uncertain events like theft‚ fire‚ accident‚ etc. Insurance is a financial service for collecting the savings of public and providing them with risk coverage. The main function of insurance is to provide protection against the possible chances of generating losses. It eliminates worries and miseries of losses by destruction of property and death. It also provides capital to the society as the funds accumulated are invested in productive heads. Insurance comes under the service sector and while marketing
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In developed countries the size of the insurance market is about eight to twelve percent of the GDP. In the United States the assets managed by the insurance sector are higher than the assets of the banking sector. This is one of the most important pillar of the economy and financial system. At the macroeconomic point of view‚ level of insurance increases the financial stability of the economy‚ reduce uncertainty by enabling effective risk management‚ and support economic activity and stimulate
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History of Health Insurance Medical cost has become very pricey and the United States did not always have health insurance. There are millions of people uninsured and its causing a heated debate in the United States. But does anyone know the history of health insurance and how it came about or even how has it become a big issue in the United States? The American life insurance system was established in the mid-1700s. But health insurance did not merge until 1850 when the Franklin Health
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GEICO was founded in 1936 by Leo Goodwin‚ Sr. and his wife Lillian to provide auto insurance directly to federal government employees and their families.[2] Since 1925‚ Goodwin had worked for USAA‚ an insurer which specialized in insuring only military personnel; he decided to start his own company after rising as far as a civilian could go in USAA ’s military-dominated hierarchy. Based on Goodwin ’s experience at USAA‚ GEICO ’s original business model was predicated on the assumption that federal
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What Is a Dental Insurance Most extreme Advantage? Did you ever need to ask "what is a dental insurance most extreme advantage" when you found that your dental insurance did not cover something and you are left with an extensive dental bill? Then again‚ did you ever observe that you required a considerable amount of dental work to get back fit as a fiddle‚ yet the insurance scope was route shy of what you required? This is because of your yearly "Greatest Advantage". There are a couple arranges
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have car insurance in two different states‚ if you have multiple cars. Typically‚ it involves different policies. People who spend part of their time in a second state often keep a vehicle there‚ and register and insure it there as well. Most states will require insurance when registering a vehicle in the state. For the most part‚ you should register and insure your vehicle in the state where it is most often driven. Your car’s physical location is most important to your insurance company.
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Economics & Business: Opportunities and Challenges of Insurance Industry 1. Summary This report will provide an overview of the Indonesian economy and society‚ detailed insight on opportunities and challenges in the Indonesian insurance industry information. We introduced the industry’s history with great development‚ and it main challenges will face in Indonesia. Regulations and capital requirements are challenges. Life sector and growing GDP provide tremendous potential. Other prosperous
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8 Car Insurance Myths From the old fiction on red cars costing more to insure‚ to the one about rates reducing when you turn 25‚ to the idea that full insurance coverage means you can get another car after an accident‚ myths about car insurance abound. But how do you tell between truth and fiction? A good place to start is by puncturing some common myths that could save you some cash. 1. My rates will increase if I get a traffic ticket. Not always‚ here’s how it works‚ companies only request for
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1 INTRODUCTION 1.1 Concept of Risk The word risk is certainly used frequently in everyday conversation and seems to be well understood. Risk implies some form of uncertainty about an outcome in a given situation. An event might occur and if it does‚ the outcome is not favourable to us. Risk can be contrasted with the word chance which implies some doubt about the outcome in a given situation; the difference is that the outcome may also be favourable e.g. risk of an accident‚ chance
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Prospects for Evolution of Takaful in the 21st Century by Omar Fisher and Dawood Y.Taylor | | (Copyright and reserved by Fellows and President of Havard University‚ Mass ‚ USA . April 2000) | | | | | | | | | | | | | | | | | | | | Introduction | | According to the world Bank Development Report 2000‚ the earth’s human population is approaching 6 billion‚ of which upwards of 25% are practicing Muslims who adhere to one of the ancient Abrahamic faiths-Islam
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