The What & How of Insurance.

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Almost everyone has car insurance and More people need health insurance. Understanding what type of insurance you need and how the insurance companies work is all out lined in this article below.

Principles of insurance
Commercially insurable risks typically share seven common characteristics.
Indemnification
The technical definition of "indemnity" means to make whole again. There are two types of insurance contracts; 1) an "indemnity" policy and 2) a "pay on behalf" or "on behalf of policy.

Read more on Principles , Indemnification, History , Business model of insurance and lots more.
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This is a very informative article. I certainly learned alot from it. I think knowing the ins and outs of a everyday necessity arms us with the knowledge to keep our costs low.