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buy 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. Enjoy an extra 15% off your home insurance when you quote and 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. BBC News Online offers some guidance. If the coverage is unique, the insured will pay a correspondingly higher premium. Lloyd's of London often accepts unique coverages. (e. g. Home healt health insurance lead home insurance rates discount travel insurance cheap low cost health insurance best term life insurance instant auto insurance quotes medical insurance billing software general insurance car insurance ireland individual medical insurance high risk car insurance aaa car insurance affordable family health insurance virginia auto insurance apartment insurance car discount insurance car insurance canada aaa auto insurance instant life insurance quote compare home insurance auto discount insurance group travel insurance auto insurance in ca student dental insurance aig car insurance instant term life insurance quote insurance life quote term individual dental insurance plans cheap motor car insurance |