Insurance is a financial arrangement that provides protection against potential future losses or damages in exchange for regular payments known as premiums. It operates on the principle of risk pooling, where individuals or entities share their risks with a larger group, allowing the financial burden of unexpected events to be distributed across many policyholders.
When an insured event occurs, such as an accident, illness, or property damage, the insurer compensates the policyholder as specified in the insurance contract. This compensation can help cover medical expenses, repair costs, or loss of income, among other financial impacts.
Insurance comes in various forms, including health insurance, life insurance, auto insurance, property insurance, and liability insurance, each serving specific purposes and covering different types of risks. By mitigating financial uncertainties, insurance provides peace of mind to individuals and businesses, enabling them to manage potential risks more effectively.
DKV, Mapfre, and AXA face a critical decision on joining Spain's revamped healthcare contract for civil servants. The contract, offered by Muface, proposes a substantial budget of €4.808 billion, increased…