Risk Management 101: The Fundamentals of Insurance

Introduction

Understanding the basics of risk management and insurance is crucial in today’s uncertain world. In this comprehensive guide, we will delve into the fundamentals of insurance, exploring what it is, how it works, and why it’s essential for individuals and businesses alike.

What is Risk Management?

Defining Risk

Types of Risks

The Role of Insurance

Introduction to Insurance

Principles of Insurance

Principle of Utmost Good Faith

Principle of Insurable Interest

Principle of Indemnity

Principle of Contribution

Principle of Subrogation

Types of Insurance

Life Insurance

Health Insurance

Property Insurance

Liability Insurance

Auto Insurance

How Insurance Works

Underwriting

Premiums

Leave a Comment