Free Instant Auto Insurance Quote: Definition of insurance
Definition of insurance
Have defined the word as many words as insurance.
Mark S. Dorman: Insurance is a financial management to distribute the value of the loss would not expect.
Frederick G. Crane: Insurance is to manage risk by collecting losses. All that happened. The value of the loss will be the average between the parties to join all the risk.
Research and Technical Subcommittee. Association of Insurance: Insurance is a person who acts as a collateral party to the other party guests. The promise that he would not have suffered from the disaster that will occur in the future. Which cause the loss or damage to life and his property? The party who guarantees to pay compensation to the amount and conditions agreed upon, or cause the property insured is returned in good condition or close to the original by the collateral will receive compensation from another party number. Agreed.
According to the Civil and Commercial Code, Section 861 provided that
"Anwar is an insurance contract is a contract which one party agrees to compensate for losses or the amount of money in case if the casualty. Future events or otherwise, as specified in the contract. In this respect another person agrees to remit called. The premium. "
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