This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (May 2008) Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. Contents 1 Principles of insurance 2 Indemnification 3 Insurers' business model 3.1 Underwriting and investing 3.2 Claims 4 History of insurance 5 Types of insurance 5.1 Auto insurance 5.2 Home insurance 5.3 Health 5.4 Disability 5.5 Casualty 5.6 Life 5.7 Property 5.8 Liability 5.9 Credit 5.10 Other types 5.11 Insurance financing vehicles 5.12 Closed community self-insurance 6 Insurance companies 7 Global insurance industry 8 Controversies 8.1 Insurance insulates too much 8.2 Complexity of insurance policy contracts 8.3 Redlining 8.4 Insurance patents 8.5 The insurance industry and rent seeking 8.6 Criticism of insurance companies 9 Glossary 10 See also 11

Resolved Question: What would be the highest insurance group car i could insure when im 17? (Answers: 3) (Comments: 0)

What would be the highest insurance group car i could insure when im 17? like the 1-20 ratings?

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Resolved Question: What is a fast car that is in a relativley low insurance group? (Answers: 11) (Comments: 0)

I was looking at a 1.6 Honda Civic Type S as that is insurance group 6, but they seem to be hard to come by. They are mostly 2.0 and that is group 11 which is too high as I am only 19. Budget is around £3500. Any ideas welcome. Can go over budget and put the car on finance for the right car.

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Resolved Question: What would be the best insurance group to go in, if I am a first time car owner/driver? (Answers: 6) (Comments: 0)

Hi, I am going to turn 17 in the autumn and I am looking for a first (used) car. But I am unsure about which insurance group is the best to go in? Someone told me I could get insured fairly cheaply on Group 5? I would like a reliable car, at the moment I am looking at Ford Focus, Volkswagen Polo, and Fiat Punto. I want it to be fairly new, and look good. I can spend up to £2000. Hope you can help,

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