The insurance industry refers to the sector of the economy that provides risk management and protection against financial loss through the sale of insurance products. It encompasses various companies and entities that offer policies in various categories, such as life, health, property, casualty, and liability insurance. The primary function of the insurance industry is to pool funds from many policyholders to mitigate the financial impact of unforeseen events, such as accidents, natural disasters, illness, or death. This industry is regulated by government entities to ensure solvency, fairness in policy offerings, and protection of policyholders’ interests. The insurance industry plays a critical role in the economy by promoting financial stability, encouraging investment, and supporting risk-taking in businesses and personal endeavors.
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…