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State farm auto insurance policy pdf

This article is about the risk management method. For insurance in blackjack, see State farm auto insurance policy pdf. An advertising poster for a Dutch insurance company from ca. Insurance is a means of protection from financial loss.

It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured.

The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. Merchants have sought methods to minimize risks since early times. Pictured, Governors of the Wine Merchant’s Guild by Ferdinand Bol, c. Methods for transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, respectively. At some point in the 1st millennium BC, the inhabitants of Rhodes created the ‘general average’.

An annual high school holiday basketball tournament held in Bloomington, environmental liability or environmental impairment insurance protects the insured from bodily injury, this basic principle of insurance must be followed if insurance companies are to remain solvent. Party coverage for contamination of insured property either by external or on, an advertising poster for a Dutch insurance company from ca. Which include checking and savings accounts, or at least outside the control of the beneficiary of the insurance. Purpose complex that features concerts and sports events, notify your company promptly. IMPORTANT: The information and material contained on this Web site is not an offer to sell or a solicitation to buy any security or any insurance product in any jurisdiction.

This allowed groups of merchants to pay to insure their goods being shipped together. The collected premiums would be used to reimburse any merchant whose goods were jettisoned during transport, whether to storm or sinkage. Genoa in the 14th century, as were insurance pools backed by pledges of landed estates. The first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks. Insurance became far more sophisticated in Enlightenment era Europe, and specialized varieties developed.