Insurance companies are generally companies who provide insurance services for clients.
Types of insurance offered include Life insurance Auto insurance, Health insurance, Travel insurance, Dental insurance, etc.
The business dictionary defines it as a Risk-transfer mechanism, which ensures full or partial financial compensation for the damage(s) or loss caused by event(s) which are beyond the control of the insured party. Insurance has been proven to be a form of risk management, which is primarily used to hedge against the risk of an uncertain or contingent loss. Insurance, as defined by Wikipedia, is a means of protection from any kind of loss, be it the loss of life, or of property. An individual who purchases an insurance is known as an insured or a policyholder, while the company that offers an insurance is known as an insurance company, or insurer, or underwriter. These services include protection against car accidents, burglary, house fire, life insurance, health insurance and so on. INSURANCE COMPANIES AND THE TYPES OF SERVICES THEY OFFERĪn insurance company primarily offers insurance services to clients.