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Introduction - Insurance | 11th Commerce : Insurance

Chapter: 11th Commerce : Insurance

Insurance

Every business is exposed to different types of risks such as fire, theft, accident etc.

INSURANCE

Introduction

“Uncertainty is inherent in human life”

Every business is exposed to different types of risks such as fire, theft, accident etc. Some of the risks can be transferred to specialized institution known as Insurance Companies. Insurance   substitute    this    uncertainty by providing financial compensation. Insurance is nothing but socialization of risks. Insurance companies indemnify the loss of the insured.


 

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11th Commerce : Insurance : Insurance | Introduction


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