| |
| Insurance Guide | | |

|
Un title page
|
| | Controversies |
| | | Closed
community self-insurance |
Some communities prefer to create virtual insurance amongst themselves by other
means than contractual risk transfer, which assigns explicit numerical values
to risk. A number of religious groups, including the Amish and some Muslim groups,
depend on support provided by their communities when disasters strike. The risk
presented by any given person is assumed collectively by the community who all
bear the cost of rebuilding lost property and supporting people whose needs are
suddenly greater after a loss of some kind. In supportive communities where others
can be trusted to follow community leaders, this tacit form of insurance can work.
In this manner the community can even out the extreme differences in insurability
that exist among its members. Some further justification is also provided by invoking
the moral hazard of explicit insurance contracts. Reference: www.wikipedia.org
| | | |
| |
|
Auto
Insurance 12 December,2003 Automobile
Insurance  known
in the UK as motor insurance, is probably the most common form of insurance and
may cover both legal liability claims against the driver and loss of or damage
to the insured's vehicle itself. | |