Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Insurance is define as a process of , transfer ,spread and scattering of risk by certain mechanism to complete this process ?

such as reinsurance , retrocession and the insured himself . The question is how the insured involved or participate in the process .

user-image
Question added by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company
Date Posted: 2020/11/19

Of course, any entrepreneur tries to find the best solution when choosing insurance for his business. But there are a number of difficulties in this matter. To save time and get the perfect insurance solution, you can always visit the business insurance consultation website. The specialists of this service will help you quickly find an inexpensive insurance solution that will cover all your possible risks.

Mamoun elbaghir abdalla mhamad Eltayeb
by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

 The insured is involved and participate in insurance process as define as transfer , spread and scattering of risk by the policy exess or deductibles that initially imposed upon him , which consider as amount or portion deducted from the total amount of claim , therefor the insured be the first who bear part of the claim and then the insurer , reinsurers and retocessionaire will follow.

 That in overall mean that , the insurance process scatter and distribute the risk to small amounts in a technical way where the insured , insurer , reinsurers and retrocessionaire can be able to bear it .

Very best wishes .

More Questions Like This