Insurance
Insurance is an agreement in which a person (the insurer) agrees to repay another subject (the insured) for damages caused or to pay capital or payment upon the occurrence of an incident involving human life, in exchange for payment of an amount of money known as a premium.
As a consequence, the insurance contract has a secondary purpose: - To avoid or reduce patrimonial risks.
- To "insure" the resources to meet any financial needs associated with people's lives (death or survival).
The purpose of an insurance policy is to pass liability to an insurance provider to avoid or at least minimize the negative economic effects associated with it.
Finally, it may be a question of the possibility of being called upon to compensate for the damage caused to others, as occurs in civil liability policies.
