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Insurance Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. Insurer, in economics, is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. Insurance brokers commonly work for either an individual looking for the coverage that suits them best, or with companies. Brokers act like advisors, providing the best service and benefits that they believe would fit their clientele. |
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Sutherland Shire Insurance Brokers Business Directory and Community Guide |