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Insurance – What is it?

Comments (0) Insurance

  • Transfer Risk to Insurance Company
  • Governed by Insurance Contract – Policy
  • Payments – Premiums
  • Claim Assessed According to Terms of Policy
  • Life Insurance V/S General Insurance

Insurance – Where it all began?

1688  London – Investors provide financial guarantee to merchants’ sea cargo at Edward Lloyd’s coffeehouse in London.

1752 Philadelphia – Benjamin Franklin founded contributorship for insurance of houses lost by fire.

Impact of Insurance – Influence of insurance in politics, science and the arts in the last century.

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