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Insurance | Definition, History, Types, Companies, Facts | Britannica . . . insurance, a system under which the insurer, for a consideration usually agreed upon in advance, promises to reimburse the insured or to render services to the insured in the event that certain accidental occurrences result in losses during a given period It thus is a method of coping with risk
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Insurance - Wikipedia Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss