Insurance is a policy or contract that aids in protecting the insurer from financial losses. It is a form of risk management that is primarily used to hedge against the risk of a contingent or uncertain loss.
It protects against property damage, personal injury, death, theft, and legal liability. Besides this, it provides insurance coverage for death, disability, retirement benefits, and medical expenses. Moreover, it is responsible for providing customer service and ensuring that claims are processed in a timely and efficient manner.
