What do you mean by Insurance?

one of the main characteristics of business is Risk and Uncertainty.

The traders or business company seeks a solution from Risk and Uncertainty with the help of insurance.



He can do business with the super certainty for insuring his business.

So, we can say that insurance is one type of contact and insurer pays a specified premium for organized indemnity due to unfavourable events and conditions.

So, from the above discussion, it appears that people try to protect their life and business organization by which that is basically called insurance.