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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 insurance


Losses must be uncertain.

The rate of losses must be relatively predictable: In order 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. If the coverage is unique, the insured will pay a correspondingly higher premium. Lloyd's of London often accepts unique coverages. (e.g., the insuring of Tina Turner's legs and Jennifer Lopez's buttocks)

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Mais um aviso p/quem usa #Facebook - BEWARE: Insurance Company Checks Your Status On Facebook http://ow.ly/Eo3B #socialmedia
TSSVeloso (Tiago) Sun, 22 Nov 2009 02:01:08 -0000
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Why are the republicans so afraid to discuss health insurance reform?
jojobo1 (Helen Marhofke) Sun, 22 Nov 2009 02:01:01 -0000
Why are the republicans so afraid to discuss health insurance reform?
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CmfcknW (c)mfckn(w ☠) Sun, 22 Nov 2009 02:00:45 -0000
Smiling on
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