Nikhil Kar
Nikhil Kar answered
Hi Insurance is a promise or an assurance by the insurer to the insured to compensate for specific potential future losses in exchange for periodic payments (premiums). Insurance is designed to protect individuals, entity, firms, etc. Against unexpected financial losses. Some insurance forms are mandatory by law while others though extremely useful like life and … Read more
Nikhil Kar
Nikhil Kar answered
Hi Marine insurance is necessary for firms or businesses involved in sea business. A marine insurance policy can save the firm from huge financial losses in case of unforeseen accidents caused by nature or man. Similarly marine insurance together with a cargo Insurance policy covers your goods, freight and other interests against … Read more
Nikhil Kar
Nikhil Kar answered question
Hi Insurance is a form of risk management or compensation against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk or loss, from insured to insurer, in exchange for payment.  Insurance, the most important ones being health insurance and life insurance is necessary for … Read more
Nikhil Kar
Nikhil Kar answered question
Insurance is necessary for every individual especially for those who has a family or dependents in order to assure financial security to them during critical times. Life is extremely unpredictable and unfortunate incidents can strike anyone, anytime. Thus with a insurance policy one can be rest assured of his/her family‚Äôs financial independence. Similar is the … Read more