Insurance | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-06-27

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Insurance


00:01:30 1 History
00:01:39 1.1 Early methods
00:03:19 1.2 Modern insurance
00:06:45 2 Principles
00:07:29 2.1 Insurability
00:11:59 2.2 Legal
00:14:13 2.3 Indemnification
00:17:22 2.4 Exclusions
00:17:48 3 Social effects
00:19:13 3.1 Methods of insurance
00:20:10 4 Insurers' business model
00:20:20 4.1 Underwriting and investing
00:24:47 4.2 Claims
00:27:22 4.3 Marketing
00:28:04 5 Types
00:29:27 5.1 Auto insurance
00:30:07 5.2 Gap insurance
00:30:49 5.3 Health insurance
00:31:21 5.4 Income protection insurance
00:32:57 5.5 Casualty insurance
00:34:35 5.6 Life insurance
00:36:52 5.7 Burial insurance
00:37:31 5.8 Property
00:42:55 5.9 Liability
00:46:30 5.10 Credit
00:47:26 5.11 Other types
00:52:19 5.12 Insurance financing vehicles
00:56:26 5.13 Closed community and governmental self-insurance
00:59:19 6 Insurance companies
01:00:31 6.1 Mutual versus proprietary
01:01:13 6.2 Reinsurance companies
01:01:44 6.3 Captive insurance Companies
01:03:50 6.4 Other forms
01:04:09 6.5 Admitted versus non-admitted
01:04:42 6.6 Insurance consultants
01:05:43 6.7 Financial stability and rating
01:06:52 7 Across the world
01:09:21 7.1 Regulatory differences
01:11:53 8 Controversies
01:12:02 8.1 Does not reduce the risk
01:13:06 8.2 Moral hazard
01:14:21 8.3 Complexity of insurance policy contracts
01:16:59 8.4 Limited consumer benefits
01:17:52 8.5 Redlining
01:21:24 8.6 Insurance patents
01:23:21 8.7 Insurance on demand
01:23:51 8.8 Insurance industry and rent-seeking
01:24:50 8.9 Religious concerns
01:25:49 9 See also
01:26:11 10 Notes
01:26:20 11 Bibliography
01:26:46 12 External links



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SUMMARY
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Insurance is a means of protection from financial loss.  It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.
An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter.  A person or entity who buys insurance is known as an insured or as a policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss.  The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship.
The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the Policyholder for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. The insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risk, especially if the primary insurer deems the risk too large for it to carry.