Insurance

Insurance is a system in which a company agrees to pay for certain losses or damages incurred by an individual or organization. The company collects premiums from the individual or organization and, in return, agrees to reimburse them for any losses or damages up to a specific limit.

There are many types of insurance, each designed to protect against a specific kind of loss or damage. The most common types of insurance are health, property, and liability insurance.

Health insurance protects individuals and their families from the high cost of medical care. Property insurance protects individuals and businesses from the financial consequences of damage or loss to their property. And liability insurance is designed to protect individuals and companies from the financial implications of lawsuits and other legal expenses.