The definition of insurance is an agreement entered into by two parties, where one party is obliged to pay a fee, and the second party is obliged to provide full liability to the payer in the event of any occurrence of the first party or his / her property in accordance with the agreement entered into.
There are two badges involved here, namely the badge that channel the risk of being referred to as the "Insured" and the body receiving the risk of being called "The Insurer". While the agreement between these two bodies is called the policy.
In insurance, there is a policy that contains a legal contral, describing any protected terms and conditions. The cost paid by the "Insured" to the "Insurer" for the risk incurred is called "Premium". It is usually determined by the insurer for future claimable funds, administrative costs and profits. For more details about insurance definition, see the following example.
For example: Two newly married couples, then bought a house for Rp 100 Million. Then they realized that losing the house could result in financial losses and disasters such as fires:
Related: A complete description of fire insurance
From that awareness, they take insurance protection in the form of homeownership policies. Well, the policy will pay for the replacement or repair of their home if one day a disaster occurs. For their own costs, insurance is about their premium of Rp 1 Million per month. That way, the risk of losing a home has been channeled from homeowners to an insurance company
The definition of insurance in accordance with the law of trade law (KUHD), about insurance or coverage of its ages, Chapter 9, article 246: 3
Insurers use actuarial science to calculate the risk they estimate. Actuarial science uses mathematics, especially statistics and probabilities, which can be used to protect the risk of future estimates with reliable provisions.
For example, many people buy a homeowner's insurance policy and then pay a premium to an insurance company. When a protected loss occurs, the employer must pay the claim. For some insured, the insurance benefits they receive are far greater than the money they have paid to the insurer. Others may not claim the claim. If averaged from all policies sold, total claims paid out lower than the total premium paid to the insured, with the difference being the cost and the profit.
If you do not understand the ins and outs of insurance, please click here
Maybe that's all I can say, less and more I apologize. Thank you
"Term is invested" usually refers to everything that gets protection.
The first insurance definition
Whereas according to Law No. 2 of 1992 on the affairs of a business is an agreement between two or more parties, where the insurer binds to the insured, by accepting the insurance premium, to provide replacement to the insured for loss, damage or loss of expected profit or third party liability which may be will be liable for responsibility, arising out of an uncertain event, or giving a payment based on the death or life of a person insured.There are two badges involved here, namely the badge that channel the risk of being referred to as the "Insured" and the body receiving the risk of being called "The Insurer". While the agreement between these two bodies is called the policy.
In insurance, there is a policy that contains a legal contral, describing any protected terms and conditions. The cost paid by the "Insured" to the "Insurer" for the risk incurred is called "Premium". It is usually determined by the insurer for future claimable funds, administrative costs and profits. For more details about insurance definition, see the following example.
For example: Two newly married couples, then bought a house for Rp 100 Million. Then they realized that losing the house could result in financial losses and disasters such as fires:
Related: A complete description of fire insurance
From that awareness, they take insurance protection in the form of homeownership policies. Well, the policy will pay for the replacement or repair of their home if one day a disaster occurs. For their own costs, insurance is about their premium of Rp 1 Million per month. That way, the risk of losing a home has been channeled from homeowners to an insurance company
The second definition of insurance
"Insurance or insurance is an agreement in which an undertaking binds to an insured person, by accepting a premium, to compensate him for any loss, damage or loss of expected profits, which he may suffer due to an undetermined event"Once we know the insight of insurance, we will try to learn about the science used by the insurer from the insurance transaction. Here's the explanation
Insurers use actuarial science to calculate the risk they estimate. Actuarial science uses mathematics, especially statistics and probabilities, which can be used to protect the risk of future estimates with reliable provisions.
For example, many people buy a homeowner's insurance policy and then pay a premium to an insurance company. When a protected loss occurs, the employer must pay the claim. For some insured, the insurance benefits they receive are far greater than the money they have paid to the insurer. Others may not claim the claim. If averaged from all policies sold, total claims paid out lower than the total premium paid to the insured, with the difference being the cost and the profit.
If you do not understand the ins and outs of insurance, please click here
Maybe that's all I can say, less and more I apologize. Thank you
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