve the property to minimize the probabilty that the losses occur. 4. If your group consists of ten people or more traveling to the same destination, Losses must be uncertain. The rate and distribution of losses must be predictable: To set premiums (prices) insurers must be able to estimate them accurately. This is done using the Law of Large Numbers which states that: The larger the number of homogenous exposures considered, the more closely the losses reported will equal the underlying probability of loss. Group Travel Insurance Customized Travel Insurance. If the coverage is unique, the insured will pay a correspondingly higher premium. Lloyd's of London often accepts unique coverages. (e. g. Home best car insurance quote affordable individual health insurance compare home insurance self employed medical insurance affordable life insurance quote car insurance quotation aaa auto insurance healt low cost travel insurance cruise travel insurance health insurance in texas high risk car insurance buy car insurance buy travel insurance insurance lead generation cheap travel insurance uk medical insurance billing medical insurance billing software commercial car insurance virginia auto insurance car insurance los angeles car insurance houston group travel insurance long term disability insurance life insurance agent cheap car insurance company insurance quotes auto ladies car insurance insurance life quote term life insurance company |