The
term "business" has at least three
usages, depending on the scope - the
singular usage (above) to mean a
particular company or corporation, the
generalized usage to refer to a
particular market sector, such as "the
music business" and compound forms such
as agribusiness, or the broadest
meaning to include all activity by the
community of suppliers of goods and
services.
Business Directory: Insurance (194)
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
