What is Insurance??

2024-02-25

#insurance
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Insurance is a financial product sold by insurance companies to safeguard you and / or your property against the risk of loss, damage or theft.
When you buy a policy you make regular payments, known as premiums, to the insurer. If you make a claim your insurer will pay out for the loss that is covered under the policy.

While it is a good idea to make sure you are not paying for insurance that you don’t need, you should always think about what would happen if disaster struck and you didn’t have cover to protect you.

You can buy insurance policies for many aspects of your life, for example for your health, home, car, business, or retirement.

An insurance policy is the contract that you take out with an insurer to protect you against specific risks under agreed terms.

How it works?
When you buy a policy you make regular payments, known as premiums, to the insurer. If you make a claim your insurer will pay out for the loss that is covered under the policy.

If you don’t make a claim, you won’t get your money back; instead it is pooled with the premiums of other policyholders who have taken out insurance with the same insurance company. If you make a claim the money comes from the pool of policyholders’ premiums.

Choose Nautilus Assure
We offer Digital Businesses and Professionals access to a global network of Insurance offerings by licensed insurance entities.

You can gain access to a variety of insurance products such as Medical Malpractice Insurance, Digital asset insurance, Directors and Officers insurance, and Cyber Liability insurance, on a single platform.

Source: Association of British Insurers