Insurance involves pooling funds from many insured entities (known as exposures) to pay for the losses that some may incur. The insured entities are therefore protected from risk for a fee, with the fee being dependent upon the frequency and severity of the event occurring. In order to be insurable, the risk insured against must meet certain characteristics in order to be an insurable risk. Insurance is a commercial enterprise and a major part of the financial services industry.

Types of insurance:
Auto insurance
Home insurance
Health insurance
Accident, sickness and unemployment insurance
Casualty insurance
Life insurance
Property insurance
Liability insurance
Credit insurance
Closed community self-insurance

How and Where to Apply For an Insurance