Insurance - Revision history

DavidB4-bot: /* See also */clean up & uniformity

2016-07-13T14:22:14Z

‎See also: clean up & uniformity

JDano: /* See Also */ clean up

2016-03-03T06:07:41Z

‎See Also: clean up

Conservative: Reverted edits by Berning (talk) to last revision by TheAmericanRedoubt

2015-11-04T16:41:16Z

Reverted edits by Berning (talk) to last revision by TheAmericanRedoubt

Berning at 13:21, November 4, 2015

2015-11-04T13:21:14Z

Berning: Expanded insurance

2015-11-04T13:17:41Z

Expanded insurance

TheAmericanRedoubt at 08:02, December 10, 2014

2014-12-10T08:02:07Z

Wschact: add cat

2012-07-09T15:40:22Z

add cat

Ferret: Unstubify

2008-01-06T02:11:41Z

Unstubify

DeanS: undeadend

2007-10-01T18:00:47Z

undeadend

Aziraphale: categorize

2007-07-20T16:57:28Z

categorize

@@ Line 14: / Line 14: @@
 * [[ObamaCare]]
-[[category:economics]]
+[[Category:Economics]]
 [[Category:Insurance]]

@@ Line 8: / Line 8: @@
 In setting the amount of premium to charge the insured, the insurer will assess the size of the risk taking into account the nature of the insured, and then incorporate an allowance for the insured’s overheads, and a contribution to the insurance company’s profits.   Insurers employ [[actuary|actuaries]] to do much of the work in determining the premium for each insured.
-==See Also==
+==See also==
-* [[AIG]]
+* [[Mortgage insurance]]
-* [[Mortgage insurance]], [[Life insurance]]
+* [[Life insurance]]
-* [[Health insurance]]: [[ObamaCare]]
+* [[Health insurance]]
 [[category:economics]]
 [[Category:Insurance]]

← Older revision		Revision as of 16:41, November 4, 2015
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	'''Insurance''' is a financial arrangement whereby a party (the ''insured'') which faces a monetary [[risk]] if a particular event occurs passes that risk to an ''insurer'' in return for the payment of a premium.		'''Insurance''' is a financial arrangement whereby a party (the ''insured'') which faces a monetary [[risk]] if a particular event occurs passes that risk to an ''insurer'' in return for the payment of a premium.
−
−	The very concept of insurance is [[collectivism\|collectivist]] in nature, since everyone pays into a pot, which is redistributed to those in a time of need. It is, therefore, [[liberal]] in nature, as it instills a "brother's keeper" mentality, which is everything [[individualism\|individualistic]], ''true'' [[conservative]]s (and therefore, ''true'' Christians) are about, and should, thus, be rejected. This collectivist mentality will, undoubtedly, lead to [[Socialism]], which '''''always''''' leads to godless [[Communism]] (even though Socialist [[Hitler]] was anti-Communist). If a person experiences a crisis, that's their own darn fault - stay out of my wallet, leeches!

	A common example is motor insurance. A motorist faces several risks, including the theft of their vehicle and damage caused to their vehicle. The motorist will choose to insure themselves against some or all of these risks and approach an insurer. The insurer will quote a premium to insure the nominated risks for a period of usually twelve months. Once insured, the motorist can make a claim against the insurer if any of the nominated risk events occurs. An insurance ''policy'' will set out the exact circumstances in which a claim will be paid, and the way in which the amount of the claim will be determined. In the event of theft, the payment would usually be the market value of the vehicle. In the case of damage to the vehicle the payment will usually cover the necessary repairs, up to the market value of the vehicle.		A common example is motor insurance. A motorist faces several risks, including the theft of their vehicle and damage caused to their vehicle. The motorist will choose to insure themselves against some or all of these risks and approach an insurer. The insurer will quote a premium to insure the nominated risks for a period of usually twelve months. Once insured, the motorist can make a claim against the insurer if any of the nominated risk events occurs. An insurance ''policy'' will set out the exact circumstances in which a claim will be paid, and the way in which the amount of the claim will be determined. In the event of theft, the payment would usually be the market value of the vehicle. In the case of damage to the vehicle the payment will usually cover the necessary repairs, up to the market value of the vehicle.

@@ Line 1: / Line 1: @@
 '''Insurance''' is a financial arrangement whereby a party (the ''insured'') which faces a monetary [[risk]] if a particular event occurs passes that risk to an ''insurer'' in return for the payment of a premium.
-The very concept of insurance is [[collectivism|collectivist]] in nature, since everyone pays into a pot, which is redistributed to those in a time of need. It is, therefore, [[liberal]] in nature, as it instills a "brother's keeper" mentality, which is everything [[individualism|individualistic]], ''true'' [[conservative]]s (and therefore, ''true'' Christians) are about, and should, thus, be rejected. If a person experiences a crisis, that's their own darn fault - stay out of my wallet, leeches!
+The very concept of insurance is [[collectivism|collectivist]] in nature, since everyone pays into a pot, which is redistributed to those in a time of need. It is, therefore, [[liberal]] in nature, as it instills a "brother's keeper" mentality, which is everything [[individualism|individualistic]], ''true'' [[conservative]]s (and therefore, ''true'' Christians) are about, and should, thus, be rejected. This collectivist mentality will, undoubtedly, lead to [[Socialism]], which '''''always''''' leads to godless [[Communism]] (even though Socialist [[Hitler]] was anti-Communist). If a person experiences a crisis, that's their own darn fault - stay out of my wallet, leeches!
 A common example is motor insurance.  A motorist faces several risks, including the theft of their vehicle and damage caused to their vehicle.  The motorist will choose to insure themselves against some or all of these risks and approach an insurer.  The insurer will quote a premium to insure the nominated risks for a period of usually twelve months.  Once insured, the motorist can make a claim against the insurer if any of the nominated risk events occurs.  An insurance ''policy'' will set out the exact circumstances in which a claim will be paid, and the way in which the amount of the claim will be determined.  In the event of theft, the payment would usually be the market value of the vehicle.  In the case of damage to the vehicle the payment will usually cover the necessary repairs, up to the market value of the vehicle.

← Older revision		Revision as of 13:17, November 4, 2015
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	'''Insurance''' is a financial arrangement whereby a party (the ''insured'') which faces a monetary [[risk]] if a particular event occurs passes that risk to an ''insurer'' in return for the payment of a premium.		'''Insurance''' is a financial arrangement whereby a party (the ''insured'') which faces a monetary [[risk]] if a particular event occurs passes that risk to an ''insurer'' in return for the payment of a premium.
		+
		+	The very concept of insurance is [[collectivism\|collectivist]] in nature, since everyone pays into a pot, which is redistributed to those in a time of need. It is, therefore, [[liberal]] in nature, as it instills a "brother's keeper" mentality, which is everything [[individualism\|individualistic]], ''true'' [[conservative]]s (and therefore, ''true'' Christians) are about, and should, thus, be rejected. If a person experiences a crisis, that's their own darn fault - stay out of my wallet, leeches!

	A common example is motor insurance. A motorist faces several risks, including the theft of their vehicle and damage caused to their vehicle. The motorist will choose to insure themselves against some or all of these risks and approach an insurer. The insurer will quote a premium to insure the nominated risks for a period of usually twelve months. Once insured, the motorist can make a claim against the insurer if any of the nominated risk events occurs. An insurance ''policy'' will set out the exact circumstances in which a claim will be paid, and the way in which the amount of the claim will be determined. In the event of theft, the payment would usually be the market value of the vehicle. In the case of damage to the vehicle the payment will usually cover the necessary repairs, up to the market value of the vehicle.		A common example is motor insurance. A motorist faces several risks, including the theft of their vehicle and damage caused to their vehicle. The motorist will choose to insure themselves against some or all of these risks and approach an insurer. The insurer will quote a premium to insure the nominated risks for a period of usually twelve months. Once insured, the motorist can make a claim against the insurer if any of the nominated risk events occurs. An insurance ''policy'' will set out the exact circumstances in which a claim will be paid, and the way in which the amount of the claim will be determined. In the event of theft, the payment would usually be the market value of the vehicle. In the case of damage to the vehicle the payment will usually cover the necessary repairs, up to the market value of the vehicle.

← Older revision		Revision as of 15:40, July 9, 2012
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	[[category:economics]]		[[category:economics]]
		+	[[Category:Insurance]]

← Older revision		Revision as of 02:11, January 6, 2008
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−	'''Insurance''' is a ~~system of mutual~~ [[risk]] ~~pooling~~. A ~~group~~ of ~~payers guarantee each other~~ against ~~financial harm~~.	+	'''Insurance''' is a financial arrangement whereby a party (the ''insured'') which faces a monetary [[risk]] if a particular event occurs passes that risk to an ''insurer'' in return for the payment of a premium.
		+
		+	A common example is motor insurance. A motorist faces several risks, including the theft of their vehicle and damage caused to their vehicle. The motorist will choose to insure themselves against some or all of these risks and approach an insurer. The insurer will quote a premium to insure the nominated risks for a period of usually twelve months. Once insured, the motorist can make a claim against the insurer if any of the nominated risk events occurs. An insurance ''policy'' will set out the exact circumstances in which a claim will be paid, and the way in which the amount of the claim will be determined. In the event of theft, the payment would usually be the market value of the vehicle. In the case of damage to the vehicle the payment will usually cover the necessary repairs, up to the market value of the vehicle.
		+	Other forms of insurance include building, marine, aviation and business. A special case is life insurance where the insured’s dependants receive a claim payment on the death of the insured.
		+
		+	Insurance is usually provided by either a [[mutual]] organisation, or an insurance [[company]]. In a mutual, the insured parties pool their risks together. In an insurance company the risks are passed to the company’s shareholders. In either case, the insurer must hold [[reserves]] of [[capital]] to provide a level of certainty that it will be able to meet all future claim payments arising from the risks it has insured.
		+
		+	In setting the amount of premium to charge the insured, the insurer will assess the size of the risk taking into account the nature of the insured, and then incorporate an allowance for the insured’s overheads, and a contribution to the insurance company’s profits. Insurers employ [[actuary\|actuaries]] to do much of the work in determining the premium for each insured.

	[[category:economics]]		[[category:economics]]

← Older revision		Revision as of 18:00, October 1, 2007
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−	'''Insurance''' is a system of mutual risk pooling. A group of payers guarantee each other against financial harm.	+	'''Insurance''' is a system of mutual [[risk]] pooling. A group of payers guarantee each other against financial harm.

	[[category:economics]]		[[category:economics]]

← Older revision		Revision as of 16:57, July 20, 2007
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	'''Insurance''' is a system of mutual risk pooling. A group of payers guarantee each other against financial harm.		'''Insurance''' is a system of mutual risk pooling. A group of payers guarantee each other against financial harm.
		+
		+	[[category:economics]]