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'Insurance is a means of protection from financial loss.  It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or an underwriter.  A person or entity who buys insurance is known as an insured or as a policyholder. The insurance transaction involves the insured assuming a guaranteed and known - relatively small - loss in the form of payment to the insurer in exchange for the insurer\'s promise to compensate the insured in the event of a covered loss.  The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship.The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. A mandatory out-of-pocket expense required by an insurance policy before an insurer will pay a claim is called a deductible (or if required by a health insurance policy, a copayment). The insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risks, especially if the primary insurer deems the risk too large for it to carry.Methods for transferring or distributing risk were practiced by Babylonian, Chinese and Indian traders as long ago as the 3rd and 2nd millennia BC, respectively.[1][2] Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessels capsizing.Codex Hammurabi Law 238 (c. 1755–1750 BC) stipulated that a sea captain, ship-manager, or ship charterer that saved a ship from total loss was only required to pay one-half the value of the ship to the ship-owner.[3][4][5] In the Digesta seu Pandectae (533), the second volume of the codification of laws ordered by Justinian I (527–565) of the Eastern Roman Empire, a legal opinion written by the Roman jurist Paulus at the beginning of the Crisis of the Third Century in 235 AD  was included about the Lex Rhodia ("Rhodian law") that articulates the general average principle of marine insurance established on the island of Rhodes in approximately 1000 to 800 BC as a member of the Doric Hexapolis, plausibly by the Phoenicians during the proposed Dorian invasion and emergence of the purported Sea Peoples during the Greek Dark Ages (c. 1100–c. 750) that led to the proliferation of the Doric Greek dialect.[6][7][8]The law of general average constitutes the fundamental principle that underlies all insurance.[7] In 1816, an archeological excavation in Minya, Egypt (under an Eyalet of the Ottoman Empire) produced a Nerva–Antonine dynasty-era tablet from the ruins of the Temple of Antinous in Antinoöpolis, Aegyptus that prescribed the rules and membership dues of a burial society collegium established in Lanuvium, Italia in approximately 133 AD during the reign of Hadrian (117–138) of the Roman Empire.[7] In 1851, future U.S. Supreme Court Associate Justice Joseph P. Bradley (1870–1892), once employed as an actuary for the Mutual Benefit Life Insurance Company, submitted an article to the Journal of the Institute of Actuaries detailing an historical account of a Severan dynasty-era life table compiled by the Roman jurist Ulpian in approximately 220 AD during the reign of Elagabalus (218–222) that was also included in the Digesta.[9]Concepts of insurance has been also found in 3rd century BCE Hindu scriptures such as Dharmasastra, Arthashastra and Manusmriti.[10] The ancient Greeks had marine loans. Money was advanced on a ship or cargo, to be repaid with large interest if the voyage prospers, but not repaid at all if the ship is lost, the rate of interest being made high enough to pay not only for the use of the capital but for the risk of losing it (fully described by Demosthenes). Loans of this character have ever since been common in maritime lands, under the name of bottomry and respondentia bonds.[11]The direct insurance of sea-risks for a premium paid independently of loans began, as far as is known, in Belgium about A.D. 1300.[11]Separate insurance contracts (i.e., insurance policies not bundled with loans or other kinds of contracts) were invented in Genoa in the 14th century, as were insurance pools backed by pledges of landed estates. The first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks.[12] These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in marine insurance.The earliest known policy of life insurance was made in the Royal Exchange, London, on the 18th of June 1583, for £383, 6s. 8d. for twelve months, on the life of William Gibbons.[11]Insurance became far more sophisticated in Enlightenment era Europe, where specialized varieties developed.Property insurance as we know it today can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren\'s inclusion of a site for "the Insurance Office" in his new plan for London in 1667."[13] A number of attempted fire insurance schemes came to nothing, but in 1681, economist Nicholas Barbon and eleven associates established the first fire insurance company, the "Insurance Office for Houses", at the back of the Royal Exchange to insure brick and frame homes. Initially, 5,000 homes were insured by his Insurance Office.[14]At the same time, the first insurance schemes for the underwriting of business ventures became available. By the end of the seventeenth century, London\'s growth as a centre for trade was increasing due to the demand for marine insurance. In the late 1680s, Edward Lloyd opened a coffee house, which became the meeting place for parties in the shipping industry wishing to insure cargoes and ships, including those willing to underwrite such ventures. These informal beginnings led to the establishment of the insurance market Lloyd\'s of London and several related shipping and insurance businesses.[15]The first life insurance policies were taken out in the early 18th century. The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot and Sir Thomas Allen.[16][17] Upon the same principle, Edward Rowe Mores established the Society for Equitable Assurances on Lives and Survivorship in 1762.It was the world\'s first mutual insurer and it pioneered age based premiums based on mortality rate laying "the framework for scientific insurance practice and development" and "the basis of modern life assurance upon which all life assurance schemes were subsequently based."[18]In the late 19th century "accident insurance" began to become available.[19] The first company to offer accident insurance was the Railway Passengers Assurance Company, formed in 1848 in England to insure against the rising number of fatalities on the nascent railway system.By the late 19th century governments began to initiate national insurance programs against sickness and old age. Germany built on a tradition of welfare programs in Prussia and Saxony that began as early as in the 1840s. In the 1880s Chancellor Otto von Bismarck introduced old age pensions, accident insurance and medical care that formed the basis for Germany\'s welfare state.[20][21] In Britain more extensive legislation was introduced by the Liberal government in the 1911 National Insurance Act. This gave the British working classes the first contributory system of insurance against illness and unemployment.[22] This system was greatly expanded after the Second World War under the influence of the Beveridge Report, to form the first modern welfare state.[20][23]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 an insurable risk, the risk insured against must meet certain characteristics. Insurance as a financial intermediary is a commercial enterprise and a major part of the financial services industry, but individual entities can also self-insure through saving money for possible future losses.[24]Risk which can be insured by private companies typically share seven common characteristics:[25]When a company insures an individual entity, there are basic legal requirements and regulations. Several commonly cited legal principles of insurance include:[26]To "indemnify" means to make whole again, or to be reinstated to the position that one was in, to the extent possible, prior to the happening of a specified event or peril. Accordingly, life insurance is generally not considered to be indemnity insurance, but rather "contingent" insurance (i.e., a claim arises on the occurrence of a specified event). There are generally three types of insurance contracts that seek to indemnify an insured:From an insured\'s standpoint, the result is usually the same: the insurer pays the loss and claims expenses.If the Insured has a "reimbursement" policy, the insured can be required to pay for a loss and then be "reimbursed" by the insurance carrier for the loss and out of pocket costs including, with the permission of the insurer, claim expenses.[27][note 1]Under a "pay on behalf" policy, the insurance carrier would defend and pay a claim on behalf of the insured who would not be out of pocket for anything. Most modern liability insurance is written on the basis of "pay on behalf" language, which enables the insurance carrier to manage and control the claim.Under an "indemnification" policy, the insurance carrier can generally either "reimburse" or "pay on behalf of", whichever is more beneficial to it and the insured in the claim handling process.An entity seeking to transfer risk (an individual, corporation, or association of any type, etc.) becomes the "insured" party once risk is assumed by an "insurer", the insuring party, by means of a contract, called an insurance policy. Generally, an insurance contract includes, at a minimum, the following elements: identification of participating parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage, the particular loss event covered, the amount of coverage (i.e., the amount to be paid to the insured or beneficiary in the event of a loss), and exclusions (events not covered). An insured is thus said to be "indemnified" against the loss covered in the policy.When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium. Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims – in theory for a relatively few claimants – and for overhead costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer\'s profit.Policies typically include a number of exclusions, including typically:Insurers may prohibit certain activities which are considered dangerous and therefore excluded from coverage. One system for classifying activities according to whether they are authorised by insurers refers to "green light" approved activities and events, "yellow light" activities and events which require insurer consultation and/or waivers of liability, and "red light" activities and events which are prohibited and outside the scope of insurance cover.[30]Insurance can have various effects on society through the way that it changes who bears the cost of losses and damage. On one hand it can increase fraud; on the other it can help societies and individuals prepare for catastrophes and mitigate the effects of catastrophes on both households and societies.Insurance can influence the probability of losses through moral hazard, insurance fraud, and preventive steps by the insurance company. Insurance scholars have typically used moral hazard to refer to the increased loss due to unintentional carelessness and insurance fraud to refer to increased risk due to intentional carelessness or indifference.[31] Insurers attempt to address carelessness through inspections, policy provisions requiring certain types of maintenance, and possible discounts for loss mitigation efforts. While in theory insurers could encourage investment in loss reduction, some commentators have argued that in practice insurers had historically not aggressively pursued loss control measures—particularly to prevent disaster losses such as hurricanes—because of concerns over rate reductions and legal battles. However, since about 1996 insurers have begun to take a more active role in loss mitigation, such as through building codes.[32]According to the study books of The Chartered Insurance Institute, there are variant methods of insurance as follows:Insurers may use the subscription business model, collecting premium payments periodically in return for on-going and/or compounding benefits offered to policyholders.Insurers\' business model aims to collect more in premium and investment income than is paid out in losses, and to also offer a competitive price which consumers will accept. Profit can be reduced to a simple equation:Insurers make money in two ways:The most complicated aspect of insuring is the actuarial science of ratemaking (price-setting) of policies, which uses statistics and probability to approximate the rate of future claims based on a given risk. After producing rates, the insurer will use discretion to reject or accept risks through the underwriting process.At the most basic level, initial rate-making involves looking at the frequency and severity of insured perils and the expected average payout resulting from these perils. Thereafter an insurance company will collect historical loss-data, bring the loss data to present value, and compare these prior losses to the premium collected in order to assess rate adequacy.[33] Loss ratios and expense loads are also used. Rating for different risk characteristics involves - at the most basic level - comparing the losses with "loss relativities"—a policy with twice as many losses would, therefore, be charged twice as much. More complex multivariate analyses are sometimes used when multiple characteristics are involved and a univariate analysis could produce confounded results. Other statistical methods may be used in assessing the probability of future losses.Upon termination of a given policy, the amount of premium collected minus the amount paid out in claims is the insurer\'s underwriting profit on that policy. Underwriting performance is measured by something called the "combined ratio", which is the ratio of expenses/losses to premiums.[34] A combined ratio of less than 100% indicates an underwriting profit, while anything over 100 indicates an underwriting loss. A company with a combined ratio over 100% may nevertheless remain profitable due to investment earnings.Insurance companies earn investment profits on "float". Float, or available reserve, is the amount of money on hand at any given moment that an insurer has collected in insurance premiums but has not paid out in claims. Insurers start investing insurance premiums as soon as they are collected and continue to earn interest or other income on them until claims are paid out. The Association of British Insurers (grouping together 400 insurance companies and 94% of UK insurance services) has almost 20% of the investments in the London Stock Exchange.[35] In 2007, U.S. industry profits from float totaled $58 billion. In a 2009 letter to investors, Warren Buffett wrote, "we were paid $2.8 billion to hold our float in 2008".[36]In the United States, the underwriting loss of property and casualty insurance companies was $142.3 billion in the five years ending 2003. But overall profit for the same period was $68.4 billion, as the result of float. Some insurance-industry insiders, most notably Hank Greenberg, do not believe that it is possible to sustain a profit from float forever without an underwriting profit as well, but this opinion is not universally held. Reliance on float for profit has led some industry experts to call insurance companies "investment companies that raise the money for their investments by selling insurance".[37]Naturally, the float method is difficult to carry out in an economically depressed period. Bear markets do cause insurers to shift away from investments and to toughen up their underwriting standards, so a poor economy generally means high insurance-premiums. This tendency to swing between profitable and unprofitable periods over time is commonly known[by whom?] as the underwriting, or insurance, cycle.[38]Claims and loss handling is the materialized utility of insurance; it is the actual "product" paid for.  Claims may be filed by insureds directly with the insurer or through brokers or agents.  The insurer may require that the claim be filed on its own proprietary forms, or may accept claims on a standard industry form, such as those produced by ACORD.Insurance company claims departments employ a large number of claims adjusters supported by a staff of records management and data entry clerks.  Incoming claims are classified based on severity and are assigned to adjusters whose settlement authority varies with their knowledge and experience.  The adjuster undertakes an investigation of each claim, usually in close cooperation with the insured, determines if coverage is available under the terms of the insurance contract, and if so, the reasonable monetary value of the claim, and authorizes payment.The policyholder may hire their own public adjuster to negotiate the settlement with the insurance company on their behalf. For policies that are complicated, where claims may be complex, the insured may take out a separate insurance policy add-on, called loss recovery insurance, which covers the cost of a public adjuster in the case of a claim.Adjusting liability insurance claims is particularly difficult because there is a third party involved, the plaintiff, who is under no contractual obligation to cooperate with the insurer and may in fact regard the insurer as a deep pocket. The adjuster must obtain legal counsel for the insured (either inside "house" counsel or outside "panel" counsel), monitor litigation that may take years to complete, and appear in person or over the telephone with settlement authority at a mandatory settlement conference when requested by the judge.If a claims adjuster suspects under-insurance, the condition of average may come into play to limit the insurance company\'s exposure.In managing the claims handling function, insurers seek to balance the elements of customer satisfaction, administrative handling expenses, and claims overpayment leakages.  As part of this balancing act, fraudulent insurance practices are a major business risk that must be managed and overcome. Disputes between insurers and insureds over the validity of claims or claims handling practices occasionally escalate into litigation (see insurance bad faith).Insurers will often use insurance agents to initially market or underwrite their customers. Agents can be captive, meaning they write only for one company, or independent, meaning that they can issue policies from several companies. The existence and success of companies using insurance agents is likely due to the availability of improved and personalised services. Companies also use Broking firms, Banks and other corporate entities (like Self Help Groups, Microfinance Institutions, NGOs, etc.) to market their products.[39]Any risk that can be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as perils. An insurance policy will set out in detail which perils are covered by the policy and which are not. Below are non-exhaustive lists of the many different types of insurance that exist. A single policy may cover risks in one or more of the categories set out below. For example, vehicle insurance would typically cover both the property risk (theft or damage to the vehicle) and the liability risk (legal claims arising from an accident). A home insurance policy in the United States typically includes coverage for damage to the home and the owner\'s belongings, certain legal claims against the owner, and even a small amount of coverage for medical expenses of guests who are injured on the owner\'s property.Business insurance can take a number of different forms, such as the various kinds of professional liability insurance, also called professional indemnity (PI), which are discussed below under that name; and the business owner\'s policy (BOP), which packages into one policy many of the kinds of coverage that a business owner needs, in a way analogous to how homeowners\' insurance packages the coverages that a homeowner needs.[40]Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a traffic collision.Coverage typically includes:Gap insurance covers the excess amount on your auto loan in an instance where your insurance company does not cover the entire loan. Depending on the company\'s specific policies it might or might not cover the deductible as well. This coverage is marketed for those who put low down payments, have high interest rates on their loans, and those with 60-month or longer terms. Gap insurance is typically offered by a finance company when the vehicle owner purchases their vehicle, but many auto insurance companies offer this coverage to consumers as well.Health insurance policies cover the cost of medical treatments. Dental insurance, like medical insurance, protects policyholders for dental costs. In most developed countries, all citizens receive some health coverage from their governments, paid through taxation. In most countries, health insurance is often part of an employer\'s benefits.Casualty insurance insures against accidents, not necessarily tied to any specific property. It is a broad spectrum of insurance that a number of other types of insurance could be classified, such as auto, workers compensation, and some liability insurances.Life insurance provides a monetary benefit to a decedent\'s family or other designated beneficiary, and may specifically provide for income to an insured person\'s family, burial, funeral and other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity. In most states, a person cannot purchase a policy on another person without their knowledge.Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies, are regulated as insurance, and require the same kinds of actuarial and investment management expertise that life insurance requires. Annuities and pensions that pay a benefit for life are sometimes regarded as insurance against the possibility that a retiree will outlive his or her financial resources. In that sense, they are the complement of life insurance and, from an underwriting perspective, are the mirror image of life insurance.Certain life insurance contracts accumulate cash values, which may be taken by the insured if the policy is surrendered or which may be borrowed against. Some policies, such as annuities and endowment policies, are financial instruments to accumulate or liquidate wealth when it is needed.In many countries, such as the United States and the UK, the tax law provides that the interest on this cash value is not taxable under certain circumstances. This leads to widespread use of life insurance as a tax-efficient method of saving as well as protection in the event of early death.In the United States, the tax on interest income on life insurance policies and annuities is generally deferred. However, in some cases the benefit derived from tax deferral may be offset by a low return. This depends upon the insuring company, the type of policy and other variables (mortality, market return, etc.). Moreover, other income tax saving vehicles (e.g., IRAs, 401(k) plans, Roth IRAs) may be better alternatives for value accumulation.Burial insurance is a very old type of life insurance which is paid out upon death to cover final expenses, such as the cost of a funeral. The Greeks and Romans introduced burial insurance c.\xa0600 CE when they organized guilds called "benevolent societies" which cared for the surviving families and paid funeral expenses of members upon death. Guilds in the Middle Ages served a similar purpose, as did friendly societies during Victorian times.Property insurance provides protection against risks to property, such as fire, theft or weather damage. This may include specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance or boiler insurance.The term property insurance may, like casualty insurance, be used as a broad category of various subtypes of insurance, some of which are listed below:Liability insurance is a very broad superset that covers legal claims against the insured. Many types of insurance include an aspect of liability coverage. For example, a homeowner\'s insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies against the harm that a crashing car can cause to others\' lives, health, or property. The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict. Liability policies typically cover only the negligence of the insured, and will not apply to results of wilful or intentional acts by the insured.Often a commercial insured\'s liability insurance program consists of several layers.  The first layer of insurance generally consists of primary insurance, which provides first dollar indemnity for judgments and settlements up to the limits of liability of the primary policy.  Generally, primary insurance is subject to a deductible and obligates the insured to defend the insured against lawsuits, which is normally accomplished by assigning counsel to defend the insured.  In many instances, a commercial insured may elect to self-insure.  Above the primary insurance or self-insured retention, the insured may have one or more layers of excess insurance to provide coverage additional limits of indemnity protection. There are a variety of types of excess insurance, including "stand-alone" excess policies (policies that contain their own terms, conditions, and exclusions), "follow form" excess insurance (policies that follow the terms of the underlying policy except as specifically provided), and "umbrella" insurance policies (excess insurance that in some circumstances could provide coverage that is broader than the underlying insurance).[47]Credit insurance repays some or all of a loan when the borrower is insolvent.Cyber-insurance is a business lines insurance product intended to provide coverage to corporations from Internet-based risks, and more generally from risks relating to information technology infrastructure, information privacy, information governance liability, and activities related thereto. Some communities prefer to create virtual insurance among themselves by other means than contractual risk transfer, which assigns explicit numerical values to risk. A number of religious groups, including the Amish and some Muslim groups, depend on support provided by their communities when disasters strike. The risk presented by any given person is assumed collectively by the community who all bear the cost of rebuilding lost property and supporting people whose needs are suddenly greater after a loss of some kind. In supportive communities where others can be trusted to follow community leaders, this tacit form of insurance can work.  In this manner the community can even out the extreme differences in insurability that exist among its members. Some further justification is also provided by invoking the moral hazard of explicit insurance contracts.In the United Kingdom, The Crown (which, for practical purposes, meant the civil service) did not insure property such as government buildings.  If a government building was damaged, the cost of repair would be met from public funds because, in the long run, this was cheaper than paying insurance premiums. Since many UK government buildings have been sold to property companies and rented back, this arrangement is now less common.In the United States, the most prevalent form of self-insurance is governmental risk management pools. They are self-funded cooperatives, operating as carriers of coverage for the majority of governmental entities today, such as county governments, municipalities, and school districts.  Rather than these entities independently self-insure and risk bankruptcy from a large judgment or catastrophic loss, such governmental entities form a risk pool. Such pools begin their operations by capitalization through member deposits or bond issuance. Coverage (such as general liability, auto liability, professional liability, workers compensation, and property) is offered by the pool to its members, similar to coverage offered by insurance companies. However, self-insured pools offer members lower rates (due to not needing insurance brokers), increased benefits (such as loss prevention services) and subject matter expertise. Of approximately 91,000 distinct governmental entities operating in the United States, 75,000 are members of self-insured pools in various lines of coverage, forming approximately 500 pools. Although a relatively small corner of the insurance market, the annual contributions (self-insured premiums) to such pools have been estimated up to 17 billion dollars annually.[54]Insurance companies may sell any combination of insurance types, but are often classified into three groups:[55]General insurance companies can be further divided into these sub categories.In most countries, life and non-life insurers are subject to different regulatory regimes and different tax and accounting rules. The main reason for the distinction between the two types of company is that life, annuity, and pension business is very long-term in nature – coverage for life assurance or a pension can cover risks over many decades. By contrast, non-life insurance cover usually covers a shorter period, such as one year.Insurance companies are generally classified as either mutual or proprietary companies.[56] Mutual companies are owned by the policyholders, while shareholders (who may or may not own policies) own proprietary insurance companies.Demutualization of mutual insurers to form stock companies, as well as the formation of a hybrid known as a mutual holding company, became common in some countries, such as the United States, in the late 20th century.  However, not all states permit mutual holding companies.Reinsurance companies are insurance companies that sell policies to other insurance companies, allowing them to reduce their risks and protect themselves from substantial losses.[57] The reinsurance market is dominated by a few very large companies, with huge reserves. A reinsurer may also be a direct writer of insurance risks as well.Captive insurance companies may be defined as limited-purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups. This definition can sometimes be extended to include some of the risks of the parent company\'s customers. In short, it is an in-house self-insurance vehicle. Captives may take the form of a "pure" entity, which is a 100% subsidiary of the self-insured parent company; of a "mutual" captive, which insures the collective risks of members of an industr); and of an "association" captive, which self-insures individual risks of the members of a professional, commercial or industrial association. Captives represent commercial, economic and tax advantages to their sponsors because of the reductions in costs they help create and for the ease of insurance risk management and the flexibility for cash flows they generate. Additionally, they may provide coverage of risks which is neither available nor offered in the traditional insurance market at reasonable prices.The types of risk that a captive can underwrite for their parents include property damage, public and product liability, professional indemnity, employee benefits, employers\' liability, motor and medical aid expenses. The captive\'s exposure to such risks may be limited by the use of reinsurance.Captives are becoming an increasingly important component of the risk management and risk financing strategy of their parent. This can be understood against the following background:Other possible forms for an insurance company include reciprocals, in which policyholders reciprocate in sharing risks, and Lloyd\'s organizations.[58]Admitted insurance companies are those in the United States that have been admitted or licensed by the state licensing agency. The insurance they sell is called admitted insurance. Non-admitted companies have not been approved by the state licensing agency, but are allowed to sell insurance under special circumstances when they meet an insurance need that admitted companies cannot or will not meet.[59]There are also companies known as "insurance consultants". Like a mortgage broker, these companies are paid a fee by the customer to shop around for the best insurance policy among many companies. Similar to an insurance consultant, an "insurance broker" also shops around for the best insurance policy among many companies. However, with insurance brokers, the fee is usually paid in the form of commission from the insurer that is selected rather than directly from the client.Neither insurance consultants nor insurance brokers are insurance companies and no risks are transferred to them in insurance transactions. Third party administrators are companies that perform underwriting and sometimes claims handling services for insurance companies.  These companies often have special expertise that the insurance companies do not have.The financial stability and strength of an insurance company should be a major consideration when buying an insurance contract. An insurance premium paid currently provides coverage for losses that might arise many years in the future.  For that reason, the viability of the insurance carrier is very important. In recent years, a number of insurance companies have become insolvent, leaving their policyholders with no coverage (or coverage only from a government-backed insurance pool or other arrangement with less attractive payouts for losses). A number of independent rating agencies provide information and rate the financial viability of insurance companies.Insurance companies are rated by various agencies such as A.\xa0M. Best. The ratings include the company\'s financial strength, which measures its ability to pay claims. It also rates financial instruments issued by the insurance company, such as bonds, notes, and securitization products.Global insurance premiums grew by 2.7% in inflation-adjusted terms in 2010 to $4.3 trillion, climbing above pre-crisis levels. The return to growth and record premiums generated during the year followed two years of decline in real terms. Life insurance premiums increased by 3.2% in 2010 and non-life premiums by 2.1%. While industrialised countries saw an increase in premiums of around 1.4%, insurance markets in emerging economies saw rapid expansion with 11% growth in premium income. The global insurance industry was sufficiently capitalised to withstand the financial crisis of 2008 and 2009 and most insurance companies restored their capital to pre-crisis levels by the end of 2010. With the continuation of the gradual recovery of the global economy, it is likely the insurance industry will continue to see growth in premium income both in industrialised countries and emerging markets in 2011.Advanced economies account for the bulk of global insurance. With premium income of $1.62 trillion, Europe was the most important region in 2010, followed by North America $1.41 trillion and Asia $1.16 trillion. Europe has however seen a decline in premium income during the year in contrast to the growth seen in North America and Asia. The top four countries generated more than a half of premiums. The United States and Japan alone accounted for 40% of world insurance, much higher than their 7% share of the global population. Emerging economies accounted for over 85% of the world\'s population but only around 15% of premiums. Their markets are however growing at a quicker pace.[60] The country expected to have the biggest impact on the insurance share distribution across the world is China. According to Sam Radwan of ENHANCE International LLC, low premium penetration (insurance premium as a\xa0% of GDP), an ageing population and the largest car market in terms of new sales, premium growth has averaged 15–20% in the past five years, and China is expected to be the largest insurance market in the next decade or two.[61]In the United States, insurance is regulated by the states under the McCarran-Ferguson Act, with "periodic proposals for federal intervention", and a nonprofit coalition of state insurance agencies called the National Association of Insurance Commissioners works to harmonize the country\'s different laws and regulations.[62] The National Conference of Insurance Legislators (NCOIL) also works to harmonize the different state laws.[63]In the European Union, the Third Non-Life Directive and the Third Life Directive, both passed in 1992 and effective 1994, created a single insurance market in Europe and allowed insurance companies to offer insurance anywhere in the EU (subject to permission from authority in the head office) and allowed insurance consumers to purchase insurance from any insurer in the EU.[64] As far as insurance in the United Kingdom, the Financial Services Authority took over insurance regulation from the General Insurance Standards Council in 2005;[65] laws passed include the Insurance Companies Act 1973 and another in 1982,[66] and reforms to warranty and other aspects under discussion as of 2012[update].[67]The insurance industry in China was nationalized in 1949 and thereafter offered by only a single state-owned company, the People\'s Insurance Company of China, which was eventually suspended as demand declined in a communist environment. In 1978, market reforms led to an increase in the market and by 1995 a comprehensive Insurance Law of the People\'s Republic of China[68] was passed, followed in 1998 by the formation of China Insurance Regulatory Commission (CIRC), which has broad regulatory authority over the insurance market of China.[69]In India IRDA is insurance regulatory authority. As per the section 4 of IRDA Act 1999, Insurance Regulatory and Development Authority (IRDA), which was constituted by an act of parliament. National Insurance Academy, Pune is apex insurance capacity builder institute promoted with support from Ministry of Finance and by LIC, Life & General Insurance companies.In 2017, within the framework of the joint project of the Bank of Russia and Yandex, a special check mark (a green circle with a tick and \'Реестр ЦБ РФ\' (Unified state register of insurance entities) text box) appeared in the search for Yandex system, informing the consumer that the company\'s financial services are offered on the marked website, which has the status of an insurance company, a broker or a mutual insurance association.[70]Insurance is just a risk transfer mechanism wherein the financial burden which may arise due to some fortuitous event is transferred to a bigger entity called an Insurance Company by way of paying premiums. This only reduces the financial burden and not the actual chances of happening of an event. Insurance is a risk for both the insurance company and the insured.  The insurance company understands the risk involved and will perform a risk assessment when writing the policy.  As a result, the premiums may go up if they determine that the policyholder will file a claim. However, premiums might reduce if the policyholder commits to a risk management program as recommended by the insurer.[71] It\'s therefore important that insurers view risk management as a joint initiative between policyholder and insurer since a robust risk management plan minimizes the possibility of a large claim for the insurer while stabilizing or reducing premiums for the policyholder. If a person is financially stable and plans for life\'s unexpected events, they may be able to go without insurance.  However, they must have enough to cover a total and complete loss of employment and of their possessions.  Some states will accept a surety bond, a government bond, or even making a cash deposit with the state.[citation needed]An insurance company may inadvertently find that its insureds may not be as risk-averse as they might otherwise be (since, by definition, the insured has transferred the risk to the insurer), a concept known as moral hazard. This \'insulates\' many from thetrue costs of living with risk, negating measures that can mitigate or adapt to risk and leading some to describe insurance schemes as potentially maladaptive.[72]Insurance policies can be complex and some policyholders may not understand all the fees and coverages included in a policy. As a result, people may buy policies on unfavorable terms. In response to these issues, many countries have enacted detailed statutory and regulatory regimes governing every aspect of the insurance business, including minimum standards for policies and the ways in which they may be advertised and sold.For example, most insurance policies in the English language today have been carefully drafted in plain English; the industry learned the hard way that many courts will not enforce policies against insureds when the judges themselves cannot understand what the policies are saying. Typically, courts construe ambiguities in insurance policies against the insurance company and in favor of coverage under the policy.Many institutional insurance purchasers buy insurance through an insurance broker. While on the surface it appears the broker represents the buyer (not the insurance company), and typically counsels the buyer on appropriate coverage and policy limitations, in the vast majority of cases a broker\'s compensation comes in the form of a commission as a percentage of the insurance premium, creating a conflict of interest in that the broker\'s financial interest is tilted towards encouraging an insured to purchase more insurance than might be necessary at a higher price. A broker generally holds contracts with many insurers, thereby allowing the broker to "shop" the market for the best rates and coverage possible.Insurance may also be purchased through an agent. A tied agent, working exclusively with one insurer, represents the insurance company from whom the policyholder buys (while a free agent sells policies of various insurance companies). Just as there is a potential conflict of interest with a broker, an agent has a different type of conflict. Because agents work directly for the insurance company, if there is a claim the agent may advise the client to the benefit of the insurance company. Agents generally cannot offer as broad a range of selection compared to an insurance broker.An independent insurance consultant advises insureds on a fee-for-service retainer, similar to an attorney, and thus offers completely independent advice, free of the financial conflict of interest of brokers or agents. However, such a consultant must still work through brokers or agents in order to secure coverage for their clients.In the United States, economists and consumer advocates generally consider insurance to be worthwhile for low-probability, catastrophic losses, but not for high-probability, small losses. Because of this, consumers are advised to select high deductibles and to not insure losses which would not cause a disruption in their life. However, consumers have shown a tendency to prefer low deductibles and to prefer to insure relatively high-probability, small losses over low-probability, perhaps due to not understanding or ignoring the low-probability risk. This is associated with reduced purchasing of insurance against low-probability losses, and may result in increased inefficiencies from moral hazard.[73]Redlining is the practice of denying insurance coverage in specific geographic areas, supposedly because of a high likelihood of loss, while the alleged motivation is unlawful discrimination. Racial profiling or redlining has a long history in the property insurance industry in the United States. From a review of industry underwriting and marketing materials, court documents, and research by government agencies, industry and community groups, and academics, it is clear that race has long affected and continues to affect the policies and practices of the insurance industry.[74]In July 2007, the US Federal Trade Commission (FTC) released a report presenting the results of a study concerning credit-based insurance scores in automobile insurance. The study found that these scores are effective predictors of risk. It also showed that African-Americans and Hispanics are substantially overrepresented in the lowest credit scores, and substantially underrepresented in the highest, while Caucasians and Asians are more evenly spread across the scores. The credit scores were also found to predict risk within each of the ethnic groups, leading the FTC to conclude that the scoring models are not solely proxies for redlining. The FTC indicated little data was available to evaluate benefit of insurance scores to consumers.[75] The report was disputed by representatives of the Consumer Federation of America, the National Fair Housing Alliance, the National Consumer Law Center, and the Center for Economic Justice, for relying on data provided by the insurance industry.[76]All states have provisions in their rate regulation laws or in their fair trade practice acts that prohibit unfair discrimination, often called redlining, in setting rates and making insurance available.[77]In determining premiums and premium rate structures, insurers consider quantifiable factors, including location, credit scores, gender, occupation, marital status, and education level. However, the use of such factors is often considered to be unfair or unlawfully discriminatory, and the reaction against this practice has in some instances led to political disputes about the ways in which insurers determine premiums and regulatory intervention to limit the factors used.An insurance underwriter\'s job is to evaluate a given risk as to the likelihood that a loss will occur. Any factor that causes a greater likelihood of loss should theoretically be charged a higher rate. This basic principle of insurance must be followed if insurance companies are to remain solvent.[citation needed] Thus, "discrimination" against (i.e., negative differential treatment of) potential insureds in the risk evaluation and premium-setting process is a necessary by-product of the fundamentals of insurance underwriting.[citation needed] For instance, insurers charge older people significantly higher premiums than they charge younger people for term life insurance. Older people are thus treated differently from younger people (i.e., a distinction is made, discrimination occurs). The rationale for the differential treatment goes to the heart of the risk a life insurer takes: older people are likely to die sooner than young people, so the risk of loss (the insured\'s death) is greater in any given period of time and therefore the risk premium must be higher to cover the greater risk.[citation needed] However, treating insureds differently when there is no actuarially sound reason for doing so is unlawful discrimination.New assurance products can now be protected from copying with a business method patent in the United States.A recent example of a new insurance product that is patented is Usage Based auto insurance. Early versions were independently invented and patented by a major US auto insurance company, Progressive Auto Insurance (U.S. Patent 5,797,134) and a Spanish independent inventor, Salvador Minguijon Perez (EP 0700009\xa0).Many independent inventors are in favor of patenting new insurance products since it gives them protection from big companies when they bring their new insurance products to market. Independent inventors account for 70% of the new U.S. patent applications in this area.Many insurance executives are opposed to patenting insurance products because it creates a new risk for them. The Hartford insurance company, for example, recently had to pay $80 million to an independent inventor, Bancorp Services, in order to settle a patent infringement and theft of trade secret lawsuit for a type of corporate owned life insurance product invented and patented by Bancorp.There are currently about 150 new patent applications on insurance inventions filed per year in the United States. The rate at which patents have been issued has steadily risen from 15 in 2002 to 44 in 2006.[78]The first insurance patent to be granted was[79] including another example of an application posted was US2009005522 "risk assessment company". It was posted on 6 March 2009. This patent application describes a method for increasing the ease of changing insurance companies.[80]Insurance on demand (also IoD) is an insurance service that provides clients with insurance protection when they need, i.e. only episodic rather than on 24/7 basis as typically provided by traditional insurers (e.g. clients can purchase an insurance for one single flight rather than a longer-lasting travel insurance plan).Certain insurance products and practices have been described as rent-seeking by critics.[citation needed] That is, some insurance products or practices are useful primarily because of legal benefits, such as reducing taxes, as opposed to providing protection against risks of adverse events. Under United States tax law, for example, most owners of variable annuities and variable life insurance can invest their premium payments in the stock market and defer or eliminate paying any taxes on their investments until withdrawals are made. Sometimes this tax deferral is the only reason people use these products.[citation needed] Another example is the legal infrastructure which allows life insurance to be held in an irrevocable trust which is used to pay an estate tax while the proceeds themselves are immune from the estate tax.Muslim scholars have varying opinions about life insurance. Life insurance policies that earn interest (or guaranteed bonus/NAV) are generally considered to be a form of riba[81] (usury) and some consider even policies that do not earn interest to be a form of gharar (speculation). Some argue that gharar is not present due to the actuarial science behind the underwriting.[82]Jewish rabbinical scholars also have expressed reservations regarding insurance as an avoidance of God\'s will but most find it acceptable in moderation.[83]Some Christians believe insurance represents a lack of faith[84][85] and there is a long history of resistance to commercial insurance in Anabaptist communities (Mennonites, Amish, Hutterites, Brethren in Christ) but many participate in community-based self-insurance programs that spread risk within their communities.[86][87][88]Country-specific articles:'

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<h1 class="firstHeading" id="firstHeading">Insurance</h1>
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<div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Equitable transfer of the risk of a loss, from one entity to another in exchange for payment</div>
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<div class="thumb tright"><div class="thumbinner" style="width:292px;"><a class="image" href="/wiki/File:Algemeene_Verzeekering-Maatschappij_Providentia.jpg"><img alt="" class="thumbimage" data-file-height="1571" data-file-width="1200" decoding="async" height="380" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e4/Algemeene_Verzeekering-Maatschappij_Providentia.jpg/290px-Algemeene_Verzeekering-Maatschappij_Providentia.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e4/Algemeene_Verzeekering-Maatschappij_Providentia.jpg/435px-Algemeene_Verzeekering-Maatschappij_Providentia.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e4/Algemeene_Verzeekering-Maatschappij_Providentia.jpg/580px-Algemeene_Verzeekering-Maatschappij_Providentia.jpg 2x" width="290"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Algemeene_Verzeekering-Maatschappij_Providentia.jpg" title="Enlarge"></a></div>An advertising poster for a Dutch insurance company from <abbr title="circa">c.</abbr> 1900–1918 depicts an armored knight</div></div></div>
<style data-mw-deduplicate="TemplateStyles:r1042089871">.mw-parser-output .sidebar{width:22em;float:right;clear:right;margin:0.5em 0 1em 1em;background:#f8f9fa;border:1px solid #aaa;padding:0.2em;text-align:center;line-height:1.4em;font-size:88%;border-collapse:collapse;display:table}body.skin-minerva .mw-parser-output .sidebar{display:table!important;float:right!important;margin:0.5em 0 1em 1em!important}.mw-parser-output .sidebar-subgroup{width:100%;margin:0;border-spacing:0}.mw-parser-output .sidebar-left{float:left;clear:left;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-none{float:none;clear:both;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-outer-title{padding:0 0.4em 0.2em;font-size:125%;line-height:1.2em;font-weight:bold}.mw-parser-output .sidebar-top-image{padding:0.4em}.mw-parser-output .sidebar-top-caption,.mw-parser-output .sidebar-pretitle-with-top-image,.mw-parser-output .sidebar-caption{padding:0.2em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-pretitle{padding:0.4em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-title,.mw-parser-output .sidebar-title-with-pretitle{padding:0.2em 0.8em;font-size:145%;line-height:1.2em}.mw-parser-output .sidebar-title-with-pretitle{padding:0.1em 0.4em}.mw-parser-output .sidebar-image{padding:0.2em 0.4em 0.4em}.mw-parser-output .sidebar-heading{padding:0.1em 0.4em}.mw-parser-output .sidebar-content{padding:0 0.5em 0.4em}.mw-parser-output .sidebar-content-with-subgroup{padding:0.1em 0.4em 0.2em}.mw-parser-output .sidebar-above,.mw-parser-output .sidebar-below{padding:0.3em 0.8em;font-weight:bold}.mw-parser-output .sidebar-collapse .sidebar-above,.mw-parser-output .sidebar-collapse .sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:720px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}</style><table class="sidebar nomobile nowraplinks hlist"><tbody><tr><th class="sidebar-title" style="font-size:125%"><a href="/wiki/Financial_market_participants" title="Financial market participants">Financial market participants</a></th></tr><tr><td class="sidebar-content">
<ul><li><a href="/wiki/Credit_union" title="Credit union">Credit unions</a></li>
<li><a class="mw-selflink selflink">Insurance companies</a></li>
<li><a href="/wiki/Investment_banking" title="Investment banking">Investment banks</a></li>
<li><a href="/wiki/Investment_fund" title="Investment fund">Investment funds</a></li>
<li><a href="/wiki/Pension_fund" title="Pension fund">Pension funds</a></li>
<li><a href="/wiki/Prime_brokerage" title="Prime brokerage">Prime brokers</a></li>
<li><a href="/wiki/Trust_company" title="Trust company">Trusts</a></li></ul></td>
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<ul><li><a href="/wiki/Finance" title="Finance">Finance</a></li>
<li><a href="/wiki/Financial_market" title="Financial market">Financial market</a></li>
<li><a href="/wiki/Financial_market_participants" title="Financial market participants">Participants</a></li>
<li><a href="/wiki/Corporate_finance" title="Corporate finance">Corporate finance</a></li>
<li><a href="/wiki/Personal_finance" title="Personal finance">Personal finance</a></li>
<li><a href="/wiki/Public_finance" title="Public finance">Public finance</a></li>
<li><a href="/wiki/Bank" title="Bank">Banks and banking</a></li>
<li><a href="/wiki/Financial_regulation" title="Financial regulation">Financial regulation</a></li>
<li><a href="/wiki/Fund_governance" title="Fund governance">Fund governance</a></li></ul></td>
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<p><b>Insurance</b> is a means of protection from financial loss.  It is a form of <a href="/wiki/Risk_management" title="Risk management">risk management</a>, primarily used to <a href="/wiki/Hedge_(finance)" title="Hedge (finance)">hedge</a> against the risk of a contingent or uncertain loss.
</p><p>An entity which provides insurance is known as an <b>insurer</b>, an <b>insurance company</b>, an <b>insurance carrier</b> or an <a class="mw-redirect" href="/wiki/Underwriter" title="Underwriter">underwriter</a>.  A person or entity who buys insurance is known as an <b>insured</b> or as a <b>policyholder</b>. The insurance transaction involves the insured assuming a guaranteed and known - relatively small - loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss.  The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an <a href="/wiki/Insurable_interest" title="Insurable interest">insurable interest</a> established by ownership, possession, or pre-existing relationship.
</p><p>The insured receives a <a href="/wiki/Contract" title="Contract">contract</a>, called the <a href="/wiki/Insurance_policy" title="Insurance policy">insurance policy</a>, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the <b>premium</b>. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a <a href="/wiki/Claims_adjuster" title="Claims adjuster">claims adjuster</a>. A mandatory <a href="/wiki/Out-of-pocket_expense" title="Out-of-pocket expense">out-of-pocket expense</a> required by an insurance policy before an insurer will pay a claim is called a <b><a href="/wiki/Deductible" title="Deductible">deductible</a></b> (or if required by a <a href="/wiki/Health_insurance" title="Health insurance">health insurance</a> policy, a <b><a href="/wiki/Copayment" title="Copayment">copayment</a></b>). The insurer may <a href="/wiki/Hedge_(finance)" title="Hedge (finance)">hedge</a> its own risk by taking out <a href="/wiki/Reinsurance" title="Reinsurance">reinsurance</a>, whereby another insurance company agrees to carry some of the risks, especially if the primary insurer deems the risk too large for it to carry.
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<div aria-labelledby="mw-toc-heading" class="toc" id="toc" role="navigation"><input class="toctogglecheckbox" id="toctogglecheckbox" role="button" style="display:none" type="checkbox"/><div class="toctitle" dir="ltr" lang="en"><h2 id="mw-toc-heading">Contents</h2><span class="toctogglespan"><label class="toctogglelabel" for="toctogglecheckbox"></label></span></div>
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<li class="toclevel-1 tocsection-1"><a href="#History"><span class="tocnumber">1</span> <span class="toctext">History</span></a>
<ul>
<li class="toclevel-2 tocsection-2"><a href="#Early_methods"><span class="tocnumber">1.1</span> <span class="toctext">Early methods</span></a></li>
<li class="toclevel-2 tocsection-3"><a href="#Modern_methods"><span class="tocnumber">1.2</span> <span class="toctext">Modern methods</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-4"><a href="#Principles"><span class="tocnumber">2</span> <span class="toctext">Principles</span></a>
<ul>
<li class="toclevel-2 tocsection-5"><a href="#Insurability"><span class="tocnumber">2.1</span> <span class="toctext">Insurability</span></a></li>
<li class="toclevel-2 tocsection-6"><a href="#Legal"><span class="tocnumber">2.2</span> <span class="toctext">Legal</span></a></li>
<li class="toclevel-2 tocsection-7"><a href="#Indemnification"><span class="tocnumber">2.3</span> <span class="toctext">Indemnification</span></a></li>
<li class="toclevel-2 tocsection-8"><a href="#Exclusions"><span class="tocnumber">2.4</span> <span class="toctext">Exclusions</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-9"><a href="#Social_effects"><span class="tocnumber">3</span> <span class="toctext">Social effects</span></a>
<ul>
<li class="toclevel-2 tocsection-10"><a href="#Methods_of_insurance"><span class="tocnumber">3.1</span> <span class="toctext">Methods of insurance</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-11"><a href="#Insurers'_business_model"><span class="tocnumber">4</span> <span class="toctext">Insurers' business model</span></a>
<ul>
<li class="toclevel-2 tocsection-12"><a href="#Underwriting_and_investing"><span class="tocnumber">4.1</span> <span class="toctext">Underwriting and investing</span></a></li>
<li class="toclevel-2 tocsection-13"><a href="#Claims"><span class="tocnumber">4.2</span> <span class="toctext">Claims</span></a></li>
<li class="toclevel-2 tocsection-14"><a href="#Marketing"><span class="tocnumber">4.3</span> <span class="toctext">Marketing</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-15"><a href="#Types"><span class="tocnumber">5</span> <span class="toctext">Types</span></a>
<ul>
<li class="toclevel-2 tocsection-16"><a href="#Auto_insurance"><span class="tocnumber">5.1</span> <span class="toctext">Auto insurance</span></a></li>
<li class="toclevel-2 tocsection-17"><a href="#Gap_insurance"><span class="tocnumber">5.2</span> <span class="toctext">Gap insurance</span></a></li>
<li class="toclevel-2 tocsection-18"><a href="#Health_insurance"><span class="tocnumber">5.3</span> <span class="toctext">Health insurance</span></a></li>
<li class="toclevel-2 tocsection-19"><a href="#Income_protection_insurance"><span class="tocnumber">5.4</span> <span class="toctext">Income protection insurance</span></a></li>
<li class="toclevel-2 tocsection-20"><a href="#Casualty_insurance"><span class="tocnumber">5.5</span> <span class="toctext">Casualty insurance</span></a></li>
<li class="toclevel-2 tocsection-21"><a href="#Life_insurance"><span class="tocnumber">5.6</span> <span class="toctext">Life insurance</span></a></li>
<li class="toclevel-2 tocsection-22"><a href="#Burial_insurance"><span class="tocnumber">5.7</span> <span class="toctext">Burial insurance</span></a></li>
<li class="toclevel-2 tocsection-23"><a href="#Property"><span class="tocnumber">5.8</span> <span class="toctext">Property</span></a></li>
<li class="toclevel-2 tocsection-24"><a href="#Liability"><span class="tocnumber">5.9</span> <span class="toctext">Liability</span></a></li>
<li class="toclevel-2 tocsection-25"><a href="#Credit"><span class="tocnumber">5.10</span> <span class="toctext">Credit</span></a></li>
<li class="toclevel-2 tocsection-26"><a href="#Cyber_Attack_Insurance"><span class="tocnumber">5.11</span> <span class="toctext">Cyber Attack Insurance</span></a></li>
<li class="toclevel-2 tocsection-27"><a href="#Other_types"><span class="tocnumber">5.12</span> <span class="toctext">Other types</span></a></li>
<li class="toclevel-2 tocsection-28"><a href="#Insurance_financing_vehicles"><span class="tocnumber">5.13</span> <span class="toctext">Insurance financing vehicles</span></a></li>
<li class="toclevel-2 tocsection-29"><a href="#Closed_community_and_governmental_self-insurance"><span class="tocnumber">5.14</span> <span class="toctext">Closed community and governmental self-insurance</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-30"><a href="#Insurance_companies"><span class="tocnumber">6</span> <span class="toctext">Insurance companies</span></a>
<ul>
<li class="toclevel-2 tocsection-31"><a href="#Mutual_versus_proprietary"><span class="tocnumber">6.1</span> <span class="toctext">Mutual versus proprietary</span></a></li>
<li class="toclevel-2 tocsection-32"><a href="#Reinsurance_companies"><span class="tocnumber">6.2</span> <span class="toctext">Reinsurance companies</span></a></li>
<li class="toclevel-2 tocsection-33"><a href="#Captive_insurance_companies"><span class="tocnumber">6.3</span> <span class="toctext">Captive insurance companies</span></a></li>
<li class="toclevel-2 tocsection-34"><a href="#Other_forms"><span class="tocnumber">6.4</span> <span class="toctext">Other forms</span></a></li>
<li class="toclevel-2 tocsection-35"><a href="#Admitted_versus_non-admitted"><span class="tocnumber">6.5</span> <span class="toctext">Admitted versus non-admitted</span></a></li>
<li class="toclevel-2 tocsection-36"><a href="#Insurance_consultants"><span class="tocnumber">6.6</span> <span class="toctext">Insurance consultants</span></a></li>
<li class="toclevel-2 tocsection-37"><a href="#Financial_stability_and_rating"><span class="tocnumber">6.7</span> <span class="toctext">Financial stability and rating</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-38"><a href="#Across_the_world"><span class="tocnumber">7</span> <span class="toctext">Across the world</span></a>
<ul>
<li class="toclevel-2 tocsection-39"><a href="#Regulatory_differences"><span class="tocnumber">7.1</span> <span class="toctext">Regulatory differences</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-40"><a href="#Controversies"><span class="tocnumber">8</span> <span class="toctext">Controversies</span></a>
<ul>
<li class="toclevel-2 tocsection-41"><a href="#Does_not_reduce_the_risk"><span class="tocnumber">8.1</span> <span class="toctext">Does not reduce the risk</span></a></li>
<li class="toclevel-2 tocsection-42"><a href="#Moral_hazard"><span class="tocnumber">8.2</span> <span class="toctext">Moral hazard</span></a></li>
<li class="toclevel-2 tocsection-43"><a href="#Complexity_of_insurance_policy_contracts"><span class="tocnumber">8.3</span> <span class="toctext">Complexity of insurance policy contracts</span></a></li>
<li class="toclevel-2 tocsection-44"><a href="#Limited_consumer_benefits"><span class="tocnumber">8.4</span> <span class="toctext">Limited consumer benefits</span></a></li>
<li class="toclevel-2 tocsection-45"><a href="#Redlining"><span class="tocnumber">8.5</span> <span class="toctext">Redlining</span></a></li>
<li class="toclevel-2 tocsection-46"><a href="#Insurance_patents"><span class="tocnumber">8.6</span> <span class="toctext">Insurance patents</span></a></li>
<li class="toclevel-2 tocsection-47"><a href="#Insurance_on_demand"><span class="tocnumber">8.7</span> <span class="toctext">Insurance on demand</span></a></li>
<li class="toclevel-2 tocsection-48"><a href="#Insurance_industry_and_rent-seeking"><span class="tocnumber">8.8</span> <span class="toctext">Insurance industry and rent-seeking</span></a></li>
<li class="toclevel-2 tocsection-49"><a href="#Religious_concerns"><span class="tocnumber">8.9</span> <span class="toctext">Religious concerns</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-50"><a href="#See_also"><span class="tocnumber">9</span> <span class="toctext">See also</span></a></li>
<li class="toclevel-1 tocsection-51"><a href="#Notes"><span class="tocnumber">10</span> <span class="toctext">Notes</span></a></li>
<li class="toclevel-1 tocsection-52"><a href="#References"><span class="tocnumber">11</span> <span class="toctext">References</span></a>
<ul>
<li class="toclevel-2 tocsection-53"><a href="#Citations"><span class="tocnumber">11.1</span> <span class="toctext">Citations</span></a></li>
<li class="toclevel-2 tocsection-54"><a href="#Sources"><span class="tocnumber">11.2</span> <span class="toctext">Sources</span></a></li>
</ul>
</li>
<li class="toclevel-1 tocsection-55"><a href="#External_links"><span class="tocnumber">12</span> <span class="toctext">External links</span></a></li>
</ul>
</div>
<h2><span class="mw-headline" id="History">History</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=1" title="Edit section: History">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/History_of_insurance" title="History of insurance">History of insurance</a></div>
<h3><span class="mw-headline" id="Early_methods">Early methods</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=2" title="Edit section: Early methods">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg"><img alt="" class="thumbimage" data-file-height="700" data-file-width="1132" decoding="async" height="136" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg/220px-Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg/330px-Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg/440px-Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg" title="Enlarge"></a></div>Merchants have sought methods to minimize risks since early times. Pictured, <i>Governors of the Wine Merchant's Guild</i> by <a href="/wiki/Ferdinand_Bol" title="Ferdinand Bol">Ferdinand Bol</a>, c. 1680.</div></div></div>
<p>Methods for transferring or distributing risk were practiced by <a href="/wiki/Babylonia" title="Babylonia">Babylonian</a>, <a href="/wiki/China" title="China">Chinese</a> and <a href="/wiki/Indian_people" title="Indian people">Indian</a> traders as long ago as the <a href="/wiki/3rd_millennium_BC" title="3rd millennium BC">3rd</a> and <a href="/wiki/2nd_millennium_BC" title="2nd millennium BC">2nd</a> <a href="/wiki/Millennium" title="Millennium">millennia</a> BC, respectively.<sup class="reference" id="cite_ref-1"><a href="#cite_note-1">[1]</a></sup><sup class="reference" id="cite_ref-2"><a href="#cite_note-2">[2]</a></sup> Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessels capsizing.
</p><p><a href="/wiki/Code_of_Hammurabi#Laws" title="Code of Hammurabi"><i>Codex Hammurabi</i> Law 238</a> (c. 1755–1750 BC) stipulated that a <a href="/wiki/Sea_captain" title="Sea captain">sea captain</a>, <a href="/wiki/Technical_management" title="Technical management">ship-manager</a>, or <a href="/wiki/Chartering_(shipping)" title="Chartering (shipping)">ship charterer</a> that saved a ship from <a href="/wiki/Shipwreck" title="Shipwreck">total loss</a> was <a href="/wiki/Pro_rata" title="Pro rata">only required to pay one-half the value of the ship</a> to the <a href="/wiki/Ship-owner" title="Ship-owner">ship-owner</a>.<sup class="reference" id="cite_ref-Sommer_1903_p._86_3-0"><a href="#cite_note-Sommer_1903_p._86-3">[3]</a></sup><sup class="reference" id="cite_ref-Harper_1904_p._85_4-0"><a href="#cite_note-Harper_1904_p._85-4">[4]</a></sup><sup class="reference" id="cite_ref-King_1910_5-0"><a href="#cite_note-King_1910-5">[5]</a></sup> In the <i><a href="/wiki/Digest_(Roman_law)" title="Digest (Roman law)">Digesta seu Pandectae</a></i> (533), the second volume of the <a href="/wiki/Corpus_Juris_Civilis" title="Corpus Juris Civilis">codification of laws ordered</a> by <a href="/wiki/Justinian_I" title="Justinian I">Justinian I</a> (527–565) of the <a href="/wiki/Byzantine_Empire" title="Byzantine Empire">Eastern Roman Empire</a>, a <a href="/wiki/Legal_opinion" title="Legal opinion">legal opinion</a> written by the <a href="/wiki/Roman_law" title="Roman law">Roman jurist</a> <a href="/wiki/Julius_Paulus_Prudentissimus" title="Julius Paulus Prudentissimus">Paulus</a> at the beginning of the <a href="/wiki/Crisis_of_the_Third_Century" title="Crisis of the Third Century">Crisis of the Third Century</a> in 235 AD  was included about the <i><a href="/wiki/List_of_Roman_laws" title="List of Roman laws">Lex Rhodia</a></i> ("Rhodian law") that articulates the <a href="/wiki/General_average" title="General average">general average</a> principle of <a href="/wiki/Marine_insurance" title="Marine insurance">marine insurance</a> established on the island of <a href="/wiki/Rhodes" title="Rhodes">Rhodes</a> in approximately 1000 to 800 BC as a member of the <a href="/wiki/Doric_Hexapolis" title="Doric Hexapolis">Doric Hexapolis</a>, plausibly by the <a href="/wiki/Phoenicia" title="Phoenicia">Phoenicians</a> during the proposed <a href="/wiki/Dorian_invasion" title="Dorian invasion">Dorian invasion</a> and emergence of the purported <a href="/wiki/Sea_Peoples" title="Sea Peoples">Sea Peoples</a> during the <a href="/wiki/Greek_Dark_Ages" title="Greek Dark Ages">Greek Dark Ages</a> (c. 1100–c. 750) that led to the proliferation of the <a href="/wiki/Doric_Greek" title="Doric Greek">Doric Greek</a> <a href="/wiki/Ancient_Greek_dialects" title="Ancient Greek dialects">dialect</a>.<sup class="reference" id="cite_ref-6"><a href="#cite_note-6">[6]</a></sup><sup class="reference" id="cite_ref-Prudential_pp._5–6_7-0"><a href="#cite_note-Prudential_pp._5–6-7">[7]</a></sup><sup class="reference" id="cite_ref-Duhaime_8-0"><a href="#cite_note-Duhaime-8">[8]</a></sup>
</p><p>The law of general average constitutes the fundamental <a href="/wiki/Principle" title="Principle">principle</a> that underlies all insurance.<sup class="reference" id="cite_ref-Prudential_pp._5–6_7-1"><a href="#cite_note-Prudential_pp._5–6-7">[7]</a></sup> In 1816, an archeological excavation in <a href="/wiki/Minya,_Egypt" title="Minya, Egypt">Minya, Egypt</a> (under an <a href="/wiki/Egypt_Eyalet" title="Egypt Eyalet">Eyalet</a> of the <a href="/wiki/Ottoman_Empire" title="Ottoman Empire">Ottoman Empire</a>) produced a <a href="/wiki/Nerva%E2%80%93Antonine_dynasty" title="Nerva–Antonine dynasty">Nerva–Antonine dynasty</a>-era <a href="/wiki/Clay_tablet" title="Clay tablet">tablet</a> from the ruins of the <a href="/wiki/Antinous#Deification_and_the_cult_of_Antinous" title="Antinous">Temple of Antinous</a> in <a href="/wiki/Antino%C3%B6polis" title="Antinoöpolis">Antinoöpolis</a>, <a href="/wiki/Roman_Egypt" title="Roman Egypt">Aegyptus</a> that <a href="/wiki/Articles_of_association" title="Articles of association">prescribed the rules</a> and <a href="/wiki/Benefit_society" title="Benefit society">membership dues</a> of a <a href="/wiki/Burial_society" title="Burial society">burial society</a> <a href="/wiki/Collegium_(ancient_Rome)" title="Collegium (ancient Rome)">collegium</a> established in <a href="/wiki/Lanuvium" title="Lanuvium">Lanuvium</a>, <a href="/wiki/Roman_Italy" title="Roman Italy">Italia</a> in approximately 133 AD during the reign of <a href="/wiki/Hadrian" title="Hadrian">Hadrian</a> (117–138) of the <a href="/wiki/Roman_Empire" title="Roman Empire">Roman Empire</a>.<sup class="reference" id="cite_ref-Prudential_pp._5–6_7-2"><a href="#cite_note-Prudential_pp._5–6-7">[7]</a></sup> In 1851, future <a href="/wiki/Supreme_Court_of_the_United_States" title="Supreme Court of the United States">U.S. Supreme Court</a> <a href="/wiki/Associate_Justice_of_the_Supreme_Court_of_the_United_States" title="Associate Justice of the Supreme Court of the United States">Associate Justice</a> <a href="/wiki/Joseph_P._Bradley" title="Joseph P. Bradley">Joseph P. Bradley</a> (1870–1892), once employed as an <a href="/wiki/Actuary" title="Actuary">actuary</a> for the <a href="/wiki/Mutual_Benefit_Life_Insurance_Company" title="Mutual Benefit Life Insurance Company">Mutual Benefit Life Insurance Company</a>, submitted an article to the <i><a href="/wiki/Institute_of_Actuaries" title="Institute of Actuaries">Journal of the Institute of Actuaries</a></i> detailing an historical account of a <a href="/wiki/Severan_dynasty" title="Severan dynasty">Severan dynasty</a>-era <a href="/wiki/Life_table" title="Life table">life table</a> compiled by the <a href="/wiki/Roman_law" title="Roman law">Roman jurist</a> <a href="/wiki/Ulpian" title="Ulpian">Ulpian</a> in approximately 220 AD during the reign of <a href="/wiki/Elagabalus" title="Elagabalus">Elagabalus</a> (218–222) that was also included in the <i>Digesta</i>.<sup class="reference" id="cite_ref-9"><a href="#cite_note-9">[9]</a></sup>
</p><p>Concepts of insurance has been also found in 3rd century BCE Hindu scriptures such as <a class="mw-redirect" href="/wiki/Dharmasastra" title="Dharmasastra">Dharmasastra</a>, <a href="/wiki/Arthashastra" title="Arthashastra">Arthashastra</a> and <a href="/wiki/Manusmriti" title="Manusmriti">Manusmriti</a>.<sup class="reference" id="cite_ref-10"><a href="#cite_note-10">[10]</a></sup> The ancient Greeks had marine loans. Money was advanced on a ship or cargo, to be repaid with large interest if the voyage prospers, but not repaid at all if the ship is lost, the rate of interest being made high enough to pay not only for the use of the capital but for the risk of losing it (fully described by <a href="/wiki/Demosthenes" title="Demosthenes">Demosthenes</a>). Loans of this character have ever since been common in maritime lands, under the name of <a href="/wiki/Bottomry" title="Bottomry">bottomry</a> and respondentia bonds.<sup class="reference" id="cite_ref-EB1911_11-0"><a href="#cite_note-EB1911-11">[11]</a></sup>
</p><p>The direct insurance of sea-risks for a premium paid independently of loans began, as far as is known, in <a href="/wiki/Belgium" title="Belgium">Belgium</a> about A.D. 1300.<sup class="reference" id="cite_ref-EB1911_11-1"><a href="#cite_note-EB1911-11">[11]</a></sup>
</p><p>Separate insurance contracts (i.e., insurance policies not bundled with loans or other kinds of contracts) were invented in <a href="/wiki/Genoa" title="Genoa">Genoa</a> in the 14th century, as were insurance pools backed by pledges of landed estates. The first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks.<sup class="reference" id="cite_ref-12"><a href="#cite_note-12">[12]</a></sup> These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in <a href="/wiki/Marine_insurance" title="Marine insurance">marine insurance</a>.
</p><p>The earliest known policy of life insurance was made in the <a href="/wiki/Royal_Exchange,_London" title="Royal Exchange, London">Royal Exchange, London</a>, on the 18th of June 1583, for £383, 6s. 8d. for twelve months, on the life of William Gibbons.<sup class="reference" id="cite_ref-EB1911_11-2"><a href="#cite_note-EB1911-11">[11]</a></sup>
</p>
<h3><span class="mw-headline" id="Modern_methods">Modern methods</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=3" title="Edit section: Modern methods">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Insurance became far more sophisticated in <a class="mw-redirect" href="/wiki/Enlightenment_era" title="Enlightenment era">Enlightenment era</a> <a href="/wiki/Europe" title="Europe">Europe</a>, where specialized varieties developed.
</p>
<div class="thumb tright"><div class="thumbinner" style="width:182px;"><a class="image" href="/wiki/File:Lloyd%27s_coffee_house_drawing.jpg"><img alt="" class="thumbimage" data-file-height="211" data-file-width="180" decoding="async" height="211" src="//upload.wikimedia.org/wikipedia/commons/b/b8/Lloyd%27s_coffee_house_drawing.jpg" width="180"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Lloyd%27s_coffee_house_drawing.jpg" title="Enlarge"></a></div><a href="/wiki/Lloyd%27s_Coffee_House" title="Lloyd's Coffee House">Lloyd's Coffee House</a> was the first organized market for marine insurance.</div></div></div>
<p><a href="/wiki/Property_insurance" title="Property insurance">Property insurance</a> as we know it today can be traced to the <a href="/wiki/Great_Fire_of_London" title="Great Fire of London">Great Fire of London</a>, which in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir <a href="/wiki/Christopher_Wren" title="Christopher Wren">Christopher Wren</a>'s inclusion of a site for "the Insurance Office" in his new plan for London in 1667."<sup class="reference" id="cite_ref-13"><a href="#cite_note-13">[13]</a></sup> A number of attempted fire insurance schemes came to nothing, but in 1681, <a href="/wiki/Economics" title="Economics">economist</a> <a href="/wiki/Nicholas_Barbon" title="Nicholas Barbon">Nicholas Barbon</a> and eleven associates established the first fire insurance company, the "Insurance Office for Houses", at the back of the Royal Exchange to insure brick and frame homes. Initially, 5,000 homes were insured by his Insurance Office.<sup class="reference" id="cite_ref-14"><a href="#cite_note-14">[14]</a></sup>
</p><p>At the same time, the first insurance schemes for the <a href="/wiki/Underwriting" title="Underwriting">underwriting</a> of <a class="mw-redirect" href="/wiki/Business_venture" title="Business venture">business ventures</a> became available. By the end of the seventeenth century, London's growth as a centre for trade was increasing due to the demand for <a href="/wiki/Marine_insurance" title="Marine insurance">marine insurance</a>. In the late 1680s, Edward Lloyd opened <a href="/wiki/Lloyd%27s_Coffee_House" title="Lloyd's Coffee House">a coffee house</a>, which became the meeting place for parties in the shipping industry wishing to insure cargoes and ships, including those willing to underwrite such ventures. These informal beginnings led to the establishment of the insurance market <a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Lloyd's of London</a> and several related shipping and insurance businesses.<sup class="reference" id="cite_ref-15"><a href="#cite_note-15">[15]</a></sup>
</p>
<div class="thumb tleft"><div class="thumbinner" style="width:202px;"><a class="image" href="/wiki/File:National-insurance-act-1911.jpg"><img alt="" class="thumbimage" data-file-height="598" data-file-width="440" decoding="async" height="272" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8b/National-insurance-act-1911.jpg/200px-National-insurance-act-1911.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8b/National-insurance-act-1911.jpg/300px-National-insurance-act-1911.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8b/National-insurance-act-1911.jpg/400px-National-insurance-act-1911.jpg 2x" width="200"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:National-insurance-act-1911.jpg" title="Enlarge"></a></div>Leaflet promoting the <a href="/wiki/National_Insurance_Act_1911" title="National Insurance Act 1911">National Insurance Act 1911</a>.</div></div></div>
<p>The first <a href="/wiki/Life_insurance" title="Life insurance">life insurance</a> policies were taken out in the early 18th century. The first company to offer life insurance was the <a href="/wiki/Amicable_Society_for_a_Perpetual_Assurance_Office" title="Amicable Society for a Perpetual Assurance Office">Amicable Society for a Perpetual Assurance Office</a>, founded in London in 1706 by <a href="/wiki/William_Talbot_(bishop)" title="William Talbot (bishop)">William Talbot</a> and <a href="/wiki/Allen_baronets" title="Allen baronets">Sir Thomas Allen</a>.<sup class="reference" id="cite_ref-Anzovin121_16-0"><a href="#cite_note-Anzovin121-16">[16]</a></sup><sup class="reference" id="cite_ref-17"><a href="#cite_note-17">[17]</a></sup> Upon the same principle, <a href="/wiki/Edward_Rowe_Mores" title="Edward Rowe Mores">Edward Rowe Mores</a> established the <a href="/wiki/The_Equitable_Life_Assurance_Society" title="The Equitable Life Assurance Society">Society for Equitable Assurances on Lives and Survivorship</a> in 1762.
</p><p>It was the world's first <a class="mw-redirect" href="/wiki/Mutual_insurer" title="Mutual insurer">mutual insurer</a> and it pioneered age based premiums based on <a href="/wiki/Mortality_rate" title="Mortality rate">mortality rate</a> laying "the framework for scientific insurance practice and development" and "the basis of modern life assurance upon which all life assurance schemes were subsequently based."<sup class="reference" id="cite_ref-eq_18-0"><a href="#cite_note-eq-18">[18]</a></sup>
</p><p>In the late 19th century "accident insurance" began to become available.<sup class="reference" id="cite_ref-19"><a href="#cite_note-19">[19]</a></sup> The first company to offer accident insurance was the Railway Passengers Assurance Company, formed in 1848 in England to insure against the rising number of fatalities on the nascent <a class="mw-redirect" href="/wiki/Railway" title="Railway">railway</a> system.
</p><p>By the late 19th century governments began to initiate national insurance programs against sickness and old age. <a href="/wiki/History_of_Germany" title="History of Germany">Germany</a> built on a tradition of welfare programs in Prussia and Saxony that began as early as in the 1840s. In the 1880s Chancellor <a href="/wiki/Otto_von_Bismarck" title="Otto von Bismarck">Otto von Bismarck</a> introduced old age pensions, accident insurance and medical care that formed the basis for Germany's <a href="/wiki/Welfare_state" title="Welfare state">welfare state</a>.<sup class="reference" id="cite_ref-EPH_20-0"><a href="#cite_note-EPH-20">[20]</a></sup><sup class="reference" id="cite_ref-21"><a href="#cite_note-21">[21]</a></sup> In Britain more extensive legislation was introduced by the <a href="/wiki/Liberal_Party_(UK)" title="Liberal Party (UK)">Liberal</a> government in the <a class="mw-redirect" href="/wiki/1911_National_Insurance_Act" title="1911 National Insurance Act">1911 National Insurance Act</a>. This gave the British working classes the first contributory system of insurance against illness and unemployment.<sup class="reference" id="cite_ref-22"><a href="#cite_note-22">[22]</a></sup> This system was greatly expanded after the <a class="mw-redirect" href="/wiki/Second_World_War" title="Second World War">Second World War</a> under the influence of the <a href="/wiki/Beveridge_Report" title="Beveridge Report">Beveridge Report</a>, to form the first modern <a href="/wiki/Welfare_state" title="Welfare state">welfare state</a>.<sup class="reference" id="cite_ref-EPH_20-1"><a href="#cite_note-EPH-20">[20]</a></sup><sup class="reference" id="cite_ref-23"><a href="#cite_note-23">[23]</a></sup>
</p>
<h2><span class="mw-headline" id="Principles">Principles</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=4" title="Edit section: Principles">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<p>Insurance involves <a href="/wiki/Pooling_(resource_management)" title="Pooling (resource management)">pooling</a> funds from <i>many</i> 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 an <a class="mw-redirect" href="/wiki/Insurable_risk" title="Insurable risk">insurable risk</a>, the risk insured against must meet certain characteristics. Insurance as a <a href="/wiki/Financial_intermediary" title="Financial intermediary">financial intermediary</a> is a commercial enterprise and a major part of the financial services industry, but individual entities can also <a href="/wiki/Self-insurance" title="Self-insurance">self-insure</a> through saving money for possible future losses.<sup class="reference" id="cite_ref-24"><a href="#cite_note-24">[24]</a></sup>
</p>
<h3><span class="mw-headline" id="Insurability">Insurability</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=5" title="Edit section: Insurability">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Insurability" title="Insurability">Insurability</a></div>
<p>Risk which can be insured by private companies typically share seven common characteristics:<sup class="reference" id="cite_ref-25"><a href="#cite_note-25">[25]</a></sup>
</p>
<ol><li><b>Large number of similar exposure units</b>: Since insurance operates through pooling resources, the majority of insurance policies cover individual members of large classes, allowing insurers to benefit from the <a href="/wiki/Law_of_large_numbers" title="Law of large numbers">law of large numbers</a> in which predicted losses are similar to the actual losses. Exceptions include <a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Lloyd's of London</a>, which is famous for ensuring the life or health of actors, sports figures, and other famous individuals. However, all exposures will have particular differences, which may lead to different premium rates.</li>
<li><b>Definite loss</b>: This type of loss takes place at a known time and place, and from a known cause. The classic example involves the death of an insured person on a life-insurance policy. <a href="/wiki/Fire" title="Fire">Fire</a>, <a href="/wiki/Traffic_collision" title="Traffic collision"> automobile accidents</a>, and worker injuries may all easily meet this criterion. Other types of losses may only be definite in theory. <a href="/wiki/Occupational_disease" title="Occupational disease">Occupational disease</a>, for instance, may involve prolonged exposure to injurious conditions where no specific time, place, or cause is identifiable. Ideally, the time, place, and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements.</li>
<li><b>Accidental loss</b>: The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be pure, in the sense that it results from an event for which there is only the opportunity for cost. Events that contain speculative elements such as ordinary business risks or even purchasing a lottery ticket are generally not considered insurable.</li>
<li><b>Large loss</b>: The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. For small losses, these latter costs may be several times the size of the expected cost of losses. There is hardly any point in paying such costs unless the protection offered has real value to a buyer.</li>
<li><b>Affordable premium</b>: If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, then it is not likely that insurance will be purchased, even if on offer. Furthermore, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer. If there is no such chance of loss, then the transaction may have the form of insurance, but not the substance (see the U.S. <a href="/wiki/Financial_Accounting_Standards_Board" title="Financial Accounting Standards Board">Financial Accounting Standards Board</a> pronouncement number 113: "Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts").</li>
<li><b>Calculable loss</b>: There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim.</li>
<li><b>Limited risk of catastrophically large losses</b>: Insurable losses are ideally <a href="/wiki/Independence_(probability_theory)" title="Independence (probability theory)"> independent</a> and non-catastrophic, meaning that the losses do not happen all at once and individual losses are not severe enough to bankrupt the insurer; insurers may prefer to limit their exposure to a loss from a single event to some small portion of their capital base. <a href="/wiki/Capital_(economics)" title="Capital (economics)">Capital</a> constrains insurers' ability to sell <a href="/wiki/Earthquake_insurance" title="Earthquake insurance">earthquake insurance</a> as well as wind insurance in <a href="/wiki/Tropical_cyclone" title="Tropical cyclone"> hurricane</a> zones. In the United States, the federal government insures <a href="/wiki/Flood_insurance" title="Flood insurance">flood risk</a>. In commercial fire insurance, it is possible to find single properties whose total exposed value is well in excess of any individual insurer's capital constraint. Such properties are generally shared among several insurers or are insured by a single insurer which syndicates the risk into the <a href="/wiki/Reinsurance" title="Reinsurance">reinsurance</a> market.</li></ol>
<h3><span class="mw-headline" id="Legal">Legal</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=6" title="Edit section: Legal">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>When a company insures an individual entity, there are basic legal requirements and regulations. Several commonly cited legal principles of insurance include:<sup class="reference" id="cite_ref-26"><a href="#cite_note-26">[26]</a></sup>
</p>
<ol><li><a href="/wiki/Indemnity" title="Indemnity">Indemnity</a> – the insurance company indemnifies or compensates, the insured in the case of certain losses only up to the insured's interest.</li>
<li>Benefit insurance – as it is stated in the study books of The Chartered Insurance Institute, the insurance company does not have the right of recovery from the party who caused the injury and is to compensate the Insured regardless of the fact that Insured had already sued the negligent party for the damages (for example, personal accident insurance)</li>
<li><a href="/wiki/Insurable_interest" title="Insurable interest">Insurable interest</a> – the insured typically must directly suffer from the loss.  Insurable interest must exist whether property insurance or insurance on a person is involved.  The concept requires that the insured have a "stake" in the loss or damage to the life or property insured.  What that "stake" is will be determined by the kind of insurance involved and the nature of the property ownership or relationship between the persons.  The requirement of an insurable interest is what distinguishes insurance from <a href="/wiki/Gambling" title="Gambling">gambling</a>.</li>
<li><a href="/wiki/Good_faith_(law)" title="Good faith (law)">Utmost good faith</a> – (<a href="/wiki/Uberrima_fides" title="Uberrima fides">Uberrima fides</a>) the insured and the insurer are bound by a <a href="/wiki/Good_faith_(law)" title="Good faith (law)">good faith</a> bond of honesty and fairness.  Material facts must be disclosed.</li>
<li>Contribution – insurers which have similar obligations to the insured contribute in the indemnification, according to some method.</li>
<li>Subrogation – the insurance company acquires legal rights to pursue recoveries on behalf of the insured; for example, the insurer may sue those liable for the insured's loss. The Insurers can waive their subrogation rights by using the special clauses.</li>
<li>Causa proxima, or <a href="/wiki/Proximate_cause" title="Proximate cause">proximate cause</a> – the cause of loss (the peril) must be covered under the insuring agreement of the policy, and the dominant cause must not be <a href="/wiki/Exclusion_clause" title="Exclusion clause">excluded</a></li>
<li>Mitigation – In case of any loss or casualty, the asset owner must attempt to keep loss to a minimum, as if the asset was not insured.</li></ol>
<h3><span class="mw-headline" id="Indemnification">Indemnification</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=7" title="Edit section: Indemnification">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Indemnity" title="Indemnity">Indemnity</a></div>
<p>To "indemnify" means to make whole again, or to be reinstated to the position that one was in, to the extent possible, prior to the happening of a specified event or peril. Accordingly, <a href="/wiki/Life_insurance" title="Life insurance">life insurance</a> is generally not considered to be indemnity insurance, but rather "contingent" insurance (i.e., a claim arises on the occurrence of a specified event). There are generally three types of insurance contracts that seek to indemnify an insured:
</p>
<ol><li>A "reimbursement" policy</li>
<li>A "pay on behalf" or "on behalf of policy"<sup class="reference" id="cite_ref-KulpHall_27-0"><a href="#cite_note-KulpHall-27">[27]</a></sup></li>
<li>An "indemnification" policy</li></ol>
<p>From an insured's standpoint, the result is usually the same: the insurer pays the loss and claims expenses.
</p><p>If the Insured has a "reimbursement" policy, the insured can be required to pay for a loss and then be "reimbursed" by the insurance carrier for the loss and out of pocket costs including, with the permission of the insurer, claim expenses.<sup class="reference" id="cite_ref-KulpHall_27-1"><a href="#cite_note-KulpHall-27">[27]</a></sup><sup class="reference" id="cite_ref-28"><a href="#cite_note-28">[note 1]</a></sup>
</p><p>Under a "pay on behalf" policy, the insurance carrier would defend and pay a claim on behalf of the insured who would not be out of pocket for anything. Most modern liability insurance is written on the basis of "pay on behalf" language, which enables the insurance carrier to manage and control the claim.
</p><p>Under an "indemnification" policy, the insurance carrier can generally either "reimburse" or "pay on behalf of", whichever is more beneficial to it and the insured in the claim handling process.
</p><p>An entity seeking to transfer risk (an individual, corporation, or association of any type, etc.) becomes the "insured" party once risk is assumed by an "insurer", the insuring party, by means of a <a href="/wiki/Contract" title="Contract">contract</a>, called an <a href="/wiki/Insurance_policy" title="Insurance policy">insurance policy</a>. Generally, an insurance contract includes, at a minimum, the following elements: identification of participating parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage, the particular loss event covered, the amount of coverage (i.e., the amount to be paid to the insured or beneficiary in the event of a loss), and <a href="/wiki/Exclusion_clause" title="Exclusion clause">exclusions</a> (events not covered). An insured is thus said to be "<a href="/wiki/Indemnity" title="Indemnity">indemnified</a>" against the loss covered in the policy.
</p><p>When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium. Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims – in theory for a relatively few claimants – and for <a href="/wiki/Overhead_(business)" title="Overhead (business)">overhead</a> costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer's <a href="/wiki/Profit_(accounting)" title="Profit (accounting)">profit</a>.
</p>
<h3><span class="mw-headline" id="Exclusions">Exclusions</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=8" title="Edit section: Exclusions">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Policies typically include a number of exclusions, including typically:
</p>
<ul><li><a href="/wiki/Nuclear_exclusion_clause" title="Nuclear exclusion clause">Nuclear exclusion clause</a>, excluding damage caused by nuclear and radiation accidents</li>
<li><a href="/wiki/War_exclusion_clause" title="War exclusion clause">War exclusion clause</a>, excluding damage from acts of war or terrorism.<sup class="reference" id="cite_ref-29"><a href="#cite_note-29">[28]</a></sup><sup class="reference" id="cite_ref-30"><a href="#cite_note-30">[29]</a></sup></li></ul>
<p>Insurers may prohibit certain activities which are considered dangerous and therefore excluded from coverage. One system for classifying activities according to whether they are authorised by insurers refers to "green light" approved activities and events, "yellow light" activities and events which require insurer consultation and/or waivers of liability, and "red light" activities and events which are prohibited and outside the scope of insurance cover.<sup class="reference" id="cite_ref-31"><a href="#cite_note-31">[30]</a></sup>
</p>
<h2><span class="mw-headline" id="Social_effects">Social effects</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=9" title="Edit section: Social effects">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<p>Insurance can have various effects on society through the way that it changes who bears the cost of losses and damage. On one hand it can increase fraud; on the other it can help societies and individuals prepare for catastrophes and mitigate the effects of catastrophes on both households and societies.
</p><p>Insurance can influence the probability of losses through <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a>, <a href="/wiki/Insurance_fraud" title="Insurance fraud">insurance fraud</a>, and preventive steps by the insurance company. Insurance scholars have typically used <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a> to refer to the increased loss due to unintentional carelessness and insurance fraud to refer to increased risk due to intentional carelessness or indifference.<sup class="reference" id="cite_ref-ZweifelEisen2012_32-0"><a href="#cite_note-ZweifelEisen2012-32">[31]</a></sup> Insurers attempt to address carelessness through inspections, policy provisions requiring certain types of maintenance, and possible discounts for loss mitigation efforts. While in theory insurers could encourage investment in loss reduction, some commentators have argued that in practice insurers had historically not aggressively pursued loss control measures—particularly to prevent disaster losses such as hurricanes—because of concerns over rate reductions and legal battles. However, since about 1996 insurers have begun to take a more active role in loss mitigation, such as through <a href="/wiki/Building_code" title="Building code">building codes</a>.<sup class="reference" id="cite_ref-33"><a href="#cite_note-33">[32]</a></sup>
</p>
<h3><span class="mw-headline" id="Methods_of_insurance">Methods of insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=10" title="Edit section: Methods of insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>According to the study books of The Chartered Insurance Institute, there are variant methods of insurance as follows:
</p>
<ol><li>Co-insurance – risks shared between insurers</li>
<li>Dual insurance – having two or more policies with overlapping coverage of a risk (both the individual policies would not pay separately – under a concept named contribution, they would contribute together to make up the policyholder's losses. However, in case of contingency insurances such as life insurance, dual payment is allowed)</li>
<li>Self-insurance – situations where risk is not transferred to insurance companies and solely retained by the entities or individuals themselves</li>
<li>Reinsurance – situations when the insurer passes some part of or all risks to another Insurer, called the reinsurer</li></ol>
<p><br/>
</p>
<h2><span id="Insurers.27_business_model"></span><span class="mw-headline" id="Insurers'_business_model">Insurers' business model</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=11" title="Edit section: Insurers' business model">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
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codecs=&amp;quot;vp9, opus&amp;quot;" data-title="VP9 (360P)" data-shorttitle="VP9 360P" data-transcodekey="360p.vp9.webm" data-width="640" data-height="360" data-bandwidth="627480" data-framerate="23.976"/&gt;&lt;/video&gt;&lt;/div&gt;'><img alt="File:Accidents will happen William-H.-Watson-Universal-Star-Featurette-1922.webm" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/3a/Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm/220px--Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm.jpg" style="width:220px;height:123px"/><a href="//upload.wikimedia.org/wikipedia/commons/3/3a/Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm" target="new" title="Play media"><span class="play-btn-large"><span class="mw-tmh-playtext">Play media</span></span></a></div> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm" title="Enlarge"></a></div><i>Accidents will happen</i> (William H. Watson, 1922) is a slapstick silent film about the methods and mishaps of an insurance broker. Collection <a href="/wiki/EYE_Film_Institute_Netherlands" title="EYE Film Institute Netherlands">EYE Film Institute Netherlands</a>.</div></div></div>
<p>Insurers may use the <a href="/wiki/Subscription_business_model" title="Subscription business model">subscription business model</a>, collecting premium payments periodically in return for on-going and/or <a href="/wiki/Compound_interest" title="Compound interest">compounding</a> benefits offered to policyholders.
</p>
<h3><span class="mw-headline" id="Underwriting_and_investing">Underwriting and investing</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=12" title="Edit section: Underwriting and investing">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Insurers' business model aims to collect more in premium and investment income than is paid out in losses, and to also offer a competitive price which consumers will accept. Profit can be reduced to a simple equation:
</p>
<dl><dd>Profit = <a href="/wiki/Cancellation_(insurance)" title="Cancellation (insurance)">earned premium</a> + investment income – incurred loss – underwriting expenses.</dd></dl>
<p>Insurers make money in two ways:
</p>
<ul><li>Through <a href="/wiki/Underwriting" title="Underwriting">underwriting</a>, the process by which insurers select the risks to insure and decide how much in premiums to charge for accepting those risks, and taking the brunt of the risk should it come to fruition.</li>
<li>By <a href="/wiki/Investment" title="Investment">investing</a> the premiums they collect from insured parties</li></ul>
<p>The most complicated aspect of insuring is the <a href="/wiki/Actuarial_science" title="Actuarial science">actuarial science</a> of ratemaking (price-setting) of policies, which uses <a href="/wiki/Statistics" title="Statistics">statistics</a> and <a href="/wiki/Probability" title="Probability">probability</a> to approximate the rate of future claims based on a given risk. After producing rates, the insurer will use discretion to reject or accept risks through the underwriting process.
</p><p>At the most basic level, initial rate-making involves looking at the <a href="/wiki/Frequency" title="Frequency">frequency</a> and <a class="extiw" href="https://en.wiktionary.org/wiki/severity" title="wikt:severity">severity</a> of insured perils and the expected average payout resulting from these perils. Thereafter an insurance company will collect historical loss-data, bring the loss data to <a href="/wiki/Present_value" title="Present value">present value</a>, and compare these prior losses to the premium collected in order to assess rate adequacy.<sup class="reference" id="cite_ref-34"><a href="#cite_note-34">[33]</a></sup> <a href="/wiki/Loss_ratio" title="Loss ratio">Loss ratios</a> and expense loads are also used. Rating for different risk characteristics involves - at the most basic level - comparing the losses with "loss relativities"—a policy with twice as many losses would, therefore, be charged twice as much. More complex <a class="mw-redirect" href="/wiki/Multivariate_analysis" title="Multivariate analysis">multivariate analyses</a> are sometimes used when multiple characteristics are involved and a univariate analysis could produce confounded results. Other statistical methods may be used in assessing the probability of future losses.
</p><p>Upon termination of a given policy, the amount of premium collected minus the amount paid out in claims is the insurer's <a href="/wiki/Underwriting_profit" title="Underwriting profit">underwriting profit</a> on that policy. Underwriting performance is measured by something called the "combined ratio", which is the ratio of expenses/losses to premiums.<sup class="reference" id="cite_ref-35"><a href="#cite_note-35">[34]</a></sup> A combined ratio of less than 100% indicates an underwriting profit, while anything over 100 indicates an underwriting loss. A company with a combined ratio over 100% may nevertheless remain profitable due to investment earnings.
</p><p>Insurance companies earn <a href="/wiki/Investment" title="Investment">investment</a> profits on "float". Float, or available reserve, is the amount of money on hand at any given moment that an insurer has collected in insurance premiums but has not paid out in claims. Insurers start investing insurance premiums as soon as they are collected and continue to earn interest or other income on them until claims are paid out. The <a href="/wiki/Association_of_British_Insurers" title="Association of British Insurers">Association of British Insurers</a> (grouping together 400 insurance companies and 94% of UK insurance services) has almost 20% of the investments in the <a href="/wiki/London_Stock_Exchange" title="London Stock Exchange">London Stock Exchange</a>.<sup class="reference" id="cite_ref-36"><a href="#cite_note-36">[35]</a></sup> In 2007, U.S. industry profits from float totaled $58 billion. In a 2009 letter to investors, Warren Buffett wrote, "we were <i>paid</i> $2.8 billion to hold our float in 2008".<sup class="reference" id="cite_ref-37"><a href="#cite_note-37">[36]</a></sup>
</p><p>In the <a href="/wiki/United_States" title="United States">United States</a>, the underwriting loss of <a href="/wiki/Property_insurance" title="Property insurance">property</a> and <a href="/wiki/Casualty_insurance" title="Casualty insurance">casualty insurance</a> companies was $142.3 billion in the five years ending 2003. But overall profit for the same period was $68.4 billion, as the result of float. Some insurance-industry insiders, most notably <a href="/wiki/Maurice_R._Greenberg" title="Maurice R. Greenberg">Hank Greenberg</a>, do not believe that it is possible to sustain a profit from float forever without an underwriting profit as well, but this opinion is not universally held. Reliance on float for profit has led some industry experts to call insurance companies "investment companies that raise the money for their investments by selling insurance".<sup class="reference" id="cite_ref-38"><a href="#cite_note-38">[37]</a></sup>
</p><p>Naturally, the float method is difficult to carry out in an <a class="mw-redirect" href="/wiki/Depression_(economics)" title="Depression (economics)">economically depressed</a> period. <a class="mw-redirect" href="/wiki/Bear_market" title="Bear market">Bear markets</a> do cause insurers to shift away from investments and to toughen up their underwriting standards, so a poor economy generally means high insurance-premiums. This tendency to swing between profitable and unprofitable periods over time is commonly known<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Words_to_watch#Unsupported_attributions" title="Wikipedia:Manual of Style/Words to watch"><span title="The material near this tag may use weasel words or too-vague attribution. (February 2020)">by whom?</span></a></i>]</sup> as the <a href="/wiki/Insurance_cycle" title="Insurance cycle">underwriting, or insurance, cycle</a>.<sup class="reference" id="cite_ref-39"><a href="#cite_note-39">[38]</a></sup>
</p>
<h3><span class="mw-headline" id="Claims">Claims</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=13" title="Edit section: Claims">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Claims and loss handling is the materialized utility of insurance; it is the actual "product" paid for.  Claims may be filed by insureds directly with the insurer or through <a href="/wiki/Insurance_broker" title="Insurance broker">brokers or agents</a>.  The insurer may require that the claim be filed on its own proprietary forms, or may accept claims on a standard industry form, such as those produced by <a href="/wiki/ACORD" title="ACORD">ACORD</a>.
</p><p>Insurance company claims departments employ a large number of <a href="/wiki/Claims_adjuster" title="Claims adjuster">claims adjusters</a> supported by a staff of <a href="/wiki/Records_management" title="Records management">records management</a> and <a href="/wiki/Data_entry_clerk" title="Data entry clerk">data entry clerks</a>.  Incoming claims are classified based on severity and are assigned to adjusters whose settlement authority varies with their knowledge and experience.  The adjuster undertakes an investigation of each claim, usually in close cooperation with the insured, determines if coverage is available under the terms of the insurance contract, and if so, the reasonable monetary value of the claim, and authorizes payment.
</p><p>The policyholder may hire their own <a href="/wiki/Public_adjuster" title="Public adjuster">public adjuster</a> to negotiate the settlement with the insurance company on their behalf. For policies that are complicated, where claims may be complex, the insured may take out a separate insurance policy add-on, called loss recovery insurance, which covers the cost of a public adjuster in the case of a claim.
</p><p>Adjusting liability insurance claims is particularly difficult because there is a third party involved, the <a href="/wiki/Plaintiff" title="Plaintiff">plaintiff</a>, who is under no contractual obligation to cooperate with the insurer and may in fact regard the insurer as a <a href="/wiki/Deep_pocket" title="Deep pocket">deep pocket</a>. The adjuster must obtain legal counsel for the insured (either inside "house" counsel or outside "panel" counsel), monitor litigation that may take years to complete, and appear in person or over the telephone with settlement authority at a mandatory settlement conference when requested by the judge.
</p><p>If a claims adjuster suspects under-insurance, the <a href="/wiki/Condition_of_average" title="Condition of average">condition of average</a> may come into play to limit the insurance company's exposure.
</p><p>In managing the claims handling function, insurers seek to balance the elements of customer satisfaction, administrative handling expenses, and claims overpayment leakages.  As part of this balancing act, <a href="/wiki/Insurance_fraud" title="Insurance fraud">fraudulent insurance practices</a> are a major business risk that must be managed and overcome. Disputes between insurers and insureds over the validity of claims or claims handling practices occasionally escalate into litigation (see <a href="/wiki/Insurance_bad_faith" title="Insurance bad faith">insurance bad faith</a>).
</p>
<h3><span class="mw-headline" id="Marketing">Marketing</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=14" title="Edit section: Marketing">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Insurers will often use <a class="mw-redirect" href="/wiki/Agency_(law)" title="Agency (law)">insurance agents</a> to initially market or <a class="mw-redirect" href="/wiki/Underwrite" title="Underwrite">underwrite</a> their customers. Agents can be captive, meaning they write only for one company, or independent, meaning that they can issue policies from several companies. The existence and success of companies using insurance agents is likely due to the availability of improved and personalised services. Companies also use Broking firms, Banks and other corporate entities (like Self Help Groups, Microfinance Institutions, NGOs, etc.) to market their products.<sup class="reference" id="cite_ref-40"><a href="#cite_note-40">[39]</a></sup>
</p>
<h2><span class="mw-headline" id="Types">Types</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=15" title="Edit section: Types">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<p>Any risk that can be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as perils. An insurance policy will set out in detail which perils are covered by the policy and which are not. Below are non-exhaustive lists of the many different types of insurance that exist. A single policy may cover risks in one or more of the categories set out below. For example, <a href="/wiki/Vehicle_insurance" title="Vehicle insurance">vehicle insurance</a> would typically cover both the property risk (theft or damage to the vehicle) and the liability risk (legal claims arising from an <a href="/wiki/Traffic_collision" title="Traffic collision">accident</a>). A <a href="/wiki/Home_insurance" title="Home insurance">home insurance</a> policy in the United States typically includes coverage for damage to the home and the owner's belongings, certain legal claims against the owner, and even a small amount of coverage for medical expenses of guests who are injured on the owner's property.
</p><p><a href="/wiki/Business" title="Business">Business</a> insurance can take a number of different forms, such as the various kinds of professional liability insurance, also called professional indemnity (PI), which are discussed below under that name; and the <a href="/wiki/Business_owner%27s_policy" title="Business owner's policy">business owner's policy</a> (BOP), which packages into one policy many of the kinds of coverage that a business owner needs, in a way analogous to how homeowners' insurance packages the coverages that a homeowner needs.<sup class="reference" id="cite_ref-41"><a href="#cite_note-41">[40]</a></sup>
</p>
<h3><span class="mw-headline" id="Auto_insurance">Auto insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=16" title="Edit section: Auto insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Vehicle_insurance" title="Vehicle insurance">Vehicle insurance</a></div>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:Car_crash_1.jpg"><img alt="" class="thumbimage" data-file-height="1536" data-file-width="2048" decoding="async" height="165" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/220px-Car_crash_1.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/330px-Car_crash_1.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/440px-Car_crash_1.jpg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Car_crash_1.jpg" title="Enlarge"></a></div>A wrecked vehicle in <a href="/wiki/Copenhagen" title="Copenhagen">Copenhagen</a></div></div></div>
<p>Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a <a href="/wiki/Traffic_collision" title="Traffic collision">traffic collision</a>.
</p><p>Coverage typically includes:
</p>
<ul><li>Property coverage, for damage to or theft of the car</li>
<li>Liability coverage, for the legal responsibility to others for bodily injury or property damage</li>
<li>Medical coverage, for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses</li></ul>
<h3><span class="mw-headline" id="Gap_insurance">Gap insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=17" title="Edit section: Gap insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a class="mw-redirect" href="/wiki/Gap_insurance" title="Gap insurance">Gap insurance</a></div>
<p>Gap insurance covers the excess amount on your auto loan in an instance where your insurance company does not cover the entire loan. Depending on the company's specific policies it might or might not cover the deductible as well. This coverage is marketed for those who put low <a href="/wiki/Down_payment" title="Down payment">down payments</a>, have high interest rates on their loans, and those with 60-month or longer terms. Gap insurance is typically offered by a finance company when the vehicle owner purchases their vehicle, but many auto insurance companies offer this coverage to consumers as well.
</p>
<h3><span class="mw-headline" id="Health_insurance">Health insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=18" title="Edit section: Health insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main articles: <a href="/wiki/Health_insurance" title="Health insurance">Health insurance</a> and <a href="/wiki/Dental_insurance" title="Dental insurance">Dental insurance</a></div>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:Great_western_hospital.JPG"><img alt="" class="thumbimage" data-file-height="942" data-file-width="2458" decoding="async" height="84" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/28/Great_western_hospital.JPG/220px-Great_western_hospital.JPG" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/28/Great_western_hospital.JPG/330px-Great_western_hospital.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/28/Great_western_hospital.JPG/440px-Great_western_hospital.JPG 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Great_western_hospital.JPG" title="Enlarge"></a></div>Great Western Hospital, <a href="/wiki/Swindon" title="Swindon">Swindon</a></div></div></div>
<p>Health insurance policies cover the cost of medical treatments. Dental insurance, like medical insurance, protects policyholders for dental costs. In most developed countries, all citizens receive some health coverage from their governments, paid through taxation. In most countries, health insurance is often part of an employer's benefits.
</p>
<h3><span class="mw-headline" id="Income_protection_insurance">Income protection insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=19" title="Edit section: Income protection insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:Pipe_installation_2.jpg"><img alt="" class="thumbimage" data-file-height="3168" data-file-width="3960" decoding="async" height="176" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ee/Pipe_installation_2.jpg/220px-Pipe_installation_2.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ee/Pipe_installation_2.jpg/330px-Pipe_installation_2.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ee/Pipe_installation_2.jpg/440px-Pipe_installation_2.jpg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Pipe_installation_2.jpg" title="Enlarge"></a></div><a href="/wiki/Workers%27_compensation" title="Workers' compensation">Workers' compensation</a>, or employers' liability insurance, is compulsory in some countries</div></div></div>
<ul><li><a href="/wiki/Disability_insurance" title="Disability insurance">Disability insurance</a> policies provide financial support in the event of the policyholder becoming unable to work because of disabling illness or injury. It provides monthly support to help pay such obligations as <a href="/wiki/Mortgage_loan" title="Mortgage loan">mortgage loans</a> and <a href="/wiki/Credit_card" title="Credit card">credit cards</a>. Short-term and long-term disability policies are available to individuals, but considering the expense, long-term policies are generally obtained only by those with at least six-figure incomes, such as doctors, lawyers, etc. Short-term disability insurance covers a person for a period typically up to six months, paying a stipend each month to cover medical bills and other necessities.</li>
<li>Long-term disability insurance covers an individual's expenses for the long term, up until such time as they are considered permanently disabled and thereafter Insurance companies will often try to encourage the person back into employment in preference to and before declaring them unable to work at all and therefore totally disabled.</li>
<li><a href="/wiki/Business_overhead_expense_disability_insurance" title="Business overhead expense disability insurance">Disability overhead insurance</a> allows business owners to cover the overhead expenses of their business while they are unable to work.</li>
<li><a href="/wiki/Total_permanent_disability_insurance" title="Total permanent disability insurance">Total permanent disability insurance</a> provides benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance.</li>
<li><a href="/wiki/Workers%27_compensation" title="Workers' compensation">Workers' compensation</a> insurance replaces all or part of a worker's <a href="/wiki/Wage" title="Wage">wages</a> lost and accompanying medical expenses incurred because of a job-related injury.</li></ul>
<h3><span class="mw-headline" id="Casualty_insurance">Casualty insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=20" title="Edit section: Casualty insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Casualty_insurance" title="Casualty insurance">Casualty insurance</a></div>
<p>Casualty insurance insures against accidents, not necessarily tied to any specific property. It is a broad spectrum of insurance that a number of other types of insurance could be classified, such as auto, workers compensation, and some liability insurances.
</p>
<ul><li>Crime insurance is a form of casualty insurance that covers the policyholder against losses arising from the <a class="mw-redirect" href="/wiki/Criminal_act" title="Criminal act">criminal acts</a> of third parties.  For example, a company can obtain crime insurance to cover losses arising from <a href="/wiki/Theft" title="Theft">theft</a> or <a href="/wiki/Embezzlement" title="Embezzlement">embezzlement</a>.</li>
<li><a href="/wiki/Terrorism_insurance" title="Terrorism insurance">Terrorism insurance</a> provides protection against any loss or damage caused by <a href="/wiki/Terrorism" title="Terrorism">terrorist</a> activities. In the United States in the wake of <a href="/wiki/September_11_attacks" title="September 11 attacks">9/11</a>, the <a href="/wiki/Terrorism_Risk_Insurance_Act" title="Terrorism Risk Insurance Act">Terrorism Risk Insurance Act</a> 2002 (TRIA) set up a federal program providing a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism. The program was extended until the end of 2014 by the Terrorism Risk Insurance Program Reauthorization Act 2007 (TRIPRA).</li>
<li><a href="/wiki/Kidnap_and_ransom_insurance" title="Kidnap and ransom insurance">Kidnap and ransom insurance</a> is designed to protect individuals and corporations operating in high-risk areas around the world against the perils of kidnap, extortion, wrongful detention and hijacking.</li>
<li><a href="/wiki/Political_risk_insurance" title="Political risk insurance">Political risk insurance</a> is a form of casualty insurance that can be taken out by businesses with operations in countries in which there is a risk that <a href="/wiki/Revolution" title="Revolution">revolution</a> or other <a href="/wiki/Politics" title="Politics">political</a> conditions could result in a loss.</li></ul>
<h3><span class="mw-headline" id="Life_insurance">Life insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=21" title="Edit section: Life insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Life_insurance" title="Life insurance">Life insurance</a></div>
<div class="thumb tright"><div class="thumbinner" style="width:182px;"><a class="image" href="/wiki/File:Amicable_Society_for_a_Perpetual_Assurance_Office,_Serjeants%27_Inn,_Fleet_Street,_London,_1801.jpg"><img alt="" class="thumbimage" data-file-height="624" data-file-width="441" decoding="async" height="255" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg/180px-Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg/270px-Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg/360px-Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg 2x" width="180"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Amicable_Society_for_a_Perpetual_Assurance_Office,_Serjeants%27_Inn,_Fleet_Street,_London,_1801.jpg" title="Enlarge"></a></div><a href="/wiki/Amicable_Society_for_a_Perpetual_Assurance_Office" title="Amicable Society for a Perpetual Assurance Office">Amicable Society for a Perpetual Assurance Office</a>, Serjeants' Inn, Fleet Street, <a href="/wiki/London" title="London">London</a>, 1801</div></div></div>
<p>Life insurance provides a monetary benefit to a decedent's family or other designated beneficiary, and may specifically provide for income to an insured person's family, burial, funeral and other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an <a class="mw-redirect" href="/wiki/Annuity_(financial_contracts)" title="Annuity (financial contracts)">annuity</a>. In most states, a person cannot purchase a policy on another person without their knowledge.
</p><p>Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies, are regulated as insurance, and require the same kinds of actuarial and investment management expertise that life insurance requires. Annuities and <a href="/wiki/Pension" title="Pension">pensions</a> that pay a benefit for life are sometimes regarded as insurance against the possibility that a <a href="/wiki/Retirement" title="Retirement">retiree</a> will outlive his or her financial resources. In that sense, they are the complement of life insurance and, from an underwriting perspective, are the mirror image of life insurance.
</p><p>Certain life insurance contracts accumulate <a href="/wiki/Cash" title="Cash">cash</a> values, which may be taken by the insured if the policy is surrendered or which may be borrowed against. Some policies, such as annuities and <a href="/wiki/Endowment_policy" title="Endowment policy">endowment policies</a>, are financial instruments to accumulate or <a href="/wiki/Liquidation" title="Liquidation">liquidate</a> <a href="/wiki/Wealth" title="Wealth">wealth</a> when it is needed.
</p><p>In many countries, such as the United States and the UK, the <a href="/wiki/Tax_law" title="Tax law">tax law</a> provides that the interest on this cash value is not taxable under certain circumstances. This leads to widespread use of life insurance as a tax-efficient method of <a href="/wiki/Saving" title="Saving">saving</a> as well as protection in the event of early death.
</p><p>In the United States, the tax on interest income on life insurance policies and annuities is generally deferred. However, in some cases the benefit derived from <a href="/wiki/Tax_deferral" title="Tax deferral">tax deferral</a> may be offset by a low return. This depends upon the insuring company, the type of policy and other variables (mortality, market return, etc.). Moreover, other income tax saving vehicles (e.g., IRAs, 401(k) plans, Roth IRAs) may be better alternatives for value accumulation.
</p>
<h3><span class="mw-headline" id="Burial_insurance">Burial insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=22" title="Edit section: Burial insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Burial insurance is a very old type of life insurance which is paid out upon death to cover final expenses, such as the cost of a <a href="/wiki/Funeral" title="Funeral">funeral</a>. The <a href="/wiki/Ancient_Greece" title="Ancient Greece">Greeks</a> and <a href="/wiki/Ancient_Rome" title="Ancient Rome">Romans</a> introduced burial insurance c. 600 CE when they organized <a href="/wiki/Guild" title="Guild">guilds</a> called "benevolent societies" which cared for the surviving families and paid funeral expenses of members upon death. Guilds in the <a href="/wiki/Middle_Ages" title="Middle Ages">Middle Ages</a> served a similar purpose, as did friendly societies during Victorian times.
</p>
<h3><span class="mw-headline" id="Property">Property</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=23" title="Edit section: Property">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Property_insurance" title="Property insurance">Property insurance</a></div>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:Tornado_Damage,_Illinois_2.JPG"><img alt="" class="thumbimage" data-file-height="800" data-file-width="1200" decoding="async" height="147" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Tornado_Damage%2C_Illinois_2.JPG/220px-Tornado_Damage%2C_Illinois_2.JPG" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Tornado_Damage%2C_Illinois_2.JPG/330px-Tornado_Damage%2C_Illinois_2.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Tornado_Damage%2C_Illinois_2.JPG/440px-Tornado_Damage%2C_Illinois_2.JPG 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Tornado_Damage,_Illinois_2.JPG" title="Enlarge"></a></div>This <a href="/wiki/Tornado" title="Tornado">tornado</a> damage to an <a href="/wiki/Illinois" title="Illinois">Illinois</a> home would be considered an "<a href="/wiki/Act_of_God" title="Act of God">Act of God</a>" for insurance purposes</div></div></div>
<p>Property insurance provides protection against risks to property, such as <a href="/wiki/Fire" title="Fire">fire</a>, <a href="/wiki/Theft" title="Theft">theft</a> or <a href="/wiki/Weather" title="Weather">weather</a> damage. This may include specialized forms of insurance such as fire insurance, <a href="/wiki/Flood_insurance" title="Flood insurance">flood insurance</a>, <a href="/wiki/Earthquake_insurance" title="Earthquake insurance">earthquake insurance</a>, <a href="/wiki/Home_insurance" title="Home insurance">home insurance</a>, inland marine insurance or <a href="/wiki/Boiler_insurance" title="Boiler insurance">boiler insurance</a>.
The term <i>property insurance</i> may, like casualty insurance, be used as a broad category of various subtypes of insurance, some of which are listed below:
</p>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:Plane_crash_into_Hudson_River_muchcropped.jpg"><img alt="" class="thumbimage" data-file-height="459" data-file-width="822" decoding="async" height="123" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Plane_crash_into_Hudson_River_muchcropped.jpg/220px-Plane_crash_into_Hudson_River_muchcropped.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Plane_crash_into_Hudson_River_muchcropped.jpg/330px-Plane_crash_into_Hudson_River_muchcropped.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Plane_crash_into_Hudson_River_muchcropped.jpg/440px-Plane_crash_into_Hudson_River_muchcropped.jpg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Plane_crash_into_Hudson_River_muchcropped.jpg" title="Enlarge"></a></div><a href="/wiki/US_Airways_Flight_1549" title="US Airways Flight 1549">US Airways Flight 1549</a> was <a href="/wiki/Write-off" title="Write-off">written off</a> after ditching into the <a href="/wiki/Hudson_River" title="Hudson River">Hudson River</a></div></div></div>
<ul><li><a href="/wiki/Aviation_insurance" title="Aviation insurance">Aviation insurance</a> protects <a href="/wiki/Aircraft" title="Aircraft">aircraft</a> hulls and spares, and associated liability risks, such as passenger and third-party liability. <a href="/wiki/Airport" title="Airport">Airports</a> may also appear under this subcategory, including air traffic control and refuelling operations for international airports through to smaller domestic exposures.</li>
<li><a href="/wiki/Boiler_insurance" title="Boiler insurance">Boiler insurance</a> (also known as boiler and machinery insurance, or equipment breakdown insurance) insures against accidental physical damage to boilers, equipment or machinery.</li>
<li><a href="/wiki/Builder%27s_risk_insurance" title="Builder's risk insurance">Builder's risk insurance</a> insures against the risk of physical loss or damage to property during construction. Builder's risk insurance is typically written on an "all risk" basis covering damage arising from any cause (including the negligence of the insured) not otherwise expressly excluded. Builder's risk insurance is coverage that protects a person's or organization's insurable interest in materials, fixtures or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from an insured peril.<sup class="reference" id="cite_ref-42"><a href="#cite_note-42">[41]</a></sup></li>
<li><a href="/wiki/Crop_insurance" title="Crop insurance">Crop insurance</a> may be purchased by farmers to reduce or manage various risks associated with growing crops. Such risks include crop loss or damage caused by weather, hail, drought, frost damage, pests<sup class="reference" id="cite_ref-Ali-et-al-2020_43-0"><a href="#cite_note-Ali-et-al-2020-43">[42]</a></sup> (including especially insects), or disease<sup class="reference" id="cite_ref-44"><a href="#cite_note-44">[43]</a></sup><sup class="reference" id="cite_ref-Ali-et-al-2020_43-1"><a href="#cite_note-Ali-et-al-2020-43">[42]</a></sup> - some of these being termed <a class="new" href="/w/index.php?title=Named_peril&amp;action=edit&amp;redlink=1" title="Named peril (page does not exist)">named perils</a>.<sup class="reference" id="cite_ref-Ali-et-al-2020_43-2"><a href="#cite_note-Ali-et-al-2020-43">[42]</a></sup> <a href="/wiki/Index-based_insurance" title="Index-based insurance">Index-based insurance</a> uses models of how climate extremes affect crop production to define certain climate triggers that if surpassed have high probabilities of causing substantial crop loss. When harvest losses occur associated with exceeding the climate trigger threshold, the index-insured farmer is entitled to a compensation payment.<sup class="reference" id="cite_ref-45"><a href="#cite_note-45">[44]</a></sup></li>
<li><a href="/wiki/Earthquake_insurance" title="Earthquake insurance">Earthquake insurance</a> is a form of property insurance that pays the policyholder in the event of an <a href="/wiki/Earthquake" title="Earthquake">earthquake</a> that causes damage to the property. Most ordinary home insurance policies do not cover earthquake damage. Earthquake insurance policies generally feature a high <a href="/wiki/Deductible" title="Deductible">deductible</a>.  Rates depend on location and hence the likelihood of an earthquake, as well as the <a href="/wiki/Earthquake_engineering" title="Earthquake engineering">construction of the home</a>.</li>
<li><a href="/wiki/Fidelity_bond" title="Fidelity bond">Fidelity bond</a> is a form of casualty insurance that covers policyholders for losses incurred as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.</li></ul>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg"><img alt="" class="thumbimage" data-file-height="2848" data-file-width="4288" decoding="async" height="146" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7b/FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg/220px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7b/FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg/330px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7b/FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg/440px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg" title="Enlarge"></a></div><a href="/wiki/Hurricane_Katrina" title="Hurricane Katrina">Hurricane Katrina</a> caused over $80 billion of storm and flood damage</div></div></div>
<ul><li><a href="/wiki/Flood_insurance" title="Flood insurance">Flood insurance</a> protects against property loss due to flooding. Many U.S. insurers do not provide flood insurance in some parts of the country. In response to this, the federal government created the <a href="/wiki/National_Flood_Insurance_Program" title="National Flood Insurance Program">National Flood Insurance Program</a> which serves as the insurer of last resort.</li>
<li><a href="/wiki/Home_insurance" title="Home insurance">Home insurance</a>, also commonly called hazard insurance or homeowners insurance (often abbreviated in the real estate industry as HOI), provides coverage for damage or destruction of the policyholder's home. In some geographical areas, the policy may exclude certain types of risks, such as flood or earthquake, that require additional coverage. Maintenance-related issues are typically the homeowner's responsibility. The policy may include inventory, or this can be bought as a separate policy, especially for people who rent housing. In some countries, insurers offer a package which may include liability and legal responsibility for injuries and property damage caused by members of the household, including pets.<sup class="reference" id="cite_ref-46"><a href="#cite_note-46">[45]</a></sup></li>
<li><a href="/wiki/Landlords%27_insurance" title="Landlords' insurance">Landlord insurance</a> covers residential or commercial property that is rented to tenants. It also covers the landlord's liability for the occupants at the property. Most homeowners' insurance, meanwhile, cover only owner-occupied homes and not liability or damages related to tenants.<sup class="reference" id="cite_ref-47"><a href="#cite_note-47">[46]</a></sup></li>
<li><a href="/wiki/Marine_insurance" title="Marine insurance">Marine insurance</a> and marine cargo insurance cover the loss or damage of vessels at sea or on <a href="/wiki/Inland_waterways_of_the_United_States" title="Inland waterways of the United States">inland waterways</a>, and of cargo in transit, regardless of the method of transit. When the owner of the cargo and the carrier are separate corporations, marine cargo insurance typically compensates the owner of cargo for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier or the carrier's insurance. Many marine insurance underwriters will include "time element" coverage in such policies, which extends the indemnity to cover loss of profit and other business expenses attributable to the delay caused by a covered loss.</li>
<li><a href="/wiki/Renters%27_insurance" title="Renters' insurance">Renters' insurance</a>, often called tenants' insurance, is an insurance policy that provides some of the benefits of homeowners' insurance, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a tenant makes to the structure.</li>
<li>Supplemental natural disaster insurance covers specified expenses after a natural disaster renders the policyholder's home uninhabitable. Periodic payments are made directly to the insured until the home is rebuilt or a specified time period has elapsed.</li>
<li><a class="mw-redirect" href="/wiki/Surety_bond" title="Surety bond">Surety bond</a> insurance is a three-party insurance guaranteeing the performance of the principal.</li></ul>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:WTC_smoking_on_9-11.jpeg"><img alt="" class="thumbimage" data-file-height="1200" data-file-width="1600" decoding="async" height="165" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/35/WTC_smoking_on_9-11.jpeg/220px-WTC_smoking_on_9-11.jpeg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/35/WTC_smoking_on_9-11.jpeg/330px-WTC_smoking_on_9-11.jpeg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/35/WTC_smoking_on_9-11.jpeg/440px-WTC_smoking_on_9-11.jpeg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:WTC_smoking_on_9-11.jpeg" title="Enlarge"></a></div>The demand for <a href="/wiki/Terrorism_insurance" title="Terrorism insurance">terrorism insurance</a> surged after <a href="/wiki/September_11_attacks" title="September 11 attacks">9/11</a></div></div></div>
<ul><li>Volcano insurance is a specialized insurance protecting against damage arising specifically from <a href="/wiki/Volcano" title="Volcano">volcanic eruptions</a>.</li>
<li>Windstorm insurance is an insurance covering the damage that can be caused by wind events such as <a href="/wiki/Tropical_cyclone" title="Tropical cyclone">hurricanes</a>.</li></ul>
<h3><span class="mw-headline" id="Liability">Liability</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=24" title="Edit section: Liability">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Liability_insurance" title="Liability insurance">Liability insurance</a></div>
<p>Liability insurance is a very broad superset that covers legal claims against the insured. Many types of insurance include an aspect of liability coverage. For example, a homeowner's insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies against the harm that a crashing car can cause to others' lives, health, or property. The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict. Liability policies typically cover only the negligence of the insured, and will not apply to results of wilful or intentional acts by the insured.
</p>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:Sign_of_the_Times-Foreclosure.jpg"><img alt="" class="thumbimage" data-file-height="2592" data-file-width="3456" decoding="async" height="165" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Sign_of_the_Times-Foreclosure.jpg/220px-Sign_of_the_Times-Foreclosure.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Sign_of_the_Times-Foreclosure.jpg/330px-Sign_of_the_Times-Foreclosure.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Sign_of_the_Times-Foreclosure.jpg/440px-Sign_of_the_Times-Foreclosure.jpg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Sign_of_the_Times-Foreclosure.jpg" title="Enlarge"></a></div>The <a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">subprime mortgage crisis</a> was the source of many <a href="/wiki/Liability_insurance" title="Liability insurance">liability insurance</a> losses</div></div></div>
<ul><li><a href="/wiki/Public_liability" title="Public liability">Public liability</a> insurance or general liability insurance covers a business or organization against claims should its operations injure a member of the public or damage their property in some way.</li>
<li><a href="/wiki/Directors_and_officers_liability_insurance" title="Directors and officers liability insurance">Directors and officers liability insurance</a> (D&amp;O) protects an organization (usually a corporation) from costs associated with litigation resulting from errors made by directors and officers for which they are liable.</li>
<li>Environmental liability or environmental impairment insurance protects the insured from bodily injury, property damage and cleanup costs as a result of the dispersal, release or escape of pollutants.</li>
<li><a href="/wiki/Professional_liability_insurance" title="Professional liability insurance">Errors and omissions insurance</a> (E&amp;O) is business liability insurance for professionals such as insurance agents, real estate agents and brokers, architects, third-party administrators (TPAs) and other business professionals.</li>
<li><a href="/wiki/Prize_indemnity_insurance" title="Prize indemnity insurance">Prize indemnity insurance</a> protects the insured from giving away a large prize at a specific event. Examples would include offering prizes to contestants who can make a half-court shot at a <a href="/wiki/Basketball" title="Basketball">basketball</a> game, or a <a href="/wiki/Hole_in_one" title="Hole in one">hole-in-one</a> at a <a href="/wiki/Golf" title="Golf">golf</a> tournament.</li>
<li><a href="/wiki/Professional_liability_insurance" title="Professional liability insurance">Professional liability insurance</a>, also called <a class="mw-redirect" href="/wiki/Professional_indemnity_insurance" title="Professional indemnity insurance">professional indemnity insurance</a> (PI), protects insured professionals such as architectural corporations and medical practitioners against potential negligence claims made by their patients/clients.  Professional liability insurance may take on different names depending on the profession.  For example, professional liability insurance in reference to the medical profession may be called <a href="/wiki/Medical_malpractice" title="Medical malpractice">medical malpractice</a> insurance.</li></ul>
<p>Often a commercial insured's liability insurance program consists of several layers.  The first layer of insurance generally consists of primary insurance, which provides first dollar indemnity for judgments and settlements up to the limits of liability of the primary policy.  Generally, primary insurance is subject to a deductible and obligates the insured to defend the insured against lawsuits, which is normally accomplished by assigning counsel to defend the insured.  In many instances, a commercial insured may elect to self-insure.  Above the primary insurance or self-insured retention, the insured may have one or more layers of excess insurance to provide coverage additional limits of indemnity protection. There are a variety of types of excess insurance, including "stand-alone" excess policies (policies that contain their own terms, conditions, and exclusions), "follow form" excess insurance (policies that follow the terms of the underlying policy except as specifically provided), and "umbrella" insurance policies (excess insurance that in some circumstances could provide coverage that is broader than the underlying insurance).<sup class="reference" id="cite_ref-48"><a href="#cite_note-48">[47]</a></sup>
</p>
<h3><span class="mw-headline" id="Credit">Credit</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=25" title="Edit section: Credit">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Payment_protection_insurance" title="Payment protection insurance">Payment protection insurance</a></div>
<p>Credit insurance repays some or all of a <a href="/wiki/Loan" title="Loan">loan</a> when the borrower is insolvent.
</p>
<ul><li><a href="/wiki/Mortgage_insurance" title="Mortgage insurance">Mortgage insurance</a> insures the lender against default by the borrower. Mortgage insurance is a form of credit insurance, although the name "credit insurance" more often is used to refer to policies that cover other kinds of debt.</li>
<li>Many credit cards offer payment protection plans which are a form of credit insurance.</li>
<li><a href="/wiki/Trade_credit_insurance" title="Trade credit insurance">Trade credit insurance</a> is business insurance over the accounts receivable of the insured. The policy pays the policy holder for covered accounts receivable if the debtor defaults on payment.</li>
<li><a href="/wiki/Collateral_protection_insurance" title="Collateral protection insurance">Collateral protection insurance</a> (CPI) insures property (primarily vehicles) held as collateral for loans made by lending institutions.</li></ul>
<h3><span class="mw-headline" id="Cyber_Attack_Insurance">Cyber Attack Insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=26" title="Edit section: Cyber Attack Insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Cyber-insurance is a business lines insurance product intended to provide coverage to corporations from Internet-based <a href="/wiki/Risk" title="Risk">risks</a>, and more generally from risks relating to <a href="/wiki/Information_technology" title="Information technology">information technology</a> infrastructure, information privacy, information governance liability, and activities related thereto. 
</p>
<h3><span class="mw-headline" id="Other_types">Other types</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=27" title="Edit section: Other types">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<ul><li>All-risk insurance is an insurance that covers a wide range of incidents and perils, except those noted in the policy. All-risk insurance is different from peril-specific insurance that cover losses from only those perils listed in the policy.<sup class="reference" id="cite_ref-49"><a href="#cite_note-49">[48]</a></sup> In <a class="mw-redirect" href="/wiki/Car_insurance" title="Car insurance">car insurance</a>, all-risk policy includes also the damages caused by the own driver.</li></ul>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:2006GoodwoodBreedersCup.jpg"><img alt="" class="thumbimage" data-file-height="643" data-file-width="900" decoding="async" height="157" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e9/2006GoodwoodBreedersCup.jpg/220px-2006GoodwoodBreedersCup.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e9/2006GoodwoodBreedersCup.jpg/330px-2006GoodwoodBreedersCup.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e9/2006GoodwoodBreedersCup.jpg/440px-2006GoodwoodBreedersCup.jpg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:2006GoodwoodBreedersCup.jpg" title="Enlarge"></a></div>High-value horses may be insured under a <a href="/wiki/Thoroughbred" title="Thoroughbred">bloodstock</a> policy</div></div></div>
<ul><li>Bloodstock insurance covers individual <a href="/wiki/Horse" title="Horse">horses</a> or a number of horses under common ownership. Coverage is typically for mortality as a result of accident, illness or disease but may extend to include infertility, in-transit loss, veterinary fees, and prospective foal.</li>
<li><a href="/wiki/Business_interruption_insurance" title="Business interruption insurance">Business interruption insurance</a> covers the loss of income, and the expenses incurred, after a covered peril interrupts normal business operations.</li>
<li><a href="/wiki/Defense_Base_Act" title="Defense Base Act">Defense Base Act</a> (DBA) insurance provides coverage for civilian workers hired by the government to perform contracts outside the United States and Canada. DBA is required for all U.S. citizens, U.S. residents, U.S. Green Card holders, and all employees or subcontractors hired on overseas government contracts. Depending on the country, foreign nationals must also be covered under DBA. This coverage typically includes expenses related to medical treatment and loss of wages, as well as disability and death benefits.</li>
<li><a href="/wiki/Expatriate_insurance" title="Expatriate insurance">Expatriate insurance</a> provides individuals and organizations operating outside of their home country with protection for automobiles, property, health, liability and business pursuits.</li>
<li>Hired-in Plant Insurance covers liability where, under a contract of hire, the customer is liable to pay for the cost of <a class="mw-redirect" href="/wiki/Plant_Hire" title="Plant Hire">hired-in</a> equipment and for any rental charges due to a plant hire firm, such as construction plant and machinery.<sup class="reference" id="cite_ref-50"><a href="#cite_note-50">[49]</a></sup></li>
<li><a href="/wiki/Legal_expenses_insurance" title="Legal expenses insurance">Legal expenses insurance</a> covers policyholders for the potential costs of legal action against an institution or an individual. When something happens which triggers the need for legal action, it is known as "the event". There are two main types of legal expenses insurance: <a href="/wiki/Legal_expenses_insurance#Before_the_event_insurance" title="Legal expenses insurance">before the event insurance</a> and <a href="/wiki/Legal_expenses_insurance#After_the_event_insurance" title="Legal expenses insurance">after the event insurance</a>.</li>
<li>Livestock insurance is a specialist policy provided to, for example, commercial or hobby farms, aquariums, fish farms or any other animal holding. Cover is available for mortality or economic slaughter as a result of accident, illness or disease but can extend to include destruction by government order.</li>
<li>Media liability insurance is designed to cover professionals that engage in film and television production and print, against risks such as <a href="/wiki/Defamation" title="Defamation">defamation</a>.</li>
<li>Nuclear incident insurance covers damages resulting from an <a class="mw-redirect" href="/wiki/Nuclear_and_radiation_accidents" title="Nuclear and radiation accidents">incident involving radioactive materials</a> and is generally arranged at the national level. (See the <a href="/wiki/Nuclear_exclusion_clause" title="Nuclear exclusion clause">nuclear exclusion clause</a> and, for the United States, the <a href="/wiki/Price%E2%80%93Anderson_Nuclear_Industries_Indemnity_Act" title="Price–Anderson Nuclear Industries Indemnity Act">Price–Anderson Nuclear Industries Indemnity Act</a>.)</li>
<li><a href="/wiki/Pet_insurance" title="Pet insurance">Pet insurance</a> insures pets against accidents and illnesses; some companies cover routine/wellness care and burial, as well.</li>
<li><a href="/wiki/Pollution_insurance" title="Pollution insurance">Pollution insurance</a> usually takes the form of first-party coverage for contamination of insured property either by external or on-site sources. Coverage is also afforded for liability to third parties arising from contamination of air, water, or land due to the sudden and accidental release of hazardous materials from the insured site. The policy usually covers the costs of cleanup and may include coverage for releases from underground storage tanks. Intentional acts are specifically excluded.</li>
<li>Purchase insurance is aimed at providing protection on the products people purchase. Purchase insurance can cover individual purchase protection, <a href="/wiki/Warranty" title="Warranty">warranties</a>, <a href="/wiki/Guarantee" title="Guarantee">guarantees</a>, care plans and even mobile phone insurance. Such insurance is normally very limited in the scope of problems that are covered by the policy.</li>
<li>Tax insurance is increasingly being used in corporate transactions to protect taxpayers in the event that a tax position it has taken is challenged by the IRS or a state, local, or foreign taxing authority<sup class="reference" id="cite_ref-51"><a href="#cite_note-51">[50]</a></sup></li>
<li><a href="/wiki/Title_insurance" title="Title insurance">Title insurance</a> provides a guarantee that title to <a href="/wiki/Real_property" title="Real property">real property</a> is vested in the purchaser or <a href="/wiki/Mortgage_law" title="Mortgage law">mortgagee</a>, free and clear of <a href="/wiki/Lien" title="Lien">liens</a> or encumbrances. It is usually issued in conjunction with a search of the public records performed at the time of a <a href="/wiki/Real_estate" title="Real estate">real estate</a> transaction.</li>
<li><a href="/wiki/Travel_insurance" title="Travel insurance">Travel insurance</a> is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses, loss of personal belongings, travel delay, and personal liabilities.</li>
<li><a href="/wiki/Tuition_insurance" title="Tuition insurance">Tuition insurance</a> insures students against involuntary withdrawal from cost-intensive educational institutions</li>
<li><a href="/wiki/Interest_rate_insurance" title="Interest rate insurance">Interest rate insurance</a> protects the holder from adverse changes in interest rates, for instance for those with a variable rate loan or mortgage</li>
<li>Divorce insurance is a form of contractual liability insurance that pays the insured a cash benefit if their marriage ends in divorce.</li></ul>
<h3><span class="mw-headline" id="Insurance_financing_vehicles">Insurance financing vehicles</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=28" title="Edit section: Insurance financing vehicles">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<ul><li>Fraternal insurance is provided on a cooperative basis by <a href="/wiki/Benefit_society" title="Benefit society">fraternal benefit societies</a> or other social organizations.<sup class="reference" id="cite_ref-52"><a href="#cite_note-52">[51]</a></sup></li>
<li><a href="/wiki/No-fault_insurance" title="No-fault insurance">No-fault insurance</a> is a type of insurance policy (typically automobile insurance) where insureds are indemnified by their own insurer regardless of fault in the incident.</li>
<li>Protected self-insurance is an alternative risk financing mechanism in which an organization retains the mathematically calculated cost of risk within the organization and transfers the catastrophic risk with specific and aggregate limits to an insurer so the maximum total cost of the program is known. A properly designed and underwritten Protected Self-Insurance Program reduces and stabilizes the cost of insurance and provides valuable risk management information.</li>
<li>Retrospectively rated insurance is a method of establishing a premium on large commercial accounts. The final premium is based on the insured's actual loss experience during the policy term, sometimes subject to a minimum and maximum premium, with the final premium determined by a formula. Under this plan, the current year's premium is based partially (or wholly) on the current year's losses, although the premium adjustments may take months or years beyond the current year's expiration date. The rating formula is guaranteed in the insurance contract. Formula: retrospective premium = converted loss + basic premium × tax multiplier. Numerous variations of this formula have been developed and are in use.</li>
<li>Formal <a href="/wiki/Self-insurance" title="Self-insurance">self-insurance</a> (active risk retention) is the deliberate decision to pay for otherwise insurable losses out of one's own money.<sup class="reference" id="cite_ref-53"><a href="#cite_note-53">[52]</a></sup> This can be done on a formal basis by establishing a separate fund into which funds are deposited on a periodic basis, or by simply forgoing the purchase of available insurance and paying out-of-pocket. Self-insurance is usually used to pay for high-frequency, low-severity losses.<sup class="reference" id="cite_ref-Teale2013_54-0"><a href="#cite_note-Teale2013-54">[53]</a></sup> Such losses, if covered by conventional insurance, mean having to pay a premium that includes loadings for the company's general expenses, cost of putting the policy on the books, acquisition expenses, premium taxes, and contingencies. While this is true for all insurance, for small, frequent losses the transaction costs may exceed the benefit of volatility reduction that insurance otherwise affords.<sup class="reference" id="cite_ref-Teale2013_54-1"><a href="#cite_note-Teale2013-54">[53]</a></sup></li>
<li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a> is a type of insurance purchased by insurance companies or self-insured employers to protect against unexpected losses. <a href="/wiki/Financial_reinsurance" title="Financial reinsurance">Financial reinsurance</a> is a form of reinsurance that is primarily used for capital management rather than to transfer insurance risk.</li>
<li><a href="/wiki/Social_insurance" title="Social insurance">Social insurance</a> can be many things to many people in many countries. But a summary of its essence is that it is a collection of insurance coverages (including components of life insurance, disability income insurance, unemployment insurance, health insurance, and others), plus retirement savings, that requires participation by all citizens. By forcing everyone in society to be a policyholder and pay premiums, it ensures that everyone can become a claimant when or if they need to. Along the way, this inevitably becomes related to other concepts such as the justice system and the <a href="/wiki/Welfare_state" title="Welfare state">welfare state</a>. This is a large, complicated topic that engenders tremendous debate, which can be further studied in the following articles (and others):
<ul><li><a href="/wiki/National_Insurance" title="National Insurance">National Insurance</a></li>
<li><a href="/wiki/Social_safety_net" title="Social safety net">Social safety net</a></li>
<li><a class="mw-redirect" href="/wiki/Social_security" title="Social security">Social security</a></li>
<li><a class="mw-redirect" href="/wiki/Social_Security_debate_(United_States)" title="Social Security debate (United States)">Social Security debate (United States)</a></li>
<li><a href="/wiki/Social_Security_(United_States)" title="Social Security (United States)">Social Security (United States)</a></li>
<li><a class="mw-redirect" href="/wiki/Social_welfare_provision" title="Social welfare provision">Social welfare provision</a></li></ul></li>
<li><a href="/wiki/Stop-loss_insurance" title="Stop-loss insurance">Stop-loss insurance</a> provides protection against catastrophic or unpredictable losses. It is purchased by organizations who do not want to assume 100% of the liability for losses arising from the plans. Under a stop-loss policy, the insurance company becomes liable for losses that exceed certain limits called deductibles.</li></ul>
<h3><span class="mw-headline" id="Closed_community_and_governmental_self-insurance">Closed community and governmental self-insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=29" title="Edit section: Closed community and governmental self-insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Some communities prefer to create virtual insurance among themselves by other means than contractual risk transfer, which assigns explicit numerical values to risk. A number of <a href="/wiki/Religion" title="Religion">religious</a> groups, including the <a href="/wiki/Amish" title="Amish">Amish</a> and some <a class="mw-redirect" href="/wiki/Muslim" title="Muslim">Muslim</a> groups, depend on support provided by their <a href="/wiki/Community" title="Community">communities</a> when <a href="/wiki/Disaster" title="Disaster">disasters</a> strike. The risk presented by any given person is assumed collectively by the community who all bear the cost of rebuilding lost property and supporting people whose needs are suddenly greater after a loss of some kind. In supportive communities where others can be trusted to follow community leaders, this tacit form of insurance can work.  In this manner the community can even out the extreme differences in insurability that exist among its members. Some further justification is also provided by invoking the <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a> of explicit insurance contracts.
</p><p>In the <a href="/wiki/United_Kingdom" title="United Kingdom">United Kingdom</a>, <a href="/wiki/The_Crown" title="The Crown">The Crown</a> (which, for practical purposes, meant the <a href="/wiki/Civil_service" title="Civil service">civil service</a>) did not insure property such as government buildings.  If a government building was damaged, the cost of repair would be met from public funds because, in the long run, this was cheaper than paying insurance premiums. Since many UK government buildings have been sold to property companies and rented back, this arrangement is now less common.
</p><p>In the United States, the most prevalent form of <a href="/wiki/Self-insurance" title="Self-insurance">self-insurance</a> is governmental risk management pools. They are self-funded cooperatives, operating as carriers of coverage for the majority of governmental entities today, such as county governments, municipalities, and school districts.  Rather than these entities independently self-insure and risk bankruptcy from a large judgment or catastrophic loss, such governmental entities form a <a href="/wiki/Risk_pool" title="Risk pool">risk pool</a>. Such pools begin their operations by capitalization through member deposits or bond issuance. Coverage (such as general liability, auto liability, professional liability, workers compensation, and property) is offered by the pool to its members, similar to coverage offered by insurance companies. However, self-insured pools offer members lower rates (due to not needing insurance brokers), increased benefits (such as loss prevention services) and subject matter expertise. Of approximately 91,000 distinct governmental entities operating in the United States, 75,000 are members of self-insured pools in various lines of coverage, forming approximately 500 pools. Although a relatively small corner of the insurance market, the annual contributions (self-insured premiums) to such pools have been estimated up to 17 billion dollars annually.<sup class="reference" id="cite_ref-55"><a href="#cite_note-55">[54]</a></sup>
</p>
<h2><span class="mw-headline" id="Insurance_companies">Insurance companies</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=30" title="Edit section: Insurance companies">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<table class="box-More_citations_needed plainlinks metadata ambox ambox-content ambox-Refimprove" role="presentation"><tbody><tr><td class="mbox-image"><div style="width:52px"><a class="image" href="/wiki/File:Question_book-new.svg"><img alt="" data-file-height="399" data-file-width="512" decoding="async" height="39" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" width="50"/></a></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>needs additional citations for <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">verification</a></b>.<span class="hide-when-compact"> Please help <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Insurance&amp;action=edit">improve this article</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a>. Unsourced material may be challenged and removed.<br/><small><span class="plainlinks"><i>Find sources:</i> <a class="external text" href="//www.google.com/search?as_eq=wikipedia&amp;q=%22Insurance%22" rel="nofollow">"Insurance"</a> – <a class="external text" href="//www.google.com/search?tbm=nws&amp;q=%22Insurance%22+-wikipedia" rel="nofollow">news</a> <b>·</b> <a class="external text" href="//www.google.com/search?&amp;q=%22Insurance%22&amp;tbs=bkt:s&amp;tbm=bks" rel="nofollow">newspapers</a> <b>·</b> <a class="external text" href="//www.google.com/search?tbs=bks:1&amp;q=%22Insurance%22+-wikipedia" rel="nofollow">books</a> <b>·</b> <a class="external text" href="//scholar.google.com/scholar?q=%22Insurance%22" rel="nofollow">scholar</a> <b>·</b> <a class="external text" href="https://www.jstor.org/action/doBasicSearch?Query=%22Insurance%22&amp;acc=on&amp;wc=on" rel="nofollow">JSTOR</a></span></small></span> <span class="date-container"><i>(<span class="date">January 2019</span>)</i></span><span class="hide-when-compact"><i> (<a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this template message</a>)</i></span></div></td></tr></tbody></table>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:Republic_Fire_Insurance_Company_certificate.jpg"><img alt="" class="thumbimage" data-file-height="750" data-file-width="968" decoding="async" height="170" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a1/Republic_Fire_Insurance_Company_certificate.jpg/220px-Republic_Fire_Insurance_Company_certificate.jpg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a1/Republic_Fire_Insurance_Company_certificate.jpg/330px-Republic_Fire_Insurance_Company_certificate.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a1/Republic_Fire_Insurance_Company_certificate.jpg/440px-Republic_Fire_Insurance_Company_certificate.jpg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:Republic_Fire_Insurance_Company_certificate.jpg" title="Enlarge"></a></div>Certificate issued by Republic Fire Insurance Co. of New York c. 1860</div></div></div>
<p>Insurance companies may sell any combination of insurance types, but are often classified into three groups:<sup class="reference" id="cite_ref-:0_56-0"><a href="#cite_note-:0-56">[55]</a></sup>
</p>
<ul><li><a href="/wiki/Life_insurance" title="Life insurance">Life insurance</a> companies, which sell life insurance, annuities and pensions products and bear similarities to <a href="/wiki/Asset_management" title="Asset management">asset management</a> businesses<sup class="reference" id="cite_ref-:0_56-1"><a href="#cite_note-:0-56">[55]</a></sup></li>
<li>Non-life or <a href="/wiki/Property_insurance" title="Property insurance">property</a>/<a href="/wiki/Casualty_insurance" title="Casualty insurance">casualty insurance</a> companies, which sell other types of insurance.</li>
<li><a href="/wiki/Health_insurance" title="Health insurance">Health insurance</a> companies, which sometimes sell life insurance or <a href="/wiki/Employee_benefits" title="Employee benefits">employee benefits</a> as well</li></ul>
<p>General insurance companies can be further divided into these sub categories.
</p>
<ul><li>Standard lines</li>
<li>Excess lines</li></ul>
<p>In most countries, life and non-life insurers are subject to different regulatory regimes and different <a href="/wiki/Tax" title="Tax">tax</a> and <a href="/wiki/Accounting" title="Accounting">accounting</a> rules. The main reason for the distinction between the two types of company is that life, annuity, and pension business is very long-term in nature – coverage for life assurance or a pension can cover risks over many <a href="/wiki/Decade" title="Decade">decades</a>. By contrast, non-life insurance cover usually covers a shorter period, such as one year.
</p>
<h3><span class="mw-headline" id="Mutual_versus_proprietary">Mutual versus proprietary</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=31" title="Edit section: Mutual versus proprietary">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Mutual_insurance" title="Mutual insurance">Mutual insurance</a></div>
<p>Insurance companies are generally classified as either <a href="/wiki/Mutual_insurance" title="Mutual insurance">mutual</a> or proprietary companies.<sup class="reference" id="cite_ref-57"><a href="#cite_note-57">[56]</a></sup> Mutual companies are owned by the policyholders, while shareholders (who may or may not own policies) own proprietary insurance companies.
</p><p><a href="/wiki/Demutualization" title="Demutualization">Demutualization</a> of mutual insurers to form stock companies, as well as the formation of a hybrid known as a mutual holding company, became common in some countries, such as the United States, in the late 20th century.  However, not all states permit mutual holding companies.
</p>
<h3><span class="mw-headline" id="Reinsurance_companies">Reinsurance companies</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=32" title="Edit section: Reinsurance companies">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a> companies are insurance companies that sell policies to other insurance companies, allowing them to reduce their risks and protect themselves from substantial losses.<sup class="reference" id="cite_ref-The_Business_Model_of_Reinsurance_Companies_58-0"><a href="#cite_note-The_Business_Model_of_Reinsurance_Companies-58">[57]</a></sup> The reinsurance market is dominated by a few very large companies, with huge reserves. A reinsurer may also be a direct writer of insurance risks as well.
</p>
<h3><span class="mw-headline" id="Captive_insurance_companies">Captive insurance companies</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=33" title="Edit section: Captive insurance companies">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Captive_insurance" title="Captive insurance">Captive insurance</a></div>
<p><a href="/wiki/Captive_insurance" title="Captive insurance">Captive insurance</a> companies may be defined as limited-purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups. This definition can sometimes be extended to include some of the risks of the parent company's customers. In short, it is an in-house self-insurance vehicle. Captives may take the form of a "pure" entity, which is a 100% subsidiary of the self-insured parent company; of a "mutual" captive, which insures the collective risks of members of an industr); and of an "association" captive, which self-insures individual risks of the members of a professional, commercial or industrial association. Captives represent commercial, economic and tax advantages to their sponsors because of the reductions in costs they help create and for the ease of insurance risk management and the flexibility for cash flows they generate. Additionally, they may provide coverage of risks which is neither available nor offered in the traditional insurance market at reasonable prices.
</p><p>The types of risk that a captive can underwrite for their parents include property damage, public and product liability, professional indemnity, employee benefits, employers' liability, motor and medical aid expenses. The captive's exposure to such risks may be limited by the use of reinsurance.
</p><p>Captives are becoming an increasingly important component of the <a href="/wiki/Risk_management" title="Risk management">risk management</a> and risk financing strategy of their parent. This can be understood against the following background:
</p>
<ul><li>Heavy and increasing premium costs in almost every line of coverage</li>
<li>Difficulties in insuring certain types of fortuitous risk</li>
<li>Differential coverage standards in various parts of the world</li>
<li>Rating structures which reflect market trends rather than individual loss experience</li>
<li>Insufficient credit for deductibles or loss control efforts</li></ul>
<h3><span class="mw-headline" id="Other_forms">Other forms</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=34" title="Edit section: Other forms">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Other possible forms for an insurance company include <a href="/wiki/Reciprocal_inter-insurance_exchange" title="Reciprocal inter-insurance exchange">reciprocals</a>, in which policyholders reciprocate in sharing risks, and Lloyd's organizations.<sup class="reference" id="cite_ref-Lloyds_Organizations_59-0"><a href="#cite_note-Lloyds_Organizations-59">[58]</a></sup>
</p>
<h3><span class="mw-headline" id="Admitted_versus_non-admitted">Admitted versus non-admitted</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=35" title="Edit section: Admitted versus non-admitted">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Admitted insurance companies are those in the United States that have been admitted or licensed by the state licensing agency. The insurance they sell is called <b>admitted insurance</b>. Non-admitted companies have not been approved by the state licensing agency, but are allowed to sell insurance under special circumstances when they meet an insurance need that admitted companies cannot or will not meet.<sup class="reference" id="cite_ref-60"><a href="#cite_note-60">[59]</a></sup>
</p>
<h3><span class="mw-headline" id="Insurance_consultants">Insurance consultants</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=36" title="Edit section: Insurance consultants">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>There are also companies known as "insurance consultants". Like a mortgage broker, these companies are paid a fee by the customer to shop around for the best insurance policy among many companies. Similar to an insurance consultant, an "insurance broker" also shops around for the best insurance policy among many companies. However, with insurance brokers, the fee is usually paid in the form of commission from the insurer that is selected rather than directly from the client.
</p><p>Neither insurance consultants nor insurance brokers are insurance companies and no risks are transferred to them in insurance transactions. Third party administrators are companies that perform underwriting and sometimes claims handling services for insurance companies.  These companies often have special expertise that the insurance companies do not have.
</p>
<h3><span class="mw-headline" id="Financial_stability_and_rating">Financial stability and rating</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=37" title="Edit section: Financial stability and rating">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>The financial stability and strength of an insurance company should be a major consideration when buying an insurance contract. An insurance premium paid currently provides coverage for losses that might arise many years in the future.  For that reason, the viability of the insurance carrier is very important. In recent years, a number of insurance companies have become insolvent, leaving their policyholders with no coverage (or coverage only from a government-backed insurance pool or other arrangement with less attractive payouts for losses). A number of independent rating agencies provide information and rate the financial viability of insurance companies.
</p><p>Insurance companies are rated by various agencies such as <a class="mw-redirect" href="/wiki/A._M._Best" title="A. M. Best">A. M. Best</a>. The ratings include the company's financial strength, which measures its ability to pay claims. It also rates financial instruments issued by the insurance company, such as bonds, notes, and securitization products.
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<h2><span class="mw-headline" id="Across_the_world">Across the world</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=38" title="Edit section: Across the world">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:2005life_premia.PNG"><img alt="" class="thumbimage" data-file-height="625" data-file-width="1425" decoding="async" height="96" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/2005life_premia.PNG/220px-2005life_premia.PNG" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/2005life_premia.PNG/330px-2005life_premia.PNG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/36/2005life_premia.PNG/440px-2005life_premia.PNG 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:2005life_premia.PNG" title="Enlarge"></a></div>Life insurance premiums written in 2005</div></div></div>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:2005nonlife_premia.PNG"><img alt="" class="thumbimage" data-file-height="625" data-file-width="1425" decoding="async" height="96" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b9/2005nonlife_premia.PNG/220px-2005nonlife_premia.PNG" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b9/2005nonlife_premia.PNG/330px-2005nonlife_premia.PNG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b9/2005nonlife_premia.PNG/440px-2005nonlife_premia.PNG 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:2005nonlife_premia.PNG" title="Enlarge"></a></div>Non-life insurance premiums written in 2005</div></div></div>
<p>Global insurance premiums grew by 2.7% in inflation-adjusted terms in 2010 to $4.3 trillion, climbing above pre-crisis levels. The return to growth and record premiums generated during the year followed two years of decline in real terms. Life insurance premiums increased by 3.2% in 2010 and non-life premiums by 2.1%. While industrialised countries saw an increase in premiums of around 1.4%, insurance markets in emerging economies saw rapid expansion with 11% growth in premium income. The global insurance industry was sufficiently capitalised to withstand the financial crisis of 2008 and 2009 and most insurance companies restored their capital to pre-crisis levels by the end of 2010. With the continuation of the gradual recovery of the global economy, it is likely the insurance industry will continue to see growth in premium income both in industrialised countries and emerging markets in 2011.
</p><p>Advanced economies account for the bulk of global insurance. With premium income of $1.62 trillion, Europe was the most important region in 2010, followed by North America $1.41 trillion and Asia $1.16 trillion. Europe has however seen a decline in premium income during the year in contrast to the growth seen in North America and Asia. The top four countries generated more than a half of premiums. The United States and Japan alone accounted for 40% of world insurance, much higher than their 7% share of the global population. Emerging economies accounted for over 85% of the world's population but only around 15% of premiums. Their markets are however growing at a quicker pace.<sup class="reference" id="cite_ref-61"><a href="#cite_note-61">[60]</a></sup> The country expected to have the biggest impact on the insurance share distribution across the world is China. According to <a href="/wiki/Sam_Radwan" title="Sam Radwan">Sam Radwan</a> of <a class="mw-redirect" href="/wiki/ENHANCE_International_LLC" title="ENHANCE International LLC">ENHANCE International LLC</a>, low premium penetration (insurance premium as a % of GDP), an ageing population and the largest car market in terms of new sales, premium growth has averaged 15–20% in the past five years, and China is expected to be the largest insurance market in the next decade or two.<sup class="reference" id="cite_ref-62"><a href="#cite_note-62">[61]</a></sup>
</p>
<h3><span class="mw-headline" id="Regulatory_differences">Regulatory differences</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=39" title="Edit section: Regulatory differences">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Insurance_law" title="Insurance law">Insurance law</a></div>
<p>In the United States, insurance is regulated by the states under the <a href="/wiki/McCarran%E2%80%93Ferguson_Act" title="McCarran–Ferguson Act">McCarran-Ferguson Act</a>, with "periodic proposals for federal intervention", and a nonprofit coalition of state insurance agencies called the <a href="/wiki/National_Association_of_Insurance_Commissioners" title="National Association of Insurance Commissioners">National Association of Insurance Commissioners</a> works to harmonize the country's different laws and regulations.<sup class="reference" id="cite_ref-63"><a href="#cite_note-63">[62]</a></sup> The National Conference of Insurance Legislators (NCOIL) also works to harmonize the different state laws.<sup class="reference" id="cite_ref-64"><a href="#cite_note-64">[63]</a></sup>
</p><p>In the <a href="/wiki/European_Union" title="European Union">European Union</a>, the Third Non-Life Directive and the Third Life Directive, both passed in 1992 and effective 1994, created a single insurance market in Europe and allowed insurance companies to offer insurance anywhere in the EU (subject to permission from authority in the head office) and allowed insurance consumers to purchase insurance from any insurer in the EU.<sup class="reference" id="cite_ref-65"><a href="#cite_note-65">[64]</a></sup> As far as <a href="/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom">insurance in the United Kingdom</a>, the <a href="/wiki/Financial_Services_Authority" title="Financial Services Authority">Financial Services Authority</a> took over insurance regulation from the General Insurance Standards Council in 2005;<sup class="reference" id="cite_ref-66"><a href="#cite_note-66">[65]</a></sup> laws passed include the Insurance Companies Act 1973 and another in 1982,<sup class="reference" id="cite_ref-67"><a href="#cite_note-67">[66]</a></sup> and reforms to <a href="/wiki/Warranty" title="Warranty">warranty</a> and other aspects under discussion as of 2012<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Insurance&amp;action=edit">[update]</a></sup>.<sup class="reference" id="cite_ref-68"><a href="#cite_note-68">[67]</a></sup>
</p><p>The <a href="/wiki/Insurance_industry_in_China" title="Insurance industry in China">insurance industry in China</a> was nationalized in 1949 and thereafter offered by only a single state-owned company, the <a href="/wiki/People%27s_Insurance_Company_of_China" title="People's Insurance Company of China">People's Insurance Company of China</a>, which was eventually suspended as demand declined in a communist environment. In 1978, market reforms led to an increase in the market and by 1995 a comprehensive Insurance Law of the People's Republic of China<sup class="reference" id="cite_ref-69"><a href="#cite_note-69">[68]</a></sup> was passed, followed in 1998 by the formation of <a href="/wiki/China_Insurance_Regulatory_Commission" title="China Insurance Regulatory Commission">China Insurance Regulatory Commission</a> (CIRC), which has broad regulatory authority over the insurance market of China.<sup class="reference" id="cite_ref-70"><a href="#cite_note-70">[69]</a></sup>
</p><p>In India IRDA is insurance regulatory authority. As per the section 4 of IRDA Act 1999, Insurance Regulatory and Development Authority (IRDA), which was constituted by an act of parliament. National Insurance Academy, Pune is apex insurance capacity builder institute promoted with support from Ministry of Finance and by LIC, Life &amp; General Insurance companies.
</p><p>In 2017, within the framework of the joint project of the <a href="/wiki/Central_Bank_of_Russia" title="Central Bank of Russia">Bank of Russia</a> and <a href="/wiki/Yandex" title="Yandex">Yandex</a>, a special <a href="/wiki/Check_mark" title="Check mark">check mark</a> (a green circle with a tick and 'Реестр ЦБ РФ' (Unified state register of insurance entities) text box) appeared in the search for Yandex system, informing the consumer that the company's financial services are offered on the marked website, which has the status of an insurance company, a broker or a mutual insurance association.<sup class="reference" id="cite_ref-71"><a href="#cite_note-71">[70]</a></sup>
</p>
<h2><span class="mw-headline" id="Controversies">Controversies</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=40" title="Edit section: Controversies">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<h3><span class="mw-headline" id="Does_not_reduce_the_risk">Does not reduce the risk</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=41" title="Edit section: Does not reduce the risk">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Insurance is just a risk transfer mechanism wherein the financial burden which may arise due to some fortuitous event is transferred to a bigger entity called an Insurance Company by way of paying premiums. This only reduces the financial burden and not the actual chances of happening of an event. Insurance is a risk for both the insurance company and the insured.  The insurance company understands the risk involved and will perform a <a href="/wiki/Risk_assessment" title="Risk assessment">risk assessment</a> when writing the policy.  
</p><p>As a result, the premiums may go up if they determine that the policyholder will file a claim. However, premiums might reduce if the policyholder commits to a risk management program as recommended by the insurer.<sup class="reference" id="cite_ref-72"><a href="#cite_note-72">[71]</a></sup> It's therefore important that insurers view risk management as a joint initiative between policyholder and insurer since a robust risk management plan minimizes the possibility of a large claim for the insurer while stabilizing or reducing premiums for the policyholder. 
</p><p>If a person is financially stable and plans for life's unexpected events, they may be able to go without insurance.  However, they must have enough to cover a total and complete loss of employment and of their possessions.  Some states will accept a surety bond, a government bond, or even making a cash deposit with the state.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (April 2017)">citation needed</span></a></i>]</sup>
</p>
<h3><span class="mw-headline" id="Moral_hazard">Moral hazard</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=42" title="Edit section: Moral hazard">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>An insurance company may inadvertently find that its insureds may not be as risk-averse as they might otherwise be (since, by definition, the insured has transferred the risk to the insurer), a concept known as <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a>. This 'insulates' many from the
true costs of living with risk, negating measures that can mitigate or adapt to risk and leading some to describe insurance schemes as potentially <a href="/wiki/Maladaptation" title="Maladaptation">maladaptive</a>.<sup class="reference" id="cite_ref-73"><a href="#cite_note-73">[72]</a></sup>
</p>
<h3><span class="mw-headline" id="Complexity_of_insurance_policy_contracts">Complexity of insurance policy contracts</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=43" title="Edit section: Complexity of insurance policy contracts">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a class="image" href="/wiki/File:UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg"><img alt="" class="thumbimage" data-file-height="925" data-file-width="1063" decoding="async" height="191" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8a/UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg/220px-UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8a/UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg/330px-UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8a/UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg/440px-UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg 2x" width="220"/></a> <div class="thumbcaption"><div class="magnify"><a class="internal" href="/wiki/File:UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg" title="Enlarge"></a></div><a class="mw-redirect" href="/wiki/9/11" title="9/11">9/11</a> was a major insurance loss, but there were disputes over the <a href="/wiki/World_Trade_Center_(1973%E2%80%932001)" title="World Trade Center (1973–2001)">World Trade Center</a>'s insurance policy</div></div></div>
<p>Insurance policies can be complex and some policyholders may not understand all the fees and coverages included in a policy. As a result, people may buy policies on unfavorable terms. In response to these issues, many countries have enacted detailed statutory and regulatory regimes governing every aspect of the insurance business, including minimum standards for policies and the ways in which they may be <a href="/wiki/Advertising" title="Advertising">advertised</a> and sold.
</p><p>For example, most insurance policies in the English language today have been carefully drafted in <a href="/wiki/Plain_English" title="Plain English">plain English</a>; the industry learned the hard way that many courts will not enforce policies against insureds when the judges themselves cannot understand what the policies are saying. Typically, courts construe ambiguities in insurance policies against the insurance company and in favor of coverage under the policy.
</p><p>Many institutional insurance purchasers buy insurance through an insurance broker. While on the surface it appears the broker represents the buyer (not the insurance company), and typically counsels the buyer on appropriate coverage and policy limitations, in the vast majority of cases a broker's compensation comes in the form of a commission as a percentage of the insurance premium, creating a conflict of interest in that the broker's financial interest is tilted towards encouraging an insured to purchase more insurance than might be necessary at a higher price. A broker generally holds contracts with many insurers, thereby allowing the broker to "shop" the <a href="/wiki/Market_(economics)" title="Market (economics)">market</a> for the best rates and coverage possible.
</p><p>Insurance may also be purchased through an agent. A tied agent, working exclusively with one insurer, represents the insurance company from whom the policyholder buys (while a free agent sells policies of various insurance companies). Just as there is a potential conflict of interest with a broker, an agent has a different type of conflict. Because agents work directly for the insurance company, if there is a claim the agent may advise the client to the benefit of the insurance company. Agents generally cannot offer as broad a range of selection compared to an insurance broker.
</p><p>An independent insurance consultant advises insureds on a fee-for-service retainer, similar to an attorney, and thus offers completely independent advice, free of the financial conflict of interest of brokers or agents. However, such a consultant must still work through brokers or agents in order to secure coverage for their clients.
</p>
<h3><span class="mw-headline" id="Limited_consumer_benefits">Limited consumer benefits</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=44" title="Edit section: Limited consumer benefits">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>In the United States, economists and consumer advocates generally consider insurance to be worthwhile for low-probability, catastrophic losses, but not for high-probability, small losses. Because of this, consumers are advised to select high <a href="/wiki/Deductible" title="Deductible">deductibles</a> and to not insure losses which would not cause a disruption in their life. However, consumers have shown a tendency to prefer low deductibles and to prefer to insure relatively high-probability, small losses over low-probability, perhaps due to not understanding or ignoring the low-probability risk. This is associated with reduced purchasing of insurance against low-probability losses, and may result in increased inefficiencies from <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a>.<sup class="reference" id="cite_ref-Schindler1994_74-0"><a href="#cite_note-Schindler1994-74">[73]</a></sup>
</p>
<h3><span class="mw-headline" id="Redlining">Redlining</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=45" title="Edit section: Redlining">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Main article: <a href="/wiki/Redlining" title="Redlining">Redlining</a></div>
<p><a href="/wiki/Redlining" title="Redlining">Redlining</a> is the practice of denying insurance coverage in specific geographic areas, supposedly because of a high likelihood of loss, while the alleged motivation is unlawful discrimination. <a href="/wiki/Racial_profiling" title="Racial profiling">Racial profiling</a> or <a href="/wiki/Redlining" title="Redlining">redlining</a> has a long history in the property insurance industry in the United States. From a review of industry underwriting and marketing materials, court documents, and research by government agencies, industry and community groups, and academics, it is clear that race has long affected and continues to affect the policies and practices of the insurance industry.<sup class="reference" id="cite_ref-75"><a href="#cite_note-75">[74]</a></sup>
</p><p>In July 2007, the US <a href="/wiki/Federal_Trade_Commission" title="Federal Trade Commission">Federal Trade Commission</a> (FTC) released a report presenting the results of a study concerning credit-based <a href="/wiki/Insurance_score" title="Insurance score">insurance scores</a> in automobile insurance. The study found that these scores are effective predictors of risk. It also showed that African-Americans and Hispanics are substantially overrepresented in the lowest credit scores, and substantially underrepresented in the highest, while Caucasians and Asians are more evenly spread across the scores. The credit scores were also found to predict risk within each of the ethnic groups, leading the FTC to conclude that the scoring models are not solely proxies for redlining. The FTC indicated little data was available to evaluate benefit of insurance scores to consumers.<sup class="reference" id="cite_ref-FTC_Study_76-0"><a href="#cite_note-FTC_Study-76">[75]</a></sup> The report was disputed by representatives of the <a href="/wiki/Consumer_Federation_of_America" title="Consumer Federation of America">Consumer Federation of America</a>, the National Fair Housing Alliance, the <a href="/wiki/National_Consumer_Law_Center" title="National Consumer Law Center">National Consumer Law Center</a>, and the Center for Economic Justice, for relying on data provided by the insurance industry.<sup class="reference" id="cite_ref-77"><a href="#cite_note-77">[76]</a></sup>
</p><p>All states have provisions in their rate regulation laws or in their fair trade practice acts that prohibit unfair discrimination, often called redlining, in setting rates and making insurance available.<sup class="reference" id="cite_ref-78"><a href="#cite_note-78">[77]</a></sup>
</p><p>In determining premiums and premium rate structures, insurers consider quantifiable factors, including location, <a href="/wiki/Credit_score" title="Credit score">credit scores</a>, <a href="/wiki/Gender" title="Gender">gender</a>, <a href="/wiki/Profession" title="Profession">occupation</a>, <a href="/wiki/Marital_status" title="Marital status">marital status</a>, and <a href="/wiki/Education" title="Education">education</a> level. However, the use of such factors is often considered to be unfair or unlawfully <a href="/wiki/Discrimination" title="Discrimination">discriminatory</a>, and the reaction against this practice has in some instances led to political disputes about the ways in which insurers determine premiums and regulatory intervention to limit the factors used.
</p><p>An insurance underwriter's job is to evaluate a given risk as to the likelihood that a loss will occur. Any factor that causes a greater likelihood of loss should theoretically be charged a higher rate. This basic principle of insurance must be followed if insurance companies are to remain solvent.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (February 2009)">citation needed</span></a></i>]</sup> Thus, "discrimination" against (i.e., negative differential treatment of) potential insureds in the risk evaluation and premium-setting process is a necessary by-product of the fundamentals of insurance underwriting.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2019)">citation needed</span></a></i>]</sup> For instance, insurers charge older people significantly higher premiums than they charge younger people for term life insurance. Older people are thus treated differently from younger people (i.e., a distinction is made, discrimination occurs). The rationale for the differential treatment goes to the heart of the risk a life insurer takes: older people are likely to die sooner than young people, so the risk of loss (the insured's death) is greater in any given period of time and therefore the <a href="/wiki/Risk_premium" title="Risk premium">risk premium</a> must be higher to cover the greater risk.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2019)">citation needed</span></a></i>]</sup> However, treating insureds differently when there is no actuarially sound reason for doing so is unlawful discrimination.
</p>
<h3><span class="mw-headline" id="Insurance_patents">Insurance patents</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=46" title="Edit section: Insurance patents">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<table class="box-Update plainlinks metadata ambox ambox-content ambox-Update" role="presentation"><tbody><tr><td class="mbox-image"><div style="width:52px"><img alt="Ambox current red Americas.svg" data-file-height="290" data-file-width="360" decoding="async" height="34" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/42px-Ambox_current_red_Americas.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/63px-Ambox_current_red_Americas.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/84px-Ambox_current_red_Americas.svg.png 2x" width="42"/></div></td><td class="mbox-text"><div class="mbox-text-span">This article needs to be <b>updated</b>.<span class="hide-when-compact"> Please help update this article to reflect recent events or newly available information.</span> <span class="date-container"><i>(<span class="date">January 2018</span>)</i></span></div></td></tr></tbody></table>
<link href="mw-data:TemplateStyles:r1033289096" rel="mw-deduplicated-inline-style"/><div class="hatnote navigation-not-searchable" role="note">Further information: <a href="/wiki/Insurance_patent" title="Insurance patent">Insurance patent</a></div>
<p>New assurance products can now be protected from copying with a <a href="/wiki/Business_method_patent" title="Business method patent">business method patent</a> in the <a href="/wiki/United_States" title="United States">United States</a>.
</p><p>A recent example of a new insurance product that is patented is <a href="/wiki/Usage-based_insurance" title="Usage-based insurance">Usage Based</a> <a href="/wiki/Vehicle_insurance" title="Vehicle insurance">auto insurance</a>. Early versions were independently invented and patented by a major US auto insurance company, <a href="/wiki/Progressive_Corporation" title="Progressive Corporation">Progressive Auto Insurance</a> (<span><a class="external text" href="https://patents.google.com/patent/US5797134" rel="nofollow">U.S. Patent 5,797,134</a></span>) and a Spanish independent inventor, Salvador Minguijon Perez (<style data-mw-deduplicate="TemplateStyles:r1041539562">.mw-parser-output .citation{word-wrap:break-word}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}</style><span class="citation patent"><a class="external text" href="https://worldwide.espacenet.com/textdoc?DB=EPODOC&amp;IDX=EP0700009" rel="nofollow">EP 0700009</a></span><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Apatent&amp;rft.number=0700009&amp;rft.cc=EP&amp;rft.title="><span style="display: none;"> </span></span>).
</p><p>Many independent inventors are in favor of patenting new insurance products since it gives them protection from big companies when they bring their new insurance products to market. Independent inventors account for 70% of the new U.S. patent applications in this area.
</p><p>Many insurance executives are opposed to patenting insurance products because it creates a new risk for them. <a href="/wiki/The_Hartford" title="The Hartford">The Hartford</a> insurance company, for example, recently had to pay $80 million to an independent inventor, Bancorp Services, in order to settle a patent infringement and theft of trade secret lawsuit for a type of corporate owned life insurance product invented and patented by Bancorp.
</p><p>There are currently about 150 new patent applications on insurance inventions filed per year in the United States. The rate at which patents have been issued has steadily risen from 15 in 2002 to 44 in 2006.<sup class="reference" id="cite_ref-79"><a href="#cite_note-79">[78]</a></sup>
</p><p>The first insurance patent to be granted was<sup class="reference" id="cite_ref-80"><a href="#cite_note-80">[79]</a></sup> including another example of an application posted was <a class="external text" href="https://web.archive.org/web/20090510094423/http://www.peertopatent.org/patent/20090055227/activity" rel="nofollow">US2009005522 "risk assessment company"</a>. It was posted on 6 March 2009. This patent application describes a method for increasing the ease of changing insurance companies.<sup class="reference" id="cite_ref-81"><a href="#cite_note-81">[80]</a></sup>
</p>
<h3><span class="mw-headline" id="Insurance_on_demand">Insurance on demand</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=47" title="Edit section: Insurance on demand">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Insurance on demand (also IoD) is an insurance service that provides clients with insurance protection when they need, i.e. only episodic rather than on <a href="/wiki/24/7_service" title="24/7 service">24/7</a> basis as typically provided by traditional insurers (e.g. clients can purchase an insurance for one single flight rather than a longer-lasting travel insurance plan).
</p>
<h3><span class="mw-headline" id="Insurance_industry_and_rent-seeking">Insurance industry and rent-seeking</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=48" title="Edit section: Insurance industry and rent-seeking">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Certain insurance products and practices have been described as <a href="/wiki/Rent-seeking" title="Rent-seeking">rent-seeking</a> by critics.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2008)">citation needed</span></a></i>]</sup> That is, some insurance products or practices are useful primarily because of legal benefits, such as reducing taxes, as opposed to providing protection against risks of adverse events. Under <a class="mw-redirect" href="/wiki/United_States_tax_law" title="United States tax law">United States tax law</a>, for example, most owners of <a class="mw-redirect" href="/wiki/Annuity_(US_financial_products)" title="Annuity (US financial products)">variable annuities</a> and <a href="/wiki/Variable_universal_life_insurance" title="Variable universal life insurance">variable life insurance</a> can invest their premium payments in the <a href="/wiki/Stock_market" title="Stock market">stock market</a> and defer or eliminate paying any taxes on their investments until withdrawals are made. Sometimes this tax deferral is the only reason people use these products.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2008)">citation needed</span></a></i>]</sup> Another example is the legal infrastructure which allows life insurance to be held in an irrevocable trust which is used to pay an <a href="/wiki/Inheritance_tax" title="Inheritance tax">estate tax</a> while the proceeds themselves are immune from the estate tax.
</p>
<h3><span class="mw-headline" id="Religious_concerns">Religious concerns</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=49" title="Edit section: Religious concerns">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<p>Muslim scholars have varying opinions about life insurance. Life insurance policies that earn interest (or guaranteed bonus/NAV) are generally considered to be a form of <i><a href="/wiki/Riba" title="Riba">riba</a></i><sup class="reference" id="cite_ref-82"><a href="#cite_note-82">[81]</a></sup> (<a href="/wiki/Usury" title="Usury">usury</a>) and some consider even policies that do not earn interest to be a form of <i>gharar</i> (<a href="/wiki/Speculation" title="Speculation">speculation</a>). Some argue that <i>gharar</i> is not present due to the actuarial science behind the underwriting.<sup class="reference" id="cite_ref-83"><a href="#cite_note-83">[82]</a></sup>
Jewish rabbinical scholars also have expressed reservations regarding insurance as an avoidance of God's will but most find it acceptable in moderation.<sup class="reference" id="cite_ref-84"><a href="#cite_note-84">[83]</a></sup>
</p><p>Some Christians believe insurance represents a lack of faith<sup class="reference" id="cite_ref-85"><a href="#cite_note-85">[84]</a></sup><sup class="reference" id="cite_ref-86"><a href="#cite_note-86">[85]</a></sup> and there is a long history of resistance to commercial insurance in <a class="mw-redirect" href="/wiki/Anabaptist" title="Anabaptist">Anabaptist</a> communities (<a href="/wiki/Mennonites" title="Mennonites">Mennonites</a>, <a href="/wiki/Amish" title="Amish">Amish</a>, <a href="/wiki/Hutterites" title="Hutterites">Hutterites</a>, <a class="mw-redirect" href="/wiki/Brethren_in_Christ" title="Brethren in Christ">Brethren in Christ</a>) but many participate in community-based self-insurance programs that spread risk within their communities.<sup class="reference" id="cite_ref-87"><a href="#cite_note-87">[86]</a></sup><sup class="reference" id="cite_ref-88"><a href="#cite_note-88">[87]</a></sup><sup class="reference" id="cite_ref-89"><a href="#cite_note-89">[88]</a></sup>
</p>
<h2><span class="mw-headline" id="See_also">See also</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=50" title="Edit section: See also">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<style data-mw-deduplicate="TemplateStyles:r998391716">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 20em;">
<ul><li><a href="/wiki/Agent_of_record" title="Agent of record">Agent of Record</a></li>
<li><a href="/wiki/DIRTI_5" title="DIRTI 5">DIRTI 5</a></li>
<li><a href="/wiki/Earthquake_insurance" title="Earthquake insurance">Earthquake loss</a></li>
<li><a href="/wiki/Financial_adviser" title="Financial adviser">Financial adviser</a></li>
<li><a href="/wiki/Financial_services" title="Financial services">Financial services</a> (broader industry to which insurance belongs)</li>
<li><a class="mw-redirect" href="/wiki/Geneva_Association" title="Geneva Association">Geneva Association</a> (the International Association for the Study of Insurance Economics)</li>
<li><a href="/wiki/Global_assets_under_management" title="Global assets under management">Global assets under management</a></li>
<li><a href="/wiki/Insurance_broker" title="Insurance broker">Insurance broker</a></li>
<li><a href="/wiki/Insurance_fraud" title="Insurance fraud">Insurance fraud</a></li>
<li><a href="/wiki/Insurance_Hall_of_Fame" title="Insurance Hall of Fame">Insurance Hall of Fame</a></li>
<li><a href="/wiki/Insurance_law" title="Insurance law">Insurance law</a></li>
<li><a class="mw-redirect" href="/wiki/Insurance_Premium_Tax_(UK)" title="Insurance Premium Tax (UK)">Insurance Premium Tax (UK)</a></li>
<li><a class="mw-redirect" href="/wiki/List_of_Acts_of_Parliament_of_the_United_Kingdom_Parliament,_1960-1979#Public_Acts_19" title="List of Acts of Parliament of the United Kingdom Parliament, 1960-1979">List of Acts of Parliament of the United Kingdom Parliament, 1960-1979</a></li>
<li><a href="/wiki/Loss-control_consultant" title="Loss-control consultant">Loss-control consultant</a></li>
<li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a></li>
<li><a href="/wiki/Risk_pool" title="Risk pool">Intergovernmental Risk Pool</a></li>
<li><i><a class="mw-redirect" href="/wiki/The_Invisible_Bankers:_Everything_the_Insurance_Industry_Never_Wanted_You_to_Know" title="The Invisible Bankers: Everything the Insurance Industry Never Wanted You to Know">The Invisible Bankers: Everything the Insurance Industry Never Wanted You to Know</a></i> (book)</li>
<li><a href="/wiki/Outline_of_finance" title="Outline of finance">List of finance topics</a></li>
<li><a href="/wiki/Outline_of_finance#Insurance" title="Outline of finance">List of insurance topics</a></li>
<li><a href="/wiki/List_of_United_States_insurance_companies" title="List of United States insurance companies">List of United States insurance companies</a></li>
<li><a class="mw-redirect" href="/wiki/Social_security" title="Social security">Social security</a></li>
<li><i><a href="/wiki/Uberrima_fides" title="Uberrima fides">Uberrima fides</a></i></li>
<li><a href="/wiki/Universal_health_care" title="Universal health care">Universal health care</a></li>
<li><a href="/wiki/Welfare_state" title="Welfare state">Welfare state</a></li></ul>
</div>
<p>Country-specific articles:
</p>
<dl><dd><ul><li><a href="/wiki/Insurance_in_Australia" title="Insurance in Australia">Insurance in Australia</a></li>
<li><a href="/wiki/Insurance_in_India" title="Insurance in India">Insurance in India</a></li>
<li><a href="/wiki/Insurance_in_the_United_States" title="Insurance in the United States">Insurance in the United States</a></li>
<li><a href="/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom">Insurance in the United Kingdom</a></li>
<li><a href="/wiki/Insurance_industry_in_China" title="Insurance industry in China">Insurance industry in China</a></li></ul></dd></dl>
<h2><span class="mw-headline" id="Notes">Notes</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=51" title="Edit section: Notes">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
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<div class="mw-references-wrap"><ol class="references">
<li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text">However, the bankruptcy of the insured with a "reimbursement" policy does not relieve the insurer.  Certain types of insurance, e.g., workers' compensation and personal automobile liability, are subject to statutory requirements that injured parties have direct access to coverage.</span>
</li>
</ol></div></div>
<h2><span class="mw-headline" id="References">References</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=52" title="Edit section: References">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<h3><span class="mw-headline" id="Citations">Citations</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=53" title="Edit section: Citations">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<link href="mw-data:TemplateStyles:r1011085734" rel="mw-deduplicated-inline-style"/><div class="reflist">
<div class="mw-references-wrap mw-references-columns"><ol class="references">
<li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r999302996">.mw-parser-output cite.citation{font-style:inherit}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-ws-icon a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-maint{display:none;color:#33aa33;margin-left:0.3em}.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}</style><cite class="citation book cs1" id="CITEREFNovi_Dewan">Novi Dewan. <i>Indian Life and Health Insurance Industry: A Marketing Approach</i>. Springer Science &amp; Business Media. p. 2.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Indian+Life+and+Health+Insurance+Industry%3A+A+Marketing+Approach&amp;rft.pages=2&amp;rft.pub=Springer+Science+%26+Business+Media&amp;rft.au=Novi+Dewan&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text">See, e.g., Vaughan, E. J., 1997, <i>Risk Management</i>, New York: Wiley.</span>
</li>
<li id="cite_note-Sommer_1903_p._86-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-Sommer_1903_p._86_3-0">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation journal cs1" id="CITEREFHammurabi1903"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1903). Translated by Sommer, Otto. <a class="external text" href="https://archive.org/details/cu31924060109703/mode/2up" rel="nofollow">"Code of Hammurabi, King of Babylon"</a>. <i>Records of the Past</i>. <a href="/wiki/Washington,_D.C." title="Washington, D.C.">Washington, DC</a>: <a href="/wiki/Records_of_the_Past_Exploration_Society" title="Records of the Past Exploration Society">Records of the Past Exploration Society</a>. <b>2</b> (3): <a class="external text" href="https://archive.org/details/cu31924060109703/page/n27/mode/2up" rel="nofollow">86</a><span class="reference-accessdate">. Retrieved <span class="nowrap">20 June</span> 2021</span>. <q>238. If a skipper wrecks ... money to its owner.</q></cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Records+of+the+Past&amp;rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&amp;rft.volume=2&amp;rft.issue=3&amp;rft.pages=86&amp;rft.date=1903&amp;rft.au=Hammurabi&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924060109703%2Fmode%2F2up&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-Harper_1904_p._85-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-Harper_1904_p._85_4-0">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1" id="CITEREFHammurabi1904"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1904). <a class="external text" href="https://oll-resources.s3.us-east-2.amazonaws.com/oll3/store/titles/1276/0762_Bk.pdf" rel="nofollow">"Code of Hammurabi, King of Babylon"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Liberty_Fund" title="Liberty Fund">Liberty Fund</a></i>. Translated by Harper, Robert Francis (2nd ed.). <a href="/wiki/Chicago" title="Chicago">Chicago</a>: <a href="/wiki/University_of_Chicago_Press" title="University of Chicago Press">University of Chicago Press</a>. p. <a class="external text" href="https://oll.libertyfund.org/title/hammurabi-the-code-of-hammurabi#lf0762_label_461" rel="nofollow">85</a><span class="reference-accessdate">. Retrieved <span class="nowrap">20 June</span> 2021</span>. <q>§238. If a boatman sink ... one-half its value.</q></cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Liberty+Fund&amp;rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&amp;rft.pages=85&amp;rft.date=1904&amp;rft.au=Hammurabi&amp;rft_id=https%3A%2F%2Foll-resources.s3.us-east-2.amazonaws.com%2Foll3%2Fstore%2Ftitles%2F1276%2F0762_Bk.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-King_1910-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-King_1910_5-0">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1" id="CITEREFHammurabi1910"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1910). <a class="external text" href="https://avalon.law.yale.edu/ancient/hamframe.asp" rel="nofollow">"Code of Hammurabi, King of Babylon"</a>. <i><a href="/wiki/Avalon_Project" title="Avalon Project">Avalon Project</a></i>. Translated by King, Leonard William. <a href="/wiki/New_Haven,_Connecticut" title="New Haven, Connecticut">New Haven, CT</a>: <a href="/wiki/Yale_Law_School" title="Yale Law School">Yale Law School</a><span class="reference-accessdate">. Retrieved <span class="nowrap">20 June</span> 2021</span>. <q>238. If a sailor wreck ... its value in money.</q></cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Avalon+Project&amp;rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&amp;rft.date=1910&amp;rft.au=Hammurabi&amp;rft_id=https%3A%2F%2Favalon.law.yale.edu%2Fancient%2Fhamframe.asp&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="https://constitution.org/2-Authors/sps/sps01_4-2.htm" rel="nofollow">"The Civil Law, Volume I, The Opinions of Julius Paulus, Book II"</a>. <i><a href="/wiki/Constitution_Society" title="Constitution Society">Constitution.org</a></i>. Translated by Scott, S.P. Central Trust Company. 1932<span class="reference-accessdate">. Retrieved <span class="nowrap">16 June</span> 2021</span>. <q>TITLE VII. ON THE LEX RHODIA. It is provided by the <i>Lex Rhodia</i> that if merchandise is thrown overboard for the purpose of lightening a ship, the loss is made good by the assessment of all which is made for the benefit of all.</q></cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Constitution.org&amp;rft.atitle=The+Civil+Law%2C+Volume+I%2C+The+Opinions+of+Julius+Paulus%2C+Book+II&amp;rft.date=1932&amp;rft_id=https%3A%2F%2Fconstitution.org%2F2-Authors%2Fsps%2Fsps01_4-2.htm&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-Prudential_pp._5–6-7"><span class="mw-cite-backlink">^ <a href="#cite_ref-Prudential_pp._5–6_7-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Prudential_pp._5–6_7-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Prudential_pp._5–6_7-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1"><a class="external text" href="https://archive.org/details/cu31924030231736/mode/2up" rel="nofollow"><i>The Documentary History of Insurance, 1000 B.C.–1875 A.D.</i></a> <a href="/wiki/Newark,_New_Jersey" title="Newark, New Jersey">Newark, NJ</a>: <a href="/wiki/Prudential_Financial" title="Prudential Financial">Prudential Press</a>. 1915. pp. <a class="external text" href="https://archive.org/details/cu31924030231736/page/n7/mode/2up" rel="nofollow">5–6</a><span class="reference-accessdate">. Retrieved <span class="nowrap">15 June</span> 2021</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Documentary+History+of+Insurance%2C+1000+B.C.%E2%80%931875+A.D.&amp;rft.place=Newark%2C+NJ&amp;rft.pages=5-6&amp;rft.pub=Prudential+Press&amp;rft.date=1915&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924030231736%2Fmode%2F2up&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-Duhaime-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-Duhaime_8-0">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="http://www.duhaime.org/LawMuseum/LawArticle-383/Lex-Rhodia-The-Ancient-Ancestor-of-Maritime-Law-800--BC.aspx" rel="nofollow">"Duhaime's Timetable of World Legal History"</a>. <i>Duhaime's Law Dictionary</i><span class="reference-accessdate">. Retrieved <span class="nowrap">9 April</span> 2016</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Duhaime%27s+Law+Dictionary&amp;rft.atitle=Duhaime%27s+Timetable+of+World+Legal+History&amp;rft_id=http%3A%2F%2Fwww.duhaime.org%2FLawMuseum%2FLawArticle-383%2FLex-Rhodia-The-Ancient-Ancestor-of-Maritime-Law-800--BC.aspx&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1"><a class="external text" href="https://archive.org/details/cu31924030231736/mode/2up" rel="nofollow"><i>The Documentary History of Insurance, 1000 B.C.–1875 A.D.</i></a> <a href="/wiki/Newark,_New_Jersey" title="Newark, New Jersey">Newark, NJ</a>: <a href="/wiki/Prudential_Financial" title="Prudential Financial">Prudential Press</a>. 1915. pp. <a class="external text" href="https://archive.org/details/cu31924030231736/page/n9/mode/2up" rel="nofollow">6–7</a><span class="reference-accessdate">. Retrieved <span class="nowrap">15 June</span> 2021</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Documentary+History+of+Insurance%2C+1000+B.C.%E2%80%931875+A.D.&amp;rft.place=Newark%2C+NJ&amp;rft.pages=6-7&amp;rft.pub=Prudential+Press&amp;rft.date=1915&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924030231736%2Fmode%2F2up&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFTapas_Kumar_Parida,_Debashis_Acharya2016">Tapas Kumar Parida, Debashis Acharya (2016). <i>The Life Insurance Industry in India: Current State and Efficiency</i>. Springer. p. 2. <a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9789811022333" title="Special:BookSources/9789811022333"><bdi>9789811022333</bdi></a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Life+Insurance+Industry+in+India%3A+Current+State+and+Efficiency&amp;rft.pages=2&amp;rft.pub=Springer&amp;rft.date=2016&amp;rft.isbn=9789811022333&amp;rft.au=Tapas+Kumar+Parida%2C+Debashis+Acharya&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-EB1911-11"><span class="mw-cite-backlink">^ <a href="#cite_ref-EB1911_11-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-EB1911_11-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-EB1911_11-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation encyclopaedia cs1" id="CITEREFLewisIngram1911">Lewis, Charlton; Ingram, Thomas (1911). <span class="cs1-ws-icon" title="s:1911 Encyclopædia Britannica/Insurance"><a class="external text" href="https://en.wikisource.org/wiki/1911_Encyclop%C3%A6dia_Britannica/Insurance">"Insurance" </a></span>.  In Chisholm, Hugh (ed.). <i><a href="/wiki/Encyclop%C3%A6dia_Britannica_Eleventh_Edition" title="Encyclopædia Britannica Eleventh Edition">Encyclopædia Britannica</a></i>. <b>14</b> (11th ed.). Cambridge University Press. pp. 657–658.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=bookitem&amp;rft.atitle=Insurance&amp;rft.btitle=Encyclop%C3%A6dia+Britannica&amp;rft.pages=657-658&amp;rft.edition=11th&amp;rft.pub=Cambridge+University+Press&amp;rft.date=1911&amp;rft.aulast=Lewis&amp;rft.aufirst=Charlton&amp;rft.au=Ingram%2C+Thomas&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text">J. Franklin, <i>The Science of Conjecture: Evidence and Probability Before Pascal</i> (Baltimore: Johns Hopkins University Press, 2001), 274-277.</span>
</li>
<li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text">Dickson (1960): 4</span>
</li>
<li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text">Dickson (1960): 7</span>
</li>
<li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation encyclopaedia cs1" id="CITEREFPalmer2007">Palmer, Sarah (October 2007). <a class="external text" href="https://web.archive.org/web/20110715030319/http://press.oxforddnb.com/index/16/101016829/" rel="nofollow">"Lloyd, Edward (<i>c</i>.1648–1713)"</a>. <i><a href="/wiki/Dictionary_of_National_Biography#Oxford_Dictionary_of_National_Biography" title="Dictionary of National Biography">Oxford Dictionary of National Biography</a></i>. <b>1</b> (online ed.). Oxford University Press. <a class="mw-redirect" href="/wiki/Doi_(identifier)" title="Doi (identifier)">doi</a>:<a class="external text" href="https://doi.org/10.1093%2Fref%3Aodnb%2F16829" rel="nofollow">10.1093/ref:odnb/16829</a>. Archived from <a class="external text" href="http://press.oxforddnb.com/index/16/101016829" rel="nofollow">the original</a> on 15 July 2011<span class="reference-accessdate">. Retrieved <span class="nowrap">16 February</span> 2011</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=bookitem&amp;rft.atitle=Lloyd%2C+Edward+%28c.1648%E2%80%931713%29&amp;rft.btitle=Oxford+Dictionary+of+National+Biography&amp;rft.edition=online&amp;rft.pub=Oxford+University+Press&amp;rft.date=2007-10&amp;rft_id=info%3Adoi%2F10.1093%2Fref%3Aodnb%2F16829&amp;rft.aulast=Palmer&amp;rft.aufirst=Sarah&amp;rft_id=http%3A%2F%2Fpress.oxforddnb.com%2Findex%2F16%2F101016829&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span> <span style="font-size:0.95em; font-size:90%; color:#555">(Subscription or <a class="external text" href="https://www.oxforddnb.com/help/subscribe#public" rel="nofollow">UK public library membership</a> required.)</span></span>
</li>
<li id="cite_note-Anzovin121-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-Anzovin121_16-0">^</a></b></span> <span class="reference-text">Anzovin, Steven, <i>Famous First Facts</i> 2000, item # 2422, H. W. Wilson Company, <link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-8242-0958-3" title="Special:BookSources/0-8242-0958-3">0-8242-0958-3</a> p. 121 <i>The first life insurance company known of record was founded in 1706 by the Bishop of Oxford and the financier Thomas Allen in London, England. The company, called the Amicable Society for a Perpetual Assurance Office, collected annual premiums from policyholders and paid the nominees of deceased members from a common fund.</i></span>
</li>
<li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text">Amicable Society, <i>The charters, acts of Parliament, and by-laws of the corporation of the Amicable Society for a perpetual assurance office</i>, Gilbert and Rivington, 1854, p. 4</span>
</li>
<li id="cite_note-eq-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-eq_18-0">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="http://www.equitable.co.uk/about-us/history-and-facts/" rel="nofollow">"Today and History:The History of Equitable Life"</a>. 26 June 2009<span class="reference-accessdate">. Retrieved <span class="nowrap">16 August</span> 2009</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Today+and+History%3AThe+History+of+Equitable+Life&amp;rft.date=2009-06-26&amp;rft_id=http%3A%2F%2Fwww.equitable.co.uk%2Fabout-us%2Fhistory-and-facts%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="https://web.archive.org/web/20090717201207/http://ca.encarta.msn.com/encyclopedia_761576408_8/Health_Insurance.html" rel="nofollow">"Encarta: Health Insurance"</a>. Archived from <a class="external text" href="https://ca.encarta.msn.com/encyclopedia_761576408_8/Health_Insurance.html#s49" rel="nofollow">the original</a> on 17 July 2009.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Encarta%3A+Health+Insurance&amp;rft_id=http%3A%2F%2Fca.encarta.msn.com%2Fencyclopedia_761576408_8%2FHealth_Insurance.html%23s49&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-EPH-20"><span class="mw-cite-backlink">^ <a href="#cite_ref-EPH_20-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-EPH_20-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">E. P. Hennock, <i>The Origin of the Welfare State in England and Germany, 1850–1914: Social Policies Compared</i> (2007)</span>
</li>
<li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text">Hermann Beck, <i>Origins of the Authoritarian Welfare State in Prussia, 1815-1870</i> (1995)</span>
</li>
<li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.nationalarchives.gov.uk/cabinetpapers/themes/national-health-insurance.htm" rel="nofollow">The Cabinet Papers 1915-1982: National Health Insurance Act 1911.</a> The National Archives, 2013. Retrieved 30 June 2013.</span>
</li>
<li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text">Bentley B. Gilbert, <i>British social policy, 1914-1939</i> (1970)</span>
</li>
<li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text">Gollier C. (2003). <a class="external text" href="https://www.jstor.org/stable/41953424?seq=1#page_scan_tab_contents" rel="nofollow">To Insure or Not to Insure?: An Insurance Puzzle</a>. <i>The Geneva Papers on Risk and Insurance Theory</i>.</span>
</li>
<li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text">This discussion is adapted from Mehr and Camack "Principles of Insurance", 6th edition, 1976, pp 34 – 37.</span>
</li>
<li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text">Irish Brokers Association. <a class="external text" href="https://www.iba.ie/development2009/index.php?option=com_content&amp;view=article&amp;id=76&amp;Itemid=167" rel="nofollow">Insurance Principles</a> <a class="external text" href="https://web.archive.org/web/20090411184958/http://www.iba.ie/development2009/index.php?option=com_content&amp;view=article&amp;id=76&amp;Itemid=167" rel="nofollow">Archived</a> 11 April 2009 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>.</span>
</li>
<li id="cite_note-KulpHall-27"><span class="mw-cite-backlink">^ <a href="#cite_ref-KulpHall_27-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-KulpHall_27-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">C. Kulp &amp; J. Hall, Casualty Insurance, Fourth Edition, 1968, page 35</span>
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<li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation news cs1" id="CITEREFMenapace2019">Menapace, Michael (10 March 2019). <a class="external text" href="https://www.natlawreview.com/article/property-insurance-cyber-insurance-coverage-and-war-losses-malware-may-not-be-0" rel="nofollow">"Losses From Malware May Not Be Covered Due To Your Policy's Hostile Acts Exclusion"</a>. <i>The National Law Review</i><span class="reference-accessdate">. Retrieved <span class="nowrap">25 April</span> 2019</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=The+National+Law+Review&amp;rft.atitle=Losses+From+Malware+May+Not+Be+Covered+Due+To+Your+Policy%27s+Hostile+Acts+Exclusion&amp;rft.date=2019-03-10&amp;rft.aulast=Menapace&amp;rft.aufirst=Michael&amp;rft_id=https%3A%2F%2Fwww.natlawreview.com%2Farticle%2Fproperty-insurance-cyber-insurance-coverage-and-war-losses-malware-may-not-be-0&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation news cs1" id="CITEREFStock2019">Stock, Rob (19 March 2019). <a class="external text" href="https://www.stuff.co.nz/national/christchurch-shooting/111397687/insurers-waive-terrorism-exclusions-for-christchurch-shooting-victims" rel="nofollow">"Insurers waive terrorism exclusions for Christchurch shooting victims"</a>. <i>Stuff</i><span class="reference-accessdate">. Retrieved <span class="nowrap">25 April</span> 2019</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Stuff&amp;rft.atitle=Insurers+waive+terrorism+exclusions+for+Christchurch+shooting+victims&amp;rft.date=2019-03-19&amp;rft.aulast=Stock&amp;rft.aufirst=Rob&amp;rft_id=https%3A%2F%2Fwww.stuff.co.nz%2Fnational%2Fchristchurch-shooting%2F111397687%2Finsurers-waive-terrorism-exclusions-for-christchurch-shooting-victims&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text">California State PTA (2019), <a class="external text" href="http://downloads.capta.org/Leaders/Insurance/CAPTA_Insurance_Guide_2019_FINAL.pdf" rel="nofollow">Insurance Guide</a>, revised April 2019, accessed 19 December 2020</span>
</li>
<li id="cite_note-ZweifelEisen2012-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-ZweifelEisen2012_32-0">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFPeter_ZweifelRoland_Eisen2012">Peter Zweifel; Roland Eisen (24 February 2012). <a class="external text" href="https://books.google.com/books?id=D_8qzz5soE8C&amp;pg=PA268" rel="nofollow"><i>Insurance Economics</i></a>. Springer Science &amp; Business Media. pp. 268–. <a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3-642-20547-7" title="Special:BookSources/978-3-642-20547-7"><bdi>978-3-642-20547-7</bdi></a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Insurance+Economics&amp;rft.pages=268-&amp;rft.pub=Springer+Science+%26+Business+Media&amp;rft.date=2012-02-24&amp;rft.isbn=978-3-642-20547-7&amp;rft.au=Peter+Zweifel&amp;rft.au=Roland+Eisen&amp;rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DD_8qzz5soE8C%26pg%3DPA268&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><a href="/wiki/Howard_Kunreuther" title="Howard Kunreuther">Kunreuther H.</a> (1996). <a class="external text" href="http://opim.wharton.upenn.edu/risk/downloads/archive/arch167.pdf" rel="nofollow">Mitigating Disaster Losses Through Insurance</a>. <i>Journal of Risk and Uncertainty</i>.</span>
</li>
<li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text">Brown RL. (1993). <a class="external text" href="https://books.google.com/books?id=1j4O50JENE4C" rel="nofollow">Introduction to Ratemaking and Loss Reserving for Property and Casualty Insurance</a>. ACTEX Publications.</span>
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<li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFFeldsteinFabozzi2008">Feldstein, Sylvan G.; Fabozzi, Frank J. (2008). <a class="external text" href="https://books.google.com/books?id=Juc4fb1Fx1cC&amp;pg=PA614" rel="nofollow"><i>The Handbook of Municipal Bonds</i></a>. <a class="mw-redirect" href="/wiki/John_Wiley_%26_Sons" title="John Wiley &amp; Sons">Wiley</a>. p. 614. <a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-470-10875-8" title="Special:BookSources/978-0-470-10875-8"><bdi>978-0-470-10875-8</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">8 February</span> 2010</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Handbook+of+Municipal+Bonds&amp;rft.pages=614&amp;rft.pub=Wiley&amp;rft.date=2008&amp;rft.isbn=978-0-470-10875-8&amp;rft.aulast=Feldstein&amp;rft.aufirst=Sylvan+G.&amp;rft.au=Fabozzi%2C+Frank+J.&amp;rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DJuc4fb1Fx1cC%26pg%3DPA614&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.abi.org.uk/About_The_ABI/role.aspx" rel="nofollow">What we do ABI</a> <a class="external text" href="https://web.archive.org/web/20090907134048/http://www.abi.org.uk/About_The_ABI/role.aspx" rel="nofollow">Archived</a> 7 September 2009 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>. Abi.org.uk. Retrieved on 18 July 2013.</span>
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<li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFFeinman2010">Feinman, Jay M. (2010). <i>Delay, Deny, Defend : Why Insurance Companies Don't Pay Claims and What You Can Do About It</i>. Portfolio. p. 16. <a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781101196281" title="Special:BookSources/9781101196281"><bdi>9781101196281</bdi></a>. <a class="mw-redirect" href="/wiki/OCLC_(identifier)" title="OCLC (identifier)">OCLC</a> <a class="external text" href="//www.worldcat.org/oclc/883320058" rel="nofollow">883320058</a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Delay%2C+Deny%2C+Defend+%3A+Why+Insurance+Companies+Don%27t+Pay+Claims+and+What+You+Can+Do+About+It&amp;rft.pages=16&amp;rft.pub=Portfolio&amp;rft.date=2010&amp;rft_id=info%3Aoclcnum%2F883320058&amp;rft.isbn=9781101196281&amp;rft.aulast=Feinman&amp;rft.aufirst=Jay+M.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-38">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation journal cs1" id="CITEREFWeirHampton1995">Weir, Audrey A.; Hampton, John H. (March 1995). "Essentials of Risk Management and Insurance". <i>The Journal of Risk and Insurance</i>. <b>62</b> (1): 157. <a class="mw-redirect" href="/wiki/Doi_(identifier)" title="Doi (identifier)">doi</a>:<a class="external text" href="https://doi.org/10.2307%2F253703" rel="nofollow">10.2307/253703</a>. <a class="mw-redirect" href="/wiki/ISSN_(identifier)" title="ISSN (identifier)">ISSN</a> <a class="external text" href="//www.worldcat.org/issn/0022-4367" rel="nofollow">0022-4367</a>. <a class="mw-redirect" href="/wiki/JSTOR_(identifier)" title="JSTOR (identifier)">JSTOR</a> <a class="external text" href="//www.jstor.org/stable/253703" rel="nofollow">253703</a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=The+Journal+of+Risk+and+Insurance&amp;rft.atitle=Essentials+of+Risk+Management+and+Insurance&amp;rft.volume=62&amp;rft.issue=1&amp;rft.pages=157&amp;rft.date=1995-03&amp;rft.issn=0022-4367&amp;rft_id=%2F%2Fwww.jstor.org%2Fstable%2F253703%23id-name%3DJSTOR&amp;rft_id=info%3Adoi%2F10.2307%2F253703&amp;rft.aulast=Weir&amp;rft.aufirst=Audrey+A.&amp;rft.au=Hampton%2C+John+H.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-39"><span class="mw-cite-backlink"><b><a href="#cite_ref-39">^</a></b></span> <span class="reference-text">
Fitzpatrick, Sean, <a class="external text" href="https://ssrn.com/abstract=690316" rel="nofollow"><i>Fear is the Key: A Behavioral Guide to Underwriting Cycles,</i></a> 10 Conn. Ins. L.J. 255 (2004).</span>
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<li id="cite_note-40"><span class="mw-cite-backlink"><b><a href="#cite_ref-40">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation journal cs1" id="CITEREFBergerCumminsWeiss1997">Berger, Allen N.; Cummins, J. David; Weiss, Mary A. (October 1997). <a class="external text" href="https://web.archive.org/web/20000919231814/http://wrdsenet.wharton.upenn.edu/fic/wfic/papers/95/9513.pdf" rel="nofollow">"The Coexistence of Multiple Distribution Systems for Financial Services: The Case of Property-Liability Insurance"</a> <span class="cs1-format">(PDF)</span>. <i>Journal of Business</i>. <b>70</b> (4): 515–46. <a class="mw-redirect" href="/wiki/Doi_(identifier)" title="Doi (identifier)">doi</a>:<a class="external text" href="https://doi.org/10.1086%2F209730" rel="nofollow">10.1086/209730</a>. Archived from <a class="external text" href="http://wrdsenet.wharton.upenn.edu/fic/wfic/papers/95/9513.pdf" rel="nofollow">the original</a> <span class="cs1-format">(PDF)</span> on 19 September 2000.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Journal+of+Business&amp;rft.atitle=The+Coexistence+of+Multiple+Distribution+Systems+for+Financial+Services%3A+The+Case+of+Property-Liability+Insurance.&amp;rft.volume=70&amp;rft.issue=4&amp;rft.pages=515-46&amp;rft.date=1997-10&amp;rft_id=info%3Adoi%2F10.1086%2F209730&amp;rft.aulast=Berger&amp;rft.aufirst=Allen+N.&amp;rft.au=Cummins%2C+J.+David&amp;rft.au=Weiss%2C+Mary+A.&amp;rft_id=http%3A%2F%2Fwrdsenet.wharton.upenn.edu%2Ffic%2Fwfic%2Fpapers%2F95%2F9513.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span> (<a class="external text" href="http://fic.wharton.upenn.edu/fic/papers/95/9513.pdf" rel="nofollow">online draft</a> <a class="external text" href="https://web.archive.org/web/20100622075631/http://fic.wharton.upenn.edu/fic/papers/95/9513.pdf" rel="nofollow">Archived</a> 22 June 2010 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>)</span>
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<li id="cite_note-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-41">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1" id="CITEREFInsurance_Information_Institute"><a href="/wiki/Insurance_Information_Institute" title="Insurance Information Institute">Insurance Information Institute</a>. <a class="external text" href="http://www.iii.org/individuals/business/basics/bop/" rel="nofollow">"Business insurance information. What does a businessowners policy cover?"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">9 May</span> 2007</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Business+insurance+information.+What+does+a+businessowners+policy+cover%3F&amp;rft.au=Insurance+Information+Institute&amp;rft_id=http%3A%2F%2Fwww.iii.org%2Findividuals%2Fbusiness%2Fbasics%2Fbop%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-42">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="http://adjustersinternational.com/publications/adjusting-today/builders-risk-insurance/1/" rel="nofollow">"Builder's Risk Insurance: Specialized Coverage for Construction Projects"</a>. <i>Adjusting Today</i>. Adjusters International<span class="reference-accessdate">. Retrieved <span class="nowrap">16 October</span> 2009</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Adjusting+Today&amp;rft.atitle=Builder%27s+Risk+Insurance%3A+Specialized+Coverage+for+Construction+Projects&amp;rft_id=http%3A%2F%2Fadjustersinternational.com%2Fpublications%2Fadjusting-today%2Fbuilders-risk-insurance%2F1%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-Ali-et-al-2020-43"><span class="mw-cite-backlink">^ <a href="#cite_ref-Ali-et-al-2020_43-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Ali-et-al-2020_43-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Ali-et-al-2020_43-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation journal cs1" id="CITEREFAliAbdulaiMishra2020">Ali, Williams; Abdulai, Awudu; Mishra, Ashok K. (6 October 2020). "Recent Advances in the Analyses of Demand for Agricultural Insurance in Developing and Emerging Countries". <i><a href="/wiki/Annual_Review_of_Resource_Economics" title="Annual Review of Resource Economics">Annual Review of Resource Economics</a></i>. <a href="/wiki/Annual_Reviews_(publisher)" title="Annual Reviews (publisher)">Annual Reviews</a>. <b>12</b> (1): 411–430. <a class="mw-redirect" href="/wiki/Doi_(identifier)" title="Doi (identifier)">doi</a>:<a class="external text" href="https://doi.org/10.1146%2Fannurev-resource-110119-025306" rel="nofollow">10.1146/annurev-resource-110119-025306</a>. <a class="mw-redirect" href="/wiki/ISSN_(identifier)" title="ISSN (identifier)">ISSN</a> <a class="external text" href="//www.worldcat.org/issn/1941-1340" rel="nofollow">1941-1340</a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Annual+Review+of+Resource+Economics&amp;rft.atitle=Recent+Advances+in+the+Analyses+of+Demand+for+Agricultural+Insurance+in+Developing+and+Emerging+Countries&amp;rft.volume=12&amp;rft.issue=1&amp;rft.pages=411-430&amp;rft.date=2020-10-06&amp;rft_id=info%3Adoi%2F10.1146%2Fannurev-resource-110119-025306&amp;rft.issn=1941-1340&amp;rft.aulast=Ali&amp;rft.aufirst=Williams&amp;rft.au=Abdulai%2C+Awudu&amp;rft.au=Mishra%2C+Ashok+K.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-44"><span class="mw-cite-backlink"><b><a href="#cite_ref-44">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r1041539562" rel="mw-deduplicated-inline-style"/><span class="citation patent" id="harv"><a class="external text" href="https://worldwide.espacenet.com/textdoc?DB=EPODOC&amp;IDX=US20,060,287,896" rel="nofollow">US application 20,060,287,896</a></span><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Apatent&amp;rft.applnumber=20,060,287,896&amp;rft.cc=US&amp;rft.title="><span style="display: none;"> </span></span> "Method for providing crop insurance for a crop associated with a defined attribute"</span>
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<li id="cite_note-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-45">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation journal cs1" id="CITEREFBornSpillaneMurray2018">Born, Lorna; Spillane, Charles; Murray, Una (20 December 2018). "Integrating gender into index-based agricultural insurance: a focus on South Africa". <i>Development in Practice</i>. <b>29</b> (4): 409–423. <a class="mw-redirect" href="/wiki/Doi_(identifier)" title="Doi (identifier)">doi</a>:<a class="external text" href="https://doi.org/10.1080%2F09614524.2018.1556608" rel="nofollow">10.1080/09614524.2018.1556608</a>. <a class="mw-redirect" href="/wiki/Hdl_(identifier)" title="Hdl (identifier)">hdl</a>:<span class="cs1-lock-free" title="Freely accessible"><a class="external text" href="//hdl.handle.net/10568%2F102499" rel="nofollow">10568/102499</a></span>. <a class="mw-redirect" href="/wiki/ISSN_(identifier)" title="ISSN (identifier)">ISSN</a> <a class="external text" href="//www.worldcat.org/issn/0961-4524" rel="nofollow">0961-4524</a>. <a class="mw-redirect" href="/wiki/S2CID_(identifier)" title="S2CID (identifier)">S2CID</a> <a class="external text" href="https://api.semanticscholar.org/CorpusID:158288729" rel="nofollow">158288729</a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Development+in+Practice&amp;rft.atitle=Integrating+gender+into+index-based+agricultural+insurance%3A+a+focus+on+South+Africa&amp;rft.volume=29&amp;rft.issue=4&amp;rft.pages=409-423&amp;rft.date=2018-12-20&amp;rft_id=info%3Ahdl%2F10568%2F102499&amp;rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A158288729%23id-name%3DS2CID&amp;rft.issn=0961-4524&amp;rft_id=info%3Adoi%2F10.1080%2F09614524.2018.1556608&amp;rft.aulast=Born&amp;rft.aufirst=Lorna&amp;rft.au=Spillane%2C+Charles&amp;rft.au=Murray%2C+Una&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-46">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1" id="CITEREFInsurance_Information_Institute"><a href="/wiki/Insurance_Information_Institute" title="Insurance Information Institute">Insurance Information Institute</a>. <a class="external text" href="http://www.iii.org/individuals/homei/hbasics/whatis/" rel="nofollow">"What is homeowners insurance?"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">11 November</span> 2008</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=What+is+homeowners+insurance%3F&amp;rft.au=Insurance+Information+Institute&amp;rft_id=http%3A%2F%2Fwww.iii.org%2Findividuals%2Fhomei%2Fhbasics%2Fwhatis%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-47"><span class="mw-cite-backlink"><b><a href="#cite_ref-47">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1" id="CITEREFMiller">Miller, Nathan. <a class="external text" href="https://www.forbes.com/sites/forbesrealestatecouncil/2019/09/10/insurance-for-landlords-protecting-your-investment/" rel="nofollow">"Insurance For Landlords: Protecting Your Investment"</a>. <i>Forbes</i><span class="reference-accessdate">. Retrieved <span class="nowrap">27 October</span> 2019</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Forbes&amp;rft.atitle=Insurance+For+Landlords%3A+Protecting+Your+Investment&amp;rft.aulast=Miller&amp;rft.aufirst=Nathan&amp;rft_id=https%3A%2F%2Fwww.forbes.com%2Fsites%2Fforbesrealestatecouncil%2F2019%2F09%2F10%2Finsurance-for-landlords-protecting-your-investment%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-48"><span class="mw-cite-backlink"><b><a href="#cite_ref-48">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation journal cs1" id="CITEREFSeamanKittredge1997">Seaman, S. M.; Kittredge, C. (Spring 1997). "Excess Liability Insurance: Law and Litigation". <i>Tort &amp; Insurance Law Journal</i>. <b>32</b> (3): 653–714. <a class="mw-redirect" href="/wiki/JSTOR_(identifier)" title="JSTOR (identifier)">JSTOR</a> <a class="external text" href="//www.jstor.org/stable/25763179" rel="nofollow">25763179</a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Tort+%26+Insurance+Law+Journal&amp;rft.atitle=Excess+Liability+Insurance%3A+Law+and+Litigation&amp;rft.ssn=spring&amp;rft.volume=32&amp;rft.issue=3&amp;rft.pages=653-714&amp;rft.date=1997&amp;rft_id=%2F%2Fwww.jstor.org%2Fstable%2F25763179%23id-name%3DJSTOR&amp;rft.aulast=Seaman&amp;rft.aufirst=S.+M.&amp;rft.au=Kittredge%2C+C.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-49"><span class="mw-cite-backlink"><b><a href="#cite_ref-49">^</a></b></span> <span class="reference-text"><a class="external text" href="http://www.business.gov/manage/business-insurance/insurance-types.html" rel="nofollow">Types of Business Insurance | SBA.gov</a> <a class="external text" href="https://web.archive.org/web/20100629042726/http://www.business.gov/manage/business-insurance/insurance-types.html" rel="nofollow">Archived</a> 29 June 2010 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>. Business.gov. Retrieved on 18 July 2013.</span>
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<li id="cite_note-50"><span class="mw-cite-backlink"><b><a href="#cite_ref-50">^</a></b></span> <span class="reference-text">Breathe Insurance Brokers Ltd., <a class="external text" href="http://www.breatheinsurance.co.uk/business-insurance/plant-hire-insurance/" rel="nofollow">Plant Hire Insurance</a>, accessed 1 November 2020</span>
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<li id="cite_note-51"><span class="mw-cite-backlink"><b><a href="#cite_ref-51">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation journal cs1" id="CITEREFBlitzSchoenberg">Blitz, Gary; Schoenberg, Daniel. <a class="external text" href="https://www.transactionadvisors.com/insights/private-reits-facilitating-cleaner-exit-tax-insurance" rel="nofollow">"Private REITs: Facilitating a Cleaner Exit with Tax Insurance"</a>. <i>Transaction Advisors</i>. <a class="mw-redirect" href="/wiki/ISSN_(identifier)" title="ISSN (identifier)">ISSN</a> <a class="external text" href="//www.worldcat.org/issn/2329-9134" rel="nofollow">2329-9134</a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Transaction+Advisors&amp;rft.atitle=Private+REITs%3A+Facilitating+a+Cleaner+Exit+with+Tax+Insurance&amp;rft.issn=2329-9134&amp;rft.aulast=Blitz&amp;rft.aufirst=Gary&amp;rft.au=Schoenberg%2C+Daniel&amp;rft_id=https%3A%2F%2Fwww.transactionadvisors.com%2Finsights%2Fprivate-reits-facilitating-cleaner-exit-tax-insurance&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-52"><span class="mw-cite-backlink"><b><a href="#cite_ref-52">^</a></b></span> <span class="reference-text">Margaret E. Lynch, Editor, "Health Insurance Terminology", Health Insurance Association of America, 1992, <link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/1-879143-13-5" title="Special:BookSources/1-879143-13-5">1-879143-13-5</a></span>
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<li id="cite_note-53"><span class="mw-cite-backlink"><b><a href="#cite_ref-53">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFLencsis1998">Lencsis, Peter M. (1998). <a class="external text" href="https://archive.org/details/workerscompensat00lenc/page/75/mode/2up" rel="nofollow"><i>Workers compensation : a reference and guide</i></a>. Westport, Connecticut: Quorum Books. pp. 75–76. <a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781567201741" title="Special:BookSources/9781567201741"><bdi>9781567201741</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">30 December</span> 2020</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Workers+compensation+%3A+a+reference+and+guide&amp;rft.place=Westport%2C+Connecticut&amp;rft.pages=75-76&amp;rft.pub=Quorum+Books&amp;rft.date=1998&amp;rft.isbn=9781567201741&amp;rft.aulast=Lencsis&amp;rft.aufirst=Peter+M.&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fworkerscompensat00lenc%2Fpage%2F75%2Fmode%2F2up&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-Teale2013-54"><span class="mw-cite-backlink">^ <a href="#cite_ref-Teale2013_54-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Teale2013_54-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFTeale2013">Teale, John (2013). <i>Insurance and Risk Management</i>. Sydney, Australia: CCH/Wolters Kluwer. p. 40. <a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-922042-88-0" title="Special:BookSources/978-1-922042-88-0"><bdi>978-1-922042-88-0</bdi></a>. <q>Risk retention occurs when an individual or business firm retains all or part of a given risk. Risk retention is generally appropriate when the frequency of loss is low and its severity is low. Risk retention can also be appropriate for high-frequency, low-severity risks where potential losses are of low value. Risk retention can be either active or passive. Active risk retention refers to the situation where an individual recognises the risk and deliberately elects to retain all or part of that risk. This may be achieved by a firm or individual electing to carry the first $500 of any loss as a policy excess (or deductible). An excess (or deductible) is a provision in the policy whereby a specified amount is deducted from the loss payment otherwise payable to the insured. Alternatively, the risk manager may decide to self-insure the entire risk thereby saving what they would have paid as an insurance premium. Active risk retention is used because a policy excess will eliminate small policy claims and the administrative expense of adjusting these claims resulting in reduced premiums. It is also used where insurance is either unavailable or too expensive.</q></cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Insurance+and+Risk+Management&amp;rft.place=Sydney%2C+Australia&amp;rft.pages=40&amp;rft.pub=CCH%2FWolters+Kluwer&amp;rft.date=2013&amp;rft.isbn=978-1-922042-88-0&amp;rft.aulast=Teale&amp;rft.aufirst=John&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-55"><span class="mw-cite-backlink"><b><a href="#cite_ref-55">^</a></b></span> <span class="reference-text">Marcos Antonio Mendoza, "Reinsurance as Governance: Governmental Risk Management Pools as a Case Study in the Governance Role Played by Reinsurance Institutions", 21 Conn. Ins. L.J. 53, 55-60 (2014) <a class="external free" href="https://ssrn.com/abstract=2573253" rel="nofollow">https://ssrn.com/abstract=2573253</a></span>
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<li id="cite_note-57"><span class="mw-cite-backlink"><b><a href="#cite_ref-57">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFDavid_Ransom2011">David Ransom (2011). <i>IF1 – Insurance, Legal &amp; Regulatory</i>. Chartered Insurance Institute. p. 2/5. <a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-85713-094-5" title="Special:BookSources/978-0-85713-094-5"><bdi>978-0-85713-094-5</bdi></a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=IF1+%E2%80%93+Insurance%2C+Legal+%26+Regulatory&amp;rft.pages=2%2F5&amp;rft.pub=Chartered+Insurance+Institute&amp;rft.date=2011&amp;rft.isbn=978-0-85713-094-5&amp;rft.au=David+Ransom&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
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<li id="cite_note-78"><span class="mw-cite-backlink"><b><a href="#cite_ref-78">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1" id="CITEREFInsurance_Information_Institute"><a href="/wiki/Insurance_Information_Institute" title="Insurance Information Institute">Insurance Information Institute</a>. <a class="external text" href="http://www.iii.org/media/hottopics/insurance/ratereg/" rel="nofollow">"Issues Update: Regulation Modernization"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">11 November</span> 2008</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Issues+Update%3A+Regulation+Modernization&amp;rft.au=Insurance+Information+Institute&amp;rft_id=http%3A%2F%2Fwww.iii.org%2Fmedia%2Fhottopics%2Finsurance%2Fratereg%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-79"><span class="mw-cite-backlink"><b><a href="#cite_ref-79">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="https://web.archive.org/web/20070927235655/http://www.marketsandpatents.com/IPB-12152006.mht" rel="nofollow">"(Source: Insurance IP Bulletin, December 15, 2006)"</a>. Archived from <a class="external text" href="http://marketsandpatents.com/IPB-12152006.mht" rel="nofollow">the original</a> on 27 September 2007.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=%28Source%3A+Insurance+IP+Bulletin%2C+December+15%2C+2006%29&amp;rft_id=http%3A%2F%2Fmarketsandpatents.com%2FIPB-12152006.mht&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-80"><span class="mw-cite-backlink"><b><a href="#cite_ref-80">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="http://www.freepatentsonline.com/result.html?sort=relevance&amp;srch=top&amp;query_txt=US6922720&amp;submit=&amp;patents=on" rel="nofollow">"FPO IP Research &amp; Communities"</a>. <i>www.freepatentsonline.com</i>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=www.freepatentsonline.com&amp;rft.atitle=FPO+IP+Research+%26+Communities&amp;rft_id=http%3A%2F%2Fwww.freepatentsonline.com%2Fresult.html%3Fsort%3Drelevance%26srch%3Dtop%26query_txt%3DUS6922720%26submit%3D%26patents%3Don&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-81"><span class="mw-cite-backlink"><b><a href="#cite_ref-81">^</a></b></span> <span class="reference-text">Bakos, Nowotarski, "<a class="external text" href="http://www.marketsandpatents.com/bulletin/IPB-12152008.html" rel="nofollow">An Experiment in Better Patent Examination</a>", Insurance IP Bulletin, 15 December 2008.</span>
</li>
<li id="cite_note-82"><span class="mw-cite-backlink"><b><a href="#cite_ref-82">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="http://islamqa.com/en/ref/8889/insurance" rel="nofollow">"Islam Question and Answer – The true nature of insurance and the rulings concerning it"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">18 January</span> 2010</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Islam+Question+and+Answer+%E2%80%93+The+true+nature+of+insurance+and+the+rulings+concerning+it&amp;rft_id=http%3A%2F%2Fislamqa.com%2Fen%2Fref%2F8889%2Finsurance&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-83"><span class="mw-cite-backlink"><b><a href="#cite_ref-83">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="https://web.archive.org/web/20100522222040/http://www.islamonline.net/servlet/Satellite?pagename=IslamOnline-English-Ask_Scholar%2FFatwaE%2FFatwaE&amp;cid=1119503543412" rel="nofollow">"Life Insurance from an Islamic Perspective"</a>. Archived from <a class="external text" href="https://www.islamonline.net/servlet/Satellite?pagename=IslamOnline-English-Ask_Scholar/FatwaE/FatwaE&amp;cid=1119503543412" rel="nofollow">the original</a> on 22 May 2010<span class="reference-accessdate">. Retrieved <span class="nowrap">18 January</span> 2010</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Life+Insurance+from+an+Islamic+Perspective&amp;rft_id=http%3A%2F%2Fwww.islamonline.net%2Fservlet%2FSatellite%3Fpagename%3DIslamOnline-English-Ask_Scholar%2FFatwaE%2FFatwaE%26cid%3D1119503543412&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-84"><span class="mw-cite-backlink"><b><a href="#cite_ref-84">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="https://web.archive.org/web/20100419131351/http://www.jabe.org/insurance.html" rel="nofollow">"Jewish Association for Business Ethics – Insurance"</a>. Archived from <a class="external text" href="http://www.jabe.org/insurance.html" rel="nofollow">the original</a> on 19 April 2010<span class="reference-accessdate">. Retrieved <span class="nowrap">25 March</span> 2008</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Jewish+Association+for+Business+Ethics+%E2%80%93+Insurance&amp;rft_id=http%3A%2F%2Fwww.jabe.org%2Finsurance.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-85"><span class="mw-cite-backlink"><b><a href="#cite_ref-85">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="https://www.faithinbusiness.org/Articles/590904/Insurance_A_Christian.aspx" rel="nofollow">"Insurance: A Christian Perspective - Faith in Business"</a>. <i>www.faith-in-business.org</i><span class="reference-accessdate">. Retrieved <span class="nowrap">5 January</span> 2021</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=www.faith-in-business.org&amp;rft.atitle=Insurance%3A+A+Christian+Perspective+-+Faith+in+Business&amp;rft_id=https%3A%2F%2Fwww.faithinbusiness.org%2FArticles%2F590904%2FInsurance_A_Christian.aspx&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-86"><span class="mw-cite-backlink"><b><a href="#cite_ref-86">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="https://www.crosswalk.com/family/finances/planning/is-your-insurance-a-lack-of-faith-in-god.html" rel="nofollow">"Should Christians Buy Insurance?"</a>. <i>Crosswalk.com</i><span class="reference-accessdate">. Retrieved <span class="nowrap">25 December</span> 2018</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Crosswalk.com&amp;rft.atitle=Should+Christians+Buy+Insurance%3F&amp;rft_id=https%3A%2F%2Fwww.crosswalk.com%2Ffamily%2Ffinances%2Fplanning%2Fis-your-insurance-a-lack-of-faith-in-god.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-87"><span class="mw-cite-backlink"><b><a href="#cite_ref-87">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation news cs1" id="CITEREFRubinkam2006">Rubinkam, Michael (5 October 2006). <a class="external text" href="https://www.washingtonpost.com/wp-dyn/content/article/2006/10/05/AR2006100501360.html" rel="nofollow">"Amish Reluctantly Accept Donations"</a>. <i>The Washington Post</i><span class="reference-accessdate">. Retrieved <span class="nowrap">25 March</span> 2008</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=The+Washington+Post&amp;rft.atitle=Amish+Reluctantly+Accept+Donations&amp;rft.date=2006-10-05&amp;rft.aulast=Rubinkam&amp;rft.aufirst=Michael&amp;rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fwp-dyn%2Fcontent%2Farticle%2F2006%2F10%2F05%2FAR2006100501360.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-88"><span class="mw-cite-backlink"><b><a href="#cite_ref-88">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFDonald_B._Kraybill1989">Donald B. Kraybill (1989). <span class="cs1-lock-registration" title="Free registration required"><a class="external text" href="https://archive.org/details/riddleofamishcu000kray" rel="nofollow"><i>The riddle of Amish culture</i></a></span>. Baltimore : Johns Hopkins University Press. p. 277. <a class="mw-redirect" href="/wiki/ISBN_(identifier)" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8018-3682-4" title="Special:BookSources/978-0-8018-3682-4"><bdi>978-0-8018-3682-4</bdi></a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+riddle+of+Amish+culture&amp;rft.pages=277&amp;rft.pub=Baltimore+%3A+Johns+Hopkins+University+Press&amp;rft.date=1989&amp;rft.isbn=978-0-8018-3682-4&amp;rft.au=Donald+B.+Kraybill&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Friddleofamishcu000kray&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
<li id="cite_note-89"><span class="mw-cite-backlink"><b><a href="#cite_ref-89">^</a></b></span> <span class="reference-text"><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation web cs1"><a class="external text" href="http://www.gameo.org/encyclopedia/contents/I583ME.html" rel="nofollow">"Global Anabaptist Mennonite Encyclopedia Online, Insurance"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">18 January</span> 2010</span>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Global+Anabaptist+Mennonite+Encyclopedia+Online%2C+Insurance&amp;rft_id=http%3A%2F%2Fwww.gameo.org%2Fencyclopedia%2Fcontents%2FI583ME.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></span>
</li>
</ol></div></div>
<h3><span class="mw-headline" id="Sources">Sources</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=54" title="Edit section: Sources">edit</a><span class="mw-editsection-bracket">]</span></span></h3>
<style data-mw-deduplicate="TemplateStyles:r1011217839">.mw-parser-output .refbegin{font-size:90%;margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-100{font-size:100%}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}</style><div class="refbegin" style="">
<ul><li><link href="mw-data:TemplateStyles:r999302996" rel="mw-deduplicated-inline-style"/><cite class="citation book cs1" id="CITEREFDickson1960">Dickson, P. G. M. (1960). <span class="cs1-lock-registration" title="Free registration required"><a class="external text" href="https://archive.org/details/suninsuranceoffi0000dick" rel="nofollow"><i>The Sun Insurance Office 1710–1960: The History of Two and a half Centuries of British Insurance</i></a></span>. London, England: Oxford University Press. p. <a class="external text" href="https://archive.org/details/suninsuranceoffi0000dick/page/324" rel="nofollow">324</a>.</cite><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Sun+Insurance+Office+1710%E2%80%931960%3A+The+History+of+Two+and+a+half+Centuries+of+British+Insurance&amp;rft.place=London%2C+England&amp;rft.pages=324&amp;rft.pub=Oxford+University+Press&amp;rft.date=1960&amp;rft.aulast=Dickson&amp;rft.aufirst=P.+G.+M.&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fsuninsuranceoffi0000dick&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance"></span></li></ul>
</div>
<h2><span class="mw-headline" id="External_links">External links</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=55" title="Edit section: External links">edit</a><span class="mw-editsection-bracket">]</span></span></h2>
<div aria-labelledby="sister-projects" class="metadata plainlinks sistersitebox plainlist mbox-small" role="navigation" style="border:1px solid #aaa;padding:0;background:#f9f9f9"><div style="padding:0.75em 0;text-align:center"><b style="display:block">Insurance</b>at Wikipedia's <a href="/wiki/Wikipedia:Wikimedia_sister_projects" title="Wikipedia:Wikimedia sister projects"><span id="sister-projects">sister projects</span></a></div><ul style="border-top:1px solid #aaa;padding:0.75em 0;width:217px;margin:0 auto"><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" data-file-height="391" data-file-width="391" decoding="async" height="27" src="//upload.wikimedia.org/wikipedia/en/thumb/0/06/Wiktionary-logo-v2.svg/27px-Wiktionary-logo-v2.svg.png" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/06/Wiktionary-logo-v2.svg/41px-Wiktionary-logo-v2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/06/Wiktionary-logo-v2.svg/54px-Wiktionary-logo-v2.svg.png 2x" style="vertical-align: middle" width="27"/></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a class="extiw" href="https://en.wiktionary.org/wiki/Special:Search/Insurance" title="wikt:Special:Search/Insurance">Definitions</a> from Wiktionary</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" data-file-height="1376" data-file-width="1024" decoding="async" height="27" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/20px-Commons-logo.svg.png" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/40px-Commons-logo.svg.png 2x" style="vertical-align: middle" width="20"/></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a class="extiw" href="https://commons.wikimedia.org/wiki/Category:Insurance" title="c:Category:Insurance">Media</a> from Wikimedia Commons</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" data-file-height="415" data-file-width="759" decoding="async" height="15" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/27px-Wikinews-logo.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/41px-Wikinews-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/54px-Wikinews-logo.svg.png 2x" style="vertical-align: middle" width="27"/></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a class="extiw" href="https://en.wikinews.org/wiki/Special:Search/Insurance" title="n:Special:Search/Insurance">News</a> from Wikinews</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" data-file-height="355" data-file-width="300" decoding="async" height="27" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/23px-Wikiquote-logo.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/35px-Wikiquote-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/46px-Wikiquote-logo.svg.png 2x" style="vertical-align: middle" width="23"/></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a class="extiw" href="https://en.wikiquote.org/wiki/Insurance" title="q:Insurance">Quotations</a> from Wikiquote</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" data-file-height="430" data-file-width="410" decoding="async" height="27" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/26px-Wikisource-logo.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/39px-Wikisource-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/51px-Wikisource-logo.svg.png 2x" style="vertical-align: middle" width="26"/></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a class="extiw" href="https://en.wikisource.org/wiki/Special:Search/Insurance" title="s:Special:Search/Insurance">Texts</a> from Wikisource</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" data-file-height="300" data-file-width="300" decoding="async" height="27" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikibooks-logo.svg/27px-Wikibooks-logo.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikibooks-logo.svg/41px-Wikibooks-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikibooks-logo.svg/54px-Wikibooks-logo.svg.png 2x" style="vertical-align: middle" width="27"/></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a class="extiw" href="https://en.wikibooks.org/wiki/Special:Search/Insurance" title="b:Special:Search/Insurance">Textbooks</a> from Wikibooks</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" data-file-height="512" data-file-width="626" decoding="async" height="22" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/27px-Wikiversity_logo_2017.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/41px-Wikiversity_logo_2017.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/54px-Wikiversity_logo_2017.svg.png 2x" style="vertical-align: middle" width="27"/></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a class="extiw" href="https://en.wikiversity.org/wiki/Special:Search/Insurance" title="v:Special:Search/Insurance">Resources</a> from Wikiversity</span></li></ul></div>
<ul><li><a class="external text" href="http://www.ncsl.org/research/health/congressional-research-service-reports-on-health.aspx" rel="nofollow">Congressional Research Service (CRS) Reports regarding the US Insurance industry</a></li>
<li><a class="external text" href="http://www.ferma.eu/" rel="nofollow">Federation of European Risk Management Associations</a></li>
<li><a class="external text" href="https://curlie.org/Home/Personal_Finance/Insurance" rel="nofollow">Insurance</a> at <a class="mw-redirect" href="/wiki/Curlie" title="Curlie">Curlie</a></li>
<li><a class="external text" href="http://www.ibc.ca/" rel="nofollow">Insurance Bureau of Canada</a></li>
<li><a class="external text" href="http://www.iii.org/" rel="nofollow">Insurance Information Institute</a></li>
<li><a class="external text" href="http://www.naic.org/" rel="nofollow">National Association of Insurance Commissioners</a></li>
<li><a class="external text" href="https://web.archive.org/web/20060525173303/http://www.bl.uk/collections/business/insurind.html" rel="nofollow">The British Library</a> – finding information on the insurance industry (UK focus)</li></ul>
<div style="clear:both;"></div>
<div aria-labelledby="Insurance" class="navbox" role="navigation" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><style data-mw-deduplicate="TemplateStyles:r992953826">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}.mw-parser-output .infobox .navbar{font-size:100%}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Insurance" title="Template:Insurance"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Insurance" title="Template talk:Insurance"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Template:Insurance&amp;action=edit"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="Edit this template">e</abbr></a></li></ul></div><div id="Insurance" style="font-size:114%;margin:0 4em"><a class="mw-selflink selflink">Insurance</a></div></th></tr><tr><th class="navbox-group" scope="row" style="width:1%">Types of insurance</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Health_insurance" title="Health insurance">Health</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Accidental_death_and_dismemberment_insurance" title="Accidental death and dismemberment insurance">Accidental death and dismemberment</a></li>
<li><a href="/wiki/Dental_insurance" title="Dental insurance">Dental</a></li>
<li><a href="/wiki/Disability_insurance" title="Disability insurance">Disability</a> (<a href="/wiki/Total_permanent_disability_insurance" title="Total permanent disability insurance">Total permanent disability</a>)</li>
<li><a href="/wiki/Income_protection_insurance" title="Income protection insurance">Income protection</a></li>
<li><a href="/wiki/Long-term_care_insurance" title="Long-term care insurance">Long-term care</a></li>
<li><a href="/wiki/National_health_insurance" title="National health insurance">National health</a></li>
<li><a href="/wiki/Payment_protection_insurance" title="Payment protection insurance">Payment protection</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Life_insurance" title="Life insurance">Life</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Longevity_insurance" title="Longevity insurance">Longevity insurance</a></li>
<li><a href="/wiki/Mortgage_life_insurance" title="Mortgage life insurance">Mortgage life</a></li>
<li><a href="/wiki/Term_life_insurance" title="Term life insurance">Term life</a></li>
<li><a href="/wiki/Unitised_insurance_fund" title="Unitised insurance fund">Unitised fund</a></li>
<li><a href="/wiki/Universal_life_insurance" title="Universal life insurance">Universal life</a></li>
<li><a href="/wiki/Variable_universal_life_insurance" title="Variable universal life insurance">Variable universal life</a></li>
<li><a href="/wiki/Whole_life_insurance" title="Whole life insurance">Whole life</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Business</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Bond_insurance" title="Bond insurance">Bond</a></li>
<li><a href="/wiki/Business_owner%27s_policy" title="Business owner's policy">Business owner</a></li>
<li><a href="/wiki/Directors_and_officers_liability_insurance" title="Directors and officers liability insurance">Directors and officers liability</a></li>
<li><a href="/wiki/Fidelity_bond" title="Fidelity bond">Fidelity</a></li>
<li><a href="/wiki/Professional_liability_insurance" title="Professional liability insurance">Professional liability</a></li>
<li><a href="/wiki/Protection_and_indemnity_insurance" title="Protection and indemnity insurance">Protection and indemnity</a></li>
<li><a href="/wiki/Trade_credit_insurance" title="Trade credit insurance">Trade credit</a></li>
<li><a href="/wiki/Umbrella_insurance" title="Umbrella insurance">Umbrella</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Residential</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Contents_insurance" title="Contents insurance">Contents</a></li>
<li><a href="/wiki/Earthquake_insurance" title="Earthquake insurance">Earthquake</a></li>
<li><a href="/wiki/Flood_insurance" title="Flood insurance">Flood</a></li>
<li><a href="/wiki/Home_insurance" title="Home insurance">Home</a></li>
<li><a href="/wiki/Landlords%27_insurance" title="Landlords' insurance">Landlords'</a></li>
<li><a href="/wiki/Lenders_mortgage_insurance" title="Lenders mortgage insurance">Lenders mortgage</a></li>
<li><a href="/wiki/Mortgage_insurance" title="Mortgage insurance">Mortgage</a></li>
<li><a href="/wiki/Property_insurance" title="Property insurance">Property</a></li>
<li><a href="/wiki/Renters%27_insurance" title="Renters' insurance">Renters'</a></li>
<li><a href="/wiki/Title_insurance" title="Title insurance">Title</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Transport/<br/>Communication</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Aviation_insurance" title="Aviation insurance">Aviation</a></li>
<li><a href="/wiki/Public_auto_insurance" title="Public auto insurance">Public auto</a></li>
<li><a href="/wiki/Marine_insurance" title="Marine insurance">Marine</a></li>
<li><a href="/wiki/Satellite_insurance" title="Satellite insurance">Satellite</a></li>
<li><a href="/wiki/Shipping_insurance" title="Shipping insurance">Shipping</a></li>
<li><a href="/wiki/Travel_insurance" title="Travel insurance">Travel</a></li>
<li><a href="/wiki/Vehicle_insurance" title="Vehicle insurance">Vehicle</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Other</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a></li>
<li><a href="/wiki/Casualty_insurance" title="Casualty insurance">Casualty</a></li>
<li><a class="mw-redirect" href="/wiki/Crime_insurance" title="Crime insurance">Crime</a></li>
<li><a href="/wiki/Crop_insurance" title="Crop insurance">Crop</a></li>
<li><a href="/wiki/Extended_warranty" title="Extended warranty">Extended warranty</a></li>
<li><a href="/wiki/Group_insurance" title="Group insurance">Group</a></li>
<li><a href="/wiki/Index-based_insurance" title="Index-based insurance">Index-based</a></li>
<li><a href="/wiki/Legal_expenses_insurance" title="Legal expenses insurance">Legal protection</a></li>
<li><a href="/wiki/Liability_insurance" title="Liability insurance">Liability</a></li>
<li><a href="/wiki/No-fault_insurance" title="No-fault insurance">No-fault</a></li>
<li><a href="/wiki/Pet_insurance" title="Pet insurance">Pet</a></li>
<li><a href="/wiki/Terrorism_insurance" title="Terrorism insurance">Terrorism</a></li>
<li><a href="/wiki/War_risk_insurance" title="War risk insurance">War risk</a></li>
<li><a href="/wiki/Weather_insurance" title="Weather insurance">Weather</a></li>
<li><a href="/wiki/Workers%27_compensation" title="Workers' compensation">Workers' compensation</a></li>
<li><a href="/wiki/Takaful" title="Takaful">Takaful</a></li>
<li><a class="new" href="/w/index.php?title=Mining_insurance&amp;action=edit&amp;redlink=1" title="Mining insurance (page does not exist)">Mining</a></li></ul>
</div></td></tr></tbody></table><div></div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Insurance policy and law</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Insurance_policy" title="Insurance policy">Insurance policy</a></li>
<li><a href="/wiki/Act_of_God" title="Act of God">Act of God</a></li>
<li><a href="/wiki/Cancellation_(insurance)" title="Cancellation (insurance)">Cancellation</a>
<ul><li><i><a href="/wiki/Pro_rata" title="Pro rata">Pro rata</a></i></li>
<li><a href="/wiki/Short_rate_table" title="Short rate table">Short rate table</a></li></ul></li>
<li><a href="/wiki/Deductible" title="Deductible">Deductible</a>
<ul><li><a href="/wiki/Co-insurance" title="Co-insurance">Co-insurance</a></li>
<li><a href="/wiki/Copayment" title="Copayment">Copayment</a></li>
<li><a href="/wiki/Out-of-pocket_expense" title="Out-of-pocket expense">Out-of-pocket expense</a></li></ul></li>
<li><i><a href="/wiki/Force_majeure" title="Force majeure">Force majeure</a></i></li>
<li><a href="/wiki/General_average" title="General average">General average</a></li>
<li><a href="/wiki/Insurance_law" title="Insurance law">Insurance law</a></li>
<li><a href="/wiki/Health_Insurance_Portability_and_Accountability_Act" title="Health Insurance Portability and Accountability Act">Health Insurance Portability and Accountability Act</a></li>
<li><a href="/wiki/Insurance_fraud" title="Insurance fraud">Insurance fraud</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Insurance by country</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Insurance_in_Australia" title="Insurance in Australia">Australia</a></li>
<li><a href="/wiki/Insurance_industry_in_China" title="Insurance industry in China">China</a></li>
<li><a href="/wiki/Insurance_in_India" title="Insurance in India">India</a></li>
<li><a href="/wiki/Insurance_in_Pakistan" title="Insurance in Pakistan">Pakistan</a></li>
<li><a href="/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom">United Kingdom</a></li>
<li><a href="/wiki/Insurance_in_the_United_States" title="Insurance in the United States">United States</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/History_of_insurance" title="History of insurance">History</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Banker_(ancient)" title="Banker (ancient)">Mesopotamian banker</a></li>
<li><i><a href="/wiki/Code_of_Hammurabi" title="Code of Hammurabi">Codex Hammurabi</a></i>
<ul><li><a href="/wiki/Marine_insurance" title="Marine insurance">§100–105; §126</a>; <a href="/wiki/Labour_law" title="Labour law">§234</a>; <a href="/wiki/Marine_insurance" title="Marine insurance">§235–238; §240</a>; <a href="/wiki/Labour_law" title="Labour law">§275–277</a></li></ul></li>
<li><i><a href="/wiki/Collegium_(ancient_Rome)" title="Collegium (ancient Rome)">Collegium</a></i>
<ul><li><a href="/wiki/Burial_society" title="Burial society">Burial society</a></li>
<li><a href="/wiki/Guild" title="Guild">Guild</a></li></ul></li>
<li><i><a href="/wiki/Corpus_Juris_Civilis" title="Corpus Juris Civilis">Corpus Juris Civilis</a></i>
<ul><li><i><a href="/wiki/Digest_(Roman_law)" title="Digest (Roman law)">Digesta</a></i></li></ul></li>
<li><a href="/wiki/Benefit_society" title="Benefit society">Benefit</a>/<a href="/wiki/Friendly_society" title="Friendly society">Friendly society</a>
<ul><li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li>
<li><a href="/wiki/Cooperative_banking" title="Cooperative banking">Cooperative banking</a></li>
<li><a href="/wiki/Credit_union" title="Credit union">Credit union</a></li>
<li><a href="/wiki/Fraternal_order" title="Fraternal order">Fraternal order</a></li>
<li><a href="/wiki/Mutual_organization" title="Mutual organization">Mutual organization</a></li>
<li><a href="/wiki/Mutual_savings_bank" title="Mutual savings bank">Mutual savings bank</a></li>
<li><a href="/wiki/Rochdale_Principles" title="Rochdale Principles">Rochdale Principles</a></li>
<li><a href="/wiki/Savings_and_loan_association" title="Savings and loan association">Savings and loan association</a></li>
<li><a href="/wiki/Social_insurance" title="Social insurance">Social insurance</a></li>
<li><a href="/wiki/Trade_union" title="Trade union">Trade union</a></li></ul></li></ul>
</div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div>
<ul><li><b><a href="/wiki/Category:Insurance" title="Category:Insurance">Category</a></b></li>
<li><b><a href="/wiki/Outline_of_finance#Insurance" title="Outline of finance">List of topics</a></b></li></ul>
</div></td></tr></tbody></table></div>
<div aria-labelledby="Major_insurance_and_reinsurance_companies" class="navbox" role="navigation" style="padding:3px"><table class="nowraplinks mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><link href="mw-data:TemplateStyles:r992953826" rel="mw-deduplicated-inline-style"/><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Major_insurance_companies" title="Template:Major insurance companies"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Major_insurance_companies" title="Template talk:Major insurance companies"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Template:Major_insurance_companies&amp;action=edit"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="Edit this template">e</abbr></a></li></ul></div><div id="Major_insurance_and_reinsurance_companies" style="font-size:114%;margin:0 4em">Major <a class="mw-selflink selflink">insurance</a> and <a href="/wiki/Reinsurance" title="Reinsurance">reinsurance</a> companies</div></th></tr><tr><th class="navbox-group" scope="row" style="width:1%;text-align: left;">Insurance</th><td class="navbox-list navbox-odd hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%;text-align: left;background-color: #eee;">Composite</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Aegon_N.V." title="Aegon N.V.">Aegon</a></li>
<li><a href="/wiki/Ageas" title="Ageas">Ageas</a></li>
<li><a href="/wiki/American_International_Group" title="American International Group">AIG</a></li>
<li><a href="/wiki/Allianz" title="Allianz">Allianz</a></li>
<li><a href="/wiki/Allstate" title="Allstate">Allstate</a></li>
<li><a href="/wiki/Aon_(company)" title="Aon (company)">Aon</a></li>
<li><a href="/wiki/Aviva" title="Aviva">Aviva</a></li>
<li><a href="/wiki/Axa" title="Axa">Axa</a></li>
<li><a href="/wiki/China_Pacific_Insurance_Company" title="China Pacific Insurance Company">China Pacific</a></li>
<li><a href="/wiki/Assicurazioni_Generali" title="Assicurazioni Generali">Generali</a></li>
<li><a href="/wiki/Farmers_Insurance_Group" title="Farmers Insurance Group">Farmers</a></li>
<li><a href="/wiki/Japan_Post_Insurance" title="Japan Post Insurance">Japan Post</a></li>
<li><a href="/wiki/NN_Group" title="NN Group">NN</a></li>
<li><a href="/wiki/Ping_An_Insurance" title="Ping An Insurance">Ping An</a></li>
<li><a href="/wiki/Prudential_plc" title="Prudential plc">Prudential</a></li>
<li><a href="/wiki/Powszechny_Zak%C5%82ad_Ubezpiecze%C5%84" title="Powszechny Zakład Ubezpieczeń">PZU</a></li>
<li><a href="/wiki/National_Mutual_Insurance_Federation_of_Agricultural_Cooperatives" title="National Mutual Insurance Federation of Agricultural Cooperatives">National Mutual Insurance Federation of Agricultural Cooperatives</a></li>
<li><a href="/wiki/State_Farm" title="State Farm">State Farm</a></li>
<li><a href="/wiki/The_Hartford" title="The Hartford">The Hartford</a></li>
<li><a href="/wiki/Unipol" title="Unipol">Unipol</a>
<ul><li><a href="/wiki/UnipolSai" title="UnipolSai">UnipolSai</a></li></ul></li>
<li><a href="/wiki/USAA" title="USAA">USAA</a></li>
<li><a href="/wiki/Vienna_Insurance_Group" title="Vienna Insurance Group">Vienna</a></li>
<li><a href="/wiki/Zurich_Insurance_Group" title="Zurich Insurance Group">Zurich</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%;text-align: left;background-color: #eee;">General</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Axa_XL" title="Axa XL">Axa XL</a></li>
<li><a href="/wiki/Berkshire_Hathaway" title="Berkshire Hathaway">Berkshire Hathaway</a></li>
<li><a href="/wiki/BNP_Paribas" title="BNP Paribas">BNP Paribas</a></li>
<li><a href="/wiki/Bradesco_Seguros" title="Bradesco Seguros">Bradesco Seguros</a></li>
<li><a href="/wiki/Direct_Line_Group" title="Direct Line Group">Direct Line</a></li>
<li><a class="mw-redirect" href="/wiki/Hyundai_Marine_%26_Fire_Insurance" title="Hyundai Marine &amp; Fire Insurance">Hyundai Marine &amp; Fire</a></li>
<li><a href="/wiki/If_P%26C_Insurance" title="If P&amp;C Insurance">If P&amp;C</a></li>
<li><a href="/wiki/Insurance_Australia_Group" title="Insurance Australia Group">Insurance Australia</a></li>
<li><a href="/wiki/Liberty_Mutual" title="Liberty Mutual">Liberty Mutual</a></li>
<li><a href="/wiki/Mapfre" title="Mapfre">Mapfre</a></li>
<li><a href="/wiki/MS%26AD_Insurance_Group" title="MS&amp;AD Insurance Group">MS&amp;AD</a></li>
<li><a href="/wiki/People%27s_Insurance_Company_of_China" title="People's Insurance Company of China">PICC</a>
<ul><li><a href="/wiki/PICC_Property_and_Casualty" title="PICC Property and Casualty">P&amp;C</a></li></ul></li>
<li><a href="/wiki/QBE_Insurance" title="QBE Insurance">QBE</a></li>
<li><a href="/wiki/RSA_Insurance_Group" title="RSA Insurance Group">RSA</a></li>
<li><a href="/wiki/Samsung_Fire_%26_Marine_Insurance" title="Samsung Fire &amp; Marine Insurance">Samsung Fire &amp; Marine</a></li>
<li><a href="/wiki/Sompo_Japan_Nipponkoa_Insurance" title="Sompo Japan Nipponkoa Insurance">Sompo Japan Nipponkoa</a></li>
<li><a href="/wiki/Tokio_Marine" title="Tokio Marine">Tokio Marine</a></li>
<li><a href="/wiki/The_Travelers_Companies" title="The Travelers Companies">Travelers</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%;text-align: left;background-color: #eee;">Life</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/AIA_Group" title="AIA Group">AIA</a></li>
<li><a href="/wiki/Aviva" title="Aviva">Aviva</a></li>
<li><a href="/wiki/Bupa" title="Bupa">Bupa</a></li>
<li><a href="/wiki/China_Life_Insurance_Company" title="China Life Insurance Company">China Life</a></li>
<li><a href="/wiki/CNP_Assurances" title="CNP Assurances">CNP Assurances</a></li>
<li><a href="/wiki/Dai-ichi_Life" title="Dai-ichi Life">Dai-ichi</a></li>
<li><a href="/wiki/Great_Eastern_Life" title="Great Eastern Life">Great Eastern</a></li>
<li><a href="/wiki/Jackson_National_Life" title="Jackson National Life">Jackson</a></li>
<li><a href="/wiki/Knights_of_Columbus" title="Knights of Columbus">Knights of Columbus</a></li>
<li><a href="/wiki/Legal_%26_General" title="Legal &amp; General">Legal &amp; General</a></li>
<li><a href="/wiki/Life_Insurance_Corporation" title="Life Insurance Corporation">LIC</a></li>
<li><a href="/wiki/Lincoln_National_Corporation" title="Lincoln National Corporation">Lincoln National</a></li>
<li><a href="/wiki/Manulife" title="Manulife">Manulife</a></li>
<li><a href="/wiki/Meiji_Yasuda_Life" title="Meiji Yasuda Life">Meiji Yasuda</a></li>
<li><a href="/wiki/MetLife" title="MetLife">MetLife</a></li>
<li><a href="/wiki/National_Life_Group" title="National Life Group">National Life</a></li>
<li><a href="/wiki/New_China_Life_Insurance" title="New China Life Insurance">New China Life</a></li>
<li><a href="/wiki/New_York_Life_Insurance_Company" title="New York Life Insurance Company">New York Life</a></li>
<li><a href="/wiki/Nippon_Life" title="Nippon Life">Nippon Life</a></li>
<li><a href="/wiki/Northwestern_Mutual" title="Northwestern Mutual">Northwestern Mutual</a></li>
<li><a href="/wiki/Old_Mutual" title="Old Mutual">Old Mutual</a></li>
<li><a href="/wiki/Phoenix_Group" title="Phoenix Group">Phoenix Group</a></li>
<li><a href="/wiki/Prudential_Financial" title="Prudential Financial">Prudential Financial</a></li>
<li><a href="/wiki/Samsung_Life_Insurance" title="Samsung Life Insurance">Samsung Life</a></li>
<li><a href="/wiki/Scottish_Widows" title="Scottish Widows">Scottish Widows</a></li>
<li><a href="/wiki/Standard_Life" title="Standard Life">Standard</a></li>
<li><a href="/wiki/Sumitomo_Life" title="Sumitomo Life">Sumitomo</a></li>
<li><a href="/wiki/Sun_Life_Financial" title="Sun Life Financial">Sun Life</a></li>
<li><a href="/wiki/Swiss_Life" title="Swiss Life">Swiss Life</a></li>
<li><a href="/wiki/Taikang_Life_Insurance" title="Taikang Life Insurance">Taikang</a></li>
<li><a href="/wiki/SunLife" title="SunLife">SunLife</a></li></ul>
</div></td></tr></tbody></table><div></div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%;text-align: left;">Reinsurance</th><td class="navbox-list navbox-even hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/China_Re" title="China Re">China Re</a></li>
<li><a href="/wiki/Gen_Re" title="Gen Re">Gen Re</a></li>
<li><a href="/wiki/Hannover_Re" title="Hannover Re">Hannover Re</a></li>
<li><a href="/wiki/Korean_Reinsurance_Company" title="Korean Reinsurance Company">Korean Reinsurance</a></li>
<li><a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Lloyd's of London</a></li>
<li><a href="/wiki/Munich_Re" title="Munich Re">Munich Re</a></li>
<li><a href="/wiki/General_Insurance_Corporation_of_India" title="General Insurance Corporation of India">GIC</a></li>
<li><a href="/wiki/Exor_(company)#PartnerRe" title="Exor (company)">PartnerRe</a></li>
<li><a href="/wiki/Reinsurance_Group_of_America" title="Reinsurance Group of America">Reinsurance Group of America</a></li>
<li><a href="/wiki/SCOR_SE" title="SCOR SE">SCOR</a></li>
<li><a href="/wiki/Swiss_Re" title="Swiss Re">Swiss Re</a></li>
<li><a href="/wiki/Axa_XL" title="Axa XL">Axa XL</a></li></ul>
</div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div><small><i>Methodology: Applicable FY2013/14 revenues of over US$3 billion</i></small></div></td></tr></tbody></table></div>
<div aria-labelledby="Major_industries" class="navbox" role="navigation" style="padding:3px"><table class="nowraplinks hlist mw-collapsible expanded navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><link href="mw-data:TemplateStyles:r992953826" rel="mw-deduplicated-inline-style"/><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Industries" title="Template:Industries"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Industries" title="Template talk:Industries"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Template:Industries&amp;action=edit"><abbr style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;" title="Edit this template">e</abbr></a></li></ul></div><div id="Major_industries" style="font-size:114%;margin:0 4em">Major <a href="/wiki/Industry_(economics)" title="Industry (economics)">industries</a></div></th></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><div id="Natural_sector" style="font-size:114%;margin:0 4em"><a href="/wiki/Primary_sector_of_the_economy" title="Primary sector of the economy">Natural sector</a></div></th></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%">Biotic</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Agriculture" title="Agriculture">Agriculture</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a class="mw-redirect" href="/wiki/Arable_farming" title="Arable farming">Arable farming</a>
<ul><li><a href="/wiki/Cereal#Production" title="Cereal">Cereals</a></li>
<li><a href="/wiki/Legume#Uses" title="Legume">Legumes</a></li>
<li><a href="/wiki/Vegetable_farming" title="Vegetable farming">Vegetables</a></li>
<li><a href="/wiki/Fiber_crop" title="Fiber crop">Fiber crops</a></li>
<li><a href="/wiki/Vegetable_oil" title="Vegetable oil">Oilseeds</a></li>
<li><a href="/wiki/Sugar_industry" title="Sugar industry">Sugar</a></li>
<li><a href="/wiki/Tobacco_industry" title="Tobacco industry">Tobacco</a></li></ul></li>
<li><a href="/wiki/Permanent_crop" title="Permanent crop">Permanent crops</a>
<ul><li><a href="/wiki/Pome" title="Pome">Apples et al.</a></li>
<li><a href="/wiki/Berry#Commercial_production" title="Berry">Berries</a></li>
<li><a href="/wiki/Citrus_production" title="Citrus production">Citrus</a></li>
<li><a href="/wiki/Drupe" title="Drupe">Stone fruits</a></li>
<li><a href="/wiki/List_of_culinary_fruits#Tropical_and_tropical-like_fruit" title="List of culinary fruits">Tropical fruit</a></li>
<li><a href="/wiki/Viticulture" title="Viticulture">Viticulture</a></li>
<li><a href="/wiki/Cocoa_bean#Cultivation" title="Cocoa bean">Cocoa</a></li>
<li><a class="mw-redirect" href="/wiki/Coffee_industry" title="Coffee industry">Coffee</a></li>
<li><a href="/wiki/Tea#Production" title="Tea">Tea</a></li>
<li><a class="mw-redirect" href="/wiki/Nut_(food)#Production" title="Nut (food)">Nuts</a></li>
<li><a href="/wiki/Olive" title="Olive">Olives</a></li>
<li><a href="/wiki/Medicinal_plants" title="Medicinal plants">Medicinal plants</a></li>
<li><a href="/wiki/Spice" title="Spice">Spices</a></li></ul></li>
<li><a href="/wiki/Horticulture_industry" title="Horticulture industry">Horticulture</a>
<ul><li><a href="/wiki/Floral_industry" title="Floral industry">Flowers</a></li>
<li><a href="/wiki/Seed_company" title="Seed company">Seeds</a></li></ul></li>
<li><a href="/wiki/Animal_husbandry" title="Animal husbandry">Animal husbandry</a>
<ul><li><a href="/wiki/Beef_cattle" title="Beef cattle">Beef cattle</a></li>
<li><a href="/wiki/Dairy_farming#Market" title="Dairy farming">Dairy farming</a></li>
<li><a href="/wiki/Fur_farming" title="Fur farming">Fur farming</a></li>
<li><a href="/wiki/Horse_industry" title="Horse industry">Horses</a></li>
<li><a href="/wiki/Livestock" title="Livestock">Other livestock</a></li>
<li><a href="/wiki/Pig_farming" title="Pig farming">Pig</a></li>
<li><a href="/wiki/Wool#Production" title="Wool">Wool</a></li>
<li><a href="/wiki/Poultry_farming" title="Poultry farming">Poultry</a></li>
<li><a href="/wiki/Beekeeping" title="Beekeeping">Beekeeping</a></li>
<li><a href="/wiki/Cochineal#Farming" title="Cochineal">Cochineal</a></li>
<li><a href="/wiki/Lac" title="Lac">Lac</a></li>
<li><a href="/wiki/Silk#Production_process" title="Silk">Silk</a></li></ul></li>
<li><a href="/wiki/Hunting" title="Hunting">Hunting</a>
<ul><li><a class="mw-redirect" href="/wiki/Fur_trapping" title="Fur trapping">Fur trapping</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Forestry" title="Forestry">Forestry</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Silviculture" title="Silviculture">Silviculture</a>
<ul><li><a href="/wiki/Bamboo_cultivation" title="Bamboo cultivation">Bamboo</a></li></ul></li>
<li><a href="/wiki/Logging" title="Logging">Logging</a>
<ul><li><a href="/wiki/Firewood" title="Firewood">Firewood</a></li></ul></li>
<li><a href="/wiki/Rattan#Economic_and_environmental_issues" title="Rattan">Rattan</a></li>
<li><a class="new" href="/w/index.php?title=Tree_tapping&amp;action=edit&amp;redlink=1" title="Tree tapping (page does not exist)">Tree tapping</a>
<ul><li><a href="/wiki/Frankincense#Production" title="Frankincense">Frankincense</a></li>
<li><a href="/wiki/Gum_arabic#Production" title="Gum arabic">Gum arabic</a></li>
<li><a href="/wiki/Gutta-percha#Uses" title="Gutta-percha">Gutta-percha</a></li>
<li><a href="/wiki/Maple_syrup#Production" title="Maple syrup">Maple syrup</a></li>
<li><a href="/wiki/Mastic_(plant_resin)#Cultivation" title="Mastic (plant resin)">Mastic</a></li>
<li><a href="/wiki/Natural_rubber#Production" title="Natural rubber">Natural rubber</a></li>
<li><a href="/wiki/Palm_sugar" title="Palm sugar">Palm sugar</a>, <a href="/wiki/Palm_syrup" title="Palm syrup">syrup</a>, &amp; <a href="/wiki/Palm_wine" title="Palm wine">wine</a></li>
<li><a href="/wiki/Naval_stores_industry" title="Naval stores industry">Pine resin</a></li></ul></li>
<li><a href="/wiki/Mushroom_hunting" title="Mushroom hunting">Wild mushrooms</a>
<ul><li><a href="/wiki/Fungiculture" title="Fungiculture">Fungiculture</a></li>
<li><a href="/wiki/Truffle" title="Truffle">Truffles</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Aquatic</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Fishing_industry" title="Fishing industry">Fishing</a>
<ul><li><a href="/wiki/Anchovy#Fisheries" title="Anchovy">Anchovies</a></li>
<li><a href="/wiki/Herring#Fisheries" title="Herring">Herring</a></li>
<li><a href="/wiki/Sardine#Fisheries" title="Sardine">Sardines</a></li>
<li><a href="/wiki/Cod_fisheries" title="Cod fisheries">Cod</a></li>
<li><a href="/wiki/Haddock#Fisheries" title="Haddock">Haddock</a></li>
<li><a href="/wiki/Alaska_pollock#Fisheries" title="Alaska pollock">Pollock</a></li>
<li><a href="/wiki/Mackerel#Fisheries" title="Mackerel">Mackerel</a></li>
<li><a href="/wiki/Shark#Fishery" title="Shark">Shark</a></li>
<li><a href="/wiki/Swordfish#Fisheries" title="Swordfish">Swordfish</a></li>
<li><a href="/wiki/Tuna#Fishing_industry" title="Tuna">Tuna</a></li>
<li><a href="/wiki/Crab_fisheries" title="Crab fisheries">Crabs</a></li>
<li><a href="/wiki/Lobster_fishing" title="Lobster fishing">Lobsters</a></li>
<li><a href="/wiki/Sea_urchin#As_food" title="Sea urchin">Sea urchins</a></li>
<li><a href="/wiki/Squid#Commercial_fishing" title="Squid">Squid</a></li>
<li><a href="/wiki/Whaling" title="Whaling">Whaling</a></li></ul></li>
<li><a href="/wiki/Aquaculture" title="Aquaculture">Aquaculture</a>
<ul><li><a href="/wiki/Carp#Aquaculture" title="Carp">Carp</a></li>
<li><a href="/wiki/Aquaculture_of_catfish" title="Aquaculture of catfish">Catfish</a></li>
<li><a href="/wiki/Aquaculture_of_tilapia" title="Aquaculture of tilapia">Tilapia</a></li>
<li><a href="/wiki/Abalone#Farming" title="Abalone">Abalone</a></li>
<li><a href="/wiki/Mussel#Aquaculture" title="Mussel">Mussels</a></li>
<li><a href="/wiki/Oyster_farming" title="Oyster farming">Oysters</a></li>
<li><a href="/wiki/Cultured_pearl" title="Cultured pearl">Pearls</a></li>
<li><a href="/wiki/Culture_of_microalgae_in_hatcheries" title="Culture of microalgae in hatcheries">Microalgae</a></li>
<li><a href="/wiki/Seaweed_farming" title="Seaweed farming">Seaweed</a></li></ul></li>
<li>Both
<ul><li><a href="/wiki/Clam_digging" title="Clam digging">Clams</a></li>
<li><a href="/wiki/Sea_cucumber_as_food" title="Sea cucumber as food">Sea cucumbers</a></li>
<li><a href="/wiki/Scallop#Seafood_industry" title="Scallop">Scallops</a></li>
<li><a href="/wiki/Salmon" title="Salmon">Salmon</a></li>
<li><a href="/wiki/Shrimp#Human_uses" title="Shrimp">Shrimp</a></li></ul></li></ul>
</div></td></tr></tbody></table><div></div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Geological</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a class="mw-redirect" href="/wiki/Fossil_fuel_industry" title="Fossil fuel industry">Fossil fuels</a>
<ul><li><a class="mw-redirect" href="/wiki/Coal_industry" title="Coal industry">Coal</a></li>
<li><a href="/wiki/Peat" title="Peat">Peat</a></li>
<li><a href="/wiki/Natural_gas" title="Natural gas">Natural gas</a></li>
<li><a href="/wiki/Oil_shale_industry" title="Oil shale industry">Oil shale</a></li>
<li><a href="/wiki/Petroleum_industry" title="Petroleum industry">Petroleum</a></li>
<li><a href="/wiki/Oil_sands" title="Oil sands">Tar sands</a></li></ul></li>
<li><a href="/wiki/Mining" title="Mining">Mining</a> of <a href="/wiki/Ore" title="Ore">ores</a>
<ul><li><a href="/wiki/Aluminium#Production_and_refinement" title="Aluminium">Aluminum</a></li>
<li><a href="/wiki/Copper#Production" title="Copper">Copper</a></li>
<li><a href="/wiki/Iron_ore#Production_and_consumption" title="Iron ore">Iron</a></li>
<li><a href="/wiki/Gold_mining" title="Gold mining">Gold</a></li>
<li><a href="/wiki/Silver_mining" title="Silver mining">Silver</a></li>
<li><a href="/wiki/Palladium" title="Palladium">Palladium</a></li>
<li><a href="/wiki/Platinum#Production" title="Platinum">Platinum</a></li>
<li><a href="/wiki/Lithium#Production" title="Lithium">Lithium</a></li>
<li><a href="/wiki/Rare-earth_element#Global_rare-earth_production" title="Rare-earth element">Rare-earth metals</a></li>
<li><a href="/wiki/Uranium_mining" title="Uranium mining">Uranium</a></li></ul></li>
<li>Other <a href="/wiki/Mineral" title="Mineral">minerals</a>
<ul><li><a href="/wiki/Gemstone" title="Gemstone">Gemstones</a></li>
<li><a href="/wiki/Phosphorus#Production" title="Phosphorus">Phosphorus</a></li>
<li><a href="/wiki/Potash#Production" title="Potash">Potash</a></li>
<li><a href="/wiki/Salt#Production" title="Salt">Salt</a></li>
<li><a href="/wiki/Sulfur#Production" title="Sulfur">Sulfur</a></li></ul></li>
<li><a href="/wiki/Quarry" title="Quarry">Quarrying</a>
<ul><li><a href="/wiki/Gravel_pit" title="Gravel pit">Gravel</a></li>
<li><a href="/wiki/Sand_mining" title="Sand mining">Sand</a></li>
<li><a href="/wiki/Chalk_mining" title="Chalk mining">Chalk</a></li>
<li><a href="/wiki/Clay_pit" title="Clay pit">Clay</a></li>
<li><a href="/wiki/Gypsum#Mining" title="Gypsum">Gypsum</a></li>
<li><a href="/wiki/Limestone#Uses" title="Limestone">Limestone</a></li>
<li><a href="/wiki/Dimension_stone#Production" title="Dimension stone">Dimension stone</a></li>
<li><a href="/wiki/Granite#Industry" title="Granite">Granite</a></li>
<li><a href="/wiki/Marble#Production" title="Marble">Marble</a></li></ul></li></ul>
</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><div id="Industrial_sector" style="font-size:114%;margin:0 4em"><a href="/wiki/Secondary_sector_of_the_economy" title="Secondary sector of the economy">Industrial sector</a></div></th></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Manufacturing" title="Manufacturing">Manufacturing</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Light_industry" title="Light industry">Light industry</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Food_industry" title="Food industry">Food</a>
<ul><li><a href="/wiki/Feed_manufacturing" title="Feed manufacturing">Animal feed</a></li>
<li><a href="/wiki/Baking#Commercial_baking" title="Baking">Baking</a></li>
<li><a href="/wiki/Canning" title="Canning">Canning</a></li>
<li><a href="/wiki/Dairy_product" title="Dairy product">Dairy products</a></li>
<li><a href="/wiki/Flour" title="Flour">Flour</a></li>
<li><a href="/wiki/Meat_industry" title="Meat industry">Meat</a></li>
<li><a href="/wiki/Convenience_food" title="Convenience food">Prepared</a></li>
<li><a href="/wiki/Food_preservation" title="Food preservation">Preserved</a></li>
<li><a href="/wiki/Candy_making" title="Candy making">Sweets</a></li>
<li><a href="/wiki/Vegetable_oil#Production" title="Vegetable oil">Vegetable oils</a></li></ul></li>
<li><a href="/wiki/Drink_industry" title="Drink industry">Beverages</a>
<ul><li><a class="mw-redirect" href="/wiki/Brewing_industry" title="Brewing industry">Beer</a></li>
<li><a href="/wiki/Bottled_water" title="Bottled water">Bottled water</a></li>
<li><a href="/wiki/Liquor" title="Liquor">Liquor</a></li>
<li><a href="/wiki/Soft_drink" title="Soft drink">Soft drinks</a></li>
<li><a href="/wiki/Winemaking" title="Winemaking">Wine</a></li></ul></li>
<li><a href="/wiki/Textile_industry" title="Textile industry">Textiles</a>
<ul><li><a href="/wiki/Carding" title="Carding">Carding</a></li>
<li><a href="/wiki/Dyeing" title="Dyeing">Dyeing</a></li>
<li><a href="/wiki/Textile_printing" title="Textile printing">Prints</a></li>
<li><a href="/wiki/Spinning_(textiles)" title="Spinning (textiles)">Spinning</a></li>
<li><a href="/wiki/Weaving" title="Weaving">Weaving</a></li>
<li><a href="/wiki/Carpet" title="Carpet">Carpets</a></li>
<li><a href="/wiki/Lace" title="Lace">Lace</a></li>
<li><a href="/wiki/Linens" title="Linens">Linens</a></li>
<li><a href="/wiki/Rope" title="Rope">Rope</a></li></ul></li>
<li><a href="/wiki/Clothing_industry" title="Clothing industry">Clothing</a>
<ul><li><a href="/wiki/Fashion_accessory" title="Fashion accessory">Accessories</a></li>
<li><a href="/wiki/Dressmaker" title="Dressmaker">Dressmaking</a></li>
<li><a href="/wiki/Fur_clothing" title="Fur clothing">Furs</a></li>
<li><a href="/wiki/Hatmaking" title="Hatmaking">Hatmaking</a></li>
<li><a href="/wiki/Sewing" title="Sewing">Sewing</a></li>
<li><a href="/wiki/Shoemaking" title="Shoemaking">Shoemaking</a></li>
<li><a href="/wiki/Tailor" title="Tailor">Tailoring</a></li></ul></li>
<li><a href="/wiki/Printing" title="Printing">Printing</a>
<ul><li><a href="/wiki/Bookbinding" title="Bookbinding">Bookbinding</a></li>
<li><a href="/wiki/Paper_embossing" title="Paper embossing">Embossing</a></li>
<li><a href="/wiki/Engraving" title="Engraving">Engraving</a></li>
<li><a href="/wiki/Security_printing" title="Security printing">Secure</a></li>
<li><a href="/wiki/Typesetting" title="Typesetting">Typesetting</a></li></ul></li>
<li>Media reproduction
<ul><li><a href="/wiki/Cassette_tape" title="Cassette tape">Cassette tapes</a></li>
<li><a href="/wiki/Production_of_phonograph_records" title="Production of phonograph records">Phonographs</a></li>
<li><a href="/wiki/Compact_Disc_manufacturing" title="Compact Disc manufacturing">Optical discs</a></li></ul></li>
<li><a href="/wiki/Metal_fabrication" title="Metal fabrication">Metal fabrication</a>
<ul><li><a class="mw-redirect" href="/wiki/Boilermaking" title="Boilermaking">Boilermaking</a></li>
<li><a href="/wiki/Builders_hardware" title="Builders hardware">Builders'</a> &amp; <a href="/wiki/Household_hardware" title="Household hardware">household hardware</a></li>
<li><a href="/wiki/Cutlery" title="Cutlery">Cutlery</a></li>
<li><a href="/wiki/Gunsmith" title="Gunsmith">Gunsmithing</a></li>
<li><a href="/wiki/Locksmithing" title="Locksmithing">Locksmithing</a></li>
<li><a href="/wiki/Machine_shop" title="Machine shop">Machining</a></li>
<li>Other <a href="/wiki/Metalsmith" title="Metalsmith">smithing</a></li>
<li><a href="/wiki/Powder_metallurgy" title="Powder metallurgy">Powder metallurgy</a></li>
<li><a href="/wiki/Prefabrication" title="Prefabrication">Prefabrication</a></li>
<li><a href="/wiki/Surface_finishing" title="Surface finishing">Surface finishing</a></li></ul></li>
<li>Other fabrication
<ul><li><a href="/wiki/3D_printing" title="3D printing">3D printing</a></li>
<li><a href="/wiki/Blow_molding" title="Blow molding">Blow molding</a></li>
<li><a href="/wiki/Drawing_(manufacturing)" title="Drawing (manufacturing)">Drawing</a></li>
<li><a href="/wiki/Extrusion" title="Extrusion">Extrusion</a></li>
<li><a href="/wiki/Glassblowing" title="Glassblowing">Glassblowing</a></li>
<li><a href="/wiki/Injection_moulding" title="Injection moulding">Injection moulding</a></li>
<li><a href="/wiki/Pottery" title="Pottery">Pottery</a></li>
<li><a href="/wiki/Sintering" title="Sintering">Sintering</a></li>
<li><a href="/wiki/Stonemasonry" title="Stonemasonry">Stonemasonry</a></li>
<li><a href="/wiki/Woodworking" title="Woodworking">Woodworking</a></li></ul></li>
<li><a href="/wiki/Furniture" title="Furniture">Furniture</a></li>
<li>Other goods
<ul><li><a href="/wiki/Baggage" title="Baggage">Baggage</a></li>
<li><a href="/wiki/Bicycle_industry" title="Bicycle industry">Bicycles</a></li>
<li><a href="/wiki/Jewellery" title="Jewellery">Jewellery</a></li>
<li><a href="/wiki/Medical_device" title="Medical device">Medical supplies</a></li>
<li><a href="/wiki/Musical_instrument" title="Musical instrument">Musical instruments</a></li>
<li><a href="/wiki/Office_supplies" title="Office supplies">Office supplies</a></li>
<li>Outdoors &amp; <a href="/wiki/Sports_equipment" title="Sports equipment">sports equipment</a></li>
<li><a href="/wiki/Personal_protective_equipment" title="Personal protective equipment">Personal protective equipment</a></li>
<li><a href="/wiki/Toy#Economics" title="Toy">Toys</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Electrical <br/> &amp; optical</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Electronics_industry" title="Electronics industry">Electronics</a>
<ul><li><a href="/wiki/Electronic_component" title="Electronic component">Components</a></li>
<li><a href="/wiki/Printed_circuit_board#Manufacturing" title="Printed circuit board">Circuit boards</a></li>
<li><a href="/wiki/Semiconductor_industry" title="Semiconductor industry">Semiconductors</a></li></ul></li>
<li><a class="mw-redirect" href="/wiki/Computer_industry" title="Computer industry">Computers</a>
<ul><li><a href="/wiki/List_of_computer_system_manufacturers" title="List of computer system manufacturers">Computer systems</a></li>
<li><a href="/wiki/List_of_computer_hardware_manufacturers" title="List of computer hardware manufacturers">Parts &amp; peripherals</a></li>
<li>Blank <a href="/wiki/Computer_data_storage#Storage_media" title="Computer data storage">storage media</a></li></ul></li>
<li><a href="/wiki/Telecommunications_equipment" title="Telecommunications equipment">Communications equipment</a>
<ul><li><a href="/wiki/Mobile_phone#Sales" title="Mobile phone">Mobile phones</a></li>
<li><a href="/wiki/Network_equipment_provider" title="Network equipment provider">Network infrastructure</a></li></ul></li>
<li><a href="/wiki/Consumer_electronics#Products" title="Consumer electronics">Consumer electronics</a>
<ul><li><a href="/wiki/Television_set#Major_manufacturers" title="Television set">Televisions</a></li>
<li><a href="/wiki/Video_game_console#Market" title="Video game console">Video game consoles</a></li></ul></li>
<li><a href="/wiki/Instrumentation" title="Instrumentation">Instrumentation</a>
<ul><li><a href="/wiki/Clockmaker" title="Clockmaker">Clocks</a> &amp; <a href="/wiki/Watchmaker" title="Watchmaker">watches</a></li>
<li><a href="/wiki/Satellite_navigation_device#Consumer_applications" title="Satellite navigation device">GPS devices</a></li>
<li><a href="/wiki/Scientific_instrument#List_of_scientific_instruments_manufacturers" title="Scientific instrument">Scientific instruments</a></li></ul></li>
<li><a href="/wiki/Medical_imaging#Industry" title="Medical imaging">Medical imaging systems</a></li>
<li><a href="/wiki/Optical_instrument" title="Optical instrument">Optical instruments</a>
<ul><li><a href="/wiki/Camera" title="Camera">Cameras</a></li>
<li><a href="/wiki/Telescopic_sight" title="Telescopic sight">Gun</a> &amp; <a href="/wiki/Spotting_scope" title="Spotting scope">spotting scopes</a></li>
<li><a href="/wiki/Laser_construction" title="Laser construction">Laser construction</a></li>
<li><a class="mw-redirect" href="/wiki/Fabrication_and_testing_of_optical_components" title="Fabrication and testing of optical components">Lens grinding</a></li>
<li><a href="/wiki/Microscope" title="Microscope">Microscopes</a></li>
<li><a href="/wiki/Telescope" title="Telescope">Telescopes</a></li></ul></li>
<li><a href="/wiki/Electrical_equipment" title="Electrical equipment">Electrical equipment</a>
<ul><li><a class="mw-redirect" href="/wiki/Battery_industry" title="Battery industry">Batteries</a></li>
<li><a href="/wiki/Electrical_cable" title="Electrical cable">Electrical</a> &amp; <a href="/wiki/Optical_fiber" title="Optical fiber">fiber optic</a> cables</li>
<li><a href="/wiki/Electric_light" title="Electric light">Electric lighting</a></li>
<li><a href="/wiki/Electric_motor" title="Electric motor">Electric motors</a></li>
<li><a href="/wiki/Home_appliance" title="Home appliance">Home appliances</a></li>
<li><a href="/wiki/Transformer" title="Transformer">Transformers</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Chemical_industry" title="Chemical industry">Chemicals</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li>Coal &amp; <a href="/wiki/Oil_refinery" title="Oil refinery">oil refining</a>
<ul><li><a href="/wiki/Coke_(fuel)" title="Coke (fuel)">Coke</a></li>
<li><a href="/wiki/Diesel_fuel" title="Diesel fuel">Diesel fuel</a></li>
<li><a href="/wiki/Fuel_oil" title="Fuel oil">Fuel oil</a></li>
<li><a href="/wiki/Gasoline" title="Gasoline">Gasoline</a></li>
<li><a href="/wiki/Jet_fuel" title="Jet fuel">Jet fuel</a></li>
<li><a href="/wiki/Kerosene" title="Kerosene">Kerosene</a></li>
<li><a href="/wiki/Propane" title="Propane">Propane</a></li>
<li><a href="/wiki/Mineral_oil" title="Mineral oil">Mineral oil</a></li>
<li><a href="/wiki/Paraffin_wax" title="Paraffin wax">Paraffin wax</a></li>
<li><a href="/wiki/Petrochemical" title="Petrochemical">Petrochemicals</a></li>
<li><a href="/wiki/Petroleum_jelly" title="Petroleum jelly">Petroleum jelly</a></li>
<li><a href="/wiki/Synthetic_oil" title="Synthetic oil">Synthetic oil</a></li>
<li><a href="/wiki/Asphalt" title="Asphalt">Asphalt</a></li>
<li><a href="/wiki/Tar" title="Tar">Tar</a></li></ul></li>
<li><a href="/wiki/Commodity_chemicals" title="Commodity chemicals">Commodity chemicals</a>
<ul><li><a href="/wiki/Fertilizer#Production" title="Fertilizer">Fertilizers</a></li>
<li><a href="/wiki/Industrial_gas" title="Industrial gas">Industrial gases</a></li>
<li><a href="/wiki/Pigment" title="Pigment">Pigments</a></li>
<li><a class="mw-redirect" href="/wiki/Pure_element" title="Pure element">Pure elements</a></li></ul></li>
<li><a href="/wiki/Speciality_chemicals" title="Speciality chemicals">Speciality chemicals</a>
<ul><li><a href="/wiki/Adhesive" title="Adhesive">Adhesives</a></li>
<li><a href="/wiki/Agrochemical" title="Agrochemical">Agrochemicals</a></li>
<li><a href="/wiki/Aroma_compound" title="Aroma compound">Aroma compounds</a></li>
<li><a class="mw-redirect" href="/wiki/Cleaning_product" title="Cleaning product">Cleaning products</a></li>
<li><a href="/wiki/Cosmetics" title="Cosmetics">Cosmetics</a></li>
<li><a href="/wiki/Explosive" title="Explosive">Explosives</a></li>
<li><a href="/wiki/Fireworks" title="Fireworks">Fireworks</a></li>
<li><a href="/wiki/Paint" title="Paint">Paints</a> &amp; <a href="/wiki/Ink" title="Ink">inks</a></li>
<li><a href="/wiki/Perfume" title="Perfume">Perfumes</a></li>
<li><a href="/wiki/Soap" title="Soap">Soap</a></li>
<li><a class="mw-redirect" href="/wiki/Toiletries" title="Toiletries">Toiletries</a></li></ul></li>
<li><a href="/wiki/Fine_chemical" title="Fine chemical">Fine chemicals</a></li>
<li><a href="/wiki/Pharmaceutical_industry" title="Pharmaceutical industry">Pharmaceuticals</a>
<ul><li><a href="/wiki/Production_of_antibiotics" title="Production of antibiotics">Antibiotics</a></li>
<li><a href="/wiki/Blood_product" title="Blood product">Blood products</a></li>
<li>Chemical &amp; hormonal <a href="/wiki/Birth_control" title="Birth control">contraceptives</a></li>
<li><a href="/wiki/Generic_drug" title="Generic drug">Generic drugs</a></li>
<li><a href="/wiki/Illegal_drug_trade" title="Illegal drug trade">Illegal drugs</a></li>
<li><a href="/wiki/Dietary_supplement" title="Dietary supplement">Supplements</a></li>
<li><a href="/wiki/Vaccine" title="Vaccine">Vaccines</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Materials</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Leather" title="Leather">Leather</a>
<ul><li><a href="/wiki/Liming_(leather_processing)" title="Liming (leather processing)">Liming</a> &amp; <a href="/wiki/Deliming" title="Deliming">deliming</a></li>
<li><a href="/wiki/Tanning_(leather)" title="Tanning (leather)">Tanning</a></li>
<li><a href="/wiki/Currier" title="Currier">Currying</a> &amp; <a href="/wiki/Oiling_(leather_processing)" title="Oiling (leather processing)">oiling</a></li></ul></li>
<li><a href="/wiki/Wood_industry" title="Wood industry">Wood</a>
<ul><li><a href="/wiki/Wood_drying" title="Wood drying">Drying</a></li>
<li><a href="/wiki/Sawmill" title="Sawmill">Sawmilling</a></li>
<li><a href="/wiki/Engineered_wood" title="Engineered wood">Engineered</a></li>
<li><a href="/wiki/Lumber" title="Lumber">Lumber</a></li>
<li><a href="/wiki/Wood-plastic_composite" title="Wood-plastic composite">Composite</a></li></ul></li>
<li><a href="/wiki/Pulp_and_paper_industry" title="Pulp and paper industry">Paper</a>
<ul><li><a href="/wiki/Sizing#Papermaking" title="Sizing">Sizing</a></li>
<li><a href="/wiki/Cardboard" title="Cardboard">Cardboard</a></li>
<li><a href="/wiki/Pulp_(paper)" title="Pulp (paper)">Pulp</a></li>
<li><a href="/wiki/Tissue_paper" title="Tissue paper">Tissue</a></li></ul></li>
<li><a href="/wiki/Synthetic_rubber" title="Synthetic rubber">Rubber</a>
<ul><li><a href="/wiki/Tire_manufacturing" title="Tire manufacturing">Tires</a></li>
<li><a href="/wiki/Vulcanization" title="Vulcanization">Vulcanized rubber</a></li></ul></li>
<li><a href="/wiki/Plastics_industry" title="Plastics industry">Plastics</a>
<ul><li><a href="/wiki/Commodity_plastics" title="Commodity plastics">Commodity</a></li>
<li><a href="/wiki/Engineering_plastic" title="Engineering plastic">Engineered</a></li>
<li><a href="/wiki/High-performance_plastics" title="High-performance plastics">Specialty</a></li>
<li><a href="/wiki/Pelletizing" title="Pelletizing">Pellets</a></li>
<li><a href="/wiki/Synthetic_fiber" title="Synthetic fiber">Synthetic fibers</a></li>
<li><a href="/wiki/Thermoplastic" title="Thermoplastic">Thermoplastics</a> &amp; <a href="/wiki/Thermosetting_polymer" title="Thermosetting polymer">thermosets</a></li></ul></li>
<li><a href="/wiki/Glass_production" title="Glass production">Glass</a>
<ul><li><a href="/wiki/Borosilicate_glass" title="Borosilicate glass">Borosilicate</a></li>
<li><a href="/wiki/Fused_quartz" title="Fused quartz">Fused quartz</a></li>
<li><a href="/wiki/Soda%E2%80%93lime_glass" title="Soda–lime glass">Soda-lime</a></li>
<li><a href="/wiki/Float_glass" title="Float glass">Float glass</a></li>
<li><a href="/wiki/Glass_fiber" title="Glass fiber">Glass fiber</a></li>
<li><a href="/wiki/Glass_wool" title="Glass wool">Glass wool</a> &amp; <a href="/wiki/Fiberglass" title="Fiberglass">fiberglass</a></li>
<li><a href="/wiki/Safety_glass" title="Safety glass">Safety glass</a></li></ul></li>
<li><a href="/wiki/Ceramic" title="Ceramic">Ceramics</a>
<ul><li><a href="/wiki/Brickworks" title="Brickworks">Brick</a></li>
<li><a href="/wiki/Earthenware" title="Earthenware">Earthenware</a></li>
<li><a href="/wiki/Porcelain#Other_uses" title="Porcelain">Porcelain</a></li>
<li><a href="/wiki/Refractory" title="Refractory">Refractory</a></li>
<li><a href="/wiki/Tile" title="Tile">Tile</a></li></ul></li>
<li><a class="mw-redirect" href="/wiki/Cement_industry" title="Cement industry">Cement</a>
<ul><li><a href="/wiki/Mortar_(masonry)" title="Mortar (masonry)">Mortar</a></li>
<li><a href="/wiki/Plaster" title="Plaster">Plaster</a></li>
<li><a href="/wiki/Ready-mix_concrete" title="Ready-mix concrete">Ready-mix concrete</a></li></ul></li>
<li>Other mineral
<ul><li><a href="/wiki/Abrasive" title="Abrasive">Abrasives</a></li>
<li><a href="/wiki/Carbon_fibers" title="Carbon fibers">Carbon fibers</a> &amp; <a href="/wiki/Allotropes_of_carbon" title="Allotropes of carbon">advanced materials</a></li>
<li><a href="/wiki/Mineral_wool" title="Mineral wool">Mineral wool</a></li>
<li><a class="mw-redirect" href="/wiki/Synthetic_gem" title="Synthetic gem">Synthetic gems</a></li></ul></li>
<li><a href="/wiki/Extractive_metallurgy" title="Extractive metallurgy">Metal refining</a>
<ul><li><a href="/wiki/Ironworks" title="Ironworks">Iron</a></li>
<li><a href="/wiki/Aluminium_smelting" title="Aluminium smelting">Aluminum</a></li>
<li><a href="/wiki/Copper_extraction" title="Copper extraction">Copper</a></li></ul></li>
<li><a href="/wiki/Alloy" title="Alloy">Alloys</a>
<ul><li><a href="/wiki/Steel_mill" title="Steel mill">Steel</a></li></ul></li>
<li><a href="/wiki/Forming_(metalworking)" title="Forming (metalworking)">Formed metal</a>
<ul><li><a href="/wiki/Rolling_(metalworking)" title="Rolling (metalworking)">Rolled</a></li>
<li><a href="/wiki/Forging" title="Forging">Forged</a></li></ul></li>
<li><a href="/wiki/Foundry" title="Foundry">Cast metal</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Heavy_industry" title="Heavy industry">Heavy industry</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Machine_industry" title="Machine industry">Machinery</a>
<ul><li><a href="/wiki/Conveyor_system" title="Conveyor system">Conveyors</a></li>
<li><a href="/wiki/Heavy_equipment" title="Heavy equipment">Heavy</a></li>
<li><a href="/wiki/Hydraulic_machinery" title="Hydraulic machinery">Hydraulic</a></li>
<li><a href="/wiki/Machine_tool_builder" title="Machine tool builder">Machine tools</a></li>
<li><a href="/wiki/Turbo_generator" title="Turbo generator">Power</a> &amp; <a href="/wiki/Wind_turbine" title="Wind turbine">wind turbines</a></li></ul></li>
<li><a href="/wiki/Automotive_industry" title="Automotive industry">Automobiles</a></li>
<li>Other heavy <a href="/wiki/Vehicle" title="Vehicle">vehicles</a>
<ul><li><a class="mw-redirect" href="/wiki/Aerospace_industry" title="Aerospace industry">Aerospace</a> &amp; <a href="/wiki/Space_industry" title="Space industry">space</a></li>
<li><a href="/wiki/Rolling_stock" title="Rolling stock">Rail vehicles</a></li>
<li><a href="/wiki/Shipbuilding" title="Shipbuilding">Ships</a> &amp; <a href="/wiki/Oil_platform" title="Oil platform">offshore platforms</a></li></ul></li>
<li><a href="/wiki/Arms_industry" title="Arms industry">Weapons</a></li></ul>
</div></td></tr></tbody></table><div></div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Public_utility" title="Public utility">Utilities</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li>Power
<ul><li><a href="/wiki/Electric_power_industry" title="Electric power industry">Electric</a></li>
<li><a href="/wiki/Natural_gas#Domestic_use" title="Natural gas">Gas distribution</a></li>
<li><a href="/wiki/Renewable_energy_commercialization" title="Renewable energy commercialization">Renewable</a></li></ul></li>
<li><a href="/wiki/Water_industry" title="Water industry">Water</a>
<ul><li><a href="/wiki/Sewage_treatment" title="Sewage treatment">Sewage</a></li></ul></li>
<li><a href="/wiki/Waste_management_industry" title="Waste management industry">Waste management</a>
<ul><li><a href="/wiki/Waste_collection" title="Waste collection">Collection</a></li>
<li><a href="/wiki/Landfill" title="Landfill">Dumping</a></li>
<li><a href="/wiki/Hazardous_waste" title="Hazardous waste">Hazardous</a></li>
<li><a href="/wiki/Recycling" title="Recycling">Recycling</a></li></ul></li>
<li><a href="/wiki/Environmental_remediation" title="Environmental remediation">Remediation</a></li>
<li><a href="/wiki/Telecommunications_industry" title="Telecommunications industry">Telecom networks</a>
<ul><li><a href="/wiki/Cable_television" title="Cable television">Cable TV</a></li>
<li><a href="/wiki/Internet_service_provider" title="Internet service provider">Internet</a></li>
<li><a href="/wiki/Mobile_phone_operator" title="Mobile phone operator">Mobile</a></li>
<li><a href="/wiki/Communications_satellite" title="Communications satellite">Satellite</a></li>
<li><a href="/wiki/Telephone_company" title="Telephone company">Telephone</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Construction" title="Construction">Construction</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Building" title="Building">Buildings</a>
<ul><li><a href="/wiki/Commercial_property" title="Commercial property">Commercial</a></li>
<li><a href="/wiki/Industrial_architecture" title="Industrial architecture">Industrial</a></li>
<li><a href="/wiki/Home_construction" title="Home construction">Residential</a></li></ul></li>
<li><a href="/wiki/Civil_engineering" title="Civil engineering">Civil engineering</a>
<ul><li><a class="mw-redirect" href="/wiki/Bridge_building" title="Bridge building">Bridges</a></li>
<li><a href="/wiki/Track_(rail_transport)" title="Track (rail transport)">Railways</a></li>
<li><a class="mw-redirect" href="/wiki/Roadbuilding" title="Roadbuilding">Roads</a></li>
<li><a href="/wiki/Tunnel#Construction" title="Tunnel">Tunnels</a></li>
<li><a href="/wiki/Canal#Construction" title="Canal">Canals</a></li>
<li><a href="/wiki/Dam" title="Dam">Dams</a></li>
<li><a href="/wiki/Dredging#Major_dredging_companies" title="Dredging">Dredging</a></li>
<li><a href="/wiki/Harbor" title="Harbor">Harbors</a></li></ul></li>
<li>Specialty trades
<ul><li><a href="/wiki/Cabinetry" title="Cabinetry">Cabinetry</a></li>
<li><a href="/wiki/Demolition" title="Demolition">Demolition</a></li>
<li><a href="/wiki/Electrical_wiring" title="Electrical wiring">Electrical wiring</a></li>
<li><a href="/wiki/Elevator_mechanic" title="Elevator mechanic">Elevators</a></li>
<li><a href="/wiki/Heating,_ventilation,_and_air_conditioning#HVAC_industry_and_standards" title="Heating, ventilation, and air conditioning">HVAC</a></li>
<li><a href="/wiki/House_painter_and_decorator" title="House painter and decorator">Painting and decorating</a></li>
<li><a href="/wiki/Plumbing" title="Plumbing">Plumbing</a></li>
<li><a href="/wiki/Earthworks_(engineering)" title="Earthworks (engineering)">Site preparation</a></li></ul></li></ul>
</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><div id="Service_sector" style="font-size:114%;margin:0 4em"><a href="/wiki/Tertiary_sector_of_the_economy" title="Tertiary sector of the economy">Service sector</a></div></th></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Sales" title="Sales">Sales</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Retail" title="Retail">Retail</a>
<ul><li><a href="/wiki/Car_dealership" title="Car dealership">Car dealership</a></li>
<li><a href="/wiki/Fast-moving_consumer_goods" title="Fast-moving consumer goods">Consumer goods</a></li>
<li><a href="/wiki/General_store" title="General store">General store</a></li>
<li><a href="/wiki/Grocery_store" title="Grocery store">Grocery store</a></li>
<li><a href="/wiki/Department_store" title="Department store">Department store</a></li>
<li><a href="/wiki/Mail_order" title="Mail order">Mail order</a></li>
<li><a href="/wiki/Online_shopping" title="Online shopping">Online shopping</a></li>
<li><a href="/wiki/Specialty_store" title="Specialty store">Specialty store</a></li></ul></li>
<li><a href="/wiki/Wholesaling" title="Wholesaling">Wholesale</a>
<ul><li><a href="/wiki/Auction" title="Auction">Auction</a></li>
<li><a href="/wiki/Broker" title="Broker">Brokerage</a></li>
<li><a href="/wiki/Distribution_(marketing)" title="Distribution (marketing)">Distribution</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Transport" title="Transport">Transport</a> <br/> &amp; Storage</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Cargo" title="Cargo">Cargo</a>
<ul><li><a href="/wiki/Air_cargo" title="Air cargo">Air cargo</a></li>
<li><a href="/wiki/Intermodal_freight_transport" title="Intermodal freight transport">Intermodal</a></li>
<li><a href="/wiki/Mail" title="Mail">Mail</a></li>
<li><a href="/wiki/Moving_company" title="Moving company">Moving company</a></li>
<li><a href="/wiki/Rail_freight_transport" title="Rail freight transport">Rail</a></li>
<li><a class="mw-redirect" href="/wiki/Trucking" title="Trucking">Trucking</a></li></ul></li>
<li><a class="mw-redirect" href="/wiki/Passenger_transport" title="Passenger transport">Passenger transport</a>
<ul><li><a href="/wiki/Airline" title="Airline">Airlines</a></li>
<li><a href="/wiki/Car_rental" title="Car rental">Car rentals</a></li>
<li><a class="mw-redirect" href="/wiki/Passenger_rail" title="Passenger rail">Passenger rail</a></li>
<li><a href="/wiki/Ridesharing_company" title="Ridesharing company">Ridesharing</a></li>
<li><a class="mw-redirect" href="/wiki/Taxicab" title="Taxicab">Taxicabs</a></li></ul></li>
<li><a href="/wiki/Warehouse" title="Warehouse">Warehousing</a>
<ul><li><a href="/wiki/Self_storage" title="Self storage">Self storage</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Hospitality_industry" title="Hospitality industry">Hospitality</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Foodservice" title="Foodservice">Foodservice</a>
<ul><li><a href="/wiki/Drinking_establishment" title="Drinking establishment">Drink service</a></li>
<li><a href="/wiki/Catering" title="Catering">Catering</a></li>
<li><a class="mw-redirect" href="/wiki/Caf%C3%A9" title="Café">Cafés</a></li>
<li><a href="/wiki/Fast_food" title="Fast food">Fast food</a></li>
<li><a href="/wiki/Food_delivery" title="Food delivery">Food delivery</a></li>
<li><a href="/wiki/Restaurant" title="Restaurant">Restaurants</a></li>
<li><a href="/wiki/Teahouse" title="Teahouse">Teahouses</a></li></ul></li>
<li><a href="/wiki/Hotel" title="Hotel">Hotels</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Asset_management" title="Asset management">Asset management</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Financial_services" title="Financial services">Financial services</a>
<ul><li><a href="/wiki/Bank" title="Bank">Banking</a></li>
<li><a href="/wiki/Credit" title="Credit">Credit</a></li>
<li><a href="/wiki/Financial_adviser" title="Financial adviser">Financial advice</a></li>
<li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li>
<li><a href="/wiki/Lease" title="Lease">Leasing</a></li>
<li><a href="/wiki/Electronic_funds_transfer" title="Electronic funds transfer">Money transfer</a></li>
<li><a href="/wiki/Payment_card_industry" title="Payment card industry">Payment cards</a></li>
<li><a href="/wiki/Risk_management" title="Risk management">Risk management</a></li>
<li><a href="/wiki/Security_(finance)" title="Security (finance)">Securities</a></li></ul></li>
<li><a class="mw-selflink selflink">Insurance</a>
<ul><li><a href="/wiki/Health_insurance" title="Health insurance">Health insurance</a></li>
<li><a href="/wiki/Life_insurance" title="Life insurance">Life insurance</a></li>
<li><a href="/wiki/Pension_fund" title="Pension fund">Pension funding</a></li>
<li><a href="/wiki/Property_insurance" title="Property insurance">Property insurance</a></li>
<li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a></li></ul></li>
<li><a href="/wiki/Real_estate_economics" title="Real estate economics">Real estate</a>
<ul><li><a class="new" href="/w/index.php?title=House_rental&amp;action=edit&amp;redlink=1" title="House rental (page does not exist)">House rental</a></li>
<li><a href="/wiki/Property_management" title="Property management">Property management</a></li>
<li><a class="mw-redirect" href="/wiki/Real_estate_broker" title="Real estate broker">Real estate brokerage</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Professional_services" title="Professional services">Professional</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Accounting_network" title="Accounting network">Accounting</a>
<ul><li><a href="/wiki/Assurance_services" title="Assurance services">Assurance</a></li>
<li><a href="/wiki/Audit" title="Audit">Audit</a></li>
<li><a href="/wiki/Bookkeeping" title="Bookkeeping">Bookkeeping</a></li>
<li><a href="/wiki/Tax_advisor" title="Tax advisor">Tax advice</a></li></ul></li>
<li><a href="/wiki/Architectural_firm" title="Architectural firm">Architecture</a> &amp; <a href="/wiki/Engineering" title="Engineering">engineering</a>
<ul><li><a href="/wiki/Inspection" title="Inspection">Inspection</a></li>
<li><a href="/wiki/Surveying" title="Surveying">Surveying</a></li>
<li><a href="/wiki/Physical_test" title="Physical test">Physical</a>, <a href="/wiki/Product_testing" title="Product testing">product</a>, &amp; <a href="/wiki/System_testing" title="System testing">system testing</a></li></ul></li>
<li><a href="/wiki/Design" title="Design">Design</a>
<ul><li><a href="/wiki/Fashion_design" title="Fashion design">Fashion</a></li>
<li><a href="/wiki/Interior_design" title="Interior design">Interior</a></li>
<li><a href="/wiki/Industrial_design" title="Industrial design">Product</a></li></ul></li>
<li><a href="/wiki/Practice_of_law" title="Practice of law">Legal services</a></li>
<li><a href="/wiki/Management" title="Management">Management</a>
<ul><li><a href="/wiki/Consulting_firm" title="Consulting firm">Consulting</a></li>
<li><a href="/wiki/Public_relations" title="Public relations">Public relations</a></li></ul></li>
<li><a href="/wiki/Marketing" title="Marketing">Marketing</a>
<ul><li><a href="/wiki/Advertising_industry" title="Advertising industry">Advertising</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Healthcare_industry" title="Healthcare industry">Healthcare</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li>Medicine
<ul><li><a class="mw-redirect" href="/wiki/Dentist_office" title="Dentist office">Dentist offices</a></li>
<li><a href="/wiki/Hospital" title="Hospital">Hospitals</a></li>
<li><a href="/wiki/Nursing" title="Nursing">Nursing</a></li></ul></li>
<li><a href="/wiki/Residential_care" title="Residential care">Residential care</a></li>
<li><a href="/wiki/Veterinary_medicine" title="Veterinary medicine">Veterinary medicine</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Entertainment#Industry" title="Entertainment">Entertainment</a><br/>            &amp; <a href="/wiki/Leisure_industry" title="Leisure industry">leisure</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Casino" title="Casino">Gambling</a>
<ul><li><a href="/wiki/Online_gambling" title="Online gambling">Online</a></li></ul></li>
<li><a href="/wiki/Sport_industry" title="Sport industry">Sport</a></li>
<li>Venues
<ul><li><a href="/wiki/Amusement_arcade" title="Amusement arcade">Arcades</a></li>
<li><a href="/wiki/Amusement_park" title="Amusement park">Amusement parks</a></li>
<li><a href="/wiki/Fair" title="Fair">Fairgrounds</a></li>
<li><a href="/wiki/Nightclub" title="Nightclub">Nightclubs</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Other</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li>Administrative
<ul><li><a href="/wiki/Customer_service" title="Customer service">Customer service</a></li>
<li><a href="/wiki/Renting" title="Renting">Renting</a></li>
<li><a href="/wiki/Employment_agency" title="Employment agency">Staffing</a></li>
<li><a href="/wiki/Private_investigator" title="Private investigator">Private investigation</a> &amp; <a href="/wiki/Security_company" title="Security company">security</a></li></ul></li>
<li>Maintenance
<ul><li><a href="/wiki/Janitor" title="Janitor">Janitors</a></li>
<li><a href="/wiki/Landscape_maintenance" title="Landscape maintenance">Landscaping</a></li></ul></li>
<li><a href="/wiki/Maintenance_(technical)" title="Maintenance (technical)">Repairs</a></li>
<li>Personal services
<ul><li><a href="/wiki/Beauty_salon" title="Beauty salon">Beauty</a></li>
<li><a href="/wiki/Dry_cleaning" title="Dry cleaning">Dry cleaning</a></li>
<li><a class="mw-redirect" href="/wiki/Funeral_industry" title="Funeral industry">Funeral</a></li>
<li><a href="/wiki/Maid_service" title="Maid service">Maid service</a></li>
<li><a href="/wiki/Pet_industry" title="Pet industry">Pet care</a></li>
<li><a href="/wiki/Sex_industry" title="Sex industry">Sex</a></li></ul></li>
<li><a href="/wiki/Poverty_industry" title="Poverty industry">Poverty</a></li>
<li>Travel
<ul><li><a href="/wiki/Business_travel" title="Business travel">Business travel</a></li>
<li><a href="/wiki/Cruise_line" title="Cruise line">Cruise lines</a></li>
<li><a href="/wiki/Tourism" title="Tourism">Tourism</a></li></ul></li></ul>
</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><div id="Information_sector" style="font-size:114%;margin:0 4em"><a href="/wiki/Quaternary_sector_of_the_economy" title="Quaternary sector of the economy">Information sector</a></div></th></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Publishing" title="Publishing">Publishing</a> <br/> &amp; <a href="/wiki/Mass_media" title="Mass media">Mass media</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li>Written
<ul><li><a href="/wiki/Book" title="Book">Books</a></li>
<li><a href="/wiki/Periodical_literature" title="Periodical literature">Periodicals</a></li>
<li><a href="/wiki/Software_industry" title="Software industry">Software</a></li></ul></li>
<li>Audio-visual
<ul><li><a href="/wiki/Film_industry" title="Film industry">Film</a></li>
<li><a href="/wiki/Music_industry" title="Music industry">Music</a></li>
<li><a href="/wiki/Video_game_industry" title="Video game industry">Video games</a></li></ul></li>
<li><a href="/wiki/Broadcasting" title="Broadcasting">Broadcasting</a>
<ul><li><a href="/wiki/News_agency" title="News agency">News</a></li>
<li><a href="/wiki/Radio_industry" title="Radio industry">Radio</a></li>
<li><a href="/wiki/Television#Content" title="Television">Television</a></li></ul></li>
<li><a href="/wiki/Internet" title="Internet">Internet</a>
<ul><li><a href="/wiki/Web_hosting_service" title="Web hosting service">Hosting</a></li>
<li><a href="/wiki/Social_networking_service" title="Social networking service">Social networks</a></li>
<li><a href="/wiki/Streaming_media" title="Streaming media">Streaming</a></li>
<li><a href="/wiki/Website" title="Website">Websites</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Education_economics" title="Education economics">Education</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Primary_education" title="Primary education">Primary</a></li>
<li><a href="/wiki/Secondary_education" title="Secondary education">Secondary</a></li>
<li><a href="/wiki/Tertiary_education" title="Tertiary education">Tertiary</a>
<ul><li><a href="/wiki/Vocational_school" title="Vocational school">Vocational school</a></li>
<li><a href="/wiki/University" title="University">University</a></li></ul></li>
<li><a href="/wiki/Standardized_test" title="Standardized test">Testing</a></li>
<li><a class="mw-redirect" href="/wiki/Tutor" title="Tutor">Tutoring</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Other</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Creative_industries" title="Creative industries">Creative</a></li>
<li><a href="/wiki/Language_industry" title="Language industry">Language</a></li>
<li><a href="/wiki/Research_and_development" title="Research and development">Research and development</a>
<ul><li><a href="/wiki/Basic_research" title="Basic research">Basic research</a></li></ul></li></ul>
</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><div id="Related" style="font-size:114%;margin:0 4em">Related</div></th></tr><tr><td class="navbox-list navbox-odd" colspan="2" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Industry_classification" title="Industry classification">Classification <br/> standards</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li>Production-based
<ul><li><a href="/wiki/Australian_and_New_Zealand_Standard_Industrial_Classification" title="Australian and New Zealand Standard Industrial Classification">ANZSIC</a></li>
<li><i><b><a href="/wiki/International_Standard_Industrial_Classification" title="International Standard Industrial Classification">ISIC</a></b></i></li>
<li><a href="/wiki/Statistical_Classification_of_Economic_Activities_in_the_European_Community" title="Statistical Classification of Economic Activities in the European Community">NACE</a></li>
<li><a href="/wiki/North_American_Industry_Classification_System" title="North American Industry Classification System">NAICS</a></li>
<li><a href="/wiki/Standard_Industrial_Classification" title="Standard Industrial Classification">SIC</a></li>
<li><a href="/wiki/United_Kingdom_Standard_Industrial_Classification_of_Economic_Activities" title="United Kingdom Standard Industrial Classification of Economic Activities">UKSIC</a></li></ul></li>
<li>Market-based
<ul><li><a href="/wiki/Global_Industry_Classification_Standard" title="Global Industry Classification Standard">GICS</a></li>
<li><a href="/wiki/Industry_Classification_Benchmark" title="Industry Classification Benchmark">ICB</a></li>
<li><a href="/wiki/The_Refinitiv_Business_Classification" title="The Refinitiv Business Classification">TRBC</a></li></ul></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Factors_of_production" title="Factors of production">Inputs</a> <br/> &amp; <a href="/wiki/Output_(economics)" title="Output (economics)">outputs</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a href="/wiki/Externality" title="Externality">Externalities</a>
<ul><li><a href="/wiki/Community" title="Community">Community</a></li>
<li><a href="/wiki/Crime" title="Crime">Crime</a></li>
<li><a href="/wiki/Culture" title="Culture">Culture</a></li>
<li><a href="/wiki/Pollution" title="Pollution">Pollution</a></li>
<li><a href="/wiki/Well-being" title="Well-being">Well-being</a></li></ul></li>
<li><a href="/wiki/Funding" title="Funding">Funding</a></li>
<li><a href="/wiki/Goods" title="Goods">Goods</a>
<ul><li><a href="/wiki/Commodity" title="Commodity">Commodities</a></li>
<li><a href="/wiki/Final_good" title="Final good">Final</a></li>
<li><a href="/wiki/Intermediate_good" title="Intermediate good">Intermediate</a></li>
<li><a href="/wiki/Raw_material" title="Raw material">Raw material</a></li></ul></li>
<li><a href="/wiki/Innovation" title="Innovation">Innovation</a></li>
<li>Primary inputs
<ul><li><a href="/wiki/Work_(human_activity)" title="Work (human activity)">Labor</a></li>
<li><a href="/wiki/Natural_resource" title="Natural resource">Natural resources</a></li>
<li><a href="/wiki/Physical_capital" title="Physical capital">Physical capital</a></li></ul></li>
<li><a href="/wiki/Service_(economics)" title="Service (economics)">Services</a></li>
<li><a href="/wiki/Technology" title="Technology">Technology</a></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%"><a href="/wiki/Organization" title="Organization">Organization</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><a class="mw-redirect" href="/wiki/Centralization" title="Centralization">Centralization</a>
<ul><li><a href="/wiki/Cartel" title="Cartel">Cartel</a></li>
<li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li>
<li><a href="/wiki/Horizontal_integration" title="Horizontal integration">Horizontal integration</a></li>
<li><a href="/wiki/Mergers_and_acquisitions" title="Mergers and acquisitions">Mergers and acquisitions</a></li>
<li><a href="/wiki/Monopoly" title="Monopoly">Monopoly</a></li>
<li><a href="/wiki/Monopsony" title="Monopsony">Monopsony</a></li>
<li><a href="/wiki/Vertical_integration" title="Vertical integration">Vertical integration</a></li></ul></li>
<li><a href="/wiki/Decentralization" title="Decentralization">Decentralization</a>
<ul><li><a href="/wiki/Competition_law" title="Competition law">Enforced breakup</a></li>
<li><a href="/wiki/Freelancer" title="Freelancer">Freelancing</a></li>
<li><a href="/wiki/Homesteading" title="Homesteading">Homesteading</a></li>
<li><a href="/wiki/Outsourcing" title="Outsourcing">Outsourcing</a></li>
<li><a href="/wiki/Putting-out_system" title="Putting-out system">Putting-out system</a></li>
<li><a href="/wiki/Corporate_spin-off" title="Corporate spin-off">Spinning-off</a></li>
<li><a href="/wiki/Temporary_work" title="Temporary work">Temporary work</a></li></ul></li>
<li><a href="/wiki/Ownership" title="Ownership">Ownership</a>
<ul><li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li>
<li><a href="/wiki/Joint-stock_company" title="Joint-stock company">Joint-stock company</a></li>
<li><a href="/wiki/Nationalization" title="Nationalization">Nationalization</a></li>
<li><a href="/wiki/Nonprofit_organization" title="Nonprofit organization">Nonprofit organization</a></li>
<li><a href="/wiki/Partnership" title="Partnership">Partnership</a></li>
<li><a href="/wiki/Privatization" title="Privatization">Privatization</a></li>
<li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li>
<li><a href="/wiki/State-owned_enterprise" title="State-owned enterprise">State-owned enterprise</a></li></ul></li></ul>
</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div><div class="hlist hlist-separated">
<ul><li><img alt="Category" class="noviewer" data-file-height="185" data-file-width="180" decoding="async" height="16" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" title="Category" width="16"/> <a href="/wiki/Category:Industry_(economics)" title="Category:Industry (economics)"><b>Category</b></a></li>
<li><img alt="Commons page" class="noviewer" data-file-height="1376" data-file-width="1024" decoding="async" height="16" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/18px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/24px-Commons-logo.svg.png 2x" title="Commons page" width="12"/> <a class="extiw" href="https://commons.wikimedia.org/wiki/Category:Industries" title="commons:Category:Industries"><b>Commons</b></a></li>
<li><img alt="Outline" class="noviewer" data-file-height="200" data-file-width="130" decoding="async" height="16" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/41/Global_thinking.svg/10px-Global_thinking.svg.png" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/41/Global_thinking.svg/15px-Global_thinking.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/41/Global_thinking.svg/21px-Global_thinking.svg.png 2x" title="Outline" width="10"/> <a href="/wiki/Outline_of_industry" title="Outline of industry"><b>Outline</b></a></li></ul>
</div></div></td></tr></tbody></table></div>
<div aria-labelledby="Authority_control_frameless_&amp;#124;text-top_&amp;#124;10px_&amp;#124;alt=Edit_this_at_Wikidata_&amp;#124;link=https&amp;#58;//www.wikidata.org/wiki/Q43183#identifiers&amp;#124;Edit_this_at_Wikidata" class="navbox authority-control" role="navigation" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th class="navbox-title" colspan="2" scope="col"><div id="Authority_control_frameless_&amp;#124;text-top_&amp;#124;10px_&amp;#124;alt=Edit_this_at_Wikidata_&amp;#124;link=https&amp;#58;//www.wikidata.org/wiki/Q43183#identifiers&amp;#124;Edit_this_at_Wikidata" style="font-size:114%;margin:0 4em"><a href="/wiki/Help:Authority_control" title="Help:Authority control">Authority control</a> <a href="https://www.wikidata.org/wiki/Q43183#identifiers" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" data-file-height="20" data-file-width="20" decoding="async" height="10" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" style="vertical-align: text-top" width="10"/></a></div></th></tr><tr><th class="navbox-group" scope="row" style="width:1%">General</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><span class="uid"><a class="external text" href="https://d-nb.info/gnd/4063173-4" rel="nofollow">Integrated Authority File (Germany)</a></span></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">National libraries</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><span class="uid"><a class="external text" href="https://catalogue.bnf.fr/ark:/12148/cb12088831h" rel="nofollow">France</a> <a class="external text" href="https://data.bnf.fr/ark:/12148/cb12088831h" rel="nofollow">(data)</a></span></li>
<li><span class="uid"><a class="external text" href="https://id.loc.gov/authorities/subjects/sh85066802" rel="nofollow">United States</a></span></li>
<li><span class="uid"><a class="external text" href="https://id.ndl.go.jp/auth/ndlna/00563360" rel="nofollow">Japan</a></span></li></ul>
</div></td></tr><tr><th class="navbox-group" scope="row" style="width:1%">Other</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">
<ul><li><span class="uid"><a class="external text" href="https://academic.microsoft.com/v2/detail/2909152297" rel="nofollow">Microsoft Academic</a></span></li>
<li><span class="uid"><a class="external text" href="https://catalog.archives.gov/id/10640606" rel="nofollow">National Archives (US)</a></span></li></ul>
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<ul class="vector-menu-content-list"><li class="interlanguage-link interwiki-af mw-list-item"><a class="interlanguage-link-target" href="https://af.wikipedia.org/wiki/Versekering" hreflang="af" lang="af" title="Versekering – Afrikaans">Afrikaans</a></li><li class="interlanguage-link interwiki-ar badge-Q17437796 badge-featuredarticle mw-list-item" title="featured article badge"><a class="interlanguage-link-target" href="https://ar.wikipedia.org/wiki/%D8%AA%D8%A3%D9%85%D9%8A%D9%86" hreflang="ar" lang="ar" title="تأمين – Arabic">العربية</a></li><li class="interlanguage-link interwiki-arc mw-list-item"><a class="interlanguage-link-target" href="https://arc.wikipedia.org/wiki/%DC%AC%DC%AB%DC%A2%DC%9D%DC%AC%DC%90" hreflang="arc" lang="arc" title="ܬܫܢܝܬܐ – Aramaic">ܐܪܡܝܐ</a></li><li class="interlanguage-link interwiki-as mw-list-item"><a class="interlanguage-link-target" href="https://as.wikipedia.org/wiki/%E0%A6%AC%E0%A7%80%E0%A6%AE%E0%A6%BE" hreflang="as" lang="as" title="বীমা – Assamese">অসমীয়া</a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a class="interlanguage-link-target" href="https://ast.wikipedia.org/wiki/Seguru" hreflang="ast" lang="ast" title="Seguru – Asturian">Asturianu</a></li><li class="interlanguage-link interwiki-az mw-list-item"><a class="interlanguage-link-target" href="https://az.wikipedia.org/wiki/S%C4%B1%C4%9Forta" hreflang="az" lang="az" title="Sığorta – Azerbaijani">Azərbaycanca</a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a class="interlanguage-link-target" href="https://azb.wikipedia.org/wiki/%D8%A8%DB%8C%D9%85%D9%87" hreflang="azb" lang="azb" title="بیمه – South Azerbaijani">تۆرکجه</a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a class="interlanguage-link-target" href="https://bn.wikipedia.org/wiki/%E0%A6%AC%E0%A7%80%E0%A6%AE%E0%A6%BE" hreflang="bn" lang="bn" title="বীমা – Bangla">বাংলা</a></li><li class="interlanguage-link interwiki-zh-min-nan mw-list-item"><a class="interlanguage-link-target" href="https://zh-min-nan.wikipedia.org/wiki/P%C3%B3-hi%C3%A1m" hreflang="nan" lang="nan" title="Pó-hiám – Chinese (Min Nan)">Bân-lâm-gú</a></li><li class="interlanguage-link interwiki-be mw-list-item"><a class="interlanguage-link-target" href="https://be.wikipedia.org/wiki/%D0%A1%D1%82%D1%80%D0%B0%D1%85%D0%B0%D0%B2%D0%B0%D0%BD%D0%BD%D0%B5" hreflang="be" lang="be" title="Страхаванне – Belarusian">Беларуская</a></li><li class="interlanguage-link interwiki-be-x-old mw-list-item"><a class="interlanguage-link-target" href="https://be-tarask.wikipedia.org/wiki/%D0%A1%D1%82%D1%80%D0%B0%D1%85%D0%B0%D0%B2%D0%B0%D0%BD%D1%8C%D0%BD%D0%B5" hreflang="be-tarask" lang="be-tarask" title="Страхаваньне – Belarusian (Taraškievica orthography)">Беларуская (тарашкевіца)</a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a class="interlanguage-link-target" href="https://bg.wikipedia.org/wiki/%D0%97%D0%B0%D1%81%D1%82%D1%80%D0%B0%D1%85%D0%BE%D0%B2%D0%B0%D0%BD%D0%B5" hreflang="bg" lang="bg" title="Застраховане – Bulgarian">Български</a></li><li class="interlanguage-link interwiki-bxr mw-list-item"><a class="interlanguage-link-target" href="https://bxr.wikipedia.org/wiki/%D0%94%D0%B0%D0%B0%D0%B4%D1%85%D0%B0%D0%BB" hreflang="bxr" lang="bxr" title="Даадхал – Russia Buriat">Буряад</a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a class="interlanguage-link-target" href="https://ca.wikipedia.org/wiki/Contracte_d%27asseguran%C3%A7a" hreflang="ca" lang="ca" title="Contracte d'assegurança – Catalan">Català</a></li><li class="interlanguage-link interwiki-cv mw-list-item"><a class="interlanguage-link-target" href="https://cv.wikipedia.org/wiki/%D0%A8%D0%B0%D0%BD%C4%83%C3%A7%D0%BB%D0%B0%D0%BD%D0%B8" hreflang="cv" lang="cv" title="Шанăçлани – Chuvash">Чӑвашла</a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a class="interlanguage-link-target" href="https://cs.wikipedia.org/wiki/Poji%C5%A1t%C4%9Bn%C3%AD" hreflang="cs" lang="cs" title="Pojištění – Czech">Čeština</a></li><li class="interlanguage-link interwiki-sn mw-list-item"><a class="interlanguage-link-target" href="https://sn.wikipedia.org/wiki/Tsivatsaona" hreflang="sn" lang="sn" title="Tsivatsaona – Shona">ChiShona</a></li><li class="interlanguage-link interwiki-cy mw-list-item"><a class="interlanguage-link-target" href="https://cy.wikipedia.org/wiki/Yswiriant" hreflang="cy" lang="cy" title="Yswiriant – Welsh">Cymraeg</a></li><li class="interlanguage-link interwiki-da mw-list-item"><a class="interlanguage-link-target" href="https://da.wikipedia.org/wiki/Forsikring" hreflang="da" lang="da" title="Forsikring – Danish">Dansk</a></li><li class="interlanguage-link interwiki-de mw-list-item"><a class="interlanguage-link-target" href="https://de.wikipedia.org/wiki/Versicherung_(Kollektiv)" hreflang="de" lang="de" title="Versicherung (Kollektiv) – German">Deutsch</a></li><li class="interlanguage-link interwiki-et mw-list-item"><a class="interlanguage-link-target" href="https://et.wikipedia.org/wiki/Kindlustus" hreflang="et" lang="et" title="Kindlustus – Estonian">Eesti</a></li><li class="interlanguage-link interwiki-el mw-list-item"><a class="interlanguage-link-target" href="https://el.wikipedia.org/wiki/%CE%91%CF%83%CF%86%CE%AC%CE%BB%CE%B5%CE%B9%CE%B1_(%CF%83%CF%8D%CE%BC%CE%B2%CE%B1%CF%83%CE%B7)" hreflang="el" lang="el" title="Ασφάλεια (σύμβαση) – Greek">Ελληνικά</a></li><li class="interlanguage-link interwiki-es mw-list-item"><a class="interlanguage-link-target" href="https://es.wikipedia.org/wiki/Seguro" hreflang="es" lang="es" title="Seguro – Spanish">Español</a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a class="interlanguage-link-target" href="https://eo.wikipedia.org/wiki/Asekuro" hreflang="eo" lang="eo" title="Asekuro – Esperanto">Esperanto</a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a class="interlanguage-link-target" href="https://eu.wikipedia.org/wiki/Aseguru" hreflang="eu" lang="eu" title="Aseguru – Basque">Euskara</a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a class="interlanguage-link-target" href="https://fa.wikipedia.org/wiki/%D8%A8%DB%8C%D9%85%D9%87" hreflang="fa" lang="fa" title="بیمه – Persian">فارسی</a></li><li class="interlanguage-link interwiki-fo mw-list-item"><a class="interlanguage-link-target" href="https://fo.wikipedia.org/wiki/Trygging" hreflang="fo" lang="fo" title="Trygging – Faroese">Føroyskt</a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a class="interlanguage-link-target" href="https://fr.wikipedia.org/wiki/Assurance" hreflang="fr" lang="fr" title="Assurance – French">Français</a></li><li class="interlanguage-link interwiki-fy mw-list-item"><a class="interlanguage-link-target" href="https://fy.wikipedia.org/wiki/Fersekering" hreflang="fy" lang="fy" title="Fersekering – Western Frisian">Frysk</a></li><li class="interlanguage-link interwiki-ga mw-list-item"><a class="interlanguage-link-target" href="https://ga.wikipedia.org/wiki/%C3%81rachas" hreflang="ga" lang="ga" title="Árachas – Irish">Gaeilge</a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a class="interlanguage-link-target" href="https://gl.wikipedia.org/wiki/Seguro" hreflang="gl" lang="gl" title="Seguro – Galician">Galego</a></li><li class="interlanguage-link interwiki-gu mw-list-item"><a class="interlanguage-link-target" href="https://gu.wikipedia.org/wiki/%E0%AA%B5%E0%AB%80%E0%AA%AE%E0%AB%8B" hreflang="gu" lang="gu" title="વીમો – Gujarati">ગુજરાતી</a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a class="interlanguage-link-target" href="https://ko.wikipedia.org/wiki/%EB%B3%B4%ED%97%98" hreflang="ko" lang="ko" title="보험 – Korean">한국어</a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a class="interlanguage-link-target" href="https://hy.wikipedia.org/wiki/%D4%B1%D5%BA%D5%A1%D5%B0%D5%B8%D5%BE%D5%A1%D5%A3%D6%80%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6" hreflang="hy" lang="hy" title="Ապահովագրություն – Armenian">Հայերեն</a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a class="interlanguage-link-target" href="https://hi.wikipedia.org/wiki/%E0%A4%AC%E0%A5%80%E0%A4%AE%E0%A4%BE" hreflang="hi" lang="hi" title="बीमा – Hindi">हिन्दी</a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a class="interlanguage-link-target" href="https://hr.wikipedia.org/wiki/Osiguranje" hreflang="hr" lang="hr" title="Osiguranje – Croatian">Hrvatski</a></li><li class="interlanguage-link interwiki-io mw-list-item"><a class="interlanguage-link-target" href="https://io.wikipedia.org/wiki/Asekuro" hreflang="io" lang="io" title="Asekuro – Ido">Ido</a></li><li class="interlanguage-link interwiki-id mw-list-item"><a class="interlanguage-link-target" href="https://id.wikipedia.org/wiki/Asuransi" hreflang="id" lang="id" title="Asuransi – Indonesian">Bahasa Indonesia</a></li><li class="interlanguage-link interwiki-is mw-list-item"><a class="interlanguage-link-target" href="https://is.wikipedia.org/wiki/V%C3%A1trygging" hreflang="is" lang="is" title="Vátrygging – Icelandic">Íslenska</a></li><li class="interlanguage-link interwiki-it mw-list-item"><a class="interlanguage-link-target" href="https://it.wikipedia.org/wiki/Assicurazione" hreflang="it" lang="it" title="Assicurazione – Italian">Italiano</a></li><li class="interlanguage-link interwiki-he mw-list-item"><a class="interlanguage-link-target" href="https://he.wikipedia.org/wiki/%D7%91%D7%99%D7%98%D7%95%D7%97" hreflang="he" lang="he" title="ביטוח – Hebrew">עברית</a></li><li class="interlanguage-link interwiki-kbp mw-list-item"><a class="interlanguage-link-target" href="https://kbp.wikipedia.org/wiki/H%CA%8Ay%CA%8A%CA%8A_%C9%96%CA%8A%CA%8A_(Assurance)" hreflang="kbp" lang="kbp" title="Hʊyʊʊ ɖʊʊ (Assurance) – Kabiye">Kabɩyɛ</a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a class="interlanguage-link-target" href="https://kn.wikipedia.org/wiki/%E0%B2%B5%E0%B2%BF%E0%B2%AE%E0%B3%86" hreflang="kn" lang="kn" title="ವಿಮೆ – Kannada">ಕನ್ನಡ</a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a class="interlanguage-link-target" href="https://ka.wikipedia.org/wiki/%E1%83%93%E1%83%90%E1%83%96%E1%83%A6%E1%83%95%E1%83%94%E1%83%95%E1%83%90" hreflang="ka" lang="ka" title="დაზღვევა – Georgian">ქართული</a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a class="interlanguage-link-target" href="https://kk.wikipedia.org/wiki/%D0%A1%D0%B0%D2%9B%D1%82%D0%B0%D0%BD%D0%B4%D1%8B%D1%80%D1%83" hreflang="kk" lang="kk" title="Сақтандыру – Kazakh">Қазақша</a></li><li class="interlanguage-link interwiki-sw mw-list-item"><a class="interlanguage-link-target" href="https://sw.wikipedia.org/wiki/Bima" hreflang="sw" lang="sw" title="Bima – Swahili">Kiswahili</a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a class="interlanguage-link-target" href="https://lv.wikipedia.org/wiki/Apdro%C5%A1in%C4%81%C5%A1ana" hreflang="lv" lang="lv" title="Apdrošināšana – Latvian">Latviešu</a></li><li class="interlanguage-link interwiki-lb mw-list-item"><a class="interlanguage-link-target" href="https://lb.wikipedia.org/wiki/Assurance" hreflang="lb" lang="lb" title="Assurance – Luxembourgish">Lëtzebuergesch</a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a class="interlanguage-link-target" href="https://lt.wikipedia.org/wiki/Draudimas" hreflang="lt" lang="lt" title="Draudimas – Lithuanian">Lietuvių</a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a class="interlanguage-link-target" href="https://hu.wikipedia.org/wiki/Biztos%C3%ADt%C3%A1s" hreflang="hu" lang="hu" title="Biztosítás – Hungarian">Magyar</a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a class="interlanguage-link-target" href="https://mk.wikipedia.org/wiki/%D0%9E%D1%81%D0%B8%D0%B3%D1%83%D1%80%D1%83%D0%B2%D0%B0%D1%9A%D0%B5" hreflang="mk" lang="mk" title="Осигурување – Macedonian">Македонски</a></li><li class="interlanguage-link interwiki-ml mw-list-item"><a class="interlanguage-link-target" href="https://ml.wikipedia.org/wiki/%E0%B4%87%E0%B5%BB%E0%B4%B7%E0%B5%81%E0%B4%B1%E0%B5%BB%E0%B4%B8%E0%B5%8D" hreflang="ml" lang="ml" title="ഇൻഷുറൻസ് – Malayalam">മലയാളം</a></li><li class="interlanguage-link interwiki-mr mw-list-item"><a class="interlanguage-link-target" href="https://mr.wikipedia.org/wiki/%E0%A4%B5%E0%A4%BF%E0%A4%AE%E0%A4%BE" hreflang="mr" lang="mr" title="विमा – Marathi">मराठी</a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a class="interlanguage-link-target" href="https://ms.wikipedia.org/wiki/Insurans" hreflang="ms" lang="ms" title="Insurans – Malay">Bahasa Melayu</a></li><li class="interlanguage-link interwiki-min mw-list-item"><a class="interlanguage-link-target" href="https://min.wikipedia.org/wiki/Asuransi" hreflang="min" lang="min" title="Asuransi – Minangkabau">Minangkabau</a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a class="interlanguage-link-target" href="https://mn.wikipedia.org/wiki/%D0%94%D0%B0%D0%B0%D1%82%D0%B3%D0%B0%D0%BB" hreflang="mn" lang="mn" title="Даатгал – Mongolian">Монгол</a></li><li class="interlanguage-link interwiki-my mw-list-item"><a class="interlanguage-link-target" href="https://my.wikipedia.org/wiki/%E1%80%A1%E1%80%AC%E1%80%99%E1%80%81%E1%80%B6%E1%80%9C%E1%80%AF%E1%80%95%E1%80%BA%E1%80%84%E1%80%94%E1%80%BA%E1%80%B8" hreflang="my" lang="my" title="အာမခံလုပ်ငန်း – Burmese">မြန်မာဘာသာ</a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a class="interlanguage-link-target" href="https://nl.wikipedia.org/wiki/Verzekering" hreflang="nl" lang="nl" title="Verzekering – Dutch">Nederlands</a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a class="interlanguage-link-target" href="https://ne.wikipedia.org/wiki/%E0%A4%AC%E0%A5%80%E0%A4%AE%E0%A4%BE" hreflang="ne" lang="ne" title="बीमा – Nepali">नेपाली</a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a class="interlanguage-link-target" href="https://ja.wikipedia.org/wiki/%E4%BF%9D%E9%99%BA" hreflang="ja" lang="ja" title="保険 – Japanese">日本語</a></li><li class="interlanguage-link interwiki-no mw-list-item"><a class="interlanguage-link-target" href="https://no.wikipedia.org/wiki/Forsikring" hreflang="nb" lang="nb" title="Forsikring – Norwegian Bokmål">Norsk bokmål</a></li><li class="interlanguage-link interwiki-nn mw-list-item"><a class="interlanguage-link-target" href="https://nn.wikipedia.org/wiki/Forsikring" hreflang="nn" lang="nn" title="Forsikring – Norwegian Nynorsk">Norsk nynorsk</a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a class="interlanguage-link-target" href="https://uz.wikipedia.org/wiki/Sug%CA%BBurta" hreflang="uz" lang="uz" title="Sugʻurta – Uzbek">Oʻzbekcha/ўзбекча</a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a class="interlanguage-link-target" href="https://pl.wikipedia.org/wiki/Ubezpieczenie_(umowa)" hreflang="pl" lang="pl" title="Ubezpieczenie (umowa) – Polish">Polski</a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a class="interlanguage-link-target" href="https://pt.wikipedia.org/wiki/Seguro" hreflang="pt" lang="pt" title="Seguro – Portuguese">Português</a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a class="interlanguage-link-target" href="https://ro.wikipedia.org/wiki/Asigurare" hreflang="ro" lang="ro" title="Asigurare – Romanian">Română</a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a class="interlanguage-link-target" href="https://ru.wikipedia.org/wiki/%D0%A1%D1%82%D1%80%D0%B0%D1%85%D0%BE%D0%B2%D0%B0%D0%BD%D0%B8%D0%B5" hreflang="ru" lang="ru" title="Страхование – Russian">Русский</a></li><li class="interlanguage-link interwiki-sco mw-list-item"><a class="interlanguage-link-target" href="https://sco.wikipedia.org/wiki/Insurance" hreflang="sco" lang="sco" title="Insurance – Scots">Scots</a></li><li class="interlanguage-link interwiki-si mw-list-item"><a class="interlanguage-link-target" href="https://si.wikipedia.org/wiki/%E0%B6%BB%E0%B6%9A%E0%B7%8A%E2%80%8D%E0%B7%82%E0%B6%AB%E0%B6%BA" hreflang="si" lang="si" title="රක්‍ෂණය – Sinhala">සිංහල</a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a class="interlanguage-link-target" href="https://simple.wikipedia.org/wiki/Insurance" hreflang="en-simple" lang="en-simple" title="Insurance – Simple English">Simple English</a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a class="interlanguage-link-target" href="https://sk.wikipedia.org/wiki/Poistenie" hreflang="sk" lang="sk" title="Poistenie – Slovak">Slovenčina</a></li><li class="interlanguage-link interwiki-ckb mw-list-item"><a class="interlanguage-link-target" href="https://ckb.wikipedia.org/wiki/%D8%A8%DB%8C%D9%85%DB%95" hreflang="ckb" lang="ckb" title="بیمە – Central Kurdish">کوردی</a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a class="interlanguage-link-target" href="https://sr.wikipedia.org/wiki/%D0%9E%D1%81%D0%B8%D0%B3%D1%83%D1%80%D0%B0%D1%9A%D0%B5" hreflang="sr" lang="sr" title="Осигурање – Serbian">Српски / srpski</a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a class="interlanguage-link-target" href="https://sh.wikipedia.org/wiki/Osiguranje" hreflang="sh" lang="sh" title="Osiguranje – Serbo-Croatian">Srpskohrvatski / српскохрватски</a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a class="interlanguage-link-target" href="https://fi.wikipedia.org/wiki/Vakuutus" hreflang="fi" lang="fi" title="Vakuutus – Finnish">Suomi</a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a class="interlanguage-link-target" href="https://sv.wikipedia.org/wiki/F%C3%B6rs%C3%A4kring" hreflang="sv" lang="sv" title="Försäkring – Swedish">Svenska</a></li><li class="interlanguage-link interwiki-tl mw-list-item"><a class="interlanguage-link-target" href="https://tl.wikipedia.org/wiki/Seguro" hreflang="tl" lang="tl" title="Seguro – Tagalog">Tagalog</a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a class="interlanguage-link-target" href="https://ta.wikipedia.org/wiki/%E0%AE%95%E0%AE%BE%E0%AE%AA%E0%AF%8D%E0%AE%AA%E0%AF%80%E0%AE%9F%E0%AF%81" hreflang="ta" lang="ta" title="காப்பீடு – Tamil">தமிழ்</a></li><li class="interlanguage-link interwiki-te mw-list-item"><a class="interlanguage-link-target" href="https://te.wikipedia.org/wiki/%E0%B0%AC%E0%B1%80%E0%B0%AE%E0%B0%BE" hreflang="te" lang="te" title="బీమా – Telugu">తెలుగు</a></li><li class="interlanguage-link interwiki-th mw-list-item"><a class="interlanguage-link-target" href="https://th.wikipedia.org/wiki/%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%9B%E0%B8%A3%E0%B8%B0%E0%B8%81%E0%B8%B1%E0%B8%99%E0%B8%A0%E0%B8%B1%E0%B8%A2" hreflang="th" lang="th" title="การประกันภัย – Thai">ไทย</a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a class="interlanguage-link-target" href="https://tr.wikipedia.org/wiki/Sigorta" hreflang="tr" lang="tr" title="Sigorta – Turkish">Türkçe</a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a class="interlanguage-link-target" href="https://uk.wikipedia.org/wiki/%D0%A1%D1%82%D1%80%D0%B0%D1%85%D1%83%D0%B2%D0%B0%D0%BD%D0%BD%D1%8F" hreflang="uk" lang="uk" title="Страхування – Ukrainian">Українська</a></li><li class="interlanguage-link interwiki-ur mw-list-item"><a class="interlanguage-link-target" href="https://ur.wikipedia.org/wiki/%D8%A8%DB%8C%D9%85%DB%81" hreflang="ur" lang="ur" title="بیمہ – Urdu">اردو</a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a class="interlanguage-link-target" 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href="#mw-head">Jump to navigation</a>\n\t\t<a class="mw-jump-link" href="#searchInput">Jump to search</a>\n\t\t<div id="mw-content-text" class="mw-body-content mw-content-ltr" lang="en" dir="ltr"><div class="mw-parser-output"><style data-mw-deduplicate="TemplateStyles:r1033289096">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}</style><div role="note" class="hatnote navigation-not-searchable">For other uses, see <a href="/wiki/Insurance_(disambiguation)" class="mw-disambig" title="Insurance (disambiguation)">Insurance (disambiguation)</a>.</div>\n<div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Equitable transfer of the risk of a loss, from one entity to another in exchange for payment</div>\n<p class="mw-empty-elt">\n</p>\n<div class="thumb tright"><div class="thumbinner" style="width:292px;"><a href="/wiki/File:Algemeene_Verzeekering-Maatschappij_Providentia.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e4/Algemeene_Verzeekering-Maatschappij_Providentia.jpg/290px-Algemeene_Verzeekering-Maatschappij_Providentia.jpg" decoding="async" width="290" height="380" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e4/Algemeene_Verzeekering-Maatschappij_Providentia.jpg/435px-Algemeene_Verzeekering-Maatschappij_Providentia.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e4/Algemeene_Verzeekering-Maatschappij_Providentia.jpg/580px-Algemeene_Verzeekering-Maatschappij_Providentia.jpg 2x" data-file-width="1200" data-file-height="1571" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Algemeene_Verzeekering-Maatschappij_Providentia.jpg" class="internal" title="Enlarge"></a></div>An advertising poster for a Dutch insurance company from <abbr title="circa">c.</abbr> 1900\xe2\x80\x931918 depicts an armored knight</div></div></div>  \n<style data-mw-deduplicate="TemplateStyles:r1042089871">.mw-parser-output .sidebar{width:22em;float:right;clear:right;margin:0.5em 0 1em 1em;background:#f8f9fa;border:1px solid #aaa;padding:0.2em;text-align:center;line-height:1.4em;font-size:88%;border-collapse:collapse;display:table}body.skin-minerva .mw-parser-output .sidebar{display:table!important;float:right!important;margin:0.5em 0 1em 1em!important}.mw-parser-output .sidebar-subgroup{width:100%;margin:0;border-spacing:0}.mw-parser-output .sidebar-left{float:left;clear:left;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-none{float:none;clear:both;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-outer-title{padding:0 0.4em 0.2em;font-size:125%;line-height:1.2em;font-weight:bold}.mw-parser-output .sidebar-top-image{padding:0.4em}.mw-parser-output .sidebar-top-caption,.mw-parser-output .sidebar-pretitle-with-top-image,.mw-parser-output .sidebar-caption{padding:0.2em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-pretitle{padding:0.4em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-title,.mw-parser-output .sidebar-title-with-pretitle{padding:0.2em 0.8em;font-size:145%;line-height:1.2em}.mw-parser-output .sidebar-title-with-pretitle{padding:0.1em 0.4em}.mw-parser-output .sidebar-image{padding:0.2em 0.4em 0.4em}.mw-parser-output .sidebar-heading{padding:0.1em 0.4em}.mw-parser-output .sidebar-content{padding:0 0.5em 0.4em}.mw-parser-output .sidebar-content-with-subgroup{padding:0.1em 0.4em 0.2em}.mw-parser-output .sidebar-above,.mw-parser-output .sidebar-below{padding:0.3em 0.8em;font-weight:bold}.mw-parser-output .sidebar-collapse .sidebar-above,.mw-parser-output .sidebar-collapse .sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:720px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}</style><table class="sidebar nomobile nowraplinks hlist"><tbody><tr><th class="sidebar-title" style="font-size:125%"><a href="/wiki/Financial_market_participants" title="Financial market participants">Financial market participants</a></th></tr><tr><td class="sidebar-content">\n<ul><li><a href="/wiki/Credit_union" title="Credit union">Credit unions</a></li>\n<li><a class="mw-selflink selflink">Insurance companies</a></li>\n<li><a href="/wiki/Investment_banking" title="Investment banking">Investment banks</a></li>\n<li><a href="/wiki/Investment_fund" title="Investment fund">Investment funds</a></li>\n<li><a href="/wiki/Pension_fund" title="Pension fund">Pension funds</a></li>\n<li><a href="/wiki/Prime_brokerage" title="Prime brokerage">Prime brokers</a></li>\n<li><a href="/wiki/Trust_company" title="Trust company">Trusts</a></li></ul></td>\n</tr><tr><td class="sidebar-content">\n<ul><li><a href="/wiki/Finance" title="Finance">Finance</a></li>\n<li><a href="/wiki/Financial_market" title="Financial market">Financial market</a></li>\n<li><a href="/wiki/Financial_market_participants" title="Financial market participants">Participants</a></li>\n<li><a href="/wiki/Corporate_finance" title="Corporate finance">Corporate finance</a></li>\n<li><a href="/wiki/Personal_finance" title="Personal finance">Personal finance</a></li>\n<li><a href="/wiki/Public_finance" title="Public finance">Public finance</a></li>\n<li><a href="/wiki/Bank" title="Bank">Banks and banking</a></li>\n<li><a href="/wiki/Financial_regulation" title="Financial regulation">Financial regulation</a></li>\n<li><a href="/wiki/Fund_governance" title="Fund governance">Fund governance</a></li></ul></td>\n</tr></tbody></table>\n<p><b>Insurance</b> is a means of protection from financial loss.  It is a form of <a href="/wiki/Risk_management" title="Risk management">risk management</a>, primarily used to <a href="/wiki/Hedge_(finance)" title="Hedge (finance)">hedge</a> against the risk of a contingent or uncertain loss.\n</p><p>An entity which provides insurance is known as an <b>insurer</b>, an <b>insurance company</b>, an <b>insurance carrier</b> or an <a href="/wiki/Underwriter" class="mw-redirect" title="Underwriter">underwriter</a>.  A person or entity who buys insurance is known as an <b>insured</b> or as a <b>policyholder</b>. The insurance transaction involves the insured assuming a guaranteed and known - relatively small - loss in the form of payment to the insurer in exchange for the insurer\'s promise to compensate the insured in the event of a covered loss.  The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an <a href="/wiki/Insurable_interest" title="Insurable interest">insurable interest</a> established by ownership, possession, or pre-existing relationship.\n</p><p>The insured receives a <a href="/wiki/Contract" title="Contract">contract</a>, called the <a href="/wiki/Insurance_policy" title="Insurance policy">insurance policy</a>, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the <b>premium</b>. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a <a href="/wiki/Claims_adjuster" title="Claims adjuster">claims adjuster</a>. A mandatory <a href="/wiki/Out-of-pocket_expense" title="Out-of-pocket expense">out-of-pocket expense</a> required by an insurance policy before an insurer will pay a claim is called a <b><a href="/wiki/Deductible" title="Deductible">deductible</a></b> (or if required by a <a href="/wiki/Health_insurance" title="Health insurance">health insurance</a> policy, a <b><a href="/wiki/Copayment" title="Copayment">copayment</a></b>). The insurer may <a href="/wiki/Hedge_(finance)" title="Hedge (finance)">hedge</a> its own risk by taking out <a href="/wiki/Reinsurance" title="Reinsurance">reinsurance</a>, whereby another insurance company agrees to carry some of the risks, especially if the primary insurer deems the risk too large for it to carry.\n</p>\n<div id="toc" class="toc" role="navigation" aria-labelledby="mw-toc-heading"><input type="checkbox" role="button" id="toctogglecheckbox" class="toctogglecheckbox" style="display:none" /><div class="toctitle" lang="en" dir="ltr"><h2 id="mw-toc-heading">Contents</h2><span class="toctogglespan"><label class="toctogglelabel" for="toctogglecheckbox"></label></span></div>\n<ul>\n<li class="toclevel-1 tocsection-1"><a href="#History"><span class="tocnumber">1</span> <span class="toctext">History</span></a>\n<ul>\n<li class="toclevel-2 tocsection-2"><a href="#Early_methods"><span class="tocnumber">1.1</span> <span class="toctext">Early methods</span></a></li>\n<li class="toclevel-2 tocsection-3"><a href="#Modern_methods"><span class="tocnumber">1.2</span> <span class="toctext">Modern methods</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-4"><a href="#Principles"><span class="tocnumber">2</span> <span class="toctext">Principles</span></a>\n<ul>\n<li class="toclevel-2 tocsection-5"><a href="#Insurability"><span class="tocnumber">2.1</span> <span class="toctext">Insurability</span></a></li>\n<li class="toclevel-2 tocsection-6"><a href="#Legal"><span class="tocnumber">2.2</span> <span class="toctext">Legal</span></a></li>\n<li class="toclevel-2 tocsection-7"><a href="#Indemnification"><span class="tocnumber">2.3</span> <span class="toctext">Indemnification</span></a></li>\n<li class="toclevel-2 tocsection-8"><a href="#Exclusions"><span class="tocnumber">2.4</span> <span class="toctext">Exclusions</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-9"><a href="#Social_effects"><span class="tocnumber">3</span> <span class="toctext">Social effects</span></a>\n<ul>\n<li class="toclevel-2 tocsection-10"><a href="#Methods_of_insurance"><span class="tocnumber">3.1</span> <span class="toctext">Methods of insurance</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-11"><a href="#Insurers&#39;_business_model"><span class="tocnumber">4</span> <span class="toctext">Insurers\' business model</span></a>\n<ul>\n<li class="toclevel-2 tocsection-12"><a href="#Underwriting_and_investing"><span class="tocnumber">4.1</span> <span class="toctext">Underwriting and investing</span></a></li>\n<li class="toclevel-2 tocsection-13"><a href="#Claims"><span class="tocnumber">4.2</span> <span class="toctext">Claims</span></a></li>\n<li class="toclevel-2 tocsection-14"><a href="#Marketing"><span class="tocnumber">4.3</span> <span class="toctext">Marketing</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-15"><a href="#Types"><span class="tocnumber">5</span> <span class="toctext">Types</span></a>\n<ul>\n<li class="toclevel-2 tocsection-16"><a href="#Auto_insurance"><span class="tocnumber">5.1</span> <span class="toctext">Auto insurance</span></a></li>\n<li class="toclevel-2 tocsection-17"><a href="#Gap_insurance"><span class="tocnumber">5.2</span> <span class="toctext">Gap insurance</span></a></li>\n<li class="toclevel-2 tocsection-18"><a href="#Health_insurance"><span class="tocnumber">5.3</span> <span class="toctext">Health insurance</span></a></li>\n<li class="toclevel-2 tocsection-19"><a href="#Income_protection_insurance"><span class="tocnumber">5.4</span> <span class="toctext">Income protection insurance</span></a></li>\n<li class="toclevel-2 tocsection-20"><a href="#Casualty_insurance"><span class="tocnumber">5.5</span> <span class="toctext">Casualty insurance</span></a></li>\n<li class="toclevel-2 tocsection-21"><a href="#Life_insurance"><span class="tocnumber">5.6</span> <span class="toctext">Life insurance</span></a></li>\n<li class="toclevel-2 tocsection-22"><a href="#Burial_insurance"><span class="tocnumber">5.7</span> <span class="toctext">Burial insurance</span></a></li>\n<li class="toclevel-2 tocsection-23"><a href="#Property"><span class="tocnumber">5.8</span> <span class="toctext">Property</span></a></li>\n<li class="toclevel-2 tocsection-24"><a href="#Liability"><span class="tocnumber">5.9</span> <span class="toctext">Liability</span></a></li>\n<li class="toclevel-2 tocsection-25"><a href="#Credit"><span class="tocnumber">5.10</span> <span class="toctext">Credit</span></a></li>\n<li class="toclevel-2 tocsection-26"><a href="#Cyber_Attack_Insurance"><span class="tocnumber">5.11</span> <span class="toctext">Cyber Attack Insurance</span></a></li>\n<li class="toclevel-2 tocsection-27"><a href="#Other_types"><span class="tocnumber">5.12</span> <span class="toctext">Other types</span></a></li>\n<li class="toclevel-2 tocsection-28"><a href="#Insurance_financing_vehicles"><span class="tocnumber">5.13</span> <span class="toctext">Insurance financing vehicles</span></a></li>\n<li class="toclevel-2 tocsection-29"><a href="#Closed_community_and_governmental_self-insurance"><span class="tocnumber">5.14</span> <span class="toctext">Closed community and governmental self-insurance</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-30"><a href="#Insurance_companies"><span class="tocnumber">6</span> <span class="toctext">Insurance companies</span></a>\n<ul>\n<li class="toclevel-2 tocsection-31"><a href="#Mutual_versus_proprietary"><span class="tocnumber">6.1</span> <span class="toctext">Mutual versus proprietary</span></a></li>\n<li class="toclevel-2 tocsection-32"><a href="#Reinsurance_companies"><span class="tocnumber">6.2</span> <span class="toctext">Reinsurance companies</span></a></li>\n<li class="toclevel-2 tocsection-33"><a href="#Captive_insurance_companies"><span class="tocnumber">6.3</span> <span class="toctext">Captive insurance companies</span></a></li>\n<li class="toclevel-2 tocsection-34"><a href="#Other_forms"><span class="tocnumber">6.4</span> <span class="toctext">Other forms</span></a></li>\n<li class="toclevel-2 tocsection-35"><a href="#Admitted_versus_non-admitted"><span class="tocnumber">6.5</span> <span class="toctext">Admitted versus non-admitted</span></a></li>\n<li class="toclevel-2 tocsection-36"><a href="#Insurance_consultants"><span class="tocnumber">6.6</span> <span class="toctext">Insurance consultants</span></a></li>\n<li class="toclevel-2 tocsection-37"><a href="#Financial_stability_and_rating"><span class="tocnumber">6.7</span> <span class="toctext">Financial stability and rating</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-38"><a href="#Across_the_world"><span class="tocnumber">7</span> <span class="toctext">Across the world</span></a>\n<ul>\n<li class="toclevel-2 tocsection-39"><a href="#Regulatory_differences"><span class="tocnumber">7.1</span> <span class="toctext">Regulatory differences</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-40"><a href="#Controversies"><span class="tocnumber">8</span> <span class="toctext">Controversies</span></a>\n<ul>\n<li class="toclevel-2 tocsection-41"><a href="#Does_not_reduce_the_risk"><span class="tocnumber">8.1</span> <span class="toctext">Does not reduce the risk</span></a></li>\n<li class="toclevel-2 tocsection-42"><a href="#Moral_hazard"><span class="tocnumber">8.2</span> <span class="toctext">Moral hazard</span></a></li>\n<li class="toclevel-2 tocsection-43"><a href="#Complexity_of_insurance_policy_contracts"><span class="tocnumber">8.3</span> <span class="toctext">Complexity of insurance policy contracts</span></a></li>\n<li class="toclevel-2 tocsection-44"><a href="#Limited_consumer_benefits"><span class="tocnumber">8.4</span> <span class="toctext">Limited consumer benefits</span></a></li>\n<li class="toclevel-2 tocsection-45"><a href="#Redlining"><span class="tocnumber">8.5</span> <span class="toctext">Redlining</span></a></li>\n<li class="toclevel-2 tocsection-46"><a href="#Insurance_patents"><span class="tocnumber">8.6</span> <span class="toctext">Insurance patents</span></a></li>\n<li class="toclevel-2 tocsection-47"><a href="#Insurance_on_demand"><span class="tocnumber">8.7</span> <span class="toctext">Insurance on demand</span></a></li>\n<li class="toclevel-2 tocsection-48"><a href="#Insurance_industry_and_rent-seeking"><span class="tocnumber">8.8</span> <span class="toctext">Insurance industry and rent-seeking</span></a></li>\n<li class="toclevel-2 tocsection-49"><a href="#Religious_concerns"><span class="tocnumber">8.9</span> <span class="toctext">Religious concerns</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-50"><a href="#See_also"><span class="tocnumber">9</span> <span class="toctext">See also</span></a></li>\n<li class="toclevel-1 tocsection-51"><a href="#Notes"><span class="tocnumber">10</span> <span class="toctext">Notes</span></a></li>\n<li class="toclevel-1 tocsection-52"><a href="#References"><span class="tocnumber">11</span> <span class="toctext">References</span></a>\n<ul>\n<li class="toclevel-2 tocsection-53"><a href="#Citations"><span class="tocnumber">11.1</span> <span class="toctext">Citations</span></a></li>\n<li class="toclevel-2 tocsection-54"><a href="#Sources"><span class="tocnumber">11.2</span> <span class="toctext">Sources</span></a></li>\n</ul>\n</li>\n<li class="toclevel-1 tocsection-55"><a href="#External_links"><span class="tocnumber">12</span> <span class="toctext">External links</span></a></li>\n</ul>\n</div>\n\n<h2><span class="mw-headline" id="History">History</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=1" title="Edit section: History">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/History_of_insurance" title="History of insurance">History of insurance</a></div>\n<h3><span class="mw-headline" id="Early_methods">Early methods</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=2" title="Edit section: Early methods">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg/220px-Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg" decoding="async" width="220" height="136" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg/330px-Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg/440px-Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg 2x" data-file-width="1132" data-file-height="700" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Ferdinand_Bol_-_Governors_of_the_Wine_Merchant%27s_Guild_-_WGA2361.jpg" class="internal" title="Enlarge"></a></div>Merchants have sought methods to minimize risks since early times. Pictured, <i>Governors of the Wine Merchant\'s Guild</i> by <a href="/wiki/Ferdinand_Bol" title="Ferdinand Bol">Ferdinand Bol</a>, c. 1680.</div></div></div>\n<p>Methods for transferring or distributing risk were practiced by <a href="/wiki/Babylonia" title="Babylonia">Babylonian</a>, <a href="/wiki/China" title="China">Chinese</a> and <a href="/wiki/Indian_people" title="Indian people">Indian</a> traders as long ago as the <a href="/wiki/3rd_millennium_BC" title="3rd millennium BC">3rd</a> and <a href="/wiki/2nd_millennium_BC" title="2nd millennium BC">2nd</a> <a href="/wiki/Millennium" title="Millennium">millennia</a> BC, respectively.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1">&#91;1&#93;</a></sup><sup id="cite_ref-2" class="reference"><a href="#cite_note-2">&#91;2&#93;</a></sup> Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessels capsizing.\n</p><p><a href="/wiki/Code_of_Hammurabi#Laws" title="Code of Hammurabi"><i>Codex Hammurabi</i> Law 238</a> (c. 1755\xe2\x80\x931750 BC) stipulated that a <a href="/wiki/Sea_captain" title="Sea captain">sea captain</a>, <a href="/wiki/Technical_management" title="Technical management">ship-manager</a>, or <a href="/wiki/Chartering_(shipping)" title="Chartering (shipping)">ship charterer</a> that saved a ship from <a href="/wiki/Shipwreck" title="Shipwreck">total loss</a> was <a href="/wiki/Pro_rata" title="Pro rata">only required to pay one-half the value of the ship</a> to the <a href="/wiki/Ship-owner" title="Ship-owner">ship-owner</a>.<sup id="cite_ref-Sommer_1903_p._86_3-0" class="reference"><a href="#cite_note-Sommer_1903_p._86-3">&#91;3&#93;</a></sup><sup id="cite_ref-Harper_1904_p._85_4-0" class="reference"><a href="#cite_note-Harper_1904_p._85-4">&#91;4&#93;</a></sup><sup id="cite_ref-King_1910_5-0" class="reference"><a href="#cite_note-King_1910-5">&#91;5&#93;</a></sup> In the <i><a href="/wiki/Digest_(Roman_law)" title="Digest (Roman law)">Digesta seu Pandectae</a></i> (533), the second volume of the <a href="/wiki/Corpus_Juris_Civilis" title="Corpus Juris Civilis">codification of laws ordered</a> by <a href="/wiki/Justinian_I" title="Justinian I">Justinian I</a> (527\xe2\x80\x93565) of the <a href="/wiki/Byzantine_Empire" title="Byzantine Empire">Eastern Roman Empire</a>, a <a href="/wiki/Legal_opinion" title="Legal opinion">legal opinion</a> written by the <a href="/wiki/Roman_law" title="Roman law">Roman jurist</a> <a href="/wiki/Julius_Paulus_Prudentissimus" title="Julius Paulus Prudentissimus">Paulus</a> at the beginning of the <a href="/wiki/Crisis_of_the_Third_Century" title="Crisis of the Third Century">Crisis of the Third Century</a> in 235 AD  was included about the <i><a href="/wiki/List_of_Roman_laws" title="List of Roman laws">Lex Rhodia</a></i> ("Rhodian law") that articulates the <a href="/wiki/General_average" title="General average">general average</a> principle of <a href="/wiki/Marine_insurance" title="Marine insurance">marine insurance</a> established on the island of <a href="/wiki/Rhodes" title="Rhodes">Rhodes</a> in approximately 1000 to 800 BC as a member of the <a href="/wiki/Doric_Hexapolis" title="Doric Hexapolis">Doric Hexapolis</a>, plausibly by the <a href="/wiki/Phoenicia" title="Phoenicia">Phoenicians</a> during the proposed <a href="/wiki/Dorian_invasion" title="Dorian invasion">Dorian invasion</a> and emergence of the purported <a href="/wiki/Sea_Peoples" title="Sea Peoples">Sea Peoples</a> during the <a href="/wiki/Greek_Dark_Ages" title="Greek Dark Ages">Greek Dark Ages</a> (c. 1100\xe2\x80\x93c. 750) that led to the proliferation of the <a href="/wiki/Doric_Greek" title="Doric Greek">Doric Greek</a> <a href="/wiki/Ancient_Greek_dialects" title="Ancient Greek dialects">dialect</a>.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6">&#91;6&#93;</a></sup><sup id="cite_ref-Prudential_pp._5\xe2\x80\x936_7-0" class="reference"><a href="#cite_note-Prudential_pp._5\xe2\x80\x936-7">&#91;7&#93;</a></sup><sup id="cite_ref-Duhaime_8-0" class="reference"><a href="#cite_note-Duhaime-8">&#91;8&#93;</a></sup>\n</p><p>The law of general average constitutes the fundamental <a href="/wiki/Principle" title="Principle">principle</a> that underlies all insurance.<sup id="cite_ref-Prudential_pp._5\xe2\x80\x936_7-1" class="reference"><a href="#cite_note-Prudential_pp._5\xe2\x80\x936-7">&#91;7&#93;</a></sup> In 1816, an archeological excavation in <a href="/wiki/Minya,_Egypt" title="Minya, Egypt">Minya, Egypt</a> (under an <a href="/wiki/Egypt_Eyalet" title="Egypt Eyalet">Eyalet</a> of the <a href="/wiki/Ottoman_Empire" title="Ottoman Empire">Ottoman Empire</a>) produced a <a href="/wiki/Nerva%E2%80%93Antonine_dynasty" title="Nerva\xe2\x80\x93Antonine dynasty">Nerva\xe2\x80\x93Antonine dynasty</a>-era <a href="/wiki/Clay_tablet" title="Clay tablet">tablet</a> from the ruins of the <a href="/wiki/Antinous#Deification_and_the_cult_of_Antinous" title="Antinous">Temple of Antinous</a> in <a href="/wiki/Antino%C3%B6polis" title="Antino\xc3\xb6polis">Antino\xc3\xb6polis</a>, <a href="/wiki/Roman_Egypt" title="Roman Egypt">Aegyptus</a> that <a href="/wiki/Articles_of_association" title="Articles of association">prescribed the rules</a> and <a href="/wiki/Benefit_society" title="Benefit society">membership dues</a> of a <a href="/wiki/Burial_society" title="Burial society">burial society</a> <a href="/wiki/Collegium_(ancient_Rome)" title="Collegium (ancient Rome)">collegium</a> established in <a href="/wiki/Lanuvium" title="Lanuvium">Lanuvium</a>, <a href="/wiki/Roman_Italy" title="Roman Italy">Italia</a> in approximately 133 AD during the reign of <a href="/wiki/Hadrian" title="Hadrian">Hadrian</a> (117\xe2\x80\x93138) of the <a href="/wiki/Roman_Empire" title="Roman Empire">Roman Empire</a>.<sup id="cite_ref-Prudential_pp._5\xe2\x80\x936_7-2" class="reference"><a href="#cite_note-Prudential_pp._5\xe2\x80\x936-7">&#91;7&#93;</a></sup> In 1851, future <a href="/wiki/Supreme_Court_of_the_United_States" title="Supreme Court of the United States">U.S. Supreme Court</a> <a href="/wiki/Associate_Justice_of_the_Supreme_Court_of_the_United_States" title="Associate Justice of the Supreme Court of the United States">Associate Justice</a> <a href="/wiki/Joseph_P._Bradley" title="Joseph P. Bradley">Joseph P. Bradley</a> (1870\xe2\x80\x931892), once employed as an <a href="/wiki/Actuary" title="Actuary">actuary</a> for the <a href="/wiki/Mutual_Benefit_Life_Insurance_Company" title="Mutual Benefit Life Insurance Company">Mutual Benefit Life Insurance Company</a>, submitted an article to the <i><a href="/wiki/Institute_of_Actuaries" title="Institute of Actuaries">Journal of the Institute of Actuaries</a></i> detailing an historical account of a <a href="/wiki/Severan_dynasty" title="Severan dynasty">Severan dynasty</a>-era <a href="/wiki/Life_table" title="Life table">life table</a> compiled by the <a href="/wiki/Roman_law" title="Roman law">Roman jurist</a> <a href="/wiki/Ulpian" title="Ulpian">Ulpian</a> in approximately 220 AD during the reign of <a href="/wiki/Elagabalus" title="Elagabalus">Elagabalus</a> (218\xe2\x80\x93222) that was also included in the <i>Digesta</i>.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9">&#91;9&#93;</a></sup>\n</p><p>Concepts of insurance has been also found in 3rd century BCE Hindu scriptures such as <a href="/wiki/Dharmasastra" class="mw-redirect" title="Dharmasastra">Dharmasastra</a>, <a href="/wiki/Arthashastra" title="Arthashastra">Arthashastra</a> and <a href="/wiki/Manusmriti" title="Manusmriti">Manusmriti</a>.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10">&#91;10&#93;</a></sup> The ancient Greeks had marine loans. Money was advanced on a ship or cargo, to be repaid with large interest if the voyage prospers, but not repaid at all if the ship is lost, the rate of interest being made high enough to pay not only for the use of the capital but for the risk of losing it (fully described by <a href="/wiki/Demosthenes" title="Demosthenes">Demosthenes</a>). Loans of this character have ever since been common in maritime lands, under the name of <a href="/wiki/Bottomry" title="Bottomry">bottomry</a> and respondentia bonds.<sup id="cite_ref-EB1911_11-0" class="reference"><a href="#cite_note-EB1911-11">&#91;11&#93;</a></sup>\n</p><p>The direct insurance of sea-risks for a premium paid independently of loans began, as far as is known, in <a href="/wiki/Belgium" title="Belgium">Belgium</a> about A.D. 1300.<sup id="cite_ref-EB1911_11-1" class="reference"><a href="#cite_note-EB1911-11">&#91;11&#93;</a></sup>\n</p><p>Separate insurance contracts (i.e., insurance policies not bundled with loans or other kinds of contracts) were invented in <a href="/wiki/Genoa" title="Genoa">Genoa</a> in the 14th century, as were insurance pools backed by pledges of landed estates. The first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12">&#91;12&#93;</a></sup> These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in <a href="/wiki/Marine_insurance" title="Marine insurance">marine insurance</a>.\n</p><p>The earliest known policy of life insurance was made in the <a href="/wiki/Royal_Exchange,_London" title="Royal Exchange, London">Royal Exchange, London</a>, on the 18th of June 1583, for \xc2\xa3383, 6s. 8d. for twelve months, on the life of William Gibbons.<sup id="cite_ref-EB1911_11-2" class="reference"><a href="#cite_note-EB1911-11">&#91;11&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Modern_methods">Modern methods</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=3" title="Edit section: Modern methods">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Insurance became far more sophisticated in <a href="/wiki/Enlightenment_era" class="mw-redirect" title="Enlightenment era">Enlightenment era</a> <a href="/wiki/Europe" title="Europe">Europe</a>, where specialized varieties developed.\n</p>\n<div class="thumb tright"><div class="thumbinner" style="width:182px;"><a href="/wiki/File:Lloyd%27s_coffee_house_drawing.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/b/b8/Lloyd%27s_coffee_house_drawing.jpg" decoding="async" width="180" height="211" class="thumbimage" data-file-width="180" data-file-height="211" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Lloyd%27s_coffee_house_drawing.jpg" class="internal" title="Enlarge"></a></div><a href="/wiki/Lloyd%27s_Coffee_House" title="Lloyd&#39;s Coffee House">Lloyd\'s Coffee House</a> was the first organized market for marine insurance.</div></div></div>\n<p><a href="/wiki/Property_insurance" title="Property insurance">Property insurance</a> as we know it today can be traced to the <a href="/wiki/Great_Fire_of_London" title="Great Fire of London">Great Fire of London</a>, which in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir <a href="/wiki/Christopher_Wren" title="Christopher Wren">Christopher Wren</a>\'s inclusion of a site for "the Insurance Office" in his new plan for London in 1667."<sup id="cite_ref-13" class="reference"><a href="#cite_note-13">&#91;13&#93;</a></sup> A number of attempted fire insurance schemes came to nothing, but in 1681, <a href="/wiki/Economics" title="Economics">economist</a> <a href="/wiki/Nicholas_Barbon" title="Nicholas Barbon">Nicholas Barbon</a> and eleven associates established the first fire insurance company, the "Insurance Office for Houses", at the back of the Royal Exchange to insure brick and frame homes. Initially, 5,000 homes were insured by his Insurance Office.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14">&#91;14&#93;</a></sup>\n</p><p>At the same time, the first insurance schemes for the <a href="/wiki/Underwriting" title="Underwriting">underwriting</a> of <a href="/wiki/Business_venture" class="mw-redirect" title="Business venture">business ventures</a> became available. By the end of the seventeenth century, London\'s growth as a centre for trade was increasing due to the demand for <a href="/wiki/Marine_insurance" title="Marine insurance">marine insurance</a>. In the late 1680s, Edward Lloyd opened <a href="/wiki/Lloyd%27s_Coffee_House" title="Lloyd&#39;s Coffee House">a coffee house</a>, which became the meeting place for parties in the shipping industry wishing to insure cargoes and ships, including those willing to underwrite such ventures. These informal beginnings led to the establishment of the insurance market <a href="/wiki/Lloyd%27s_of_London" title="Lloyd&#39;s of London">Lloyd\'s of London</a> and several related shipping and insurance businesses.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15">&#91;15&#93;</a></sup>\n</p>\n<div class="thumb tleft"><div class="thumbinner" style="width:202px;"><a href="/wiki/File:National-insurance-act-1911.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8b/National-insurance-act-1911.jpg/200px-National-insurance-act-1911.jpg" decoding="async" width="200" height="272" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8b/National-insurance-act-1911.jpg/300px-National-insurance-act-1911.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8b/National-insurance-act-1911.jpg/400px-National-insurance-act-1911.jpg 2x" data-file-width="440" data-file-height="598" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:National-insurance-act-1911.jpg" class="internal" title="Enlarge"></a></div>Leaflet promoting the <a href="/wiki/National_Insurance_Act_1911" title="National Insurance Act 1911">National Insurance Act 1911</a>.</div></div></div>\n<p>The first <a href="/wiki/Life_insurance" title="Life insurance">life insurance</a> policies were taken out in the early 18th century. The first company to offer life insurance was the <a href="/wiki/Amicable_Society_for_a_Perpetual_Assurance_Office" title="Amicable Society for a Perpetual Assurance Office">Amicable Society for a Perpetual Assurance Office</a>, founded in London in 1706 by <a href="/wiki/William_Talbot_(bishop)" title="William Talbot (bishop)">William Talbot</a> and <a href="/wiki/Allen_baronets" title="Allen baronets">Sir Thomas Allen</a>.<sup id="cite_ref-Anzovin121_16-0" class="reference"><a href="#cite_note-Anzovin121-16">&#91;16&#93;</a></sup><sup id="cite_ref-17" class="reference"><a href="#cite_note-17">&#91;17&#93;</a></sup> Upon the same principle, <a href="/wiki/Edward_Rowe_Mores" title="Edward Rowe Mores">Edward Rowe Mores</a> established the <a href="/wiki/The_Equitable_Life_Assurance_Society" title="The Equitable Life Assurance Society">Society for Equitable Assurances on Lives and Survivorship</a> in 1762.\n</p><p>It was the world\'s first <a href="/wiki/Mutual_insurer" class="mw-redirect" title="Mutual insurer">mutual insurer</a> and it pioneered age based premiums based on <a href="/wiki/Mortality_rate" title="Mortality rate">mortality rate</a> laying "the framework for scientific insurance practice and development" and "the basis of modern life assurance upon which all life assurance schemes were subsequently based."<sup id="cite_ref-eq_18-0" class="reference"><a href="#cite_note-eq-18">&#91;18&#93;</a></sup>\n</p><p>In the late 19th century "accident insurance" began to become available.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19">&#91;19&#93;</a></sup> The first company to offer accident insurance was the Railway Passengers Assurance Company, formed in 1848 in England to insure against the rising number of fatalities on the nascent <a href="/wiki/Railway" class="mw-redirect" title="Railway">railway</a> system.\n</p><p>By the late 19th century governments began to initiate national insurance programs against sickness and old age. <a href="/wiki/History_of_Germany" title="History of Germany">Germany</a> built on a tradition of welfare programs in Prussia and Saxony that began as early as in the 1840s. In the 1880s Chancellor <a href="/wiki/Otto_von_Bismarck" title="Otto von Bismarck">Otto von Bismarck</a> introduced old age pensions, accident insurance and medical care that formed the basis for Germany\'s <a href="/wiki/Welfare_state" title="Welfare state">welfare state</a>.<sup id="cite_ref-EPH_20-0" class="reference"><a href="#cite_note-EPH-20">&#91;20&#93;</a></sup><sup id="cite_ref-21" class="reference"><a href="#cite_note-21">&#91;21&#93;</a></sup> In Britain more extensive legislation was introduced by the <a href="/wiki/Liberal_Party_(UK)" title="Liberal Party (UK)">Liberal</a> government in the <a href="/wiki/1911_National_Insurance_Act" class="mw-redirect" title="1911 National Insurance Act">1911 National Insurance Act</a>. This gave the British working classes the first contributory system of insurance against illness and unemployment.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22">&#91;22&#93;</a></sup> This system was greatly expanded after the <a href="/wiki/Second_World_War" class="mw-redirect" title="Second World War">Second World War</a> under the influence of the <a href="/wiki/Beveridge_Report" title="Beveridge Report">Beveridge Report</a>, to form the first modern <a href="/wiki/Welfare_state" title="Welfare state">welfare state</a>.<sup id="cite_ref-EPH_20-1" class="reference"><a href="#cite_note-EPH-20">&#91;20&#93;</a></sup><sup id="cite_ref-23" class="reference"><a href="#cite_note-23">&#91;23&#93;</a></sup>\n</p>\n<h2><span class="mw-headline" id="Principles">Principles</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=4" title="Edit section: Principles">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<p>Insurance involves <a href="/wiki/Pooling_(resource_management)" title="Pooling (resource management)">pooling</a> funds from <i>many</i> 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 an <a href="/wiki/Insurable_risk" class="mw-redirect" title="Insurable risk">insurable risk</a>, the risk insured against must meet certain characteristics. Insurance as a <a href="/wiki/Financial_intermediary" title="Financial intermediary">financial intermediary</a> is a commercial enterprise and a major part of the financial services industry, but individual entities can also <a href="/wiki/Self-insurance" title="Self-insurance">self-insure</a> through saving money for possible future losses.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24">&#91;24&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Insurability">Insurability</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=5" title="Edit section: Insurability">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Insurability" title="Insurability">Insurability</a></div>\n<p>Risk which can be insured by private companies typically share seven common characteristics:<sup id="cite_ref-25" class="reference"><a href="#cite_note-25">&#91;25&#93;</a></sup>\n</p>\n<ol><li><b>Large number of similar exposure units</b>: Since insurance operates through pooling resources, the majority of insurance policies cover individual members of large classes, allowing insurers to benefit from the <a href="/wiki/Law_of_large_numbers" title="Law of large numbers">law of large numbers</a> in which predicted losses are similar to the actual losses. Exceptions include <a href="/wiki/Lloyd%27s_of_London" title="Lloyd&#39;s of London">Lloyd\'s of London</a>, which is famous for ensuring the life or health of actors, sports figures, and other famous individuals. However, all exposures will have particular differences, which may lead to different premium rates.</li>\n<li><b>Definite loss</b>: This type of loss takes place at a known time and place, and from a known cause. The classic example involves the death of an insured person on a life-insurance policy. <a href="/wiki/Fire" title="Fire">Fire</a>, <a href="/wiki/Traffic_collision" title="Traffic collision"> automobile accidents</a>, and worker injuries may all easily meet this criterion. Other types of losses may only be definite in theory. <a href="/wiki/Occupational_disease" title="Occupational disease">Occupational disease</a>, for instance, may involve prolonged exposure to injurious conditions where no specific time, place, or cause is identifiable. Ideally, the time, place, and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements.</li>\n<li><b>Accidental loss</b>: The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be pure, in the sense that it results from an event for which there is only the opportunity for cost. Events that contain speculative elements such as ordinary business risks or even purchasing a lottery ticket are generally not considered insurable.</li>\n<li><b>Large loss</b>: The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. For small losses, these latter costs may be several times the size of the expected cost of losses. There is hardly any point in paying such costs unless the protection offered has real value to a buyer.</li>\n<li><b>Affordable premium</b>: If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, then it is not likely that insurance will be purchased, even if on offer. Furthermore, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer. If there is no such chance of loss, then the transaction may have the form of insurance, but not the substance (see the U.S. <a href="/wiki/Financial_Accounting_Standards_Board" title="Financial Accounting Standards Board">Financial Accounting Standards Board</a> pronouncement number 113: "Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts").</li>\n<li><b>Calculable loss</b>: There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim.</li>\n<li><b>Limited risk of catastrophically large losses</b>: Insurable losses are ideally <a href="/wiki/Independence_(probability_theory)" title="Independence (probability theory)"> independent</a> and non-catastrophic, meaning that the losses do not happen all at once and individual losses are not severe enough to bankrupt the insurer; insurers may prefer to limit their exposure to a loss from a single event to some small portion of their capital base. <a href="/wiki/Capital_(economics)" title="Capital (economics)">Capital</a> constrains insurers\' ability to sell <a href="/wiki/Earthquake_insurance" title="Earthquake insurance">earthquake insurance</a> as well as wind insurance in <a href="/wiki/Tropical_cyclone" title="Tropical cyclone"> hurricane</a> zones. In the United States, the federal government insures <a href="/wiki/Flood_insurance" title="Flood insurance">flood risk</a>. In commercial fire insurance, it is possible to find single properties whose total exposed value is well in excess of any individual insurer\'s capital constraint. Such properties are generally shared among several insurers or are insured by a single insurer which syndicates the risk into the <a href="/wiki/Reinsurance" title="Reinsurance">reinsurance</a> market.</li></ol>\n<h3><span class="mw-headline" id="Legal">Legal</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=6" title="Edit section: Legal">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>When a company insures an individual entity, there are basic legal requirements and regulations. Several commonly cited legal principles of insurance include:<sup id="cite_ref-26" class="reference"><a href="#cite_note-26">&#91;26&#93;</a></sup>\n</p>\n<ol><li><a href="/wiki/Indemnity" title="Indemnity">Indemnity</a> \xe2\x80\x93 the insurance company indemnifies or compensates, the insured in the case of certain losses only up to the insured\'s interest.</li>\n<li>Benefit insurance \xe2\x80\x93 as it is stated in the study books of The Chartered Insurance Institute, the insurance company does not have the right of recovery from the party who caused the injury and is to compensate the Insured regardless of the fact that Insured had already sued the negligent party for the damages (for example, personal accident insurance)</li>\n<li><a href="/wiki/Insurable_interest" title="Insurable interest">Insurable interest</a> \xe2\x80\x93 the insured typically must directly suffer from the loss.  Insurable interest must exist whether property insurance or insurance on a person is involved.  The concept requires that the insured have a "stake" in the loss or damage to the life or property insured.  What that "stake" is will be determined by the kind of insurance involved and the nature of the property ownership or relationship between the persons.  The requirement of an insurable interest is what distinguishes insurance from <a href="/wiki/Gambling" title="Gambling">gambling</a>.</li>\n<li><a href="/wiki/Good_faith_(law)" title="Good faith (law)">Utmost good faith</a> \xe2\x80\x93 (<a href="/wiki/Uberrima_fides" title="Uberrima fides">Uberrima fides</a>) the insured and the insurer are bound by a <a href="/wiki/Good_faith_(law)" title="Good faith (law)">good faith</a> bond of honesty and fairness.  Material facts must be disclosed.</li>\n<li>Contribution \xe2\x80\x93 insurers which have similar obligations to the insured contribute in the indemnification, according to some method.</li>\n<li>Subrogation \xe2\x80\x93 the insurance company acquires legal rights to pursue recoveries on behalf of the insured; for example, the insurer may sue those liable for the insured\'s loss. The Insurers can waive their subrogation rights by using the special clauses.</li>\n<li>Causa proxima, or <a href="/wiki/Proximate_cause" title="Proximate cause">proximate cause</a> \xe2\x80\x93 the cause of loss (the peril) must be covered under the insuring agreement of the policy, and the dominant cause must not be <a href="/wiki/Exclusion_clause" title="Exclusion clause">excluded</a></li>\n<li>Mitigation \xe2\x80\x93 In case of any loss or casualty, the asset owner must attempt to keep loss to a minimum, as if the asset was not insured.</li></ol>\n<h3><span class="mw-headline" id="Indemnification">Indemnification</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=7" title="Edit section: Indemnification">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Indemnity" title="Indemnity">Indemnity</a></div>\n<p>To "indemnify" means to make whole again, or to be reinstated to the position that one was in, to the extent possible, prior to the happening of a specified event or peril. Accordingly, <a href="/wiki/Life_insurance" title="Life insurance">life insurance</a> is generally not considered to be indemnity insurance, but rather "contingent" insurance (i.e., a claim arises on the occurrence of a specified event). There are generally three types of insurance contracts that seek to indemnify an insured:\n</p>\n<ol><li>A "reimbursement" policy</li>\n<li>A "pay on behalf" or "on behalf of policy"<sup id="cite_ref-KulpHall_27-0" class="reference"><a href="#cite_note-KulpHall-27">&#91;27&#93;</a></sup></li>\n<li>An "indemnification" policy</li></ol>\n<p>From an insured\'s standpoint, the result is usually the same: the insurer pays the loss and claims expenses.\n</p><p>If the Insured has a "reimbursement" policy, the insured can be required to pay for a loss and then be "reimbursed" by the insurance carrier for the loss and out of pocket costs including, with the permission of the insurer, claim expenses.<sup id="cite_ref-KulpHall_27-1" class="reference"><a href="#cite_note-KulpHall-27">&#91;27&#93;</a></sup><sup id="cite_ref-28" class="reference"><a href="#cite_note-28">&#91;note 1&#93;</a></sup>\n</p><p>Under a "pay on behalf" policy, the insurance carrier would defend and pay a claim on behalf of the insured who would not be out of pocket for anything. Most modern liability insurance is written on the basis of "pay on behalf" language, which enables the insurance carrier to manage and control the claim.\n</p><p>Under an "indemnification" policy, the insurance carrier can generally either "reimburse" or "pay on behalf of", whichever is more beneficial to it and the insured in the claim handling process.\n</p><p>An entity seeking to transfer risk (an individual, corporation, or association of any type, etc.) becomes the "insured" party once risk is assumed by an "insurer", the insuring party, by means of a <a href="/wiki/Contract" title="Contract">contract</a>, called an <a href="/wiki/Insurance_policy" title="Insurance policy">insurance policy</a>. Generally, an insurance contract includes, at a minimum, the following elements: identification of participating parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage, the particular loss event covered, the amount of coverage (i.e., the amount to be paid to the insured or beneficiary in the event of a loss), and <a href="/wiki/Exclusion_clause" title="Exclusion clause">exclusions</a> (events not covered). An insured is thus said to be "<a href="/wiki/Indemnity" title="Indemnity">indemnified</a>" against the loss covered in the policy.\n</p><p>When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium. Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims \xe2\x80\x93 in theory for a relatively few claimants \xe2\x80\x93 and for <a href="/wiki/Overhead_(business)" title="Overhead (business)">overhead</a> costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer\'s <a href="/wiki/Profit_(accounting)" title="Profit (accounting)">profit</a>.\n</p>\n<h3><span class="mw-headline" id="Exclusions">Exclusions</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=8" title="Edit section: Exclusions">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Policies typically include a number of exclusions, including typically:\n</p>\n<ul><li><a href="/wiki/Nuclear_exclusion_clause" title="Nuclear exclusion clause">Nuclear exclusion clause</a>, excluding damage caused by nuclear and radiation accidents</li>\n<li><a href="/wiki/War_exclusion_clause" title="War exclusion clause">War exclusion clause</a>, excluding damage from acts of war or terrorism.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29">&#91;28&#93;</a></sup><sup id="cite_ref-30" class="reference"><a href="#cite_note-30">&#91;29&#93;</a></sup></li></ul>\n<p>Insurers may prohibit certain activities which are considered dangerous and therefore excluded from coverage. One system for classifying activities according to whether they are authorised by insurers refers to "green light" approved activities and events, "yellow light" activities and events which require insurer consultation and/or waivers of liability, and "red light" activities and events which are prohibited and outside the scope of insurance cover.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31">&#91;30&#93;</a></sup>\n</p>\n<h2><span class="mw-headline" id="Social_effects">Social effects</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=9" title="Edit section: Social effects">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<p>Insurance can have various effects on society through the way that it changes who bears the cost of losses and damage. On one hand it can increase fraud; on the other it can help societies and individuals prepare for catastrophes and mitigate the effects of catastrophes on both households and societies.\n</p><p>Insurance can influence the probability of losses through <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a>, <a href="/wiki/Insurance_fraud" title="Insurance fraud">insurance fraud</a>, and preventive steps by the insurance company. Insurance scholars have typically used <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a> to refer to the increased loss due to unintentional carelessness and insurance fraud to refer to increased risk due to intentional carelessness or indifference.<sup id="cite_ref-ZweifelEisen2012_32-0" class="reference"><a href="#cite_note-ZweifelEisen2012-32">&#91;31&#93;</a></sup> Insurers attempt to address carelessness through inspections, policy provisions requiring certain types of maintenance, and possible discounts for loss mitigation efforts. While in theory insurers could encourage investment in loss reduction, some commentators have argued that in practice insurers had historically not aggressively pursued loss control measures\xe2\x80\x94particularly to prevent disaster losses such as hurricanes\xe2\x80\x94because of concerns over rate reductions and legal battles. However, since about 1996 insurers have begun to take a more active role in loss mitigation, such as through <a href="/wiki/Building_code" title="Building code">building codes</a>.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33">&#91;32&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Methods_of_insurance">Methods of insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=10" title="Edit section: Methods of insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>According to the study books of The Chartered Insurance Institute, there are variant methods of insurance as follows:\n</p>\n<ol><li>Co-insurance \xe2\x80\x93 risks shared between insurers</li>\n<li>Dual insurance \xe2\x80\x93 having two or more policies with overlapping coverage of a risk (both the individual policies would not pay separately \xe2\x80\x93 under a concept named contribution, they would contribute together to make up the policyholder\'s losses. However, in case of contingency insurances such as life insurance, dual payment is allowed)</li>\n<li>Self-insurance \xe2\x80\x93 situations where risk is not transferred to insurance companies and solely retained by the entities or individuals themselves</li>\n<li>Reinsurance \xe2\x80\x93 situations when the insurer passes some part of or all risks to another Insurer, called the reinsurer</li></ol>\n<p><br />\n</p>\n<h2><span id="Insurers.27_business_model"></span><span class="mw-headline" id="Insurers\'_business_model">Insurers\' business model</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=11" title="Edit section: Insurers&#039; business model">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><div id="mwe_player_0" class="PopUpMediaTransform" style="width:220px;" videopayload="&lt;div class=&quot;mediaContainer&quot; 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type=&quot;video/webm; codecs=&amp;quot;vp8, vorbis&amp;quot;&quot; data-title=&quot;WebM (360P)&quot; data-shorttitle=&quot;WebM 360P&quot; data-transcodekey=&quot;360p.webm&quot; data-width=&quot;640&quot; data-height=&quot;360&quot; data-bandwidth=&quot;523216&quot; data-framerate=&quot;23.976&quot;/&gt;&lt;source src=&quot;//upload.wikimedia.org/wikipedia/commons/transcoded/3/3a/Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm/Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm.360p.vp9.webm&quot; type=&quot;video/webm; codecs=&amp;quot;vp9, opus&amp;quot;&quot; data-title=&quot;VP9 (360P)&quot; data-shorttitle=&quot;VP9 360P&quot; data-transcodekey=&quot;360p.vp9.webm&quot; data-width=&quot;640&quot; data-height=&quot;360&quot; data-bandwidth=&quot;627480&quot; data-framerate=&quot;23.976&quot;/&gt;&lt;/video&gt;&lt;/div&gt;"><img alt="File:Accidents will happen William-H.-Watson-Universal-Star-Featurette-1922.webm" style="width:220px;height:123px" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/3a/Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm/220px--Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm.jpg" /><a href="//upload.wikimedia.org/wikipedia/commons/3/3a/Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm" title="Play media" target="new"><span class="play-btn-large"><span class="mw-tmh-playtext">Play media</span></span></a></div>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Accidents_will_happen_William-H.-Watson-Universal-Star-Featurette-1922.webm" class="internal" title="Enlarge"></a></div><i>Accidents will happen</i> (William H. Watson, 1922) is a slapstick silent film about the methods and mishaps of an insurance broker. Collection <a href="/wiki/EYE_Film_Institute_Netherlands" title="EYE Film Institute Netherlands">EYE Film Institute Netherlands</a>.</div></div></div>\n<p>Insurers may use the <a href="/wiki/Subscription_business_model" title="Subscription business model">subscription business model</a>, collecting premium payments periodically in return for on-going and/or <a href="/wiki/Compound_interest" title="Compound interest">compounding</a> benefits offered to policyholders.\n</p>\n<h3><span class="mw-headline" id="Underwriting_and_investing">Underwriting and investing</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=12" title="Edit section: Underwriting and investing">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Insurers\' business model aims to collect more in premium and investment income than is paid out in losses, and to also offer a competitive price which consumers will accept. Profit can be reduced to a simple equation:\n</p>\n<dl><dd>Profit = <a href="/wiki/Cancellation_(insurance)" title="Cancellation (insurance)">earned premium</a> + investment income \xe2\x80\x93 incurred loss \xe2\x80\x93 underwriting expenses.</dd></dl>\n<p>Insurers make money in two ways:\n</p>\n<ul><li>Through <a href="/wiki/Underwriting" title="Underwriting">underwriting</a>, the process by which insurers select the risks to insure and decide how much in premiums to charge for accepting those risks, and taking the brunt of the risk should it come to fruition.</li>\n<li>By <a href="/wiki/Investment" title="Investment">investing</a> the premiums they collect from insured parties</li></ul>\n<p>The most complicated aspect of insuring is the <a href="/wiki/Actuarial_science" title="Actuarial science">actuarial science</a> of ratemaking (price-setting) of policies, which uses <a href="/wiki/Statistics" title="Statistics">statistics</a> and <a href="/wiki/Probability" title="Probability">probability</a> to approximate the rate of future claims based on a given risk. After producing rates, the insurer will use discretion to reject or accept risks through the underwriting process.\n</p><p>At the most basic level, initial rate-making involves looking at the <a href="/wiki/Frequency" title="Frequency">frequency</a> and <a href="https://en.wiktionary.org/wiki/severity" class="extiw" title="wikt:severity">severity</a> of insured perils and the expected average payout resulting from these perils. Thereafter an insurance company will collect historical loss-data, bring the loss data to <a href="/wiki/Present_value" title="Present value">present value</a>, and compare these prior losses to the premium collected in order to assess rate adequacy.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34">&#91;33&#93;</a></sup> <a href="/wiki/Loss_ratio" title="Loss ratio">Loss ratios</a> and expense loads are also used. Rating for different risk characteristics involves - at the most basic level - comparing the losses with "loss relativities"\xe2\x80\x94a policy with twice as many losses would, therefore, be charged twice as much. More complex <a href="/wiki/Multivariate_analysis" class="mw-redirect" title="Multivariate analysis">multivariate analyses</a> are sometimes used when multiple characteristics are involved and a univariate analysis could produce confounded results. Other statistical methods may be used in assessing the probability of future losses.\n</p><p>Upon termination of a given policy, the amount of premium collected minus the amount paid out in claims is the insurer\'s <a href="/wiki/Underwriting_profit" title="Underwriting profit">underwriting profit</a> on that policy. Underwriting performance is measured by something called the "combined ratio", which is the ratio of expenses/losses to premiums.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35">&#91;34&#93;</a></sup> A combined ratio of less than 100% indicates an underwriting profit, while anything over 100 indicates an underwriting loss. A company with a combined ratio over 100% may nevertheless remain profitable due to investment earnings.\n</p><p>Insurance companies earn <a href="/wiki/Investment" title="Investment">investment</a> profits on "float". Float, or available reserve, is the amount of money on hand at any given moment that an insurer has collected in insurance premiums but has not paid out in claims. Insurers start investing insurance premiums as soon as they are collected and continue to earn interest or other income on them until claims are paid out. The <a href="/wiki/Association_of_British_Insurers" title="Association of British Insurers">Association of British Insurers</a> (grouping together 400 insurance companies and 94% of UK insurance services) has almost 20% of the investments in the <a href="/wiki/London_Stock_Exchange" title="London Stock Exchange">London Stock Exchange</a>.<sup id="cite_ref-36" class="reference"><a href="#cite_note-36">&#91;35&#93;</a></sup> In 2007, U.S. industry profits from float totaled $58 billion. In a 2009 letter to investors, Warren Buffett wrote, "we were <i>paid</i> $2.8 billion to hold our float in 2008".<sup id="cite_ref-37" class="reference"><a href="#cite_note-37">&#91;36&#93;</a></sup>\n</p><p>In the <a href="/wiki/United_States" title="United States">United States</a>, the underwriting loss of <a href="/wiki/Property_insurance" title="Property insurance">property</a> and <a href="/wiki/Casualty_insurance" title="Casualty insurance">casualty insurance</a> companies was $142.3 billion in the five years ending 2003. But overall profit for the same period was $68.4 billion, as the result of float. Some insurance-industry insiders, most notably <a href="/wiki/Maurice_R._Greenberg" title="Maurice R. Greenberg">Hank Greenberg</a>, do not believe that it is possible to sustain a profit from float forever without an underwriting profit as well, but this opinion is not universally held. Reliance on float for profit has led some industry experts to call insurance companies "investment companies that raise the money for their investments by selling insurance".<sup id="cite_ref-38" class="reference"><a href="#cite_note-38">&#91;37&#93;</a></sup>\n</p><p>Naturally, the float method is difficult to carry out in an <a href="/wiki/Depression_(economics)" class="mw-redirect" title="Depression (economics)">economically depressed</a> period. <a href="/wiki/Bear_market" class="mw-redirect" title="Bear market">Bear markets</a> do cause insurers to shift away from investments and to toughen up their underwriting standards, so a poor economy generally means high insurance-premiums. This tendency to swing between profitable and unprofitable periods over time is commonly known<sup class="noprint Inline-Template" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Manual_of_Style/Words_to_watch#Unsupported_attributions" title="Wikipedia:Manual of Style/Words to watch"><span title="The material near this tag may use weasel words or too-vague attribution. (February 2020)">by whom?</span></a></i>&#93;</sup> as the <a href="/wiki/Insurance_cycle" title="Insurance cycle">underwriting, or insurance, cycle</a>.<sup id="cite_ref-39" class="reference"><a href="#cite_note-39">&#91;38&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Claims">Claims</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=13" title="Edit section: Claims">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Claims and loss handling is the materialized utility of insurance; it is the actual "product" paid for.  Claims may be filed by insureds directly with the insurer or through <a href="/wiki/Insurance_broker" title="Insurance broker">brokers or agents</a>.  The insurer may require that the claim be filed on its own proprietary forms, or may accept claims on a standard industry form, such as those produced by <a href="/wiki/ACORD" title="ACORD">ACORD</a>.\n</p><p>Insurance company claims departments employ a large number of <a href="/wiki/Claims_adjuster" title="Claims adjuster">claims adjusters</a> supported by a staff of <a href="/wiki/Records_management" title="Records management">records management</a> and <a href="/wiki/Data_entry_clerk" title="Data entry clerk">data entry clerks</a>.  Incoming claims are classified based on severity and are assigned to adjusters whose settlement authority varies with their knowledge and experience.  The adjuster undertakes an investigation of each claim, usually in close cooperation with the insured, determines if coverage is available under the terms of the insurance contract, and if so, the reasonable monetary value of the claim, and authorizes payment.\n</p><p>The policyholder may hire their own <a href="/wiki/Public_adjuster" title="Public adjuster">public adjuster</a> to negotiate the settlement with the insurance company on their behalf. For policies that are complicated, where claims may be complex, the insured may take out a separate insurance policy add-on, called loss recovery insurance, which covers the cost of a public adjuster in the case of a claim.\n</p><p>Adjusting liability insurance claims is particularly difficult because there is a third party involved, the <a href="/wiki/Plaintiff" title="Plaintiff">plaintiff</a>, who is under no contractual obligation to cooperate with the insurer and may in fact regard the insurer as a <a href="/wiki/Deep_pocket" title="Deep pocket">deep pocket</a>. The adjuster must obtain legal counsel for the insured (either inside "house" counsel or outside "panel" counsel), monitor litigation that may take years to complete, and appear in person or over the telephone with settlement authority at a mandatory settlement conference when requested by the judge.\n</p><p>If a claims adjuster suspects under-insurance, the <a href="/wiki/Condition_of_average" title="Condition of average">condition of average</a> may come into play to limit the insurance company\'s exposure.\n</p><p>In managing the claims handling function, insurers seek to balance the elements of customer satisfaction, administrative handling expenses, and claims overpayment leakages.  As part of this balancing act, <a href="/wiki/Insurance_fraud" title="Insurance fraud">fraudulent insurance practices</a> are a major business risk that must be managed and overcome. Disputes between insurers and insureds over the validity of claims or claims handling practices occasionally escalate into litigation (see <a href="/wiki/Insurance_bad_faith" title="Insurance bad faith">insurance bad faith</a>).\n</p>\n<h3><span class="mw-headline" id="Marketing">Marketing</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=14" title="Edit section: Marketing">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Insurers will often use <a href="/wiki/Agency_(law)" class="mw-redirect" title="Agency (law)">insurance agents</a> to initially market or <a href="/wiki/Underwrite" class="mw-redirect" title="Underwrite">underwrite</a> their customers. Agents can be captive, meaning they write only for one company, or independent, meaning that they can issue policies from several companies. The existence and success of companies using insurance agents is likely due to the availability of improved and personalised services. Companies also use Broking firms, Banks and other corporate entities (like Self Help Groups, Microfinance Institutions, NGOs, etc.) to market their products.<sup id="cite_ref-40" class="reference"><a href="#cite_note-40">&#91;39&#93;</a></sup>\n</p>\n<h2><span class="mw-headline" id="Types">Types</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=15" title="Edit section: Types">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<p>Any risk that can be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as perils. An insurance policy will set out in detail which perils are covered by the policy and which are not. Below are non-exhaustive lists of the many different types of insurance that exist. A single policy may cover risks in one or more of the categories set out below. For example, <a href="/wiki/Vehicle_insurance" title="Vehicle insurance">vehicle insurance</a> would typically cover both the property risk (theft or damage to the vehicle) and the liability risk (legal claims arising from an <a href="/wiki/Traffic_collision" title="Traffic collision">accident</a>). A <a href="/wiki/Home_insurance" title="Home insurance">home insurance</a> policy in the United States typically includes coverage for damage to the home and the owner\'s belongings, certain legal claims against the owner, and even a small amount of coverage for medical expenses of guests who are injured on the owner\'s property.\n</p><p><a href="/wiki/Business" title="Business">Business</a> insurance can take a number of different forms, such as the various kinds of professional liability insurance, also called professional indemnity (PI), which are discussed below under that name; and the <a href="/wiki/Business_owner%27s_policy" title="Business owner&#39;s policy">business owner\'s policy</a> (BOP), which packages into one policy many of the kinds of coverage that a business owner needs, in a way analogous to how homeowners\' insurance packages the coverages that a homeowner needs.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41">&#91;40&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Auto_insurance">Auto insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=16" title="Edit section: Auto insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Vehicle_insurance" title="Vehicle insurance">Vehicle insurance</a></div>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:Car_crash_1.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/220px-Car_crash_1.jpg" decoding="async" width="220" height="165" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/330px-Car_crash_1.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e1/Car_crash_1.jpg/440px-Car_crash_1.jpg 2x" data-file-width="2048" data-file-height="1536" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Car_crash_1.jpg" class="internal" title="Enlarge"></a></div>A wrecked vehicle in <a href="/wiki/Copenhagen" title="Copenhagen">Copenhagen</a></div></div></div>\n<p>Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a <a href="/wiki/Traffic_collision" title="Traffic collision">traffic collision</a>.\n</p><p>Coverage typically includes:\n</p>\n<ul><li>Property coverage, for damage to or theft of the car</li>\n<li>Liability coverage, for the legal responsibility to others for bodily injury or property damage</li>\n<li>Medical coverage, for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses</li></ul>\n<h3><span class="mw-headline" id="Gap_insurance">Gap insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=17" title="Edit section: Gap insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Gap_insurance" class="mw-redirect" title="Gap insurance">Gap insurance</a></div>\n<p>Gap insurance covers the excess amount on your auto loan in an instance where your insurance company does not cover the entire loan. Depending on the company\'s specific policies it might or might not cover the deductible as well. This coverage is marketed for those who put low <a href="/wiki/Down_payment" title="Down payment">down payments</a>, have high interest rates on their loans, and those with 60-month or longer terms. Gap insurance is typically offered by a finance company when the vehicle owner purchases their vehicle, but many auto insurance companies offer this coverage to consumers as well.\n</p>\n<h3><span class="mw-headline" id="Health_insurance">Health insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=18" title="Edit section: Health insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main articles: <a href="/wiki/Health_insurance" title="Health insurance">Health insurance</a> and <a href="/wiki/Dental_insurance" title="Dental insurance">Dental insurance</a></div>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:Great_western_hospital.JPG" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/28/Great_western_hospital.JPG/220px-Great_western_hospital.JPG" decoding="async" width="220" height="84" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/28/Great_western_hospital.JPG/330px-Great_western_hospital.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/28/Great_western_hospital.JPG/440px-Great_western_hospital.JPG 2x" data-file-width="2458" data-file-height="942" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Great_western_hospital.JPG" class="internal" title="Enlarge"></a></div>Great Western Hospital, <a href="/wiki/Swindon" title="Swindon">Swindon</a></div></div></div>\n<p>Health insurance policies cover the cost of medical treatments. Dental insurance, like medical insurance, protects policyholders for dental costs. In most developed countries, all citizens receive some health coverage from their governments, paid through taxation. In most countries, health insurance is often part of an employer\'s benefits.\n</p>\n<h3><span class="mw-headline" id="Income_protection_insurance">Income protection insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=19" title="Edit section: Income protection insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:Pipe_installation_2.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ee/Pipe_installation_2.jpg/220px-Pipe_installation_2.jpg" decoding="async" width="220" height="176" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ee/Pipe_installation_2.jpg/330px-Pipe_installation_2.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ee/Pipe_installation_2.jpg/440px-Pipe_installation_2.jpg 2x" data-file-width="3960" data-file-height="3168" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Pipe_installation_2.jpg" class="internal" title="Enlarge"></a></div><a href="/wiki/Workers%27_compensation" title="Workers&#39; compensation">Workers\' compensation</a>, or employers\' liability insurance, is compulsory in some countries</div></div></div>\n<ul><li><a href="/wiki/Disability_insurance" title="Disability insurance">Disability insurance</a> policies provide financial support in the event of the policyholder becoming unable to work because of disabling illness or injury. It provides monthly support to help pay such obligations as <a href="/wiki/Mortgage_loan" title="Mortgage loan">mortgage loans</a> and <a href="/wiki/Credit_card" title="Credit card">credit cards</a>. Short-term and long-term disability policies are available to individuals, but considering the expense, long-term policies are generally obtained only by those with at least six-figure incomes, such as doctors, lawyers, etc. Short-term disability insurance covers a person for a period typically up to six months, paying a stipend each month to cover medical bills and other necessities.</li>\n<li>Long-term disability insurance covers an individual\'s expenses for the long term, up until such time as they are considered permanently disabled and thereafter Insurance companies will often try to encourage the person back into employment in preference to and before declaring them unable to work at all and therefore totally disabled.</li>\n<li><a href="/wiki/Business_overhead_expense_disability_insurance" title="Business overhead expense disability insurance">Disability overhead insurance</a> allows business owners to cover the overhead expenses of their business while they are unable to work.</li>\n<li><a href="/wiki/Total_permanent_disability_insurance" title="Total permanent disability insurance">Total permanent disability insurance</a> provides benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance.</li>\n<li><a href="/wiki/Workers%27_compensation" title="Workers&#39; compensation">Workers\' compensation</a> insurance replaces all or part of a worker\'s <a href="/wiki/Wage" title="Wage">wages</a> lost and accompanying medical expenses incurred because of a job-related injury.</li></ul>\n<h3><span class="mw-headline" id="Casualty_insurance">Casualty insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=20" title="Edit section: Casualty insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Casualty_insurance" title="Casualty insurance">Casualty insurance</a></div>\n<p>Casualty insurance insures against accidents, not necessarily tied to any specific property. It is a broad spectrum of insurance that a number of other types of insurance could be classified, such as auto, workers compensation, and some liability insurances.\n</p>\n<ul><li>Crime insurance is a form of casualty insurance that covers the policyholder against losses arising from the <a href="/wiki/Criminal_act" class="mw-redirect" title="Criminal act">criminal acts</a> of third parties.  For example, a company can obtain crime insurance to cover losses arising from <a href="/wiki/Theft" title="Theft">theft</a> or <a href="/wiki/Embezzlement" title="Embezzlement">embezzlement</a>.</li>\n<li><a href="/wiki/Terrorism_insurance" title="Terrorism insurance">Terrorism insurance</a> provides protection against any loss or damage caused by <a href="/wiki/Terrorism" title="Terrorism">terrorist</a> activities. In the United States in the wake of <a href="/wiki/September_11_attacks" title="September 11 attacks">9/11</a>, the <a href="/wiki/Terrorism_Risk_Insurance_Act" title="Terrorism Risk Insurance Act">Terrorism Risk Insurance Act</a> 2002 (TRIA) set up a federal program providing a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism. The program was extended until the end of 2014 by the Terrorism Risk Insurance Program Reauthorization Act 2007 (TRIPRA).</li>\n<li><a href="/wiki/Kidnap_and_ransom_insurance" title="Kidnap and ransom insurance">Kidnap and ransom insurance</a> is designed to protect individuals and corporations operating in high-risk areas around the world against the perils of kidnap, extortion, wrongful detention and hijacking.</li>\n<li><a href="/wiki/Political_risk_insurance" title="Political risk insurance">Political risk insurance</a> is a form of casualty insurance that can be taken out by businesses with operations in countries in which there is a risk that <a href="/wiki/Revolution" title="Revolution">revolution</a> or other <a href="/wiki/Politics" title="Politics">political</a> conditions could result in a loss.</li></ul>\n<h3><span class="mw-headline" id="Life_insurance">Life insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=21" title="Edit section: Life insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Life_insurance" title="Life insurance">Life insurance</a></div>\n<div class="thumb tright"><div class="thumbinner" style="width:182px;"><a href="/wiki/File:Amicable_Society_for_a_Perpetual_Assurance_Office,_Serjeants%27_Inn,_Fleet_Street,_London,_1801.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg/180px-Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg" decoding="async" width="180" height="255" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg/270px-Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg/360px-Amicable_Society_for_a_Perpetual_Assurance_Office%2C_Serjeants%27_Inn%2C_Fleet_Street%2C_London%2C_1801.jpg 2x" data-file-width="441" data-file-height="624" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Amicable_Society_for_a_Perpetual_Assurance_Office,_Serjeants%27_Inn,_Fleet_Street,_London,_1801.jpg" class="internal" title="Enlarge"></a></div><a href="/wiki/Amicable_Society_for_a_Perpetual_Assurance_Office" title="Amicable Society for a Perpetual Assurance Office">Amicable Society for a Perpetual Assurance Office</a>, Serjeants\' Inn, Fleet Street, <a href="/wiki/London" title="London">London</a>, 1801</div></div></div>\n<p>Life insurance provides a monetary benefit to a decedent\'s family or other designated beneficiary, and may specifically provide for income to an insured person\'s family, burial, funeral and other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an <a href="/wiki/Annuity_(financial_contracts)" class="mw-redirect" title="Annuity (financial contracts)">annuity</a>. In most states, a person cannot purchase a policy on another person without their knowledge.\n</p><p>Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies, are regulated as insurance, and require the same kinds of actuarial and investment management expertise that life insurance requires. Annuities and <a href="/wiki/Pension" title="Pension">pensions</a> that pay a benefit for life are sometimes regarded as insurance against the possibility that a <a href="/wiki/Retirement" title="Retirement">retiree</a> will outlive his or her financial resources. In that sense, they are the complement of life insurance and, from an underwriting perspective, are the mirror image of life insurance.\n</p><p>Certain life insurance contracts accumulate <a href="/wiki/Cash" title="Cash">cash</a> values, which may be taken by the insured if the policy is surrendered or which may be borrowed against. Some policies, such as annuities and <a href="/wiki/Endowment_policy" title="Endowment policy">endowment policies</a>, are financial instruments to accumulate or <a href="/wiki/Liquidation" title="Liquidation">liquidate</a> <a href="/wiki/Wealth" title="Wealth">wealth</a> when it is needed.\n</p><p>In many countries, such as the United States and the UK, the <a href="/wiki/Tax_law" title="Tax law">tax law</a> provides that the interest on this cash value is not taxable under certain circumstances. This leads to widespread use of life insurance as a tax-efficient method of <a href="/wiki/Saving" title="Saving">saving</a> as well as protection in the event of early death.\n</p><p>In the United States, the tax on interest income on life insurance policies and annuities is generally deferred. However, in some cases the benefit derived from <a href="/wiki/Tax_deferral" title="Tax deferral">tax deferral</a> may be offset by a low return. This depends upon the insuring company, the type of policy and other variables (mortality, market return, etc.). Moreover, other income tax saving vehicles (e.g., IRAs, 401(k) plans, Roth IRAs) may be better alternatives for value accumulation.\n</p>\n<h3><span class="mw-headline" id="Burial_insurance">Burial insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=22" title="Edit section: Burial insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Burial insurance is a very old type of life insurance which is paid out upon death to cover final expenses, such as the cost of a <a href="/wiki/Funeral" title="Funeral">funeral</a>. The <a href="/wiki/Ancient_Greece" title="Ancient Greece">Greeks</a> and <a href="/wiki/Ancient_Rome" title="Ancient Rome">Romans</a> introduced burial insurance c.&#160;600 CE when they organized <a href="/wiki/Guild" title="Guild">guilds</a> called "benevolent societies" which cared for the surviving families and paid funeral expenses of members upon death. Guilds in the <a href="/wiki/Middle_Ages" title="Middle Ages">Middle Ages</a> served a similar purpose, as did friendly societies during Victorian times.\n</p>\n<h3><span class="mw-headline" id="Property">Property</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=23" title="Edit section: Property">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Property_insurance" title="Property insurance">Property insurance</a></div>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:Tornado_Damage,_Illinois_2.JPG" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Tornado_Damage%2C_Illinois_2.JPG/220px-Tornado_Damage%2C_Illinois_2.JPG" decoding="async" width="220" height="147" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Tornado_Damage%2C_Illinois_2.JPG/330px-Tornado_Damage%2C_Illinois_2.JPG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Tornado_Damage%2C_Illinois_2.JPG/440px-Tornado_Damage%2C_Illinois_2.JPG 2x" data-file-width="1200" data-file-height="800" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Tornado_Damage,_Illinois_2.JPG" class="internal" title="Enlarge"></a></div>This <a href="/wiki/Tornado" title="Tornado">tornado</a> damage to an <a href="/wiki/Illinois" title="Illinois">Illinois</a> home would be considered an "<a href="/wiki/Act_of_God" title="Act of God">Act of God</a>" for insurance purposes</div></div></div>\n<p>Property insurance provides protection against risks to property, such as <a href="/wiki/Fire" title="Fire">fire</a>, <a href="/wiki/Theft" title="Theft">theft</a> or <a href="/wiki/Weather" title="Weather">weather</a> damage. This may include specialized forms of insurance such as fire insurance, <a href="/wiki/Flood_insurance" title="Flood insurance">flood insurance</a>, <a href="/wiki/Earthquake_insurance" title="Earthquake insurance">earthquake insurance</a>, <a href="/wiki/Home_insurance" title="Home insurance">home insurance</a>, inland marine insurance or <a href="/wiki/Boiler_insurance" title="Boiler insurance">boiler insurance</a>.\nThe term <i>property insurance</i> may, like casualty insurance, be used as a broad category of various subtypes of insurance, some of which are listed below:\n</p>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:Plane_crash_into_Hudson_River_muchcropped.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Plane_crash_into_Hudson_River_muchcropped.jpg/220px-Plane_crash_into_Hudson_River_muchcropped.jpg" decoding="async" width="220" height="123" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Plane_crash_into_Hudson_River_muchcropped.jpg/330px-Plane_crash_into_Hudson_River_muchcropped.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c8/Plane_crash_into_Hudson_River_muchcropped.jpg/440px-Plane_crash_into_Hudson_River_muchcropped.jpg 2x" data-file-width="822" data-file-height="459" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Plane_crash_into_Hudson_River_muchcropped.jpg" class="internal" title="Enlarge"></a></div><a href="/wiki/US_Airways_Flight_1549" title="US Airways Flight 1549">US Airways Flight 1549</a> was <a href="/wiki/Write-off" title="Write-off">written off</a> after ditching into the <a href="/wiki/Hudson_River" title="Hudson River">Hudson River</a></div></div></div>\n<ul><li><a href="/wiki/Aviation_insurance" title="Aviation insurance">Aviation insurance</a> protects <a href="/wiki/Aircraft" title="Aircraft">aircraft</a> hulls and spares, and associated liability risks, such as passenger and third-party liability. <a href="/wiki/Airport" title="Airport">Airports</a> may also appear under this subcategory, including air traffic control and refuelling operations for international airports through to smaller domestic exposures.</li>\n<li><a href="/wiki/Boiler_insurance" title="Boiler insurance">Boiler insurance</a> (also known as boiler and machinery insurance, or equipment breakdown insurance) insures against accidental physical damage to boilers, equipment or machinery.</li>\n<li><a href="/wiki/Builder%27s_risk_insurance" title="Builder&#39;s risk insurance">Builder\'s risk insurance</a> insures against the risk of physical loss or damage to property during construction. Builder\'s risk insurance is typically written on an "all risk" basis covering damage arising from any cause (including the negligence of the insured) not otherwise expressly excluded. Builder\'s risk insurance is coverage that protects a person\'s or organization\'s insurable interest in materials, fixtures or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from an insured peril.<sup id="cite_ref-42" class="reference"><a href="#cite_note-42">&#91;41&#93;</a></sup></li>\n<li><a href="/wiki/Crop_insurance" title="Crop insurance">Crop insurance</a> may be purchased by farmers to reduce or manage various risks associated with growing crops. Such risks include crop loss or damage caused by weather, hail, drought, frost damage, pests<sup id="cite_ref-Ali-et-al-2020_43-0" class="reference"><a href="#cite_note-Ali-et-al-2020-43">&#91;42&#93;</a></sup> (including especially insects), or disease<sup id="cite_ref-44" class="reference"><a href="#cite_note-44">&#91;43&#93;</a></sup><sup id="cite_ref-Ali-et-al-2020_43-1" class="reference"><a href="#cite_note-Ali-et-al-2020-43">&#91;42&#93;</a></sup> - some of these being termed <a href="/w/index.php?title=Named_peril&amp;action=edit&amp;redlink=1" class="new" title="Named peril (page does not exist)">named perils</a>.<sup id="cite_ref-Ali-et-al-2020_43-2" class="reference"><a href="#cite_note-Ali-et-al-2020-43">&#91;42&#93;</a></sup> <a href="/wiki/Index-based_insurance" title="Index-based insurance">Index-based insurance</a> uses models of how climate extremes affect crop production to define certain climate triggers that if surpassed have high probabilities of causing substantial crop loss. When harvest losses occur associated with exceeding the climate trigger threshold, the index-insured farmer is entitled to a compensation payment.<sup id="cite_ref-45" class="reference"><a href="#cite_note-45">&#91;44&#93;</a></sup></li>\n<li><a href="/wiki/Earthquake_insurance" title="Earthquake insurance">Earthquake insurance</a> is a form of property insurance that pays the policyholder in the event of an <a href="/wiki/Earthquake" title="Earthquake">earthquake</a> that causes damage to the property. Most ordinary home insurance policies do not cover earthquake damage. Earthquake insurance policies generally feature a high <a href="/wiki/Deductible" title="Deductible">deductible</a>.  Rates depend on location and hence the likelihood of an earthquake, as well as the <a href="/wiki/Earthquake_engineering" title="Earthquake engineering">construction of the home</a>.</li>\n<li><a href="/wiki/Fidelity_bond" title="Fidelity bond">Fidelity bond</a> is a form of casualty insurance that covers policyholders for losses incurred as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.</li></ul>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/7/7b/FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg/220px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg" decoding="async" width="220" height="146" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/7b/FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg/330px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/7b/FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg/440px-FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg 2x" data-file-width="4288" data-file-height="2848" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:FEMA_-_14947_-_Photograph_by_Jocelyn_Augustino_taken_on_08-30-2005_in_Louisiana.jpg" class="internal" title="Enlarge"></a></div><a href="/wiki/Hurricane_Katrina" title="Hurricane Katrina">Hurricane Katrina</a> caused over $80 billion of storm and flood damage</div></div></div>\n<ul><li><a href="/wiki/Flood_insurance" title="Flood insurance">Flood insurance</a> protects against property loss due to flooding. Many U.S. insurers do not provide flood insurance in some parts of the country. In response to this, the federal government created the <a href="/wiki/National_Flood_Insurance_Program" title="National Flood Insurance Program">National Flood Insurance Program</a> which serves as the insurer of last resort.</li>\n<li><a href="/wiki/Home_insurance" title="Home insurance">Home insurance</a>, also commonly called hazard insurance or homeowners insurance (often abbreviated in the real estate industry as HOI), provides coverage for damage or destruction of the policyholder\'s home. In some geographical areas, the policy may exclude certain types of risks, such as flood or earthquake, that require additional coverage. Maintenance-related issues are typically the homeowner\'s responsibility. The policy may include inventory, or this can be bought as a separate policy, especially for people who rent housing. In some countries, insurers offer a package which may include liability and legal responsibility for injuries and property damage caused by members of the household, including pets.<sup id="cite_ref-46" class="reference"><a href="#cite_note-46">&#91;45&#93;</a></sup></li>\n<li><a href="/wiki/Landlords%27_insurance" title="Landlords&#39; insurance">Landlord insurance</a> covers residential or commercial property that is rented to tenants. It also covers the landlord\'s liability for the occupants at the property. Most homeowners\' insurance, meanwhile, cover only owner-occupied homes and not liability or damages related to tenants.<sup id="cite_ref-47" class="reference"><a href="#cite_note-47">&#91;46&#93;</a></sup></li>\n<li><a href="/wiki/Marine_insurance" title="Marine insurance">Marine insurance</a> and marine cargo insurance cover the loss or damage of vessels at sea or on <a href="/wiki/Inland_waterways_of_the_United_States" title="Inland waterways of the United States">inland waterways</a>, and of cargo in transit, regardless of the method of transit. When the owner of the cargo and the carrier are separate corporations, marine cargo insurance typically compensates the owner of cargo for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier or the carrier\'s insurance. Many marine insurance underwriters will include "time element" coverage in such policies, which extends the indemnity to cover loss of profit and other business expenses attributable to the delay caused by a covered loss.</li>\n<li><a href="/wiki/Renters%27_insurance" title="Renters&#39; insurance">Renters\' insurance</a>, often called tenants\' insurance, is an insurance policy that provides some of the benefits of homeowners\' insurance, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a tenant makes to the structure.</li>\n<li>Supplemental natural disaster insurance covers specified expenses after a natural disaster renders the policyholder\'s home uninhabitable. Periodic payments are made directly to the insured until the home is rebuilt or a specified time period has elapsed.</li>\n<li><a href="/wiki/Surety_bond" class="mw-redirect" title="Surety bond">Surety bond</a> insurance is a three-party insurance guaranteeing the performance of the principal.</li></ul>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:WTC_smoking_on_9-11.jpeg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/35/WTC_smoking_on_9-11.jpeg/220px-WTC_smoking_on_9-11.jpeg" decoding="async" width="220" height="165" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/35/WTC_smoking_on_9-11.jpeg/330px-WTC_smoking_on_9-11.jpeg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/35/WTC_smoking_on_9-11.jpeg/440px-WTC_smoking_on_9-11.jpeg 2x" data-file-width="1600" data-file-height="1200" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:WTC_smoking_on_9-11.jpeg" class="internal" title="Enlarge"></a></div>The demand for <a href="/wiki/Terrorism_insurance" title="Terrorism insurance">terrorism insurance</a> surged after <a href="/wiki/September_11_attacks" title="September 11 attacks">9/11</a></div></div></div>\n<ul><li>Volcano insurance is a specialized insurance protecting against damage arising specifically from <a href="/wiki/Volcano" title="Volcano">volcanic eruptions</a>.</li>\n<li>Windstorm insurance is an insurance covering the damage that can be caused by wind events such as <a href="/wiki/Tropical_cyclone" title="Tropical cyclone">hurricanes</a>.</li></ul>\n<h3><span class="mw-headline" id="Liability">Liability</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=24" title="Edit section: Liability">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Liability_insurance" title="Liability insurance">Liability insurance</a></div>\n<p>Liability insurance is a very broad superset that covers legal claims against the insured. Many types of insurance include an aspect of liability coverage. For example, a homeowner\'s insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies against the harm that a crashing car can cause to others\' lives, health, or property. The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict. Liability policies typically cover only the negligence of the insured, and will not apply to results of wilful or intentional acts by the insured.\n</p>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:Sign_of_the_Times-Foreclosure.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Sign_of_the_Times-Foreclosure.jpg/220px-Sign_of_the_Times-Foreclosure.jpg" decoding="async" width="220" height="165" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Sign_of_the_Times-Foreclosure.jpg/330px-Sign_of_the_Times-Foreclosure.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Sign_of_the_Times-Foreclosure.jpg/440px-Sign_of_the_Times-Foreclosure.jpg 2x" data-file-width="3456" data-file-height="2592" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Sign_of_the_Times-Foreclosure.jpg" class="internal" title="Enlarge"></a></div>The <a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">subprime mortgage crisis</a> was the source of many <a href="/wiki/Liability_insurance" title="Liability insurance">liability insurance</a> losses</div></div></div>\n<ul><li><a href="/wiki/Public_liability" title="Public liability">Public liability</a> insurance or general liability insurance covers a business or organization against claims should its operations injure a member of the public or damage their property in some way.</li>\n<li><a href="/wiki/Directors_and_officers_liability_insurance" title="Directors and officers liability insurance">Directors and officers liability insurance</a> (D&amp;O) protects an organization (usually a corporation) from costs associated with litigation resulting from errors made by directors and officers for which they are liable.</li>\n<li>Environmental liability or environmental impairment insurance protects the insured from bodily injury, property damage and cleanup costs as a result of the dispersal, release or escape of pollutants.</li>\n<li><a href="/wiki/Professional_liability_insurance" title="Professional liability insurance">Errors and omissions insurance</a> (E&amp;O) is business liability insurance for professionals such as insurance agents, real estate agents and brokers, architects, third-party administrators (TPAs) and other business professionals.</li>\n<li><a href="/wiki/Prize_indemnity_insurance" title="Prize indemnity insurance">Prize indemnity insurance</a> protects the insured from giving away a large prize at a specific event. Examples would include offering prizes to contestants who can make a half-court shot at a <a href="/wiki/Basketball" title="Basketball">basketball</a> game, or a <a href="/wiki/Hole_in_one" title="Hole in one">hole-in-one</a> at a <a href="/wiki/Golf" title="Golf">golf</a> tournament.</li>\n<li><a href="/wiki/Professional_liability_insurance" title="Professional liability insurance">Professional liability insurance</a>, also called <a href="/wiki/Professional_indemnity_insurance" class="mw-redirect" title="Professional indemnity insurance">professional indemnity insurance</a> (PI), protects insured professionals such as architectural corporations and medical practitioners against potential negligence claims made by their patients/clients.  Professional liability insurance may take on different names depending on the profession.  For example, professional liability insurance in reference to the medical profession may be called <a href="/wiki/Medical_malpractice" title="Medical malpractice">medical malpractice</a> insurance.</li></ul>\n<p>Often a commercial insured\'s liability insurance program consists of several layers.  The first layer of insurance generally consists of primary insurance, which provides first dollar indemnity for judgments and settlements up to the limits of liability of the primary policy.  Generally, primary insurance is subject to a deductible and obligates the insured to defend the insured against lawsuits, which is normally accomplished by assigning counsel to defend the insured.  In many instances, a commercial insured may elect to self-insure.  Above the primary insurance or self-insured retention, the insured may have one or more layers of excess insurance to provide coverage additional limits of indemnity protection. There are a variety of types of excess insurance, including "stand-alone" excess policies (policies that contain their own terms, conditions, and exclusions), "follow form" excess insurance (policies that follow the terms of the underlying policy except as specifically provided), and "umbrella" insurance policies (excess insurance that in some circumstances could provide coverage that is broader than the underlying insurance).<sup id="cite_ref-48" class="reference"><a href="#cite_note-48">&#91;47&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Credit">Credit</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=25" title="Edit section: Credit">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Payment_protection_insurance" title="Payment protection insurance">Payment protection insurance</a></div>\n<p>Credit insurance repays some or all of a <a href="/wiki/Loan" title="Loan">loan</a> when the borrower is insolvent.\n</p>\n<ul><li><a href="/wiki/Mortgage_insurance" title="Mortgage insurance">Mortgage insurance</a> insures the lender against default by the borrower. Mortgage insurance is a form of credit insurance, although the name "credit insurance" more often is used to refer to policies that cover other kinds of debt.</li>\n<li>Many credit cards offer payment protection plans which are a form of credit insurance.</li>\n<li><a href="/wiki/Trade_credit_insurance" title="Trade credit insurance">Trade credit insurance</a> is business insurance over the accounts receivable of the insured. The policy pays the policy holder for covered accounts receivable if the debtor defaults on payment.</li>\n<li><a href="/wiki/Collateral_protection_insurance" title="Collateral protection insurance">Collateral protection insurance</a> (CPI) insures property (primarily vehicles) held as collateral for loans made by lending institutions.</li></ul>\n<h3><span class="mw-headline" id="Cyber_Attack_Insurance">Cyber Attack Insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=26" title="Edit section: Cyber Attack Insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Cyber-insurance is a business lines insurance product intended to provide coverage to corporations from Internet-based <a href="/wiki/Risk" title="Risk">risks</a>, and more generally from risks relating to <a href="/wiki/Information_technology" title="Information technology">information technology</a> infrastructure, information privacy, information governance liability, and activities related thereto. \n</p>\n<h3><span class="mw-headline" id="Other_types">Other types</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=27" title="Edit section: Other types">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<ul><li>All-risk insurance is an insurance that covers a wide range of incidents and perils, except those noted in the policy. All-risk insurance is different from peril-specific insurance that cover losses from only those perils listed in the policy.<sup id="cite_ref-49" class="reference"><a href="#cite_note-49">&#91;48&#93;</a></sup> In <a href="/wiki/Car_insurance" class="mw-redirect" title="Car insurance">car insurance</a>, all-risk policy includes also the damages caused by the own driver.</li></ul>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:2006GoodwoodBreedersCup.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e9/2006GoodwoodBreedersCup.jpg/220px-2006GoodwoodBreedersCup.jpg" decoding="async" width="220" height="157" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e9/2006GoodwoodBreedersCup.jpg/330px-2006GoodwoodBreedersCup.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e9/2006GoodwoodBreedersCup.jpg/440px-2006GoodwoodBreedersCup.jpg 2x" data-file-width="900" data-file-height="643" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:2006GoodwoodBreedersCup.jpg" class="internal" title="Enlarge"></a></div>High-value horses may be insured under a <a href="/wiki/Thoroughbred" title="Thoroughbred">bloodstock</a> policy</div></div></div>\n<ul><li>Bloodstock insurance covers individual <a href="/wiki/Horse" title="Horse">horses</a> or a number of horses under common ownership. Coverage is typically for mortality as a result of accident, illness or disease but may extend to include infertility, in-transit loss, veterinary fees, and prospective foal.</li>\n<li><a href="/wiki/Business_interruption_insurance" title="Business interruption insurance">Business interruption insurance</a> covers the loss of income, and the expenses incurred, after a covered peril interrupts normal business operations.</li>\n<li><a href="/wiki/Defense_Base_Act" title="Defense Base Act">Defense Base Act</a> (DBA) insurance provides coverage for civilian workers hired by the government to perform contracts outside the United States and Canada. DBA is required for all U.S. citizens, U.S. residents, U.S. Green Card holders, and all employees or subcontractors hired on overseas government contracts. Depending on the country, foreign nationals must also be covered under DBA. This coverage typically includes expenses related to medical treatment and loss of wages, as well as disability and death benefits.</li>\n<li><a href="/wiki/Expatriate_insurance" title="Expatriate insurance">Expatriate insurance</a> provides individuals and organizations operating outside of their home country with protection for automobiles, property, health, liability and business pursuits.</li>\n<li>Hired-in Plant Insurance covers liability where, under a contract of hire, the customer is liable to pay for the cost of <a href="/wiki/Plant_Hire" class="mw-redirect" title="Plant Hire">hired-in</a> equipment and for any rental charges due to a plant hire firm, such as construction plant and machinery.<sup id="cite_ref-50" class="reference"><a href="#cite_note-50">&#91;49&#93;</a></sup></li>\n<li><a href="/wiki/Legal_expenses_insurance" title="Legal expenses insurance">Legal expenses insurance</a> covers policyholders for the potential costs of legal action against an institution or an individual. When something happens which triggers the need for legal action, it is known as "the event". There are two main types of legal expenses insurance: <a href="/wiki/Legal_expenses_insurance#Before_the_event_insurance" title="Legal expenses insurance">before the event insurance</a> and <a href="/wiki/Legal_expenses_insurance#After_the_event_insurance" title="Legal expenses insurance">after the event insurance</a>.</li>\n<li>Livestock insurance is a specialist policy provided to, for example, commercial or hobby farms, aquariums, fish farms or any other animal holding. Cover is available for mortality or economic slaughter as a result of accident, illness or disease but can extend to include destruction by government order.</li>\n<li>Media liability insurance is designed to cover professionals that engage in film and television production and print, against risks such as <a href="/wiki/Defamation" title="Defamation">defamation</a>.</li>\n<li>Nuclear incident insurance covers damages resulting from an <a href="/wiki/Nuclear_and_radiation_accidents" class="mw-redirect" title="Nuclear and radiation accidents">incident involving radioactive materials</a> and is generally arranged at the national level. (See the <a href="/wiki/Nuclear_exclusion_clause" title="Nuclear exclusion clause">nuclear exclusion clause</a> and, for the United States, the <a href="/wiki/Price%E2%80%93Anderson_Nuclear_Industries_Indemnity_Act" title="Price\xe2\x80\x93Anderson Nuclear Industries Indemnity Act">Price\xe2\x80\x93Anderson Nuclear Industries Indemnity Act</a>.)</li>\n<li><a href="/wiki/Pet_insurance" title="Pet insurance">Pet insurance</a> insures pets against accidents and illnesses; some companies cover routine/wellness care and burial, as well.</li>\n<li><a href="/wiki/Pollution_insurance" title="Pollution insurance">Pollution insurance</a> usually takes the form of first-party coverage for contamination of insured property either by external or on-site sources. Coverage is also afforded for liability to third parties arising from contamination of air, water, or land due to the sudden and accidental release of hazardous materials from the insured site. The policy usually covers the costs of cleanup and may include coverage for releases from underground storage tanks. Intentional acts are specifically excluded.</li>\n<li>Purchase insurance is aimed at providing protection on the products people purchase. Purchase insurance can cover individual purchase protection, <a href="/wiki/Warranty" title="Warranty">warranties</a>, <a href="/wiki/Guarantee" title="Guarantee">guarantees</a>, care plans and even mobile phone insurance. Such insurance is normally very limited in the scope of problems that are covered by the policy.</li>\n<li>Tax insurance is increasingly being used in corporate transactions to protect taxpayers in the event that a tax position it has taken is challenged by the IRS or a state, local, or foreign taxing authority<sup id="cite_ref-51" class="reference"><a href="#cite_note-51">&#91;50&#93;</a></sup></li>\n<li><a href="/wiki/Title_insurance" title="Title insurance">Title insurance</a> provides a guarantee that title to <a href="/wiki/Real_property" title="Real property">real property</a> is vested in the purchaser or <a href="/wiki/Mortgage_law" title="Mortgage law">mortgagee</a>, free and clear of <a href="/wiki/Lien" title="Lien">liens</a> or encumbrances. It is usually issued in conjunction with a search of the public records performed at the time of a <a href="/wiki/Real_estate" title="Real estate">real estate</a> transaction.</li>\n<li><a href="/wiki/Travel_insurance" title="Travel insurance">Travel insurance</a> is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses, loss of personal belongings, travel delay, and personal liabilities.</li>\n<li><a href="/wiki/Tuition_insurance" title="Tuition insurance">Tuition insurance</a> insures students against involuntary withdrawal from cost-intensive educational institutions</li>\n<li><a href="/wiki/Interest_rate_insurance" title="Interest rate insurance">Interest rate insurance</a> protects the holder from adverse changes in interest rates, for instance for those with a variable rate loan or mortgage</li>\n<li>Divorce insurance is a form of contractual liability insurance that pays the insured a cash benefit if their marriage ends in divorce.</li></ul>\n<h3><span class="mw-headline" id="Insurance_financing_vehicles">Insurance financing vehicles</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=28" title="Edit section: Insurance financing vehicles">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<ul><li>Fraternal insurance is provided on a cooperative basis by <a href="/wiki/Benefit_society" title="Benefit society">fraternal benefit societies</a> or other social organizations.<sup id="cite_ref-52" class="reference"><a href="#cite_note-52">&#91;51&#93;</a></sup></li>\n<li><a href="/wiki/No-fault_insurance" title="No-fault insurance">No-fault insurance</a> is a type of insurance policy (typically automobile insurance) where insureds are indemnified by their own insurer regardless of fault in the incident.</li>\n<li>Protected self-insurance is an alternative risk financing mechanism in which an organization retains the mathematically calculated cost of risk within the organization and transfers the catastrophic risk with specific and aggregate limits to an insurer so the maximum total cost of the program is known. A properly designed and underwritten Protected Self-Insurance Program reduces and stabilizes the cost of insurance and provides valuable risk management information.</li>\n<li>Retrospectively rated insurance is a method of establishing a premium on large commercial accounts. The final premium is based on the insured\'s actual loss experience during the policy term, sometimes subject to a minimum and maximum premium, with the final premium determined by a formula. Under this plan, the current year\'s premium is based partially (or wholly) on the current year\'s losses, although the premium adjustments may take months or years beyond the current year\'s expiration date. The rating formula is guaranteed in the insurance contract. Formula: retrospective premium = converted loss + basic premium \xc3\x97 tax multiplier. Numerous variations of this formula have been developed and are in use.</li>\n<li>Formal <a href="/wiki/Self-insurance" title="Self-insurance">self-insurance</a> (active risk retention) is the deliberate decision to pay for otherwise insurable losses out of one\'s own money.<sup id="cite_ref-53" class="reference"><a href="#cite_note-53">&#91;52&#93;</a></sup> This can be done on a formal basis by establishing a separate fund into which funds are deposited on a periodic basis, or by simply forgoing the purchase of available insurance and paying out-of-pocket. Self-insurance is usually used to pay for high-frequency, low-severity losses.<sup id="cite_ref-Teale2013_54-0" class="reference"><a href="#cite_note-Teale2013-54">&#91;53&#93;</a></sup> Such losses, if covered by conventional insurance, mean having to pay a premium that includes loadings for the company\'s general expenses, cost of putting the policy on the books, acquisition expenses, premium taxes, and contingencies. While this is true for all insurance, for small, frequent losses the transaction costs may exceed the benefit of volatility reduction that insurance otherwise affords.<sup id="cite_ref-Teale2013_54-1" class="reference"><a href="#cite_note-Teale2013-54">&#91;53&#93;</a></sup></li>\n<li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a> is a type of insurance purchased by insurance companies or self-insured employers to protect against unexpected losses. <a href="/wiki/Financial_reinsurance" title="Financial reinsurance">Financial reinsurance</a> is a form of reinsurance that is primarily used for capital management rather than to transfer insurance risk.</li>\n<li><a href="/wiki/Social_insurance" title="Social insurance">Social insurance</a> can be many things to many people in many countries. But a summary of its essence is that it is a collection of insurance coverages (including components of life insurance, disability income insurance, unemployment insurance, health insurance, and others), plus retirement savings, that requires participation by all citizens. By forcing everyone in society to be a policyholder and pay premiums, it ensures that everyone can become a claimant when or if they need to. Along the way, this inevitably becomes related to other concepts such as the justice system and the <a href="/wiki/Welfare_state" title="Welfare state">welfare state</a>. This is a large, complicated topic that engenders tremendous debate, which can be further studied in the following articles (and others):\n<ul><li><a href="/wiki/National_Insurance" title="National Insurance">National Insurance</a></li>\n<li><a href="/wiki/Social_safety_net" title="Social safety net">Social safety net</a></li>\n<li><a href="/wiki/Social_security" class="mw-redirect" title="Social security">Social security</a></li>\n<li><a href="/wiki/Social_Security_debate_(United_States)" class="mw-redirect" title="Social Security debate (United States)">Social Security debate (United States)</a></li>\n<li><a href="/wiki/Social_Security_(United_States)" title="Social Security (United States)">Social Security (United States)</a></li>\n<li><a href="/wiki/Social_welfare_provision" class="mw-redirect" title="Social welfare provision">Social welfare provision</a></li></ul></li>\n<li><a href="/wiki/Stop-loss_insurance" title="Stop-loss insurance">Stop-loss insurance</a> provides protection against catastrophic or unpredictable losses. It is purchased by organizations who do not want to assume 100% of the liability for losses arising from the plans. Under a stop-loss policy, the insurance company becomes liable for losses that exceed certain limits called deductibles.</li></ul>\n<h3><span class="mw-headline" id="Closed_community_and_governmental_self-insurance">Closed community and governmental self-insurance</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=29" title="Edit section: Closed community and governmental self-insurance">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Some communities prefer to create virtual insurance among themselves by other means than contractual risk transfer, which assigns explicit numerical values to risk. A number of <a href="/wiki/Religion" title="Religion">religious</a> groups, including the <a href="/wiki/Amish" title="Amish">Amish</a> and some <a href="/wiki/Muslim" class="mw-redirect" title="Muslim">Muslim</a> groups, depend on support provided by their <a href="/wiki/Community" title="Community">communities</a> when <a href="/wiki/Disaster" title="Disaster">disasters</a> strike. The risk presented by any given person is assumed collectively by the community who all bear the cost of rebuilding lost property and supporting people whose needs are suddenly greater after a loss of some kind. In supportive communities where others can be trusted to follow community leaders, this tacit form of insurance can work.  In this manner the community can even out the extreme differences in insurability that exist among its members. Some further justification is also provided by invoking the <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a> of explicit insurance contracts.\n</p><p>In the <a href="/wiki/United_Kingdom" title="United Kingdom">United Kingdom</a>, <a href="/wiki/The_Crown" title="The Crown">The Crown</a> (which, for practical purposes, meant the <a href="/wiki/Civil_service" title="Civil service">civil service</a>) did not insure property such as government buildings.  If a government building was damaged, the cost of repair would be met from public funds because, in the long run, this was cheaper than paying insurance premiums. Since many UK government buildings have been sold to property companies and rented back, this arrangement is now less common.\n</p><p>In the United States, the most prevalent form of <a href="/wiki/Self-insurance" title="Self-insurance">self-insurance</a> is governmental risk management pools. They are self-funded cooperatives, operating as carriers of coverage for the majority of governmental entities today, such as county governments, municipalities, and school districts.  Rather than these entities independently self-insure and risk bankruptcy from a large judgment or catastrophic loss, such governmental entities form a <a href="/wiki/Risk_pool" title="Risk pool">risk pool</a>. Such pools begin their operations by capitalization through member deposits or bond issuance. Coverage (such as general liability, auto liability, professional liability, workers compensation, and property) is offered by the pool to its members, similar to coverage offered by insurance companies. However, self-insured pools offer members lower rates (due to not needing insurance brokers), increased benefits (such as loss prevention services) and subject matter expertise. Of approximately 91,000 distinct governmental entities operating in the United States, 75,000 are members of self-insured pools in various lines of coverage, forming approximately 500 pools. Although a relatively small corner of the insurance market, the annual contributions (self-insured premiums) to such pools have been estimated up to 17 billion dollars annually.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55">&#91;54&#93;</a></sup>\n</p>\n<h2><span class="mw-headline" id="Insurance_companies">Insurance companies</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=30" title="Edit section: Insurance companies">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<table class="box-More_citations_needed plainlinks metadata ambox ambox-content ambox-Refimprove" role="presentation"><tbody><tr><td class="mbox-image"><div style="width:52px"><a href="/wiki/File:Question_book-new.svg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>needs additional citations for <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">verification</a></b>.<span class="hide-when-compact"> Please help <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Insurance&amp;action=edit">improve this article</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a>. Unsourced material may be challenged and removed.<br /><small><span class="plainlinks"><i>Find sources:</i>&#160;<a rel="nofollow" class="external text" href="//www.google.com/search?as_eq=wikipedia&amp;q=%22Insurance%22">"Insurance"</a>&#160;\xe2\x80\x93&#160;<a rel="nofollow" class="external text" href="//www.google.com/search?tbm=nws&amp;q=%22Insurance%22+-wikipedia">news</a>&#160;<b>\xc2\xb7</b> <a rel="nofollow" class="external text" href="//www.google.com/search?&amp;q=%22Insurance%22&amp;tbs=bkt:s&amp;tbm=bks">newspapers</a>&#160;<b>\xc2\xb7</b> <a rel="nofollow" class="external text" href="//www.google.com/search?tbs=bks:1&amp;q=%22Insurance%22+-wikipedia">books</a>&#160;<b>\xc2\xb7</b> <a rel="nofollow" class="external text" href="//scholar.google.com/scholar?q=%22Insurance%22">scholar</a>&#160;<b>\xc2\xb7</b> <a rel="nofollow" class="external text" href="https://www.jstor.org/action/doBasicSearch?Query=%22Insurance%22&amp;acc=on&amp;wc=on">JSTOR</a></span></small></span>  <span class="date-container"><i>(<span class="date">January 2019</span>)</i></span><span class="hide-when-compact"><i> (<a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this template message</a>)</i></span></div></td></tr></tbody></table>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:Republic_Fire_Insurance_Company_certificate.jpg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a1/Republic_Fire_Insurance_Company_certificate.jpg/220px-Republic_Fire_Insurance_Company_certificate.jpg" decoding="async" width="220" height="170" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a1/Republic_Fire_Insurance_Company_certificate.jpg/330px-Republic_Fire_Insurance_Company_certificate.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a1/Republic_Fire_Insurance_Company_certificate.jpg/440px-Republic_Fire_Insurance_Company_certificate.jpg 2x" data-file-width="968" data-file-height="750" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:Republic_Fire_Insurance_Company_certificate.jpg" class="internal" title="Enlarge"></a></div>Certificate issued by Republic Fire Insurance Co. of New York c. 1860</div></div></div>\n<p>Insurance companies may sell any combination of insurance types, but are often classified into three groups:<sup id="cite_ref-:0_56-0" class="reference"><a href="#cite_note-:0-56">&#91;55&#93;</a></sup>\n</p>\n<ul><li><a href="/wiki/Life_insurance" title="Life insurance">Life insurance</a> companies, which sell life insurance, annuities and pensions products and bear similarities to <a href="/wiki/Asset_management" title="Asset management">asset management</a> businesses<sup id="cite_ref-:0_56-1" class="reference"><a href="#cite_note-:0-56">&#91;55&#93;</a></sup></li>\n<li>Non-life or <a href="/wiki/Property_insurance" title="Property insurance">property</a>/<a href="/wiki/Casualty_insurance" title="Casualty insurance">casualty insurance</a> companies, which sell other types of insurance.</li>\n<li><a href="/wiki/Health_insurance" title="Health insurance">Health insurance</a> companies, which sometimes sell life insurance or <a href="/wiki/Employee_benefits" title="Employee benefits">employee benefits</a> as well</li></ul>\n<p>General insurance companies can be further divided into these sub categories.\n</p>\n<ul><li>Standard lines</li>\n<li>Excess lines</li></ul>\n<p>In most countries, life and non-life insurers are subject to different regulatory regimes and different <a href="/wiki/Tax" title="Tax">tax</a> and <a href="/wiki/Accounting" title="Accounting">accounting</a> rules. The main reason for the distinction between the two types of company is that life, annuity, and pension business is very long-term in nature \xe2\x80\x93 coverage for life assurance or a pension can cover risks over many <a href="/wiki/Decade" title="Decade">decades</a>. By contrast, non-life insurance cover usually covers a shorter period, such as one year.\n</p>\n<h3><span class="mw-headline" id="Mutual_versus_proprietary">Mutual versus proprietary</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=31" title="Edit section: Mutual versus proprietary">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Mutual_insurance" title="Mutual insurance">Mutual insurance</a></div>\n<p>Insurance companies are generally classified as either <a href="/wiki/Mutual_insurance" title="Mutual insurance">mutual</a> or proprietary companies.<sup id="cite_ref-57" class="reference"><a href="#cite_note-57">&#91;56&#93;</a></sup> Mutual companies are owned by the policyholders, while shareholders (who may or may not own policies) own proprietary insurance companies.\n</p><p><a href="/wiki/Demutualization" title="Demutualization">Demutualization</a> of mutual insurers to form stock companies, as well as the formation of a hybrid known as a mutual holding company, became common in some countries, such as the United States, in the late 20th century.  However, not all states permit mutual holding companies.\n</p>\n<h3><span class="mw-headline" id="Reinsurance_companies">Reinsurance companies</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=32" title="Edit section: Reinsurance companies">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a> companies are insurance companies that sell policies to other insurance companies, allowing them to reduce their risks and protect themselves from substantial losses.<sup id="cite_ref-The_Business_Model_of_Reinsurance_Companies_58-0" class="reference"><a href="#cite_note-The_Business_Model_of_Reinsurance_Companies-58">&#91;57&#93;</a></sup> The reinsurance market is dominated by a few very large companies, with huge reserves. A reinsurer may also be a direct writer of insurance risks as well.\n</p>\n<h3><span class="mw-headline" id="Captive_insurance_companies">Captive insurance companies</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=33" title="Edit section: Captive insurance companies">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Captive_insurance" title="Captive insurance">Captive insurance</a></div>\n<p><a href="/wiki/Captive_insurance" title="Captive insurance">Captive insurance</a> companies may be defined as limited-purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups. This definition can sometimes be extended to include some of the risks of the parent company\'s customers. In short, it is an in-house self-insurance vehicle. Captives may take the form of a "pure" entity, which is a 100% subsidiary of the self-insured parent company; of a "mutual" captive, which insures the collective risks of members of an industr); and of an "association" captive, which self-insures individual risks of the members of a professional, commercial or industrial association. Captives represent commercial, economic and tax advantages to their sponsors because of the reductions in costs they help create and for the ease of insurance risk management and the flexibility for cash flows they generate. Additionally, they may provide coverage of risks which is neither available nor offered in the traditional insurance market at reasonable prices.\n</p><p>The types of risk that a captive can underwrite for their parents include property damage, public and product liability, professional indemnity, employee benefits, employers\' liability, motor and medical aid expenses. The captive\'s exposure to such risks may be limited by the use of reinsurance.\n</p><p>Captives are becoming an increasingly important component of the <a href="/wiki/Risk_management" title="Risk management">risk management</a> and risk financing strategy of their parent. This can be understood against the following background:\n</p>\n<ul><li>Heavy and increasing premium costs in almost every line of coverage</li>\n<li>Difficulties in insuring certain types of fortuitous risk</li>\n<li>Differential coverage standards in various parts of the world</li>\n<li>Rating structures which reflect market trends rather than individual loss experience</li>\n<li>Insufficient credit for deductibles or loss control efforts</li></ul>\n<h3><span class="mw-headline" id="Other_forms">Other forms</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=34" title="Edit section: Other forms">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Other possible forms for an insurance company include <a href="/wiki/Reciprocal_inter-insurance_exchange" title="Reciprocal inter-insurance exchange">reciprocals</a>, in which policyholders reciprocate in sharing risks, and Lloyd\'s organizations.<sup id="cite_ref-Lloyds_Organizations_59-0" class="reference"><a href="#cite_note-Lloyds_Organizations-59">&#91;58&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Admitted_versus_non-admitted">Admitted versus non-admitted</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=35" title="Edit section: Admitted versus non-admitted">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Admitted insurance companies are those in the United States that have been admitted or licensed by the state licensing agency. The insurance they sell is called <b>admitted insurance</b>. Non-admitted companies have not been approved by the state licensing agency, but are allowed to sell insurance under special circumstances when they meet an insurance need that admitted companies cannot or will not meet.<sup id="cite_ref-60" class="reference"><a href="#cite_note-60">&#91;59&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Insurance_consultants">Insurance consultants</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=36" title="Edit section: Insurance consultants">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>There are also companies known as "insurance consultants". Like a mortgage broker, these companies are paid a fee by the customer to shop around for the best insurance policy among many companies. Similar to an insurance consultant, an "insurance broker" also shops around for the best insurance policy among many companies. However, with insurance brokers, the fee is usually paid in the form of commission from the insurer that is selected rather than directly from the client.\n</p><p>Neither insurance consultants nor insurance brokers are insurance companies and no risks are transferred to them in insurance transactions. Third party administrators are companies that perform underwriting and sometimes claims handling services for insurance companies.  These companies often have special expertise that the insurance companies do not have.\n</p>\n<h3><span class="mw-headline" id="Financial_stability_and_rating">Financial stability and rating</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=37" title="Edit section: Financial stability and rating">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>The financial stability and strength of an insurance company should be a major consideration when buying an insurance contract. An insurance premium paid currently provides coverage for losses that might arise many years in the future.  For that reason, the viability of the insurance carrier is very important. In recent years, a number of insurance companies have become insolvent, leaving their policyholders with no coverage (or coverage only from a government-backed insurance pool or other arrangement with less attractive payouts for losses). A number of independent rating agencies provide information and rate the financial viability of insurance companies.\n</p><p>Insurance companies are rated by various agencies such as <a href="/wiki/A._M._Best" class="mw-redirect" title="A. M. Best">A.&#160;M. Best</a>. The ratings include the company\'s financial strength, which measures its ability to pay claims. It also rates financial instruments issued by the insurance company, such as bonds, notes, and securitization products.\n</p>\n<h2><span class="mw-headline" id="Across_the_world">Across the world</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=38" title="Edit section: Across the world">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:2005life_premia.PNG" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/2005life_premia.PNG/220px-2005life_premia.PNG" decoding="async" width="220" height="96" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/36/2005life_premia.PNG/330px-2005life_premia.PNG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/36/2005life_premia.PNG/440px-2005life_premia.PNG 2x" data-file-width="1425" data-file-height="625" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:2005life_premia.PNG" class="internal" title="Enlarge"></a></div>Life insurance premiums written in 2005</div></div></div>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:2005nonlife_premia.PNG" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b9/2005nonlife_premia.PNG/220px-2005nonlife_premia.PNG" decoding="async" width="220" height="96" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b9/2005nonlife_premia.PNG/330px-2005nonlife_premia.PNG 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b9/2005nonlife_premia.PNG/440px-2005nonlife_premia.PNG 2x" data-file-width="1425" data-file-height="625" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:2005nonlife_premia.PNG" class="internal" title="Enlarge"></a></div>Non-life insurance premiums written in 2005</div></div></div>\n<p>Global insurance premiums grew by 2.7% in inflation-adjusted terms in 2010 to $4.3 trillion, climbing above pre-crisis levels. The return to growth and record premiums generated during the year followed two years of decline in real terms. Life insurance premiums increased by 3.2% in 2010 and non-life premiums by 2.1%. While industrialised countries saw an increase in premiums of around 1.4%, insurance markets in emerging economies saw rapid expansion with 11% growth in premium income. The global insurance industry was sufficiently capitalised to withstand the financial crisis of 2008 and 2009 and most insurance companies restored their capital to pre-crisis levels by the end of 2010. With the continuation of the gradual recovery of the global economy, it is likely the insurance industry will continue to see growth in premium income both in industrialised countries and emerging markets in 2011.\n</p><p>Advanced economies account for the bulk of global insurance. With premium income of $1.62 trillion, Europe was the most important region in 2010, followed by North America $1.41 trillion and Asia $1.16 trillion. Europe has however seen a decline in premium income during the year in contrast to the growth seen in North America and Asia. The top four countries generated more than a half of premiums. The United States and Japan alone accounted for 40% of world insurance, much higher than their 7% share of the global population. Emerging economies accounted for over 85% of the world\'s population but only around 15% of premiums. Their markets are however growing at a quicker pace.<sup id="cite_ref-61" class="reference"><a href="#cite_note-61">&#91;60&#93;</a></sup> The country expected to have the biggest impact on the insurance share distribution across the world is China. According to <a href="/wiki/Sam_Radwan" title="Sam Radwan">Sam Radwan</a> of <a href="/wiki/ENHANCE_International_LLC" class="mw-redirect" title="ENHANCE International LLC">ENHANCE International LLC</a>, low premium penetration (insurance premium as a&#160;% of GDP), an ageing population and the largest car market in terms of new sales, premium growth has averaged 15\xe2\x80\x9320% in the past five years, and China is expected to be the largest insurance market in the next decade or two.<sup id="cite_ref-62" class="reference"><a href="#cite_note-62">&#91;61&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Regulatory_differences">Regulatory differences</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=39" title="Edit section: Regulatory differences">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Insurance_law" title="Insurance law">Insurance law</a></div>\n<p>In the United States, insurance is regulated by the states under the <a href="/wiki/McCarran%E2%80%93Ferguson_Act" title="McCarran\xe2\x80\x93Ferguson Act">McCarran-Ferguson Act</a>, with "periodic proposals for federal intervention", and a nonprofit coalition of state insurance agencies called the <a href="/wiki/National_Association_of_Insurance_Commissioners" title="National Association of Insurance Commissioners">National Association of Insurance Commissioners</a> works to harmonize the country\'s different laws and regulations.<sup id="cite_ref-63" class="reference"><a href="#cite_note-63">&#91;62&#93;</a></sup> The National Conference of Insurance Legislators (NCOIL) also works to harmonize the different state laws.<sup id="cite_ref-64" class="reference"><a href="#cite_note-64">&#91;63&#93;</a></sup>\n</p><p>In the <a href="/wiki/European_Union" title="European Union">European Union</a>, the Third Non-Life Directive and the Third Life Directive, both passed in 1992 and effective 1994, created a single insurance market in Europe and allowed insurance companies to offer insurance anywhere in the EU (subject to permission from authority in the head office) and allowed insurance consumers to purchase insurance from any insurer in the EU.<sup id="cite_ref-65" class="reference"><a href="#cite_note-65">&#91;64&#93;</a></sup> As far as <a href="/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom">insurance in the United Kingdom</a>, the <a href="/wiki/Financial_Services_Authority" title="Financial Services Authority">Financial Services Authority</a> took over insurance regulation from the General Insurance Standards Council in 2005;<sup id="cite_ref-66" class="reference"><a href="#cite_note-66">&#91;65&#93;</a></sup> laws passed include the Insurance Companies Act 1973 and another in 1982,<sup id="cite_ref-67" class="reference"><a href="#cite_note-67">&#91;66&#93;</a></sup> and reforms to <a href="/wiki/Warranty" title="Warranty">warranty</a> and other aspects under discussion as of 2012<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Insurance&amp;action=edit">&#91;update&#93;</a></sup>.<sup id="cite_ref-68" class="reference"><a href="#cite_note-68">&#91;67&#93;</a></sup>\n</p><p>The <a href="/wiki/Insurance_industry_in_China" title="Insurance industry in China">insurance industry in China</a> was nationalized in 1949 and thereafter offered by only a single state-owned company, the <a href="/wiki/People%27s_Insurance_Company_of_China" title="People&#39;s Insurance Company of China">People\'s Insurance Company of China</a>, which was eventually suspended as demand declined in a communist environment. In 1978, market reforms led to an increase in the market and by 1995 a comprehensive Insurance Law of the People\'s Republic of China<sup id="cite_ref-69" class="reference"><a href="#cite_note-69">&#91;68&#93;</a></sup> was passed, followed in 1998 by the formation of <a href="/wiki/China_Insurance_Regulatory_Commission" title="China Insurance Regulatory Commission">China Insurance Regulatory Commission</a> (CIRC), which has broad regulatory authority over the insurance market of China.<sup id="cite_ref-70" class="reference"><a href="#cite_note-70">&#91;69&#93;</a></sup>\n</p><p>In India IRDA is insurance regulatory authority. As per the section 4 of IRDA Act 1999, Insurance Regulatory and Development Authority (IRDA), which was constituted by an act of parliament. National Insurance Academy, Pune is apex insurance capacity builder institute promoted with support from Ministry of Finance and by LIC, Life &amp; General Insurance companies.\n</p><p>In 2017, within the framework of the joint project of the <a href="/wiki/Central_Bank_of_Russia" title="Central Bank of Russia">Bank of Russia</a> and <a href="/wiki/Yandex" title="Yandex">Yandex</a>, a special <a href="/wiki/Check_mark" title="Check mark">check mark</a> (a green circle with a tick and \'\xd0\xa0\xd0\xb5\xd0\xb5\xd1\x81\xd1\x82\xd1\x80 \xd0\xa6\xd0\x91 \xd0\xa0\xd0\xa4\' (Unified state register of insurance entities) text box) appeared in the search for Yandex system, informing the consumer that the company\'s financial services are offered on the marked website, which has the status of an insurance company, a broker or a mutual insurance association.<sup id="cite_ref-71" class="reference"><a href="#cite_note-71">&#91;70&#93;</a></sup>\n</p>\n<h2><span class="mw-headline" id="Controversies">Controversies</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=40" title="Edit section: Controversies">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<h3><span class="mw-headline" id="Does_not_reduce_the_risk">Does not reduce the risk</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=41" title="Edit section: Does not reduce the risk">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Insurance is just a risk transfer mechanism wherein the financial burden which may arise due to some fortuitous event is transferred to a bigger entity called an Insurance Company by way of paying premiums. This only reduces the financial burden and not the actual chances of happening of an event. Insurance is a risk for both the insurance company and the insured.  The insurance company understands the risk involved and will perform a <a href="/wiki/Risk_assessment" title="Risk assessment">risk assessment</a> when writing the policy.  \n</p><p>As a result, the premiums may go up if they determine that the policyholder will file a claim. However, premiums might reduce if the policyholder commits to a risk management program as recommended by the insurer.<sup id="cite_ref-72" class="reference"><a href="#cite_note-72">&#91;71&#93;</a></sup> It\'s therefore important that insurers view risk management as a joint initiative between policyholder and insurer since a robust risk management plan minimizes the possibility of a large claim for the insurer while stabilizing or reducing premiums for the policyholder. \n</p><p>If a person is financially stable and plans for life\'s unexpected events, they may be able to go without insurance.  However, they must have enough to cover a total and complete loss of employment and of their possessions.  Some states will accept a surety bond, a government bond, or even making a cash deposit with the state.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (April 2017)">citation needed</span></a></i>&#93;</sup>\n</p>\n<h3><span class="mw-headline" id="Moral_hazard">Moral hazard</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=42" title="Edit section: Moral hazard">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>An insurance company may inadvertently find that its insureds may not be as risk-averse as they might otherwise be (since, by definition, the insured has transferred the risk to the insurer), a concept known as <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a>. This \'insulates\' many from the\ntrue costs of living with risk, negating measures that can mitigate or adapt to risk and leading some to describe insurance schemes as potentially <a href="/wiki/Maladaptation" title="Maladaptation">maladaptive</a>.<sup id="cite_ref-73" class="reference"><a href="#cite_note-73">&#91;72&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Complexity_of_insurance_policy_contracts">Complexity of insurance policy contracts</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=43" title="Edit section: Complexity of insurance policy contracts">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<div class="thumb tright"><div class="thumbinner" style="width:222px;"><a href="/wiki/File:UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg" class="image"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8a/UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg/220px-UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg" decoding="async" width="220" height="191" class="thumbimage" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8a/UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg/330px-UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8a/UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg/440px-UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg 2x" data-file-width="1063" data-file-height="925" /></a>  <div class="thumbcaption"><div class="magnify"><a href="/wiki/File:UA_Flight_175_hits_WTC_south_tower_9-11_edit.jpeg" class="internal" title="Enlarge"></a></div><a href="/wiki/9/11" class="mw-redirect" title="9/11">9/11</a> was a major insurance loss, but there were disputes over the <a href="/wiki/World_Trade_Center_(1973%E2%80%932001)" title="World Trade Center (1973\xe2\x80\x932001)">World Trade Center</a>\'s insurance policy</div></div></div>\n<p>Insurance policies can be complex and some policyholders may not understand all the fees and coverages included in a policy. As a result, people may buy policies on unfavorable terms. In response to these issues, many countries have enacted detailed statutory and regulatory regimes governing every aspect of the insurance business, including minimum standards for policies and the ways in which they may be <a href="/wiki/Advertising" title="Advertising">advertised</a> and sold.\n</p><p>For example, most insurance policies in the English language today have been carefully drafted in <a href="/wiki/Plain_English" title="Plain English">plain English</a>; the industry learned the hard way that many courts will not enforce policies against insureds when the judges themselves cannot understand what the policies are saying. Typically, courts construe ambiguities in insurance policies against the insurance company and in favor of coverage under the policy.\n</p><p>Many institutional insurance purchasers buy insurance through an insurance broker. While on the surface it appears the broker represents the buyer (not the insurance company), and typically counsels the buyer on appropriate coverage and policy limitations, in the vast majority of cases a broker\'s compensation comes in the form of a commission as a percentage of the insurance premium, creating a conflict of interest in that the broker\'s financial interest is tilted towards encouraging an insured to purchase more insurance than might be necessary at a higher price. A broker generally holds contracts with many insurers, thereby allowing the broker to "shop" the <a href="/wiki/Market_(economics)" title="Market (economics)">market</a> for the best rates and coverage possible.\n</p><p>Insurance may also be purchased through an agent. A tied agent, working exclusively with one insurer, represents the insurance company from whom the policyholder buys (while a free agent sells policies of various insurance companies). Just as there is a potential conflict of interest with a broker, an agent has a different type of conflict. Because agents work directly for the insurance company, if there is a claim the agent may advise the client to the benefit of the insurance company. Agents generally cannot offer as broad a range of selection compared to an insurance broker.\n</p><p>An independent insurance consultant advises insureds on a fee-for-service retainer, similar to an attorney, and thus offers completely independent advice, free of the financial conflict of interest of brokers or agents. However, such a consultant must still work through brokers or agents in order to secure coverage for their clients.\n</p>\n<h3><span class="mw-headline" id="Limited_consumer_benefits">Limited consumer benefits</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=44" title="Edit section: Limited consumer benefits">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>In the United States, economists and consumer advocates generally consider insurance to be worthwhile for low-probability, catastrophic losses, but not for high-probability, small losses. Because of this, consumers are advised to select high <a href="/wiki/Deductible" title="Deductible">deductibles</a> and to not insure losses which would not cause a disruption in their life. However, consumers have shown a tendency to prefer low deductibles and to prefer to insure relatively high-probability, small losses over low-probability, perhaps due to not understanding or ignoring the low-probability risk. This is associated with reduced purchasing of insurance against low-probability losses, and may result in increased inefficiencies from <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a>.<sup id="cite_ref-Schindler1994_74-0" class="reference"><a href="#cite_note-Schindler1994-74">&#91;73&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Redlining">Redlining</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=45" title="Edit section: Redlining">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Redlining" title="Redlining">Redlining</a></div>\n<p><a href="/wiki/Redlining" title="Redlining">Redlining</a> is the practice of denying insurance coverage in specific geographic areas, supposedly because of a high likelihood of loss, while the alleged motivation is unlawful discrimination. <a href="/wiki/Racial_profiling" title="Racial profiling">Racial profiling</a> or <a href="/wiki/Redlining" title="Redlining">redlining</a> has a long history in the property insurance industry in the United States. From a review of industry underwriting and marketing materials, court documents, and research by government agencies, industry and community groups, and academics, it is clear that race has long affected and continues to affect the policies and practices of the insurance industry.<sup id="cite_ref-75" class="reference"><a href="#cite_note-75">&#91;74&#93;</a></sup>\n</p><p>In July 2007, the US <a href="/wiki/Federal_Trade_Commission" title="Federal Trade Commission">Federal Trade Commission</a> (FTC) released a report presenting the results of a study concerning credit-based <a href="/wiki/Insurance_score" title="Insurance score">insurance scores</a> in automobile insurance. The study found that these scores are effective predictors of risk. It also showed that African-Americans and Hispanics are substantially overrepresented in the lowest credit scores, and substantially underrepresented in the highest, while Caucasians and Asians are more evenly spread across the scores. The credit scores were also found to predict risk within each of the ethnic groups, leading the FTC to conclude that the scoring models are not solely proxies for redlining. The FTC indicated little data was available to evaluate benefit of insurance scores to consumers.<sup id="cite_ref-FTC_Study_76-0" class="reference"><a href="#cite_note-FTC_Study-76">&#91;75&#93;</a></sup> The report was disputed by representatives of the <a href="/wiki/Consumer_Federation_of_America" title="Consumer Federation of America">Consumer Federation of America</a>, the National Fair Housing Alliance, the <a href="/wiki/National_Consumer_Law_Center" title="National Consumer Law Center">National Consumer Law Center</a>, and the Center for Economic Justice, for relying on data provided by the insurance industry.<sup id="cite_ref-77" class="reference"><a href="#cite_note-77">&#91;76&#93;</a></sup>\n</p><p>All states have provisions in their rate regulation laws or in their fair trade practice acts that prohibit unfair discrimination, often called redlining, in setting rates and making insurance available.<sup id="cite_ref-78" class="reference"><a href="#cite_note-78">&#91;77&#93;</a></sup>\n</p><p>In determining premiums and premium rate structures, insurers consider quantifiable factors, including location, <a href="/wiki/Credit_score" title="Credit score">credit scores</a>, <a href="/wiki/Gender" title="Gender">gender</a>, <a href="/wiki/Profession" title="Profession">occupation</a>, <a href="/wiki/Marital_status" title="Marital status">marital status</a>, and <a href="/wiki/Education" title="Education">education</a> level. However, the use of such factors is often considered to be unfair or unlawfully <a href="/wiki/Discrimination" title="Discrimination">discriminatory</a>, and the reaction against this practice has in some instances led to political disputes about the ways in which insurers determine premiums and regulatory intervention to limit the factors used.\n</p><p>An insurance underwriter\'s job is to evaluate a given risk as to the likelihood that a loss will occur. Any factor that causes a greater likelihood of loss should theoretically be charged a higher rate. This basic principle of insurance must be followed if insurance companies are to remain solvent.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (February 2009)">citation needed</span></a></i>&#93;</sup> Thus, "discrimination" against (i.e., negative differential treatment of) potential insureds in the risk evaluation and premium-setting process is a necessary by-product of the fundamentals of insurance underwriting.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2019)">citation needed</span></a></i>&#93;</sup> For instance, insurers charge older people significantly higher premiums than they charge younger people for term life insurance. Older people are thus treated differently from younger people (i.e., a distinction is made, discrimination occurs). The rationale for the differential treatment goes to the heart of the risk a life insurer takes: older people are likely to die sooner than young people, so the risk of loss (the insured\'s death) is greater in any given period of time and therefore the <a href="/wiki/Risk_premium" title="Risk premium">risk premium</a> must be higher to cover the greater risk.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (July 2019)">citation needed</span></a></i>&#93;</sup> However, treating insureds differently when there is no actuarially sound reason for doing so is unlawful discrimination.\n</p>\n<h3><span class="mw-headline" id="Insurance_patents">Insurance patents</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=46" title="Edit section: Insurance patents">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<table class="box-Update plainlinks metadata ambox ambox-content ambox-Update" role="presentation"><tbody><tr><td class="mbox-image"><div style="width:52px"><img alt="Ambox current red Americas.svg" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/42px-Ambox_current_red_Americas.svg.png" decoding="async" width="42" height="34" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/63px-Ambox_current_red_Americas.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/53/Ambox_current_red_Americas.svg/84px-Ambox_current_red_Americas.svg.png 2x" data-file-width="360" data-file-height="290" /></div></td><td class="mbox-text"><div class="mbox-text-span">This article needs to be <b>updated</b>.<span class="hide-when-compact"> Please help update this article to reflect recent events or newly available information.</span>  <span class="date-container"><i>(<span class="date">January 2018</span>)</i></span></div></td></tr></tbody></table>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"/><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/Insurance_patent" title="Insurance patent">Insurance patent</a></div>\n<p>New assurance products can now be protected from copying with a <a href="/wiki/Business_method_patent" title="Business method patent">business method patent</a> in the <a href="/wiki/United_States" title="United States">United States</a>.\n</p><p>A recent example of a new insurance product that is patented is <a href="/wiki/Usage-based_insurance" title="Usage-based insurance">Usage Based</a> <a href="/wiki/Vehicle_insurance" title="Vehicle insurance">auto insurance</a>. Early versions were independently invented and patented by a major US auto insurance company, <a href="/wiki/Progressive_Corporation" title="Progressive Corporation">Progressive Auto Insurance</a> (<span><a rel="nofollow" class="external text" href="https://patents.google.com/patent/US5797134">U.S. Patent 5,797,134</a></span>) and a Spanish independent inventor, Salvador Minguijon Perez (<style data-mw-deduplicate="TemplateStyles:r1041539562">.mw-parser-output .citation{word-wrap:break-word}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}</style><span class="citation patent"><a rel="nofollow" class="external text" href="https://worldwide.espacenet.com/textdoc?DB=EPODOC&amp;IDX=EP0700009">EP 0700009</a></span><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Apatent&amp;rft.number=0700009&amp;rft.cc=EP&amp;rft.title="><span style="display: none;">&#160;</span></span>).\n</p><p>Many independent inventors are in favor of patenting new insurance products since it gives them protection from big companies when they bring their new insurance products to market. Independent inventors account for 70% of the new U.S. patent applications in this area.\n</p><p>Many insurance executives are opposed to patenting insurance products because it creates a new risk for them. <a href="/wiki/The_Hartford" title="The Hartford">The Hartford</a> insurance company, for example, recently had to pay $80 million to an independent inventor, Bancorp Services, in order to settle a patent infringement and theft of trade secret lawsuit for a type of corporate owned life insurance product invented and patented by Bancorp.\n</p><p>There are currently about 150 new patent applications on insurance inventions filed per year in the United States. The rate at which patents have been issued has steadily risen from 15 in 2002 to 44 in 2006.<sup id="cite_ref-79" class="reference"><a href="#cite_note-79">&#91;78&#93;</a></sup>\n</p><p>The first insurance patent to be granted was<sup id="cite_ref-80" class="reference"><a href="#cite_note-80">&#91;79&#93;</a></sup> including another example of an application posted was <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090510094423/http://www.peertopatent.org/patent/20090055227/activity">US2009005522 "risk assessment company"</a>. It was posted on 6 March 2009. This patent application describes a method for increasing the ease of changing insurance companies.<sup id="cite_ref-81" class="reference"><a href="#cite_note-81">&#91;80&#93;</a></sup>\n</p>\n<h3><span class="mw-headline" id="Insurance_on_demand">Insurance on demand</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=47" title="Edit section: Insurance on demand">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Insurance on demand (also IoD) is an insurance service that provides clients with insurance protection when they need, i.e. only episodic rather than on <a href="/wiki/24/7_service" title="24/7 service">24/7</a> basis as typically provided by traditional insurers (e.g. clients can purchase an insurance for one single flight rather than a longer-lasting travel insurance plan).\n</p>\n<h3><span class="mw-headline" id="Insurance_industry_and_rent-seeking">Insurance industry and rent-seeking</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=48" title="Edit section: Insurance industry and rent-seeking">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Certain insurance products and practices have been described as <a href="/wiki/Rent-seeking" title="Rent-seeking">rent-seeking</a> by critics.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2008)">citation needed</span></a></i>&#93;</sup> That is, some insurance products or practices are useful primarily because of legal benefits, such as reducing taxes, as opposed to providing protection against risks of adverse events. Under <a href="/wiki/United_States_tax_law" class="mw-redirect" title="United States tax law">United States tax law</a>, for example, most owners of <a href="/wiki/Annuity_(US_financial_products)" class="mw-redirect" title="Annuity (US financial products)">variable annuities</a> and <a href="/wiki/Variable_universal_life_insurance" title="Variable universal life insurance">variable life insurance</a> can invest their premium payments in the <a href="/wiki/Stock_market" title="Stock market">stock market</a> and defer or eliminate paying any taxes on their investments until withdrawals are made. Sometimes this tax deferral is the only reason people use these products.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2008)">citation needed</span></a></i>&#93;</sup> Another example is the legal infrastructure which allows life insurance to be held in an irrevocable trust which is used to pay an <a href="/wiki/Inheritance_tax" title="Inheritance tax">estate tax</a> while the proceeds themselves are immune from the estate tax.\n</p>\n<h3><span class="mw-headline" id="Religious_concerns">Religious concerns</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=49" title="Edit section: Religious concerns">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<p>Muslim scholars have varying opinions about life insurance. Life insurance policies that earn interest (or guaranteed bonus/NAV) are generally considered to be a form of <i><a href="/wiki/Riba" title="Riba">riba</a></i><sup id="cite_ref-82" class="reference"><a href="#cite_note-82">&#91;81&#93;</a></sup> (<a href="/wiki/Usury" title="Usury">usury</a>) and some consider even policies that do not earn interest to be a form of <i>gharar</i> (<a href="/wiki/Speculation" title="Speculation">speculation</a>). Some argue that <i>gharar</i> is not present due to the actuarial science behind the underwriting.<sup id="cite_ref-83" class="reference"><a href="#cite_note-83">&#91;82&#93;</a></sup>\nJewish rabbinical scholars also have expressed reservations regarding insurance as an avoidance of God\'s will but most find it acceptable in moderation.<sup id="cite_ref-84" class="reference"><a href="#cite_note-84">&#91;83&#93;</a></sup>\n</p><p>Some Christians believe insurance represents a lack of faith<sup id="cite_ref-85" class="reference"><a href="#cite_note-85">&#91;84&#93;</a></sup><sup id="cite_ref-86" class="reference"><a href="#cite_note-86">&#91;85&#93;</a></sup> and there is a long history of resistance to commercial insurance in <a href="/wiki/Anabaptist" class="mw-redirect" title="Anabaptist">Anabaptist</a> communities (<a href="/wiki/Mennonites" title="Mennonites">Mennonites</a>, <a href="/wiki/Amish" title="Amish">Amish</a>, <a href="/wiki/Hutterites" title="Hutterites">Hutterites</a>, <a href="/wiki/Brethren_in_Christ" class="mw-redirect" title="Brethren in Christ">Brethren in Christ</a>) but many participate in community-based self-insurance programs that spread risk within their communities.<sup id="cite_ref-87" class="reference"><a href="#cite_note-87">&#91;86&#93;</a></sup><sup id="cite_ref-88" class="reference"><a href="#cite_note-88">&#91;87&#93;</a></sup><sup id="cite_ref-89" class="reference"><a href="#cite_note-89">&#91;88&#93;</a></sup>\n</p>\n<h2><span class="mw-headline" id="See_also">See also</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=50" title="Edit section: See also">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<style data-mw-deduplicate="TemplateStyles:r998391716">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 20em;">\n<ul><li><a href="/wiki/Agent_of_record" title="Agent of record">Agent of Record</a></li>\n<li><a href="/wiki/DIRTI_5" title="DIRTI 5">DIRTI 5</a></li>\n<li><a href="/wiki/Earthquake_insurance" title="Earthquake insurance">Earthquake loss</a></li>\n<li><a href="/wiki/Financial_adviser" title="Financial adviser">Financial adviser</a></li>\n<li><a href="/wiki/Financial_services" title="Financial services">Financial services</a> (broader industry to which insurance belongs)</li>\n<li><a href="/wiki/Geneva_Association" class="mw-redirect" title="Geneva Association">Geneva Association</a> (the International Association for the Study of Insurance Economics)</li>\n<li><a href="/wiki/Global_assets_under_management" title="Global assets under management">Global assets under management</a></li>\n<li><a href="/wiki/Insurance_broker" title="Insurance broker">Insurance broker</a></li>\n<li><a href="/wiki/Insurance_fraud" title="Insurance fraud">Insurance fraud</a></li>\n<li><a href="/wiki/Insurance_Hall_of_Fame" title="Insurance Hall of Fame">Insurance Hall of Fame</a></li>\n<li><a href="/wiki/Insurance_law" title="Insurance law">Insurance law</a></li>\n<li><a href="/wiki/Insurance_Premium_Tax_(UK)" class="mw-redirect" title="Insurance Premium Tax (UK)">Insurance Premium Tax (UK)</a></li>\n<li><a href="/wiki/List_of_Acts_of_Parliament_of_the_United_Kingdom_Parliament,_1960-1979#Public_Acts_19" class="mw-redirect" title="List of Acts of Parliament of the United Kingdom Parliament, 1960-1979">List of Acts of Parliament of the United Kingdom Parliament, 1960-1979</a></li>\n<li><a href="/wiki/Loss-control_consultant" title="Loss-control consultant">Loss-control consultant</a></li>\n<li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a></li>\n<li><a href="/wiki/Risk_pool" title="Risk pool">Intergovernmental Risk Pool</a></li>\n<li><i><a href="/wiki/The_Invisible_Bankers:_Everything_the_Insurance_Industry_Never_Wanted_You_to_Know" class="mw-redirect" title="The Invisible Bankers: Everything the Insurance Industry Never Wanted You to Know">The Invisible Bankers: Everything the Insurance Industry Never Wanted You to Know</a></i> (book)</li>\n<li><a href="/wiki/Outline_of_finance" title="Outline of finance">List of finance topics</a></li>\n<li><a href="/wiki/Outline_of_finance#Insurance" title="Outline of finance">List of insurance topics</a></li>\n<li><a href="/wiki/List_of_United_States_insurance_companies" title="List of United States insurance companies">List of United States insurance companies</a></li>\n<li><a href="/wiki/Social_security" class="mw-redirect" title="Social security">Social security</a></li>\n<li><i><a href="/wiki/Uberrima_fides" title="Uberrima fides">Uberrima fides</a></i></li>\n<li><a href="/wiki/Universal_health_care" title="Universal health care">Universal health care</a></li>\n<li><a href="/wiki/Welfare_state" title="Welfare state">Welfare state</a></li></ul>\n</div>\n<p>Country-specific articles:\n</p>\n<dl><dd><ul><li><a href="/wiki/Insurance_in_Australia" title="Insurance in Australia">Insurance in Australia</a></li>\n<li><a href="/wiki/Insurance_in_India" title="Insurance in India">Insurance in India</a></li>\n<li><a href="/wiki/Insurance_in_the_United_States" title="Insurance in the United States">Insurance in the United States</a></li>\n<li><a href="/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom">Insurance in the United Kingdom</a></li>\n<li><a href="/wiki/Insurance_industry_in_China" title="Insurance industry in China">Insurance industry in China</a></li></ul></dd></dl>\n<h2><span class="mw-headline" id="Notes">Notes</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=51" title="Edit section: Notes">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<style data-mw-deduplicate="TemplateStyles:r1011085734">.mw-parser-output .reflist{font-size:90%;margin-bottom:0.5em;list-style-type:decimal}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist">\n<div class="mw-references-wrap"><ol class="references">\n<li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text">However, the bankruptcy of the insured with a "reimbursement" policy does not relieve the insurer.  Certain types of insurance, e.g., workers\' compensation and personal automobile liability, are subject to statutory requirements that injured parties have direct access to coverage.</span>\n</li>\n</ol></div></div>\n<h2><span class="mw-headline" id="References">References</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=52" title="Edit section: References">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<h3><span class="mw-headline" id="Citations">Citations</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=53" title="Edit section: Citations">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1011085734"/><div class="reflist">\n<div class="mw-references-wrap mw-references-columns"><ol class="references">\n<li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r999302996">.mw-parser-output cite.citation{font-style:inherit}.mw-parser-output .citation q{quotes:"\\"""\\"""\'""\'"}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-ws-icon a{background:linear-gradient(transparent,transparent),url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-maint{display:none;color:#33aa33;margin-left:0.3em}.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}</style><cite id="CITEREFNovi_Dewan" class="citation book cs1">Novi Dewan. <i>Indian Life and Health Insurance Industry: A Marketing Approach</i>. Springer Science &amp; Business Media. p.&#160;2.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Indian+Life+and+Health+Insurance+Industry%3A+A+Marketing+Approach&amp;rft.pages=2&amp;rft.pub=Springer+Science+%26+Business+Media&amp;rft.au=Novi+Dewan&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text">See, e.g., Vaughan, E. J., 1997, <i>Risk Management</i>, New York: Wiley.</span>\n</li>\n<li id="cite_note-Sommer_1903_p._86-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-Sommer_1903_p._86_3-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFHammurabi1903" class="citation journal cs1"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1903). Translated by Sommer, Otto. <a rel="nofollow" class="external text" href="https://archive.org/details/cu31924060109703/mode/2up">"Code of Hammurabi, King of Babylon"</a>. <i>Records of the Past</i>. <a href="/wiki/Washington,_D.C." title="Washington, D.C.">Washington, DC</a>: <a href="/wiki/Records_of_the_Past_Exploration_Society" title="Records of the Past Exploration Society">Records of the Past Exploration Society</a>. <b>2</b> (3): <a rel="nofollow" class="external text" href="https://archive.org/details/cu31924060109703/page/n27/mode/2up">86</a><span class="reference-accessdate">. Retrieved <span class="nowrap">20 June</span> 2021</span>. <q>238. If a skipper wrecks ... money to its owner.</q></cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Records+of+the+Past&amp;rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&amp;rft.volume=2&amp;rft.issue=3&amp;rft.pages=86&amp;rft.date=1903&amp;rft.au=Hammurabi&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924060109703%2Fmode%2F2up&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-Harper_1904_p._85-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-Harper_1904_p._85_4-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFHammurabi1904" class="citation web cs1"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1904). <a rel="nofollow" class="external text" href="https://oll-resources.s3.us-east-2.amazonaws.com/oll3/store/titles/1276/0762_Bk.pdf">"Code of Hammurabi, King of Babylon"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Liberty_Fund" title="Liberty Fund">Liberty Fund</a></i>. Translated by Harper, Robert Francis (2nd&#160;ed.). <a href="/wiki/Chicago" title="Chicago">Chicago</a>: <a href="/wiki/University_of_Chicago_Press" title="University of Chicago Press">University of Chicago Press</a>. p.&#160;<a rel="nofollow" class="external text" href="https://oll.libertyfund.org/title/hammurabi-the-code-of-hammurabi#lf0762_label_461">85</a><span class="reference-accessdate">. Retrieved <span class="nowrap">20 June</span> 2021</span>. <q>\xc2\xa7238. If a boatman sink ... one-half its value.</q></cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Liberty+Fund&amp;rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&amp;rft.pages=85&amp;rft.date=1904&amp;rft.au=Hammurabi&amp;rft_id=https%3A%2F%2Foll-resources.s3.us-east-2.amazonaws.com%2Foll3%2Fstore%2Ftitles%2F1276%2F0762_Bk.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-King_1910-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-King_1910_5-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFHammurabi1910" class="citation web cs1"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1910). <a rel="nofollow" class="external text" href="https://avalon.law.yale.edu/ancient/hamframe.asp">"Code of Hammurabi, King of Babylon"</a>. <i><a href="/wiki/Avalon_Project" title="Avalon Project">Avalon Project</a></i>. Translated by King, Leonard William. <a href="/wiki/New_Haven,_Connecticut" title="New Haven, Connecticut">New Haven, CT</a>: <a href="/wiki/Yale_Law_School" title="Yale Law School">Yale Law School</a><span class="reference-accessdate">. Retrieved <span class="nowrap">20 June</span> 2021</span>. <q>238. If a sailor wreck ... its value in money.</q></cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Avalon+Project&amp;rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&amp;rft.date=1910&amp;rft.au=Hammurabi&amp;rft_id=https%3A%2F%2Favalon.law.yale.edu%2Fancient%2Fhamframe.asp&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://constitution.org/2-Authors/sps/sps01_4-2.htm">"The Civil Law, Volume I, The Opinions of Julius Paulus, Book II"</a>. <i><a href="/wiki/Constitution_Society" title="Constitution Society">Constitution.org</a></i>. Translated by Scott, S.P. Central Trust Company. 1932<span class="reference-accessdate">. Retrieved <span class="nowrap">16 June</span> 2021</span>. <q>TITLE VII. ON THE LEX RHODIA. It is provided by the <i>Lex Rhodia</i> that if merchandise is thrown overboard for the purpose of lightening a ship, the loss is made good by the assessment of all which is made for the benefit of all.</q></cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Constitution.org&amp;rft.atitle=The+Civil+Law%2C+Volume+I%2C+The+Opinions+of+Julius+Paulus%2C+Book+II&amp;rft.date=1932&amp;rft_id=https%3A%2F%2Fconstitution.org%2F2-Authors%2Fsps%2Fsps01_4-2.htm&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-Prudential_pp._5\xe2\x80\x936-7"><span class="mw-cite-backlink">^ <a href="#cite_ref-Prudential_pp._5\xe2\x80\x936_7-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Prudential_pp._5\xe2\x80\x936_7-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Prudential_pp._5\xe2\x80\x936_7-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation book cs1"><a rel="nofollow" class="external text" href="https://archive.org/details/cu31924030231736/mode/2up"><i>The Documentary History of Insurance, 1000 B.C.\xe2\x80\x931875 A.D.</i></a> <a href="/wiki/Newark,_New_Jersey" title="Newark, New Jersey">Newark, NJ</a>: <a href="/wiki/Prudential_Financial" title="Prudential Financial">Prudential Press</a>. 1915. pp.&#160;<a rel="nofollow" class="external text" href="https://archive.org/details/cu31924030231736/page/n7/mode/2up">5\xe2\x80\x936</a><span class="reference-accessdate">. Retrieved <span class="nowrap">15 June</span> 2021</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Documentary+History+of+Insurance%2C+1000+B.C.%E2%80%931875+A.D.&amp;rft.place=Newark%2C+NJ&amp;rft.pages=5-6&amp;rft.pub=Prudential+Press&amp;rft.date=1915&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924030231736%2Fmode%2F2up&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-Duhaime-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-Duhaime_8-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.duhaime.org/LawMuseum/LawArticle-383/Lex-Rhodia-The-Ancient-Ancestor-of-Maritime-Law-800--BC.aspx">"Duhaime\'s Timetable of World Legal History"</a>. <i>Duhaime\'s Law Dictionary</i><span class="reference-accessdate">. Retrieved <span class="nowrap">9 April</span> 2016</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Duhaime%27s+Law+Dictionary&amp;rft.atitle=Duhaime%27s+Timetable+of+World+Legal+History&amp;rft_id=http%3A%2F%2Fwww.duhaime.org%2FLawMuseum%2FLawArticle-383%2FLex-Rhodia-The-Ancient-Ancestor-of-Maritime-Law-800--BC.aspx&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation book cs1"><a rel="nofollow" class="external text" href="https://archive.org/details/cu31924030231736/mode/2up"><i>The Documentary History of Insurance, 1000 B.C.\xe2\x80\x931875 A.D.</i></a> <a href="/wiki/Newark,_New_Jersey" title="Newark, New Jersey">Newark, NJ</a>: <a href="/wiki/Prudential_Financial" title="Prudential Financial">Prudential Press</a>. 1915. pp.&#160;<a rel="nofollow" class="external text" href="https://archive.org/details/cu31924030231736/page/n9/mode/2up">6\xe2\x80\x937</a><span class="reference-accessdate">. Retrieved <span class="nowrap">15 June</span> 2021</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Documentary+History+of+Insurance%2C+1000+B.C.%E2%80%931875+A.D.&amp;rft.place=Newark%2C+NJ&amp;rft.pages=6-7&amp;rft.pub=Prudential+Press&amp;rft.date=1915&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924030231736%2Fmode%2F2up&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFTapas_Kumar_Parida,_Debashis_Acharya2016" class="citation book cs1">Tapas Kumar Parida, Debashis Acharya (2016). <i>The Life Insurance Industry in India: Current State and Efficiency</i>. Springer. p.&#160;2. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/9789811022333" title="Special:BookSources/9789811022333"><bdi>9789811022333</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Life+Insurance+Industry+in+India%3A+Current+State+and+Efficiency&amp;rft.pages=2&amp;rft.pub=Springer&amp;rft.date=2016&amp;rft.isbn=9789811022333&amp;rft.au=Tapas+Kumar+Parida%2C+Debashis+Acharya&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-EB1911-11"><span class="mw-cite-backlink">^ <a href="#cite_ref-EB1911_11-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-EB1911_11-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-EB1911_11-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFLewisIngram1911" class="citation encyclopaedia cs1">Lewis, Charlton; Ingram, Thomas (1911). <span class="cs1-ws-icon" title="s:1911 Encyclop\xc3\xa6dia Britannica/Insurance"><a class="external text" href="https://en.wikisource.org/wiki/1911_Encyclop%C3%A6dia_Britannica/Insurance">"Insurance"&#160;</a></span>.  In Chisholm, Hugh (ed.). <i><a href="/wiki/Encyclop%C3%A6dia_Britannica_Eleventh_Edition" title="Encyclop\xc3\xa6dia Britannica Eleventh Edition">Encyclop\xc3\xa6dia Britannica</a></i>. <b>14</b> (11th&#160;ed.). Cambridge University Press. pp.&#160;657\xe2\x80\x93658.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=bookitem&amp;rft.atitle=Insurance&amp;rft.btitle=Encyclop%C3%A6dia+Britannica&amp;rft.pages=657-658&amp;rft.edition=11th&amp;rft.pub=Cambridge+University+Press&amp;rft.date=1911&amp;rft.aulast=Lewis&amp;rft.aufirst=Charlton&amp;rft.au=Ingram%2C+Thomas&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text">J. Franklin, <i>The Science of Conjecture: Evidence and Probability Before Pascal</i> (Baltimore: Johns Hopkins University Press, 2001), 274-277.</span>\n</li>\n<li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text">Dickson (1960): 4</span>\n</li>\n<li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text">Dickson (1960): 7</span>\n</li>\n<li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFPalmer2007" class="citation encyclopaedia cs1">Palmer, Sarah (October 2007). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110715030319/http://press.oxforddnb.com/index/16/101016829/">"Lloyd, Edward (<i>c</i>.1648\xe2\x80\x931713)"</a>. <i><a href="/wiki/Dictionary_of_National_Biography#Oxford_Dictionary_of_National_Biography" title="Dictionary of National Biography">Oxford Dictionary of National Biography</a></i>. <b>1</b> (online&#160;ed.). Oxford University Press. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Fref%3Aodnb%2F16829">10.1093/ref:odnb/16829</a>. Archived from <a rel="nofollow" class="external text" href="http://press.oxforddnb.com/index/16/101016829">the original</a> on 15 July 2011<span class="reference-accessdate">. Retrieved <span class="nowrap">16 February</span> 2011</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=bookitem&amp;rft.atitle=Lloyd%2C+Edward+%28c.1648%E2%80%931713%29&amp;rft.btitle=Oxford+Dictionary+of+National+Biography&amp;rft.edition=online&amp;rft.pub=Oxford+University+Press&amp;rft.date=2007-10&amp;rft_id=info%3Adoi%2F10.1093%2Fref%3Aodnb%2F16829&amp;rft.aulast=Palmer&amp;rft.aufirst=Sarah&amp;rft_id=http%3A%2F%2Fpress.oxforddnb.com%2Findex%2F16%2F101016829&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span>&#x20;<span style="font-size:0.95em; font-size:90%; color:#555">(Subscription or <a rel="nofollow" class="external text" href="https://www.oxforddnb.com/help/subscribe#public">UK public library membership</a> required.)</span></span>\n</li>\n<li id="cite_note-Anzovin121-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-Anzovin121_16-0">^</a></b></span> <span class="reference-text">Anzovin, Steven, <i>Famous First Facts</i> 2000, item # 2422, H. W. Wilson Company, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/0-8242-0958-3" title="Special:BookSources/0-8242-0958-3">0-8242-0958-3</a> p. 121 <i>The first life insurance company known of record was founded in 1706 by the Bishop of Oxford and the financier Thomas Allen in London, England. The company, called the Amicable Society for a Perpetual Assurance Office, collected annual premiums from policyholders and paid the nominees of deceased members from a common fund.</i></span>\n</li>\n<li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text">Amicable Society, <i>The charters, acts of Parliament, and by-laws of the corporation of the Amicable Society for a perpetual assurance office</i>, Gilbert and Rivington, 1854, p. 4</span>\n</li>\n<li id="cite_note-eq-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-eq_18-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.equitable.co.uk/about-us/history-and-facts/">"Today and History:The History of Equitable Life"</a>. 26 June 2009<span class="reference-accessdate">. Retrieved <span class="nowrap">16 August</span> 2009</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Today+and+History%3AThe+History+of+Equitable+Life&amp;rft.date=2009-06-26&amp;rft_id=http%3A%2F%2Fwww.equitable.co.uk%2Fabout-us%2Fhistory-and-facts%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090717201207/http://ca.encarta.msn.com/encyclopedia_761576408_8/Health_Insurance.html">"Encarta: Health Insurance"</a>. Archived from <a rel="nofollow" class="external text" href="https://ca.encarta.msn.com/encyclopedia_761576408_8/Health_Insurance.html#s49">the original</a> on 17 July 2009.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Encarta%3A+Health+Insurance&amp;rft_id=http%3A%2F%2Fca.encarta.msn.com%2Fencyclopedia_761576408_8%2FHealth_Insurance.html%23s49&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-EPH-20"><span class="mw-cite-backlink">^ <a href="#cite_ref-EPH_20-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-EPH_20-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">E. P. Hennock, <i>The Origin of the Welfare State in England and Germany, 1850\xe2\x80\x931914: Social Policies Compared</i> (2007)</span>\n</li>\n<li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text">Hermann Beck, <i>Origins of the Authoritarian Welfare State in Prussia, 1815-1870</i> (1995)</span>\n</li>\n<li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.nationalarchives.gov.uk/cabinetpapers/themes/national-health-insurance.htm">The Cabinet Papers 1915-1982: National Health Insurance Act 1911.</a> The National Archives, 2013. Retrieved 30 June 2013.</span>\n</li>\n<li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text">Bentley B. Gilbert, <i>British social policy, 1914-1939</i> (1970)</span>\n</li>\n<li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text">Gollier C. (2003). <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/41953424?seq=1#page_scan_tab_contents">To Insure or Not to Insure?: An Insurance Puzzle</a>. <i>The Geneva Papers on Risk and Insurance Theory</i>.</span>\n</li>\n<li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text">This discussion is adapted from Mehr and Camack "Principles of Insurance", 6th edition, 1976, pp 34 \xe2\x80\x93 37.</span>\n</li>\n<li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text">Irish Brokers Association. <a rel="nofollow" class="external text" href="https://www.iba.ie/development2009/index.php?option=com_content&amp;view=article&amp;id=76&amp;Itemid=167">Insurance Principles</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090411184958/http://www.iba.ie/development2009/index.php?option=com_content&amp;view=article&amp;id=76&amp;Itemid=167">Archived</a> 11 April 2009 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>.</span>\n</li>\n<li id="cite_note-KulpHall-27"><span class="mw-cite-backlink">^ <a href="#cite_ref-KulpHall_27-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-KulpHall_27-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">C. Kulp &amp; J. Hall, Casualty Insurance, Fourth Edition, 1968, page 35</span>\n</li>\n<li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFMenapace2019" class="citation news cs1">Menapace, Michael (10 March 2019). <a rel="nofollow" class="external text" href="https://www.natlawreview.com/article/property-insurance-cyber-insurance-coverage-and-war-losses-malware-may-not-be-0">"Losses From Malware May Not Be Covered Due To Your Policy\'s Hostile Acts Exclusion"</a>. <i>The National Law Review</i><span class="reference-accessdate">. Retrieved <span class="nowrap">25 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=The+National+Law+Review&amp;rft.atitle=Losses+From+Malware+May+Not+Be+Covered+Due+To+Your+Policy%27s+Hostile+Acts+Exclusion&amp;rft.date=2019-03-10&amp;rft.aulast=Menapace&amp;rft.aufirst=Michael&amp;rft_id=https%3A%2F%2Fwww.natlawreview.com%2Farticle%2Fproperty-insurance-cyber-insurance-coverage-and-war-losses-malware-may-not-be-0&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFStock2019" class="citation news cs1">Stock, Rob (19 March 2019). <a rel="nofollow" class="external text" href="https://www.stuff.co.nz/national/christchurch-shooting/111397687/insurers-waive-terrorism-exclusions-for-christchurch-shooting-victims">"Insurers waive terrorism exclusions for Christchurch shooting victims"</a>. <i>Stuff</i><span class="reference-accessdate">. Retrieved <span class="nowrap">25 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Stuff&amp;rft.atitle=Insurers+waive+terrorism+exclusions+for+Christchurch+shooting+victims&amp;rft.date=2019-03-19&amp;rft.aulast=Stock&amp;rft.aufirst=Rob&amp;rft_id=https%3A%2F%2Fwww.stuff.co.nz%2Fnational%2Fchristchurch-shooting%2F111397687%2Finsurers-waive-terrorism-exclusions-for-christchurch-shooting-victims&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text">California State PTA (2019), <a rel="nofollow" class="external text" href="http://downloads.capta.org/Leaders/Insurance/CAPTA_Insurance_Guide_2019_FINAL.pdf">Insurance Guide</a>, revised April 2019, accessed 19 December 2020</span>\n</li>\n<li id="cite_note-ZweifelEisen2012-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-ZweifelEisen2012_32-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFPeter_ZweifelRoland_Eisen2012" class="citation book cs1">Peter Zweifel; Roland Eisen (24 February 2012). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=D_8qzz5soE8C&amp;pg=PA268"><i>Insurance Economics</i></a>. Springer Science &amp; Business Media. pp.&#160;268\xe2\x80\x93. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/978-3-642-20547-7" title="Special:BookSources/978-3-642-20547-7"><bdi>978-3-642-20547-7</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Insurance+Economics&amp;rft.pages=268-&amp;rft.pub=Springer+Science+%26+Business+Media&amp;rft.date=2012-02-24&amp;rft.isbn=978-3-642-20547-7&amp;rft.au=Peter+Zweifel&amp;rft.au=Roland+Eisen&amp;rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DD_8qzz5soE8C%26pg%3DPA268&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><a href="/wiki/Howard_Kunreuther" title="Howard Kunreuther">Kunreuther H.</a> (1996). <a rel="nofollow" class="external text" href="http://opim.wharton.upenn.edu/risk/downloads/archive/arch167.pdf">Mitigating Disaster Losses Through Insurance</a>. <i>Journal of Risk and Uncertainty</i>.</span>\n</li>\n<li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text">Brown RL. (1993). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=1j4O50JENE4C">Introduction to Ratemaking and Loss Reserving for Property and Casualty Insurance</a>. ACTEX Publications.</span>\n</li>\n<li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFFeldsteinFabozzi2008" class="citation book cs1">Feldstein, Sylvan G.; Fabozzi, Frank J. (2008). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=Juc4fb1Fx1cC&amp;pg=PA614"><i>The Handbook of Municipal Bonds</i></a>. <a href="/wiki/John_Wiley_%26_Sons" class="mw-redirect" title="John Wiley &amp; Sons">Wiley</a>. p.&#160;614. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/978-0-470-10875-8" title="Special:BookSources/978-0-470-10875-8"><bdi>978-0-470-10875-8</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">8 February</span> 2010</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Handbook+of+Municipal+Bonds&amp;rft.pages=614&amp;rft.pub=Wiley&amp;rft.date=2008&amp;rft.isbn=978-0-470-10875-8&amp;rft.aulast=Feldstein&amp;rft.aufirst=Sylvan+G.&amp;rft.au=Fabozzi%2C+Frank+J.&amp;rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DJuc4fb1Fx1cC%26pg%3DPA614&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.abi.org.uk/About_The_ABI/role.aspx">What we do ABI</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20090907134048/http://www.abi.org.uk/About_The_ABI/role.aspx">Archived</a> 7 September 2009 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>. Abi.org.uk. Retrieved on 18 July 2013.</span>\n</li>\n<li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFFeinman2010" class="citation book cs1">Feinman, Jay M. (2010). <i>Delay, Deny, Defend&#160;: Why Insurance Companies Don\'t Pay Claims and What You Can Do About It</i>. Portfolio. p.&#160;16. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/9781101196281" title="Special:BookSources/9781101196281"><bdi>9781101196281</bdi></a>. <a href="/wiki/OCLC_(identifier)" class="mw-redirect" title="OCLC (identifier)">OCLC</a>&#160;<a rel="nofollow" class="external text" href="//www.worldcat.org/oclc/883320058">883320058</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Delay%2C+Deny%2C+Defend+%3A+Why+Insurance+Companies+Don%27t+Pay+Claims+and+What+You+Can+Do+About+It&amp;rft.pages=16&amp;rft.pub=Portfolio&amp;rft.date=2010&amp;rft_id=info%3Aoclcnum%2F883320058&amp;rft.isbn=9781101196281&amp;rft.aulast=Feinman&amp;rft.aufirst=Jay+M.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-38">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFWeirHampton1995" class="citation journal cs1">Weir, Audrey A.; Hampton, John H. 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"Essentials of Risk Management and Insurance". <i>The Journal of Risk and Insurance</i>. <b>62</b> (1): 157. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2307%2F253703">10.2307/253703</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a>&#160;<a rel="nofollow" class="external text" href="//www.worldcat.org/issn/0022-4367">0022-4367</a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a>&#160;<a rel="nofollow" class="external text" href="//www.jstor.org/stable/253703">253703</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=The+Journal+of+Risk+and+Insurance&amp;rft.atitle=Essentials+of+Risk+Management+and+Insurance&amp;rft.volume=62&amp;rft.issue=1&amp;rft.pages=157&amp;rft.date=1995-03&amp;rft.issn=0022-4367&amp;rft_id=%2F%2Fwww.jstor.org%2Fstable%2F253703%23id-name%3DJSTOR&amp;rft_id=info%3Adoi%2F10.2307%2F253703&amp;rft.aulast=Weir&amp;rft.aufirst=Audrey+A.&amp;rft.au=Hampton%2C+John+H.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-39"><span class="mw-cite-backlink"><b><a href="#cite_ref-39">^</a></b></span> <span class="reference-text">\nFitzpatrick, Sean, <a rel="nofollow" class="external text" href="https://ssrn.com/abstract=690316"><i>Fear is the Key: A Behavioral Guide to Underwriting Cycles,</i></a> 10 Conn. Ins. L.J. 255 (2004).</span>\n</li>\n<li id="cite_note-40"><span class="mw-cite-backlink"><b><a href="#cite_ref-40">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFBergerCumminsWeiss1997" class="citation journal cs1">Berger, Allen N.; Cummins, J. David; Weiss, Mary A. (October 1997). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20000919231814/http://wrdsenet.wharton.upenn.edu/fic/wfic/papers/95/9513.pdf">"The Coexistence of Multiple Distribution Systems for Financial Services: The Case of Property-Liability Insurance"</a> <span class="cs1-format">(PDF)</span>. <i>Journal of Business</i>. <b>70</b> (4): 515\xe2\x80\x9346. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1086%2F209730">10.1086/209730</a>. Archived from <a rel="nofollow" class="external text" href="http://wrdsenet.wharton.upenn.edu/fic/wfic/papers/95/9513.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 19 September 2000.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Journal+of+Business&amp;rft.atitle=The+Coexistence+of+Multiple+Distribution+Systems+for+Financial+Services%3A+The+Case+of+Property-Liability+Insurance.&amp;rft.volume=70&amp;rft.issue=4&amp;rft.pages=515-46&amp;rft.date=1997-10&amp;rft_id=info%3Adoi%2F10.1086%2F209730&amp;rft.aulast=Berger&amp;rft.aufirst=Allen+N.&amp;rft.au=Cummins%2C+J.+David&amp;rft.au=Weiss%2C+Mary+A.&amp;rft_id=http%3A%2F%2Fwrdsenet.wharton.upenn.edu%2Ffic%2Fwfic%2Fpapers%2F95%2F9513.pdf&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span> (<a rel="nofollow" class="external text" href="http://fic.wharton.upenn.edu/fic/papers/95/9513.pdf">online draft</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20100622075631/http://fic.wharton.upenn.edu/fic/papers/95/9513.pdf">Archived</a> 22 June 2010 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>)</span>\n</li>\n<li id="cite_note-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-41">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFInsurance_Information_Institute" class="citation web cs1"><a href="/wiki/Insurance_Information_Institute" title="Insurance Information Institute">Insurance Information Institute</a>. <a rel="nofollow" class="external text" href="http://www.iii.org/individuals/business/basics/bop/">"Business insurance information. What does a businessowners policy cover?"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">9 May</span> 2007</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Business+insurance+information.+What+does+a+businessowners+policy+cover%3F&amp;rft.au=Insurance+Information+Institute&amp;rft_id=http%3A%2F%2Fwww.iii.org%2Findividuals%2Fbusiness%2Fbasics%2Fbop%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-42">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://adjustersinternational.com/publications/adjusting-today/builders-risk-insurance/1/">"Builder\'s Risk Insurance: Specialized Coverage for Construction Projects"</a>. <i>Adjusting Today</i>. 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Retrieved <span class="nowrap">16 October</span> 2009</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Adjusting+Today&amp;rft.atitle=Builder%27s+Risk+Insurance%3A+Specialized+Coverage+for+Construction+Projects&amp;rft_id=http%3A%2F%2Fadjustersinternational.com%2Fpublications%2Fadjusting-today%2Fbuilders-risk-insurance%2F1%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-Ali-et-al-2020-43"><span class="mw-cite-backlink">^ <a href="#cite_ref-Ali-et-al-2020_43-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Ali-et-al-2020_43-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Ali-et-al-2020_43-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFAliAbdulaiMishra2020" class="citation journal cs1">Ali, Williams; Abdulai, Awudu; Mishra, Ashok K. (6 October 2020). "Recent Advances in the Analyses of Demand for Agricultural Insurance in Developing and Emerging Countries". <i><a href="/wiki/Annual_Review_of_Resource_Economics" title="Annual Review of Resource Economics">Annual Review of Resource Economics</a></i>. <a href="/wiki/Annual_Reviews_(publisher)" title="Annual Reviews (publisher)">Annual Reviews</a>. <b>12</b> (1): 411\xe2\x80\x93430. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1146%2Fannurev-resource-110119-025306">10.1146/annurev-resource-110119-025306</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a>&#160;<a rel="nofollow" class="external text" href="//www.worldcat.org/issn/1941-1340">1941-1340</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Annual+Review+of+Resource+Economics&amp;rft.atitle=Recent+Advances+in+the+Analyses+of+Demand+for+Agricultural+Insurance+in+Developing+and+Emerging+Countries&amp;rft.volume=12&amp;rft.issue=1&amp;rft.pages=411-430&amp;rft.date=2020-10-06&amp;rft_id=info%3Adoi%2F10.1146%2Fannurev-resource-110119-025306&amp;rft.issn=1941-1340&amp;rft.aulast=Ali&amp;rft.aufirst=Williams&amp;rft.au=Abdulai%2C+Awudu&amp;rft.au=Mishra%2C+Ashok+K.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-44"><span class="mw-cite-backlink"><b><a href="#cite_ref-44">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1041539562"/><span class="citation patent" id="harv"><a rel="nofollow" class="external text" href="https://worldwide.espacenet.com/textdoc?DB=EPODOC&amp;IDX=US20,060,287,896">US&#32;application 20,060,287,896</a></span><span class="Z3988" title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Apatent&amp;rft.applnumber=20,060,287,896&amp;rft.cc=US&amp;rft.title="><span style="display: none;">&#160;</span></span> "Method for providing crop insurance for a crop associated with a defined attribute"</span>\n</li>\n<li id="cite_note-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-45">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFBornSpillaneMurray2018" class="citation journal cs1">Born, Lorna; Spillane, Charles; Murray, Una (20 December 2018). "Integrating gender into index-based agricultural insurance: a focus on South Africa". <i>Development in Practice</i>. <b>29</b> (4): 409\xe2\x80\x93423. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F09614524.2018.1556608">10.1080/09614524.2018.1556608</a>. <a href="/wiki/Hdl_(identifier)" class="mw-redirect" title="Hdl (identifier)">hdl</a>:<span class="cs1-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="//hdl.handle.net/10568%2F102499">10568/102499</a></span>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a>&#160;<a rel="nofollow" class="external text" href="//www.worldcat.org/issn/0961-4524">0961-4524</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a>&#160;<a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:158288729">158288729</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Development+in+Practice&amp;rft.atitle=Integrating+gender+into+index-based+agricultural+insurance%3A+a+focus+on+South+Africa&amp;rft.volume=29&amp;rft.issue=4&amp;rft.pages=409-423&amp;rft.date=2018-12-20&amp;rft_id=info%3Ahdl%2F10568%2F102499&amp;rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A158288729%23id-name%3DS2CID&amp;rft.issn=0961-4524&amp;rft_id=info%3Adoi%2F10.1080%2F09614524.2018.1556608&amp;rft.aulast=Born&amp;rft.aufirst=Lorna&amp;rft.au=Spillane%2C+Charles&amp;rft.au=Murray%2C+Una&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-46">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFInsurance_Information_Institute" class="citation web cs1"><a href="/wiki/Insurance_Information_Institute" title="Insurance Information Institute">Insurance Information Institute</a>. <a rel="nofollow" class="external text" href="http://www.iii.org/individuals/homei/hbasics/whatis/">"What is homeowners insurance?"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">11 November</span> 2008</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=What+is+homeowners+insurance%3F&amp;rft.au=Insurance+Information+Institute&amp;rft_id=http%3A%2F%2Fwww.iii.org%2Findividuals%2Fhomei%2Fhbasics%2Fwhatis%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-47"><span class="mw-cite-backlink"><b><a href="#cite_ref-47">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFMiller" class="citation web cs1">Miller, Nathan. <a rel="nofollow" class="external text" href="https://www.forbes.com/sites/forbesrealestatecouncil/2019/09/10/insurance-for-landlords-protecting-your-investment/">"Insurance For Landlords: Protecting Your Investment"</a>. <i>Forbes</i><span class="reference-accessdate">. Retrieved <span class="nowrap">27 October</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Forbes&amp;rft.atitle=Insurance+For+Landlords%3A+Protecting+Your+Investment&amp;rft.aulast=Miller&amp;rft.aufirst=Nathan&amp;rft_id=https%3A%2F%2Fwww.forbes.com%2Fsites%2Fforbesrealestatecouncil%2F2019%2F09%2F10%2Finsurance-for-landlords-protecting-your-investment%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-48"><span class="mw-cite-backlink"><b><a href="#cite_ref-48">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFSeamanKittredge1997" class="citation journal cs1">Seaman, S. M.; Kittredge, C. (Spring 1997). "Excess Liability Insurance: Law and Litigation". <i>Tort &amp; Insurance Law Journal</i>. <b>32</b> (3): 653\xe2\x80\x93714. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a>&#160;<a rel="nofollow" class="external text" href="//www.jstor.org/stable/25763179">25763179</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Tort+%26+Insurance+Law+Journal&amp;rft.atitle=Excess+Liability+Insurance%3A+Law+and+Litigation&amp;rft.ssn=spring&amp;rft.volume=32&amp;rft.issue=3&amp;rft.pages=653-714&amp;rft.date=1997&amp;rft_id=%2F%2Fwww.jstor.org%2Fstable%2F25763179%23id-name%3DJSTOR&amp;rft.aulast=Seaman&amp;rft.aufirst=S.+M.&amp;rft.au=Kittredge%2C+C.&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-49"><span class="mw-cite-backlink"><b><a href="#cite_ref-49">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.business.gov/manage/business-insurance/insurance-types.html">Types of Business Insurance | SBA.gov</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20100629042726/http://www.business.gov/manage/business-insurance/insurance-types.html">Archived</a> 29 June 2010 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>. Business.gov. Retrieved on 18 July 2013.</span>\n</li>\n<li id="cite_note-50"><span class="mw-cite-backlink"><b><a href="#cite_ref-50">^</a></b></span> <span class="reference-text">Breathe Insurance Brokers Ltd., <a rel="nofollow" class="external text" href="http://www.breatheinsurance.co.uk/business-insurance/plant-hire-insurance/">Plant Hire Insurance</a>, accessed 1 November 2020</span>\n</li>\n<li id="cite_note-51"><span class="mw-cite-backlink"><b><a href="#cite_ref-51">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFBlitzSchoenberg" class="citation journal cs1">Blitz, Gary; Schoenberg, Daniel. <a rel="nofollow" class="external text" href="https://www.transactionadvisors.com/insights/private-reits-facilitating-cleaner-exit-tax-insurance">"Private REITs: Facilitating a Cleaner Exit with Tax Insurance"</a>. <i>Transaction Advisors</i>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a>&#160;<a rel="nofollow" class="external text" href="//www.worldcat.org/issn/2329-9134">2329-9134</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Transaction+Advisors&amp;rft.atitle=Private+REITs%3A+Facilitating+a+Cleaner+Exit+with+Tax+Insurance&amp;rft.issn=2329-9134&amp;rft.aulast=Blitz&amp;rft.aufirst=Gary&amp;rft.au=Schoenberg%2C+Daniel&amp;rft_id=https%3A%2F%2Fwww.transactionadvisors.com%2Finsights%2Fprivate-reits-facilitating-cleaner-exit-tax-insurance&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-52"><span class="mw-cite-backlink"><b><a href="#cite_ref-52">^</a></b></span> <span class="reference-text">Margaret E. Lynch, Editor, "Health Insurance Terminology", Health Insurance Association of America, 1992, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/1-879143-13-5" title="Special:BookSources/1-879143-13-5">1-879143-13-5</a></span>\n</li>\n<li id="cite_note-53"><span class="mw-cite-backlink"><b><a href="#cite_ref-53">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFLencsis1998" class="citation book cs1">Lencsis, Peter M. (1998). <a rel="nofollow" class="external text" href="https://archive.org/details/workerscompensat00lenc/page/75/mode/2up"><i>Workers compensation&#160;: a reference and guide</i></a>. Westport, Connecticut: Quorum Books. pp.&#160;75\xe2\x80\x9376. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/9781567201741" title="Special:BookSources/9781567201741"><bdi>9781567201741</bdi></a><span class="reference-accessdate">. Retrieved <span class="nowrap">30 December</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Workers+compensation+%3A+a+reference+and+guide&amp;rft.place=Westport%2C+Connecticut&amp;rft.pages=75-76&amp;rft.pub=Quorum+Books&amp;rft.date=1998&amp;rft.isbn=9781567201741&amp;rft.aulast=Lencsis&amp;rft.aufirst=Peter+M.&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fworkerscompensat00lenc%2Fpage%2F75%2Fmode%2F2up&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-Teale2013-54"><span class="mw-cite-backlink">^ <a href="#cite_ref-Teale2013_54-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Teale2013_54-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFTeale2013" class="citation book cs1">Teale, John (2013). <i>Insurance and Risk Management</i>. Sydney, Australia: CCH/Wolters Kluwer. p.&#160;40. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/978-1-922042-88-0" title="Special:BookSources/978-1-922042-88-0"><bdi>978-1-922042-88-0</bdi></a>. <q>Risk retention occurs when an individual or business firm retains all or part of a given risk. Risk retention is generally appropriate when the frequency of loss is low and its severity is low. Risk retention can also be appropriate for high-frequency, low-severity risks where potential losses are of low value. Risk retention can be either active or passive. Active risk retention refers to the situation where an individual recognises the risk and deliberately elects to retain all or part of that risk. This may be achieved by a firm or individual electing to carry the first $500 of any loss as a policy excess (or deductible). An excess (or deductible) is a provision in the policy whereby a specified amount is deducted from the loss payment otherwise payable to the insured. Alternatively, the risk manager may decide to self-insure the entire risk thereby saving what they would have paid as an insurance premium. Active risk retention is used because a policy excess will eliminate small policy claims and the administrative expense of adjusting these claims resulting in reduced premiums. It is also used where insurance is either unavailable or too expensive.</q></cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Insurance+and+Risk+Management&amp;rft.place=Sydney%2C+Australia&amp;rft.pages=40&amp;rft.pub=CCH%2FWolters+Kluwer&amp;rft.date=2013&amp;rft.isbn=978-1-922042-88-0&amp;rft.aulast=Teale&amp;rft.aufirst=John&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-55"><span class="mw-cite-backlink"><b><a href="#cite_ref-55">^</a></b></span> <span class="reference-text">Marcos Antonio Mendoza, "Reinsurance as Governance: Governmental Risk Management Pools as a Case Study in the Governance Role Played by Reinsurance Institutions", 21 Conn. Ins. L.J. 53, 55-60 (2014) <a rel="nofollow" class="external free" href="https://ssrn.com/abstract=2573253">https://ssrn.com/abstract=2573253</a></span>\n</li>\n<li id="cite_note-:0-56"><span class="mw-cite-backlink">^ <a href="#cite_ref-:0_56-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:0_56-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.investopedia.com/features/industryhandbook/insurance.asp">"The Industry Handbook: The Insurance Industry"</a>. <i>Investopedia</i>. 7 January 2004. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180907000042/https://www.investopedia.com/features/industryhandbook/insurance.asp">Archived</a> from the original on 7 September 2018<span class="reference-accessdate">. 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Retrieved <span class="nowrap">18 January</span> 2010</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Islam+Question+and+Answer+%E2%80%93+The+true+nature+of+insurance+and+the+rulings+concerning+it&amp;rft_id=http%3A%2F%2Fislamqa.com%2Fen%2Fref%2F8889%2Finsurance&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-83"><span class="mw-cite-backlink"><b><a href="#cite_ref-83">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20100522222040/http://www.islamonline.net/servlet/Satellite?pagename=IslamOnline-English-Ask_Scholar%2FFatwaE%2FFatwaE&amp;cid=1119503543412">"Life Insurance from an Islamic Perspective"</a>. Archived from <a rel="nofollow" class="external text" href="https://www.islamonline.net/servlet/Satellite?pagename=IslamOnline-English-Ask_Scholar/FatwaE/FatwaE&amp;cid=1119503543412">the original</a> on 22 May 2010<span class="reference-accessdate">. Retrieved <span class="nowrap">18 January</span> 2010</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Life+Insurance+from+an+Islamic+Perspective&amp;rft_id=http%3A%2F%2Fwww.islamonline.net%2Fservlet%2FSatellite%3Fpagename%3DIslamOnline-English-Ask_Scholar%2FFatwaE%2FFatwaE%26cid%3D1119503543412&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-84"><span class="mw-cite-backlink"><b><a href="#cite_ref-84">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20100419131351/http://www.jabe.org/insurance.html">"Jewish Association for Business Ethics \xe2\x80\x93 Insurance"</a>. Archived from <a rel="nofollow" class="external text" href="http://www.jabe.org/insurance.html">the original</a> on 19 April 2010<span class="reference-accessdate">. Retrieved <span class="nowrap">25 March</span> 2008</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Jewish+Association+for+Business+Ethics+%E2%80%93+Insurance&amp;rft_id=http%3A%2F%2Fwww.jabe.org%2Finsurance.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-85"><span class="mw-cite-backlink"><b><a href="#cite_ref-85">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.faithinbusiness.org/Articles/590904/Insurance_A_Christian.aspx">"Insurance: A Christian Perspective - Faith in Business"</a>. <i>www.faith-in-business.org</i><span class="reference-accessdate">. Retrieved <span class="nowrap">5 January</span> 2021</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=www.faith-in-business.org&amp;rft.atitle=Insurance%3A+A+Christian+Perspective+-+Faith+in+Business&amp;rft_id=https%3A%2F%2Fwww.faithinbusiness.org%2FArticles%2F590904%2FInsurance_A_Christian.aspx&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-86"><span class="mw-cite-backlink"><b><a href="#cite_ref-86">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.crosswalk.com/family/finances/planning/is-your-insurance-a-lack-of-faith-in-god.html">"Should Christians Buy Insurance?"</a>. <i>Crosswalk.com</i><span class="reference-accessdate">. Retrieved <span class="nowrap">25 December</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=Crosswalk.com&amp;rft.atitle=Should+Christians+Buy+Insurance%3F&amp;rft_id=https%3A%2F%2Fwww.crosswalk.com%2Ffamily%2Ffinances%2Fplanning%2Fis-your-insurance-a-lack-of-faith-in-god.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-87"><span class="mw-cite-backlink"><b><a href="#cite_ref-87">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFRubinkam2006" class="citation news cs1">Rubinkam, Michael (5 October 2006). <a rel="nofollow" class="external text" href="https://www.washingtonpost.com/wp-dyn/content/article/2006/10/05/AR2006100501360.html">"Amish Reluctantly Accept Donations"</a>. <i>The Washington Post</i><span class="reference-accessdate">. Retrieved <span class="nowrap">25 March</span> 2008</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=The+Washington+Post&amp;rft.atitle=Amish+Reluctantly+Accept+Donations&amp;rft.date=2006-10-05&amp;rft.aulast=Rubinkam&amp;rft.aufirst=Michael&amp;rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fwp-dyn%2Fcontent%2Farticle%2F2006%2F10%2F05%2FAR2006100501360.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-88"><span class="mw-cite-backlink"><b><a href="#cite_ref-88">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFDonald_B._Kraybill1989" class="citation book cs1">Donald B. Kraybill (1989). <span class="cs1-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/riddleofamishcu000kray"><i>The riddle of Amish culture</i></a></span>. Baltimore&#160;: Johns Hopkins University Press. p.&#160;277. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/978-0-8018-3682-4" title="Special:BookSources/978-0-8018-3682-4"><bdi>978-0-8018-3682-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+riddle+of+Amish+culture&amp;rft.pages=277&amp;rft.pub=Baltimore+%3A+Johns+Hopkins+University+Press&amp;rft.date=1989&amp;rft.isbn=978-0-8018-3682-4&amp;rft.au=Donald+B.+Kraybill&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Friddleofamishcu000kray&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n<li id="cite_note-89"><span class="mw-cite-backlink"><b><a href="#cite_ref-89">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.gameo.org/encyclopedia/contents/I583ME.html">"Global Anabaptist Mennonite Encyclopedia Online, Insurance"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">18 January</span> 2010</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=Global+Anabaptist+Mennonite+Encyclopedia+Online%2C+Insurance&amp;rft_id=http%3A%2F%2Fwww.gameo.org%2Fencyclopedia%2Fcontents%2FI583ME.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></span>\n</li>\n</ol></div></div>\n<h3><span class="mw-headline" id="Sources">Sources</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=54" title="Edit section: Sources">edit</a><span class="mw-editsection-bracket">]</span></span></h3>\n<style data-mw-deduplicate="TemplateStyles:r1011217839">.mw-parser-output .refbegin{font-size:90%;margin-bottom:0.5em}.mw-parser-output .refbegin-hanging-indents>ul{margin-left:0}.mw-parser-output .refbegin-hanging-indents>ul>li{margin-left:0;padding-left:3.2em;text-indent:-3.2em}.mw-parser-output .refbegin-hanging-indents ul,.mw-parser-output .refbegin-hanging-indents ul li{list-style:none}@media(max-width:720px){.mw-parser-output .refbegin-hanging-indents>ul>li{padding-left:1.6em;text-indent:-1.6em}}.mw-parser-output .refbegin-100{font-size:100%}.mw-parser-output .refbegin-columns{margin-top:0.3em}.mw-parser-output .refbegin-columns ul{margin-top:0}.mw-parser-output .refbegin-columns li{page-break-inside:avoid;break-inside:avoid-column}</style><div class="refbegin" style="">\n<ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFDickson1960" class="citation book cs1">Dickson, P. G. M. (1960). <span class="cs1-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/suninsuranceoffi0000dick"><i>The Sun Insurance Office 1710\xe2\x80\x931960: The History of Two and a half Centuries of British Insurance</i></a></span>. London, England: Oxford University Press. p.&#160;<a rel="nofollow" class="external text" href="https://archive.org/details/suninsuranceoffi0000dick/page/324">324</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=The+Sun+Insurance+Office+1710%E2%80%931960%3A+The+History+of+Two+and+a+half+Centuries+of+British+Insurance&amp;rft.place=London%2C+England&amp;rft.pages=324&amp;rft.pub=Oxford+University+Press&amp;rft.date=1960&amp;rft.aulast=Dickson&amp;rft.aufirst=P.+G.+M.&amp;rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fsuninsuranceoffi0000dick&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3AInsurance" class="Z3988"></span></li></ul>\n</div>\n<h2><span class="mw-headline" id="External_links">External links</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Insurance&amp;action=edit&amp;section=55" title="Edit section: External links">edit</a><span class="mw-editsection-bracket">]</span></span></h2>\n<div role="navigation" aria-labelledby="sister-projects" class="metadata plainlinks sistersitebox plainlist mbox-small" style="border:1px solid #aaa;padding:0;background:#f9f9f9"><div style="padding:0.75em 0;text-align:center"><b style="display:block">Insurance</b>at Wikipedia\'s <a href="/wiki/Wikipedia:Wikimedia_sister_projects" title="Wikipedia:Wikimedia sister projects"><span id="sister-projects">sister projects</span></a></div><ul style="border-top:1px solid #aaa;padding:0.75em 0;width:217px;margin:0 auto"><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/0/06/Wiktionary-logo-v2.svg/27px-Wiktionary-logo-v2.svg.png" decoding="async" width="27" height="27" style="vertical-align: middle" srcset="//upload.wikimedia.org/wikipedia/en/thumb/0/06/Wiktionary-logo-v2.svg/41px-Wiktionary-logo-v2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/0/06/Wiktionary-logo-v2.svg/54px-Wiktionary-logo-v2.svg.png 2x" data-file-width="391" data-file-height="391" /></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a href="https://en.wiktionary.org/wiki/Special:Search/Insurance" class="extiw" title="wikt:Special:Search/Insurance">Definitions</a> from Wiktionary</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/20px-Commons-logo.svg.png" decoding="async" width="20" height="27" style="vertical-align: middle" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/40px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a href="https://commons.wikimedia.org/wiki/Category:Insurance" class="extiw" title="c:Category:Insurance">Media</a> from Wikimedia Commons</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/27px-Wikinews-logo.svg.png" decoding="async" width="27" height="15" style="vertical-align: middle" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/41px-Wikinews-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/24/Wikinews-logo.svg/54px-Wikinews-logo.svg.png 2x" data-file-width="759" data-file-height="415" /></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a href="https://en.wikinews.org/wiki/Special:Search/Insurance" class="extiw" title="n:Special:Search/Insurance">News</a> from Wikinews</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/23px-Wikiquote-logo.svg.png" decoding="async" width="23" height="27" style="vertical-align: middle" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/35px-Wikiquote-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/46px-Wikiquote-logo.svg.png 2x" data-file-width="300" data-file-height="355" /></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a href="https://en.wikiquote.org/wiki/Insurance" class="extiw" title="q:Insurance">Quotations</a> from Wikiquote</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/26px-Wikisource-logo.svg.png" decoding="async" width="26" height="27" style="vertical-align: middle" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/39px-Wikisource-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Wikisource-logo.svg/51px-Wikisource-logo.svg.png 2x" data-file-width="410" data-file-height="430" /></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a href="https://en.wikisource.org/wiki/Special:Search/Insurance" class="extiw" title="s:Special:Search/Insurance">Texts</a> from Wikisource</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikibooks-logo.svg/27px-Wikibooks-logo.svg.png" decoding="async" width="27" height="27" style="vertical-align: middle" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikibooks-logo.svg/41px-Wikibooks-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikibooks-logo.svg/54px-Wikibooks-logo.svg.png 2x" data-file-width="300" data-file-height="300" /></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a href="https://en.wikibooks.org/wiki/Special:Search/Insurance" class="extiw" title="b:Special:Search/Insurance">Textbooks</a> from Wikibooks</span></li><li style="min-height:31px"><span style="display:inline-block;width:31px;line-height:31px;vertical-align:middle;text-align:center"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/27px-Wikiversity_logo_2017.svg.png" decoding="async" width="27" height="22" style="vertical-align: middle" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/41px-Wikiversity_logo_2017.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/54px-Wikiversity_logo_2017.svg.png 2x" data-file-width="626" data-file-height="512" /></span><span style="display:inline-block;margin-left:4px;width:182px;vertical-align:middle"><a href="https://en.wikiversity.org/wiki/Special:Search/Insurance" class="extiw" title="v:Special:Search/Insurance">Resources</a> from Wikiversity</span></li></ul></div>\n<ul><li><a rel="nofollow" class="external text" href="http://www.ncsl.org/research/health/congressional-research-service-reports-on-health.aspx">Congressional Research Service (CRS) Reports regarding the US Insurance industry</a></li>\n<li><a rel="nofollow" class="external text" href="http://www.ferma.eu/">Federation of European Risk Management Associations</a></li>\n<li><a rel="nofollow" class="external text" href="https://curlie.org/Home/Personal_Finance/Insurance">Insurance</a> at <a href="/wiki/Curlie" class="mw-redirect" title="Curlie">Curlie</a></li>\n<li><a rel="nofollow" class="external text" href="http://www.ibc.ca/">Insurance Bureau of Canada</a></li>\n<li><a rel="nofollow" class="external text" href="http://www.iii.org/">Insurance Information Institute</a></li>\n<li><a rel="nofollow" class="external text" href="http://www.naic.org/">National Association of Insurance Commissioners</a></li>\n<li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20060525173303/http://www.bl.uk/collections/business/insurind.html">The British Library</a> \xe2\x80\x93 finding information on the insurance industry (UK focus)</li></ul>\n<div style="clear:both;"></div>\n<div role="navigation" class="navbox" aria-labelledby="Insurance" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><style data-mw-deduplicate="TemplateStyles:r992953826">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}.mw-parser-output .infobox .navbar{font-size:100%}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Insurance" title="Template:Insurance"><abbr title="View this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Insurance" title="Template talk:Insurance"><abbr title="Discuss this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Template:Insurance&amp;action=edit"><abbr title="Edit this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">e</abbr></a></li></ul></div><div id="Insurance" style="font-size:114%;margin:0 4em"><a class="mw-selflink selflink">Insurance</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Types of insurance</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Health_insurance" title="Health insurance">Health</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Accidental_death_and_dismemberment_insurance" title="Accidental death and dismemberment insurance">Accidental death and dismemberment</a></li>\n<li><a href="/wiki/Dental_insurance" title="Dental insurance">Dental</a></li>\n<li><a href="/wiki/Disability_insurance" title="Disability insurance">Disability</a> (<a href="/wiki/Total_permanent_disability_insurance" title="Total permanent disability insurance">Total permanent disability</a>)</li>\n<li><a href="/wiki/Income_protection_insurance" title="Income protection insurance">Income protection</a></li>\n<li><a href="/wiki/Long-term_care_insurance" title="Long-term care insurance">Long-term care</a></li>\n<li><a href="/wiki/National_health_insurance" title="National health insurance">National health</a></li>\n<li><a href="/wiki/Payment_protection_insurance" title="Payment protection insurance">Payment protection</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Life_insurance" title="Life insurance">Life</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Longevity_insurance" title="Longevity insurance">Longevity insurance</a></li>\n<li><a href="/wiki/Mortgage_life_insurance" title="Mortgage life insurance">Mortgage life</a></li>\n<li><a href="/wiki/Term_life_insurance" title="Term life insurance">Term life</a></li>\n<li><a href="/wiki/Unitised_insurance_fund" title="Unitised insurance fund">Unitised fund</a></li>\n<li><a href="/wiki/Universal_life_insurance" title="Universal life insurance">Universal life</a></li>\n<li><a href="/wiki/Variable_universal_life_insurance" title="Variable universal life insurance">Variable universal life</a></li>\n<li><a href="/wiki/Whole_life_insurance" title="Whole life insurance">Whole life</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Business</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Bond_insurance" title="Bond insurance">Bond</a></li>\n<li><a href="/wiki/Business_owner%27s_policy" title="Business owner&#39;s policy">Business owner</a></li>\n<li><a href="/wiki/Directors_and_officers_liability_insurance" title="Directors and officers liability insurance">Directors and officers liability</a></li>\n<li><a href="/wiki/Fidelity_bond" title="Fidelity bond">Fidelity</a></li>\n<li><a href="/wiki/Professional_liability_insurance" title="Professional liability insurance">Professional liability</a></li>\n<li><a href="/wiki/Protection_and_indemnity_insurance" title="Protection and indemnity insurance">Protection and indemnity</a></li>\n<li><a href="/wiki/Trade_credit_insurance" title="Trade credit insurance">Trade credit</a></li>\n<li><a href="/wiki/Umbrella_insurance" title="Umbrella insurance">Umbrella</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Residential</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Contents_insurance" title="Contents insurance">Contents</a></li>\n<li><a href="/wiki/Earthquake_insurance" title="Earthquake insurance">Earthquake</a></li>\n<li><a href="/wiki/Flood_insurance" title="Flood insurance">Flood</a></li>\n<li><a href="/wiki/Home_insurance" title="Home insurance">Home</a></li>\n<li><a href="/wiki/Landlords%27_insurance" title="Landlords&#39; insurance">Landlords\'</a></li>\n<li><a href="/wiki/Lenders_mortgage_insurance" title="Lenders mortgage insurance">Lenders mortgage</a></li>\n<li><a href="/wiki/Mortgage_insurance" title="Mortgage insurance">Mortgage</a></li>\n<li><a href="/wiki/Property_insurance" title="Property insurance">Property</a></li>\n<li><a href="/wiki/Renters%27_insurance" title="Renters&#39; insurance">Renters\'</a></li>\n<li><a href="/wiki/Title_insurance" title="Title insurance">Title</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Transport/<br />Communication</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Aviation_insurance" title="Aviation insurance">Aviation</a></li>\n<li><a href="/wiki/Public_auto_insurance" title="Public auto insurance">Public auto</a></li>\n<li><a href="/wiki/Marine_insurance" title="Marine insurance">Marine</a></li>\n<li><a href="/wiki/Satellite_insurance" title="Satellite insurance">Satellite</a></li>\n<li><a href="/wiki/Shipping_insurance" title="Shipping insurance">Shipping</a></li>\n<li><a href="/wiki/Travel_insurance" title="Travel insurance">Travel</a></li>\n<li><a href="/wiki/Vehicle_insurance" title="Vehicle insurance">Vehicle</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a></li>\n<li><a href="/wiki/Casualty_insurance" title="Casualty insurance">Casualty</a></li>\n<li><a href="/wiki/Crime_insurance" class="mw-redirect" title="Crime insurance">Crime</a></li>\n<li><a href="/wiki/Crop_insurance" title="Crop insurance">Crop</a></li>\n<li><a href="/wiki/Extended_warranty" title="Extended warranty">Extended warranty</a></li>\n<li><a href="/wiki/Group_insurance" title="Group insurance">Group</a></li>\n<li><a href="/wiki/Index-based_insurance" title="Index-based insurance">Index-based</a></li>\n<li><a href="/wiki/Legal_expenses_insurance" title="Legal expenses insurance">Legal protection</a></li>\n<li><a href="/wiki/Liability_insurance" title="Liability insurance">Liability</a></li>\n<li><a href="/wiki/No-fault_insurance" title="No-fault insurance">No-fault</a></li>\n<li><a href="/wiki/Pet_insurance" title="Pet insurance">Pet</a></li>\n<li><a href="/wiki/Terrorism_insurance" title="Terrorism insurance">Terrorism</a></li>\n<li><a href="/wiki/War_risk_insurance" title="War risk insurance">War risk</a></li>\n<li><a href="/wiki/Weather_insurance" title="Weather insurance">Weather</a></li>\n<li><a href="/wiki/Workers%27_compensation" title="Workers&#39; compensation">Workers\' compensation</a></li>\n<li><a href="/wiki/Takaful" title="Takaful">Takaful</a></li>\n<li><a href="/w/index.php?title=Mining_insurance&amp;action=edit&amp;redlink=1" class="new" title="Mining insurance (page does not exist)">Mining</a></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Insurance policy and law</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Insurance_policy" title="Insurance policy">Insurance policy</a></li>\n<li><a href="/wiki/Act_of_God" title="Act of God">Act of God</a></li>\n<li><a href="/wiki/Cancellation_(insurance)" title="Cancellation (insurance)">Cancellation</a>\n<ul><li><i><a href="/wiki/Pro_rata" title="Pro rata">Pro rata</a></i></li>\n<li><a href="/wiki/Short_rate_table" title="Short rate table">Short rate table</a></li></ul></li>\n<li><a href="/wiki/Deductible" title="Deductible">Deductible</a>\n<ul><li><a href="/wiki/Co-insurance" title="Co-insurance">Co-insurance</a></li>\n<li><a href="/wiki/Copayment" title="Copayment">Copayment</a></li>\n<li><a href="/wiki/Out-of-pocket_expense" title="Out-of-pocket expense">Out-of-pocket expense</a></li></ul></li>\n<li><i><a href="/wiki/Force_majeure" title="Force majeure">Force majeure</a></i></li>\n<li><a href="/wiki/General_average" title="General average">General average</a></li>\n<li><a href="/wiki/Insurance_law" title="Insurance law">Insurance law</a></li>\n<li><a href="/wiki/Health_Insurance_Portability_and_Accountability_Act" title="Health Insurance Portability and Accountability Act">Health Insurance Portability and Accountability Act</a></li>\n<li><a href="/wiki/Insurance_fraud" title="Insurance fraud">Insurance fraud</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Insurance by country</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Insurance_in_Australia" title="Insurance in Australia">Australia</a></li>\n<li><a href="/wiki/Insurance_industry_in_China" title="Insurance industry in China">China</a></li>\n<li><a href="/wiki/Insurance_in_India" title="Insurance in India">India</a></li>\n<li><a href="/wiki/Insurance_in_Pakistan" title="Insurance in Pakistan">Pakistan</a></li>\n<li><a href="/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom">United Kingdom</a></li>\n<li><a href="/wiki/Insurance_in_the_United_States" title="Insurance in the United States">United States</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_insurance" title="History of insurance">History</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Banker_(ancient)" title="Banker (ancient)">Mesopotamian banker</a></li>\n<li><i><a href="/wiki/Code_of_Hammurabi" title="Code of Hammurabi">Codex Hammurabi</a></i>\n<ul><li><a href="/wiki/Marine_insurance" title="Marine insurance">\xc2\xa7100\xe2\x80\x93105; \xc2\xa7126</a>; <a href="/wiki/Labour_law" title="Labour law">\xc2\xa7234</a>; <a href="/wiki/Marine_insurance" title="Marine insurance">\xc2\xa7235\xe2\x80\x93238; \xc2\xa7240</a>; <a href="/wiki/Labour_law" title="Labour law">\xc2\xa7275\xe2\x80\x93277</a></li></ul></li>\n<li><i><a href="/wiki/Collegium_(ancient_Rome)" title="Collegium (ancient Rome)">Collegium</a></i>\n<ul><li><a href="/wiki/Burial_society" title="Burial society">Burial society</a></li>\n<li><a href="/wiki/Guild" title="Guild">Guild</a></li></ul></li>\n<li><i><a href="/wiki/Corpus_Juris_Civilis" title="Corpus Juris Civilis">Corpus Juris Civilis</a></i>\n<ul><li><i><a href="/wiki/Digest_(Roman_law)" title="Digest (Roman law)">Digesta</a></i></li></ul></li>\n<li><a href="/wiki/Benefit_society" title="Benefit society">Benefit</a>/<a href="/wiki/Friendly_society" title="Friendly society">Friendly society</a>\n<ul><li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li>\n<li><a href="/wiki/Cooperative_banking" title="Cooperative banking">Cooperative banking</a></li>\n<li><a href="/wiki/Credit_union" title="Credit union">Credit union</a></li>\n<li><a href="/wiki/Fraternal_order" title="Fraternal order">Fraternal order</a></li>\n<li><a href="/wiki/Mutual_organization" title="Mutual organization">Mutual organization</a></li>\n<li><a href="/wiki/Mutual_savings_bank" title="Mutual savings bank">Mutual savings bank</a></li>\n<li><a href="/wiki/Rochdale_Principles" title="Rochdale Principles">Rochdale Principles</a></li>\n<li><a href="/wiki/Savings_and_loan_association" title="Savings and loan association">Savings and loan association</a></li>\n<li><a href="/wiki/Social_insurance" title="Social insurance">Social insurance</a></li>\n<li><a href="/wiki/Trade_union" title="Trade union">Trade union</a></li></ul></li></ul>\n</div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div>\n<ul><li><b><a href="/wiki/Category:Insurance" title="Category:Insurance">Category</a></b></li>\n<li><b><a href="/wiki/Outline_of_finance#Insurance" title="Outline of finance">List of topics</a></b></li></ul>\n</div></td></tr></tbody></table></div>\n<div role="navigation" class="navbox" aria-labelledby="Major_insurance_and_reinsurance_companies" style="padding:3px"><table class="nowraplinks mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r992953826"/><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Major_insurance_companies" title="Template:Major insurance companies"><abbr title="View this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Major_insurance_companies" title="Template talk:Major insurance companies"><abbr title="Discuss this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Template:Major_insurance_companies&amp;action=edit"><abbr title="Edit this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">e</abbr></a></li></ul></div><div id="Major_insurance_and_reinsurance_companies" style="font-size:114%;margin:0 4em">Major <a class="mw-selflink selflink">insurance</a> and <a href="/wiki/Reinsurance" title="Reinsurance">reinsurance</a> companies</div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align: left;">Insurance</th><td class="navbox-list navbox-odd hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%;text-align: left;background-color: #eee;">Composite</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Aegon_N.V." title="Aegon N.V.">Aegon</a></li>\n<li><a href="/wiki/Ageas" title="Ageas">Ageas</a></li>\n<li><a href="/wiki/American_International_Group" title="American International Group">AIG</a></li>\n<li><a href="/wiki/Allianz" title="Allianz">Allianz</a></li>\n<li><a href="/wiki/Allstate" title="Allstate">Allstate</a></li>\n<li><a href="/wiki/Aon_(company)" title="Aon (company)">Aon</a></li>\n<li><a href="/wiki/Aviva" title="Aviva">Aviva</a></li>\n<li><a href="/wiki/Axa" title="Axa">Axa</a></li>\n<li><a href="/wiki/China_Pacific_Insurance_Company" title="China Pacific Insurance Company">China Pacific</a></li>\n<li><a href="/wiki/Assicurazioni_Generali" title="Assicurazioni Generali">Generali</a></li>\n<li><a href="/wiki/Farmers_Insurance_Group" title="Farmers Insurance Group">Farmers</a></li>\n<li><a href="/wiki/Japan_Post_Insurance" title="Japan Post Insurance">Japan Post</a></li>\n<li><a href="/wiki/NN_Group" title="NN Group">NN</a></li>\n<li><a href="/wiki/Ping_An_Insurance" title="Ping An Insurance">Ping An</a></li>\n<li><a href="/wiki/Prudential_plc" title="Prudential plc">Prudential</a></li>\n<li><a href="/wiki/Powszechny_Zak%C5%82ad_Ubezpiecze%C5%84" title="Powszechny Zak\xc5\x82ad Ubezpiecze\xc5\x84">PZU</a></li>\n<li><a href="/wiki/National_Mutual_Insurance_Federation_of_Agricultural_Cooperatives" title="National Mutual Insurance Federation of Agricultural Cooperatives">National Mutual Insurance Federation of Agricultural Cooperatives</a></li>\n<li><a href="/wiki/State_Farm" title="State Farm">State Farm</a></li>\n<li><a href="/wiki/The_Hartford" title="The Hartford">The Hartford</a></li>\n<li><a href="/wiki/Unipol" title="Unipol">Unipol</a>\n<ul><li><a href="/wiki/UnipolSai" title="UnipolSai">UnipolSai</a></li></ul></li>\n<li><a href="/wiki/USAA" title="USAA">USAA</a></li>\n<li><a href="/wiki/Vienna_Insurance_Group" title="Vienna Insurance Group">Vienna</a></li>\n<li><a href="/wiki/Zurich_Insurance_Group" title="Zurich Insurance Group">Zurich</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align: left;background-color: #eee;">General</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Axa_XL" title="Axa XL">Axa XL</a></li>\n<li><a href="/wiki/Berkshire_Hathaway" title="Berkshire Hathaway">Berkshire Hathaway</a></li>\n<li><a href="/wiki/BNP_Paribas" title="BNP Paribas">BNP Paribas</a></li>\n<li><a href="/wiki/Bradesco_Seguros" title="Bradesco Seguros">Bradesco Seguros</a></li>\n<li><a href="/wiki/Direct_Line_Group" title="Direct Line Group">Direct Line</a></li>\n<li><a href="/wiki/Hyundai_Marine_%26_Fire_Insurance" class="mw-redirect" title="Hyundai Marine &amp; Fire Insurance">Hyundai Marine &amp; Fire</a></li>\n<li><a href="/wiki/If_P%26C_Insurance" title="If P&amp;C Insurance">If P&amp;C</a></li>\n<li><a href="/wiki/Insurance_Australia_Group" title="Insurance Australia Group">Insurance Australia</a></li>\n<li><a href="/wiki/Liberty_Mutual" title="Liberty Mutual">Liberty Mutual</a></li>\n<li><a href="/wiki/Mapfre" title="Mapfre">Mapfre</a></li>\n<li><a href="/wiki/MS%26AD_Insurance_Group" title="MS&amp;AD Insurance Group">MS&amp;AD</a></li>\n<li><a href="/wiki/People%27s_Insurance_Company_of_China" title="People&#39;s Insurance Company of China">PICC</a>\n<ul><li><a href="/wiki/PICC_Property_and_Casualty" title="PICC Property and Casualty">P&amp;C</a></li></ul></li>\n<li><a href="/wiki/QBE_Insurance" title="QBE Insurance">QBE</a></li>\n<li><a href="/wiki/RSA_Insurance_Group" title="RSA Insurance Group">RSA</a></li>\n<li><a href="/wiki/Samsung_Fire_%26_Marine_Insurance" title="Samsung Fire &amp; Marine Insurance">Samsung Fire &amp; Marine</a></li>\n<li><a href="/wiki/Sompo_Japan_Nipponkoa_Insurance" title="Sompo Japan Nipponkoa Insurance">Sompo Japan Nipponkoa</a></li>\n<li><a href="/wiki/Tokio_Marine" title="Tokio Marine">Tokio Marine</a></li>\n<li><a href="/wiki/The_Travelers_Companies" title="The Travelers Companies">Travelers</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align: left;background-color: #eee;">Life</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/AIA_Group" title="AIA Group">AIA</a></li>\n<li><a href="/wiki/Aviva" title="Aviva">Aviva</a></li>\n<li><a href="/wiki/Bupa" title="Bupa">Bupa</a></li>\n<li><a href="/wiki/China_Life_Insurance_Company" title="China Life Insurance Company">China Life</a></li>\n<li><a href="/wiki/CNP_Assurances" title="CNP Assurances">CNP Assurances</a></li>\n<li><a href="/wiki/Dai-ichi_Life" title="Dai-ichi Life">Dai-ichi</a></li>\n<li><a href="/wiki/Great_Eastern_Life" title="Great Eastern Life">Great Eastern</a></li>\n<li><a href="/wiki/Jackson_National_Life" title="Jackson National Life">Jackson</a></li>\n<li><a href="/wiki/Knights_of_Columbus" title="Knights of Columbus">Knights of Columbus</a></li>\n<li><a href="/wiki/Legal_%26_General" title="Legal &amp; General">Legal &amp; General</a></li>\n<li><a href="/wiki/Life_Insurance_Corporation" title="Life Insurance Corporation">LIC</a></li>\n<li><a href="/wiki/Lincoln_National_Corporation" title="Lincoln National Corporation">Lincoln National</a></li>\n<li><a href="/wiki/Manulife" title="Manulife">Manulife</a></li>\n<li><a href="/wiki/Meiji_Yasuda_Life" title="Meiji Yasuda Life">Meiji Yasuda</a></li>\n<li><a href="/wiki/MetLife" title="MetLife">MetLife</a></li>\n<li><a href="/wiki/National_Life_Group" title="National Life Group">National Life</a></li>\n<li><a href="/wiki/New_China_Life_Insurance" title="New China Life Insurance">New China Life</a></li>\n<li><a href="/wiki/New_York_Life_Insurance_Company" title="New York Life Insurance Company">New York Life</a></li>\n<li><a href="/wiki/Nippon_Life" title="Nippon Life">Nippon Life</a></li>\n<li><a href="/wiki/Northwestern_Mutual" title="Northwestern Mutual">Northwestern Mutual</a></li>\n<li><a href="/wiki/Old_Mutual" title="Old Mutual">Old Mutual</a></li>\n<li><a href="/wiki/Phoenix_Group" title="Phoenix Group">Phoenix Group</a></li>\n<li><a href="/wiki/Prudential_Financial" title="Prudential Financial">Prudential Financial</a></li>\n<li><a href="/wiki/Samsung_Life_Insurance" title="Samsung Life Insurance">Samsung Life</a></li>\n<li><a href="/wiki/Scottish_Widows" title="Scottish Widows">Scottish Widows</a></li>\n<li><a href="/wiki/Standard_Life" title="Standard Life">Standard</a></li>\n<li><a href="/wiki/Sumitomo_Life" title="Sumitomo Life">Sumitomo</a></li>\n<li><a href="/wiki/Sun_Life_Financial" title="Sun Life Financial">Sun Life</a></li>\n<li><a href="/wiki/Swiss_Life" title="Swiss Life">Swiss Life</a></li>\n<li><a href="/wiki/Taikang_Life_Insurance" title="Taikang Life Insurance">Taikang</a></li>\n<li><a href="/wiki/SunLife" title="SunLife">SunLife</a></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;text-align: left;">Reinsurance</th><td class="navbox-list navbox-even hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/China_Re" title="China Re">China Re</a></li>\n<li><a href="/wiki/Gen_Re" title="Gen Re">Gen Re</a></li>\n<li><a href="/wiki/Hannover_Re" title="Hannover Re">Hannover Re</a></li>\n<li><a href="/wiki/Korean_Reinsurance_Company" title="Korean Reinsurance Company">Korean Reinsurance</a></li>\n<li><a href="/wiki/Lloyd%27s_of_London" title="Lloyd&#39;s of London">Lloyd\'s of London</a></li>\n<li><a href="/wiki/Munich_Re" title="Munich Re">Munich Re</a></li>\n<li><a href="/wiki/General_Insurance_Corporation_of_India" title="General Insurance Corporation of India">GIC</a></li>\n<li><a href="/wiki/Exor_(company)#PartnerRe" title="Exor (company)">PartnerRe</a></li>\n<li><a href="/wiki/Reinsurance_Group_of_America" title="Reinsurance Group of America">Reinsurance Group of America</a></li>\n<li><a href="/wiki/SCOR_SE" title="SCOR SE">SCOR</a></li>\n<li><a href="/wiki/Swiss_Re" title="Swiss Re">Swiss Re</a></li>\n<li><a href="/wiki/Axa_XL" title="Axa XL">Axa XL</a></li></ul>\n</div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div><small><i>Methodology: Applicable FY2013/14 revenues of over US$3 billion</i></small></div></td></tr></tbody></table></div>\n<div role="navigation" class="navbox" aria-labelledby="Major_industries" style="padding:3px"><table class="nowraplinks hlist mw-collapsible expanded navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r992953826"/><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Industries" title="Template:Industries"><abbr title="View this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Industries" title="Template talk:Industries"><abbr title="Discuss this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Template:Industries&amp;action=edit"><abbr title="Edit this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;;text-decoration:inherit;">e</abbr></a></li></ul></div><div id="Major_industries" style="font-size:114%;margin:0 4em">Major <a href="/wiki/Industry_(economics)" title="Industry (economics)">industries</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Natural_sector" style="font-size:114%;margin:0 4em"><a href="/wiki/Primary_sector_of_the_economy" title="Primary sector of the economy">Natural sector</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%">Biotic</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Agriculture" title="Agriculture">Agriculture</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Arable_farming" class="mw-redirect" title="Arable farming">Arable farming</a>\n<ul><li><a href="/wiki/Cereal#Production" title="Cereal">Cereals</a></li>\n<li><a href="/wiki/Legume#Uses" title="Legume">Legumes</a></li>\n<li><a href="/wiki/Vegetable_farming" title="Vegetable farming">Vegetables</a></li>\n<li><a href="/wiki/Fiber_crop" title="Fiber crop">Fiber crops</a></li>\n<li><a href="/wiki/Vegetable_oil" title="Vegetable oil">Oilseeds</a></li>\n<li><a href="/wiki/Sugar_industry" title="Sugar industry">Sugar</a></li>\n<li><a href="/wiki/Tobacco_industry" title="Tobacco industry">Tobacco</a></li></ul></li>\n<li><a href="/wiki/Permanent_crop" title="Permanent crop">Permanent crops</a>\n<ul><li><a href="/wiki/Pome" title="Pome">Apples et al.</a></li>\n<li><a href="/wiki/Berry#Commercial_production" title="Berry">Berries</a></li>\n<li><a href="/wiki/Citrus_production" title="Citrus production">Citrus</a></li>\n<li><a href="/wiki/Drupe" title="Drupe">Stone fruits</a></li>\n<li><a href="/wiki/List_of_culinary_fruits#Tropical_and_tropical-like_fruit" title="List of culinary fruits">Tropical fruit</a></li>\n<li><a href="/wiki/Viticulture" title="Viticulture">Viticulture</a></li>\n<li><a href="/wiki/Cocoa_bean#Cultivation" title="Cocoa bean">Cocoa</a></li>\n<li><a href="/wiki/Coffee_industry" class="mw-redirect" title="Coffee industry">Coffee</a></li>\n<li><a href="/wiki/Tea#Production" title="Tea">Tea</a></li>\n<li><a href="/wiki/Nut_(food)#Production" class="mw-redirect" title="Nut (food)">Nuts</a></li>\n<li><a href="/wiki/Olive" title="Olive">Olives</a></li>\n<li><a href="/wiki/Medicinal_plants" title="Medicinal plants">Medicinal plants</a></li>\n<li><a href="/wiki/Spice" title="Spice">Spices</a></li></ul></li>\n<li><a href="/wiki/Horticulture_industry" title="Horticulture industry">Horticulture</a>\n<ul><li><a href="/wiki/Floral_industry" title="Floral industry">Flowers</a></li>\n<li><a href="/wiki/Seed_company" title="Seed company">Seeds</a></li></ul></li>\n<li><a href="/wiki/Animal_husbandry" title="Animal husbandry">Animal husbandry</a>\n<ul><li><a href="/wiki/Beef_cattle" title="Beef cattle">Beef cattle</a></li>\n<li><a href="/wiki/Dairy_farming#Market" title="Dairy farming">Dairy farming</a></li>\n<li><a href="/wiki/Fur_farming" title="Fur farming">Fur farming</a></li>\n<li><a href="/wiki/Horse_industry" title="Horse industry">Horses</a></li>\n<li><a href="/wiki/Livestock" title="Livestock">Other livestock</a></li>\n<li><a href="/wiki/Pig_farming" title="Pig farming">Pig</a></li>\n<li><a href="/wiki/Wool#Production" title="Wool">Wool</a></li>\n<li><a href="/wiki/Poultry_farming" title="Poultry farming">Poultry</a></li>\n<li><a href="/wiki/Beekeeping" title="Beekeeping">Beekeeping</a></li>\n<li><a href="/wiki/Cochineal#Farming" title="Cochineal">Cochineal</a></li>\n<li><a href="/wiki/Lac" title="Lac">Lac</a></li>\n<li><a href="/wiki/Silk#Production_process" title="Silk">Silk</a></li></ul></li>\n<li><a href="/wiki/Hunting" title="Hunting">Hunting</a>\n<ul><li><a href="/wiki/Fur_trapping" class="mw-redirect" title="Fur trapping">Fur trapping</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Forestry" title="Forestry">Forestry</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Silviculture" title="Silviculture">Silviculture</a>\n<ul><li><a href="/wiki/Bamboo_cultivation" title="Bamboo cultivation">Bamboo</a></li></ul></li>\n<li><a href="/wiki/Logging" title="Logging">Logging</a>\n<ul><li><a href="/wiki/Firewood" title="Firewood">Firewood</a></li></ul></li>\n<li><a href="/wiki/Rattan#Economic_and_environmental_issues" title="Rattan">Rattan</a></li>\n<li><a href="/w/index.php?title=Tree_tapping&amp;action=edit&amp;redlink=1" class="new" title="Tree tapping (page does not exist)">Tree tapping</a>\n<ul><li><a href="/wiki/Frankincense#Production" title="Frankincense">Frankincense</a></li>\n<li><a href="/wiki/Gum_arabic#Production" title="Gum arabic">Gum arabic</a></li>\n<li><a href="/wiki/Gutta-percha#Uses" title="Gutta-percha">Gutta-percha</a></li>\n<li><a href="/wiki/Maple_syrup#Production" title="Maple syrup">Maple syrup</a></li>\n<li><a href="/wiki/Mastic_(plant_resin)#Cultivation" title="Mastic (plant resin)">Mastic</a></li>\n<li><a href="/wiki/Natural_rubber#Production" title="Natural rubber">Natural rubber</a></li>\n<li><a href="/wiki/Palm_sugar" title="Palm sugar">Palm sugar</a>, <a href="/wiki/Palm_syrup" title="Palm syrup">syrup</a>, &amp; <a href="/wiki/Palm_wine" title="Palm wine">wine</a></li>\n<li><a href="/wiki/Naval_stores_industry" title="Naval stores industry">Pine resin</a></li></ul></li>\n<li><a href="/wiki/Mushroom_hunting" title="Mushroom hunting">Wild mushrooms</a>\n<ul><li><a href="/wiki/Fungiculture" title="Fungiculture">Fungiculture</a></li>\n<li><a href="/wiki/Truffle" title="Truffle">Truffles</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Aquatic</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Fishing_industry" title="Fishing industry">Fishing</a>\n<ul><li><a href="/wiki/Anchovy#Fisheries" title="Anchovy">Anchovies</a></li>\n<li><a href="/wiki/Herring#Fisheries" title="Herring">Herring</a></li>\n<li><a href="/wiki/Sardine#Fisheries" title="Sardine">Sardines</a></li>\n<li><a href="/wiki/Cod_fisheries" title="Cod fisheries">Cod</a></li>\n<li><a href="/wiki/Haddock#Fisheries" title="Haddock">Haddock</a></li>\n<li><a href="/wiki/Alaska_pollock#Fisheries" title="Alaska pollock">Pollock</a></li>\n<li><a href="/wiki/Mackerel#Fisheries" title="Mackerel">Mackerel</a></li>\n<li><a href="/wiki/Shark#Fishery" title="Shark">Shark</a></li>\n<li><a href="/wiki/Swordfish#Fisheries" title="Swordfish">Swordfish</a></li>\n<li><a href="/wiki/Tuna#Fishing_industry" title="Tuna">Tuna</a></li>\n<li><a href="/wiki/Crab_fisheries" title="Crab fisheries">Crabs</a></li>\n<li><a href="/wiki/Lobster_fishing" title="Lobster fishing">Lobsters</a></li>\n<li><a href="/wiki/Sea_urchin#As_food" title="Sea urchin">Sea urchins</a></li>\n<li><a href="/wiki/Squid#Commercial_fishing" title="Squid">Squid</a></li>\n<li><a href="/wiki/Whaling" title="Whaling">Whaling</a></li></ul></li>\n<li><a href="/wiki/Aquaculture" title="Aquaculture">Aquaculture</a>\n<ul><li><a href="/wiki/Carp#Aquaculture" title="Carp">Carp</a></li>\n<li><a href="/wiki/Aquaculture_of_catfish" title="Aquaculture of catfish">Catfish</a></li>\n<li><a href="/wiki/Aquaculture_of_tilapia" title="Aquaculture of tilapia">Tilapia</a></li>\n<li><a href="/wiki/Abalone#Farming" title="Abalone">Abalone</a></li>\n<li><a href="/wiki/Mussel#Aquaculture" title="Mussel">Mussels</a></li>\n<li><a href="/wiki/Oyster_farming" title="Oyster farming">Oysters</a></li>\n<li><a href="/wiki/Cultured_pearl" title="Cultured pearl">Pearls</a></li>\n<li><a href="/wiki/Culture_of_microalgae_in_hatcheries" title="Culture of microalgae in hatcheries">Microalgae</a></li>\n<li><a href="/wiki/Seaweed_farming" title="Seaweed farming">Seaweed</a></li></ul></li>\n<li>Both\n<ul><li><a href="/wiki/Clam_digging" title="Clam digging">Clams</a></li>\n<li><a href="/wiki/Sea_cucumber_as_food" title="Sea cucumber as food">Sea cucumbers</a></li>\n<li><a href="/wiki/Scallop#Seafood_industry" title="Scallop">Scallops</a></li>\n<li><a href="/wiki/Salmon" title="Salmon">Salmon</a></li>\n<li><a href="/wiki/Shrimp#Human_uses" title="Shrimp">Shrimp</a></li></ul></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Geological</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Fossil_fuel_industry" class="mw-redirect" title="Fossil fuel industry">Fossil fuels</a>\n<ul><li><a href="/wiki/Coal_industry" class="mw-redirect" title="Coal industry">Coal</a></li>\n<li><a href="/wiki/Peat" title="Peat">Peat</a></li>\n<li><a href="/wiki/Natural_gas" title="Natural gas">Natural gas</a></li>\n<li><a href="/wiki/Oil_shale_industry" title="Oil shale industry">Oil shale</a></li>\n<li><a href="/wiki/Petroleum_industry" title="Petroleum industry">Petroleum</a></li>\n<li><a href="/wiki/Oil_sands" title="Oil sands">Tar sands</a></li></ul></li>\n<li><a href="/wiki/Mining" title="Mining">Mining</a> of <a href="/wiki/Ore" title="Ore">ores</a>\n<ul><li><a href="/wiki/Aluminium#Production_and_refinement" title="Aluminium">Aluminum</a></li>\n<li><a href="/wiki/Copper#Production" title="Copper">Copper</a></li>\n<li><a href="/wiki/Iron_ore#Production_and_consumption" title="Iron ore">Iron</a></li>\n<li><a href="/wiki/Gold_mining" title="Gold mining">Gold</a></li>\n<li><a href="/wiki/Silver_mining" title="Silver mining">Silver</a></li>\n<li><a href="/wiki/Palladium" title="Palladium">Palladium</a></li>\n<li><a href="/wiki/Platinum#Production" title="Platinum">Platinum</a></li>\n<li><a href="/wiki/Lithium#Production" title="Lithium">Lithium</a></li>\n<li><a href="/wiki/Rare-earth_element#Global_rare-earth_production" title="Rare-earth element">Rare-earth metals</a></li>\n<li><a href="/wiki/Uranium_mining" title="Uranium mining">Uranium</a></li></ul></li>\n<li>Other <a href="/wiki/Mineral" title="Mineral">minerals</a>\n<ul><li><a href="/wiki/Gemstone" title="Gemstone">Gemstones</a></li>\n<li><a href="/wiki/Phosphorus#Production" title="Phosphorus">Phosphorus</a></li>\n<li><a href="/wiki/Potash#Production" title="Potash">Potash</a></li>\n<li><a href="/wiki/Salt#Production" title="Salt">Salt</a></li>\n<li><a href="/wiki/Sulfur#Production" title="Sulfur">Sulfur</a></li></ul></li>\n<li><a href="/wiki/Quarry" title="Quarry">Quarrying</a>\n<ul><li><a href="/wiki/Gravel_pit" title="Gravel pit">Gravel</a></li>\n<li><a href="/wiki/Sand_mining" title="Sand mining">Sand</a></li>\n<li><a href="/wiki/Chalk_mining" title="Chalk mining">Chalk</a></li>\n<li><a href="/wiki/Clay_pit" title="Clay pit">Clay</a></li>\n<li><a href="/wiki/Gypsum#Mining" title="Gypsum">Gypsum</a></li>\n<li><a href="/wiki/Limestone#Uses" title="Limestone">Limestone</a></li>\n<li><a href="/wiki/Dimension_stone#Production" title="Dimension stone">Dimension stone</a></li>\n<li><a href="/wiki/Granite#Industry" title="Granite">Granite</a></li>\n<li><a href="/wiki/Marble#Production" title="Marble">Marble</a></li></ul></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Industrial_sector" style="font-size:114%;margin:0 4em"><a href="/wiki/Secondary_sector_of_the_economy" title="Secondary sector of the economy">Industrial sector</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Manufacturing" title="Manufacturing">Manufacturing</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Light_industry" title="Light industry">Light industry</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Food_industry" title="Food industry">Food</a>\n<ul><li><a href="/wiki/Feed_manufacturing" title="Feed manufacturing">Animal feed</a></li>\n<li><a href="/wiki/Baking#Commercial_baking" title="Baking">Baking</a></li>\n<li><a href="/wiki/Canning" title="Canning">Canning</a></li>\n<li><a href="/wiki/Dairy_product" title="Dairy product">Dairy products</a></li>\n<li><a href="/wiki/Flour" title="Flour">Flour</a></li>\n<li><a href="/wiki/Meat_industry" title="Meat industry">Meat</a></li>\n<li><a href="/wiki/Convenience_food" title="Convenience food">Prepared</a></li>\n<li><a href="/wiki/Food_preservation" title="Food preservation">Preserved</a></li>\n<li><a href="/wiki/Candy_making" title="Candy making">Sweets</a></li>\n<li><a href="/wiki/Vegetable_oil#Production" title="Vegetable oil">Vegetable oils</a></li></ul></li>\n<li><a href="/wiki/Drink_industry" title="Drink industry">Beverages</a>\n<ul><li><a href="/wiki/Brewing_industry" class="mw-redirect" title="Brewing industry">Beer</a></li>\n<li><a href="/wiki/Bottled_water" title="Bottled water">Bottled water</a></li>\n<li><a href="/wiki/Liquor" title="Liquor">Liquor</a></li>\n<li><a href="/wiki/Soft_drink" title="Soft drink">Soft drinks</a></li>\n<li><a href="/wiki/Winemaking" title="Winemaking">Wine</a></li></ul></li>\n<li><a href="/wiki/Textile_industry" title="Textile industry">Textiles</a>\n<ul><li><a href="/wiki/Carding" title="Carding">Carding</a></li>\n<li><a href="/wiki/Dyeing" title="Dyeing">Dyeing</a></li>\n<li><a href="/wiki/Textile_printing" title="Textile printing">Prints</a></li>\n<li><a href="/wiki/Spinning_(textiles)" title="Spinning (textiles)">Spinning</a></li>\n<li><a href="/wiki/Weaving" title="Weaving">Weaving</a></li>\n<li><a href="/wiki/Carpet" title="Carpet">Carpets</a></li>\n<li><a href="/wiki/Lace" title="Lace">Lace</a></li>\n<li><a href="/wiki/Linens" title="Linens">Linens</a></li>\n<li><a href="/wiki/Rope" title="Rope">Rope</a></li></ul></li>\n<li><a href="/wiki/Clothing_industry" title="Clothing industry">Clothing</a>\n<ul><li><a href="/wiki/Fashion_accessory" title="Fashion accessory">Accessories</a></li>\n<li><a href="/wiki/Dressmaker" title="Dressmaker">Dressmaking</a></li>\n<li><a href="/wiki/Fur_clothing" title="Fur clothing">Furs</a></li>\n<li><a href="/wiki/Hatmaking" title="Hatmaking">Hatmaking</a></li>\n<li><a href="/wiki/Sewing" title="Sewing">Sewing</a></li>\n<li><a href="/wiki/Shoemaking" title="Shoemaking">Shoemaking</a></li>\n<li><a href="/wiki/Tailor" title="Tailor">Tailoring</a></li></ul></li>\n<li><a href="/wiki/Printing" title="Printing">Printing</a>\n<ul><li><a href="/wiki/Bookbinding" title="Bookbinding">Bookbinding</a></li>\n<li><a href="/wiki/Paper_embossing" title="Paper embossing">Embossing</a></li>\n<li><a href="/wiki/Engraving" title="Engraving">Engraving</a></li>\n<li><a href="/wiki/Security_printing" title="Security printing">Secure</a></li>\n<li><a href="/wiki/Typesetting" title="Typesetting">Typesetting</a></li></ul></li>\n<li>Media reproduction\n<ul><li><a href="/wiki/Cassette_tape" title="Cassette tape">Cassette tapes</a></li>\n<li><a href="/wiki/Production_of_phonograph_records" title="Production of phonograph records">Phonographs</a></li>\n<li><a href="/wiki/Compact_Disc_manufacturing" title="Compact Disc manufacturing">Optical discs</a></li></ul></li>\n<li><a href="/wiki/Metal_fabrication" title="Metal fabrication">Metal fabrication</a>\n<ul><li><a href="/wiki/Boilermaking" class="mw-redirect" title="Boilermaking">Boilermaking</a></li>\n<li><a href="/wiki/Builders_hardware" title="Builders hardware">Builders\'</a> &amp; <a href="/wiki/Household_hardware" title="Household hardware">household hardware</a></li>\n<li><a href="/wiki/Cutlery" title="Cutlery">Cutlery</a></li>\n<li><a href="/wiki/Gunsmith" title="Gunsmith">Gunsmithing</a></li>\n<li><a href="/wiki/Locksmithing" title="Locksmithing">Locksmithing</a></li>\n<li><a href="/wiki/Machine_shop" title="Machine shop">Machining</a></li>\n<li>Other <a href="/wiki/Metalsmith" title="Metalsmith">smithing</a></li>\n<li><a href="/wiki/Powder_metallurgy" title="Powder metallurgy">Powder metallurgy</a></li>\n<li><a href="/wiki/Prefabrication" title="Prefabrication">Prefabrication</a></li>\n<li><a href="/wiki/Surface_finishing" title="Surface finishing">Surface finishing</a></li></ul></li>\n<li>Other fabrication\n<ul><li><a href="/wiki/3D_printing" title="3D printing">3D printing</a></li>\n<li><a href="/wiki/Blow_molding" title="Blow molding">Blow molding</a></li>\n<li><a href="/wiki/Drawing_(manufacturing)" title="Drawing (manufacturing)">Drawing</a></li>\n<li><a href="/wiki/Extrusion" title="Extrusion">Extrusion</a></li>\n<li><a href="/wiki/Glassblowing" title="Glassblowing">Glassblowing</a></li>\n<li><a href="/wiki/Injection_moulding" title="Injection moulding">Injection moulding</a></li>\n<li><a href="/wiki/Pottery" title="Pottery">Pottery</a></li>\n<li><a href="/wiki/Sintering" title="Sintering">Sintering</a></li>\n<li><a href="/wiki/Stonemasonry" title="Stonemasonry">Stonemasonry</a></li>\n<li><a href="/wiki/Woodworking" title="Woodworking">Woodworking</a></li></ul></li>\n<li><a href="/wiki/Furniture" title="Furniture">Furniture</a></li>\n<li>Other goods\n<ul><li><a href="/wiki/Baggage" title="Baggage">Baggage</a></li>\n<li><a href="/wiki/Bicycle_industry" title="Bicycle industry">Bicycles</a></li>\n<li><a href="/wiki/Jewellery" title="Jewellery">Jewellery</a></li>\n<li><a href="/wiki/Medical_device" title="Medical device">Medical supplies</a></li>\n<li><a href="/wiki/Musical_instrument" title="Musical instrument">Musical instruments</a></li>\n<li><a href="/wiki/Office_supplies" title="Office supplies">Office supplies</a></li>\n<li>Outdoors &amp; <a href="/wiki/Sports_equipment" title="Sports equipment">sports equipment</a></li>\n<li><a href="/wiki/Personal_protective_equipment" title="Personal protective equipment">Personal protective equipment</a></li>\n<li><a href="/wiki/Toy#Economics" title="Toy">Toys</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Electrical <br /> &amp; optical</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Electronics_industry" title="Electronics industry">Electronics</a>\n<ul><li><a href="/wiki/Electronic_component" title="Electronic component">Components</a></li>\n<li><a href="/wiki/Printed_circuit_board#Manufacturing" title="Printed circuit board">Circuit boards</a></li>\n<li><a href="/wiki/Semiconductor_industry" title="Semiconductor industry">Semiconductors</a></li></ul></li>\n<li><a href="/wiki/Computer_industry" class="mw-redirect" title="Computer industry">Computers</a>\n<ul><li><a href="/wiki/List_of_computer_system_manufacturers" title="List of computer system manufacturers">Computer systems</a></li>\n<li><a href="/wiki/List_of_computer_hardware_manufacturers" title="List of computer hardware manufacturers">Parts &amp; peripherals</a></li>\n<li>Blank <a href="/wiki/Computer_data_storage#Storage_media" title="Computer data storage">storage media</a></li></ul></li>\n<li><a href="/wiki/Telecommunications_equipment" title="Telecommunications equipment">Communications equipment</a>\n<ul><li><a href="/wiki/Mobile_phone#Sales" title="Mobile phone">Mobile phones</a></li>\n<li><a href="/wiki/Network_equipment_provider" title="Network equipment provider">Network infrastructure</a></li></ul></li>\n<li><a href="/wiki/Consumer_electronics#Products" title="Consumer electronics">Consumer electronics</a>\n<ul><li><a href="/wiki/Television_set#Major_manufacturers" title="Television set">Televisions</a></li>\n<li><a href="/wiki/Video_game_console#Market" title="Video game console">Video game consoles</a></li></ul></li>\n<li><a href="/wiki/Instrumentation" title="Instrumentation">Instrumentation</a>\n<ul><li><a href="/wiki/Clockmaker" title="Clockmaker">Clocks</a> &amp; <a href="/wiki/Watchmaker" title="Watchmaker">watches</a></li>\n<li><a href="/wiki/Satellite_navigation_device#Consumer_applications" title="Satellite navigation device">GPS devices</a></li>\n<li><a href="/wiki/Scientific_instrument#List_of_scientific_instruments_manufacturers" title="Scientific instrument">Scientific instruments</a></li></ul></li>\n<li><a href="/wiki/Medical_imaging#Industry" title="Medical imaging">Medical imaging systems</a></li>\n<li><a href="/wiki/Optical_instrument" title="Optical instrument">Optical instruments</a>\n<ul><li><a href="/wiki/Camera" title="Camera">Cameras</a></li>\n<li><a href="/wiki/Telescopic_sight" title="Telescopic sight">Gun</a> &amp; <a href="/wiki/Spotting_scope" title="Spotting scope">spotting scopes</a></li>\n<li><a href="/wiki/Laser_construction" title="Laser construction">Laser construction</a></li>\n<li><a href="/wiki/Fabrication_and_testing_of_optical_components" class="mw-redirect" title="Fabrication and testing of optical components">Lens grinding</a></li>\n<li><a href="/wiki/Microscope" title="Microscope">Microscopes</a></li>\n<li><a href="/wiki/Telescope" title="Telescope">Telescopes</a></li></ul></li>\n<li><a href="/wiki/Electrical_equipment" title="Electrical equipment">Electrical equipment</a>\n<ul><li><a href="/wiki/Battery_industry" class="mw-redirect" title="Battery industry">Batteries</a></li>\n<li><a href="/wiki/Electrical_cable" title="Electrical cable">Electrical</a> &amp; <a href="/wiki/Optical_fiber" title="Optical fiber">fiber optic</a> cables</li>\n<li><a href="/wiki/Electric_light" title="Electric light">Electric lighting</a></li>\n<li><a href="/wiki/Electric_motor" title="Electric motor">Electric motors</a></li>\n<li><a href="/wiki/Home_appliance" title="Home appliance">Home appliances</a></li>\n<li><a href="/wiki/Transformer" title="Transformer">Transformers</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Chemical_industry" title="Chemical industry">Chemicals</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li>Coal &amp; <a href="/wiki/Oil_refinery" title="Oil refinery">oil refining</a>\n<ul><li><a href="/wiki/Coke_(fuel)" title="Coke (fuel)">Coke</a></li>\n<li><a href="/wiki/Diesel_fuel" title="Diesel fuel">Diesel fuel</a></li>\n<li><a href="/wiki/Fuel_oil" title="Fuel oil">Fuel oil</a></li>\n<li><a href="/wiki/Gasoline" title="Gasoline">Gasoline</a></li>\n<li><a href="/wiki/Jet_fuel" title="Jet fuel">Jet fuel</a></li>\n<li><a href="/wiki/Kerosene" title="Kerosene">Kerosene</a></li>\n<li><a href="/wiki/Propane" title="Propane">Propane</a></li>\n<li><a href="/wiki/Mineral_oil" title="Mineral oil">Mineral oil</a></li>\n<li><a href="/wiki/Paraffin_wax" title="Paraffin wax">Paraffin wax</a></li>\n<li><a href="/wiki/Petrochemical" title="Petrochemical">Petrochemicals</a></li>\n<li><a href="/wiki/Petroleum_jelly" title="Petroleum jelly">Petroleum jelly</a></li>\n<li><a href="/wiki/Synthetic_oil" title="Synthetic oil">Synthetic oil</a></li>\n<li><a href="/wiki/Asphalt" title="Asphalt">Asphalt</a></li>\n<li><a href="/wiki/Tar" title="Tar">Tar</a></li></ul></li>\n<li><a href="/wiki/Commodity_chemicals" title="Commodity chemicals">Commodity chemicals</a>\n<ul><li><a href="/wiki/Fertilizer#Production" title="Fertilizer">Fertilizers</a></li>\n<li><a href="/wiki/Industrial_gas" title="Industrial gas">Industrial gases</a></li>\n<li><a href="/wiki/Pigment" title="Pigment">Pigments</a></li>\n<li><a href="/wiki/Pure_element" class="mw-redirect" title="Pure element">Pure elements</a></li></ul></li>\n<li><a href="/wiki/Speciality_chemicals" title="Speciality chemicals">Speciality chemicals</a>\n<ul><li><a href="/wiki/Adhesive" title="Adhesive">Adhesives</a></li>\n<li><a href="/wiki/Agrochemical" title="Agrochemical">Agrochemicals</a></li>\n<li><a href="/wiki/Aroma_compound" title="Aroma compound">Aroma compounds</a></li>\n<li><a href="/wiki/Cleaning_product" class="mw-redirect" title="Cleaning product">Cleaning products</a></li>\n<li><a href="/wiki/Cosmetics" title="Cosmetics">Cosmetics</a></li>\n<li><a href="/wiki/Explosive" title="Explosive">Explosives</a></li>\n<li><a href="/wiki/Fireworks" title="Fireworks">Fireworks</a></li>\n<li><a href="/wiki/Paint" title="Paint">Paints</a> &amp; <a href="/wiki/Ink" title="Ink">inks</a></li>\n<li><a href="/wiki/Perfume" title="Perfume">Perfumes</a></li>\n<li><a href="/wiki/Soap" title="Soap">Soap</a></li>\n<li><a href="/wiki/Toiletries" class="mw-redirect" title="Toiletries">Toiletries</a></li></ul></li>\n<li><a href="/wiki/Fine_chemical" title="Fine chemical">Fine chemicals</a></li>\n<li><a href="/wiki/Pharmaceutical_industry" title="Pharmaceutical industry">Pharmaceuticals</a>\n<ul><li><a href="/wiki/Production_of_antibiotics" title="Production of antibiotics">Antibiotics</a></li>\n<li><a href="/wiki/Blood_product" title="Blood product">Blood products</a></li>\n<li>Chemical &amp; hormonal <a href="/wiki/Birth_control" title="Birth control">contraceptives</a></li>\n<li><a href="/wiki/Generic_drug" title="Generic drug">Generic drugs</a></li>\n<li><a href="/wiki/Illegal_drug_trade" title="Illegal drug trade">Illegal drugs</a></li>\n<li><a href="/wiki/Dietary_supplement" title="Dietary supplement">Supplements</a></li>\n<li><a href="/wiki/Vaccine" title="Vaccine">Vaccines</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Materials</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Leather" title="Leather">Leather</a>\n<ul><li><a href="/wiki/Liming_(leather_processing)" title="Liming (leather processing)">Liming</a> &amp; <a href="/wiki/Deliming" title="Deliming">deliming</a></li>\n<li><a href="/wiki/Tanning_(leather)" title="Tanning (leather)">Tanning</a></li>\n<li><a href="/wiki/Currier" title="Currier">Currying</a> &amp; <a href="/wiki/Oiling_(leather_processing)" title="Oiling (leather processing)">oiling</a></li></ul></li>\n<li><a href="/wiki/Wood_industry" title="Wood industry">Wood</a>\n<ul><li><a href="/wiki/Wood_drying" title="Wood drying">Drying</a></li>\n<li><a href="/wiki/Sawmill" title="Sawmill">Sawmilling</a></li>\n<li><a href="/wiki/Engineered_wood" title="Engineered wood">Engineered</a></li>\n<li><a href="/wiki/Lumber" title="Lumber">Lumber</a></li>\n<li><a href="/wiki/Wood-plastic_composite" title="Wood-plastic composite">Composite</a></li></ul></li>\n<li><a href="/wiki/Pulp_and_paper_industry" title="Pulp and paper industry">Paper</a>\n<ul><li><a href="/wiki/Sizing#Papermaking" title="Sizing">Sizing</a></li>\n<li><a href="/wiki/Cardboard" title="Cardboard">Cardboard</a></li>\n<li><a href="/wiki/Pulp_(paper)" title="Pulp (paper)">Pulp</a></li>\n<li><a href="/wiki/Tissue_paper" title="Tissue paper">Tissue</a></li></ul></li>\n<li><a href="/wiki/Synthetic_rubber" title="Synthetic rubber">Rubber</a>\n<ul><li><a href="/wiki/Tire_manufacturing" title="Tire manufacturing">Tires</a></li>\n<li><a href="/wiki/Vulcanization" title="Vulcanization">Vulcanized rubber</a></li></ul></li>\n<li><a href="/wiki/Plastics_industry" title="Plastics industry">Plastics</a>\n<ul><li><a href="/wiki/Commodity_plastics" title="Commodity plastics">Commodity</a></li>\n<li><a href="/wiki/Engineering_plastic" title="Engineering plastic">Engineered</a></li>\n<li><a href="/wiki/High-performance_plastics" title="High-performance plastics">Specialty</a></li>\n<li><a href="/wiki/Pelletizing" title="Pelletizing">Pellets</a></li>\n<li><a href="/wiki/Synthetic_fiber" title="Synthetic fiber">Synthetic fibers</a></li>\n<li><a href="/wiki/Thermoplastic" title="Thermoplastic">Thermoplastics</a> &amp; <a href="/wiki/Thermosetting_polymer" title="Thermosetting polymer">thermosets</a></li></ul></li>\n<li><a href="/wiki/Glass_production" title="Glass production">Glass</a>\n<ul><li><a href="/wiki/Borosilicate_glass" title="Borosilicate glass">Borosilicate</a></li>\n<li><a href="/wiki/Fused_quartz" title="Fused quartz">Fused quartz</a></li>\n<li><a href="/wiki/Soda%E2%80%93lime_glass" title="Soda\xe2\x80\x93lime glass">Soda-lime</a></li>\n<li><a href="/wiki/Float_glass" title="Float glass">Float glass</a></li>\n<li><a href="/wiki/Glass_fiber" title="Glass fiber">Glass fiber</a></li>\n<li><a href="/wiki/Glass_wool" title="Glass wool">Glass wool</a> &amp; <a href="/wiki/Fiberglass" title="Fiberglass">fiberglass</a></li>\n<li><a href="/wiki/Safety_glass" title="Safety glass">Safety glass</a></li></ul></li>\n<li><a href="/wiki/Ceramic" title="Ceramic">Ceramics</a>\n<ul><li><a href="/wiki/Brickworks" title="Brickworks">Brick</a></li>\n<li><a href="/wiki/Earthenware" title="Earthenware">Earthenware</a></li>\n<li><a href="/wiki/Porcelain#Other_uses" title="Porcelain">Porcelain</a></li>\n<li><a href="/wiki/Refractory" title="Refractory">Refractory</a></li>\n<li><a href="/wiki/Tile" title="Tile">Tile</a></li></ul></li>\n<li><a href="/wiki/Cement_industry" class="mw-redirect" title="Cement industry">Cement</a>\n<ul><li><a href="/wiki/Mortar_(masonry)" title="Mortar (masonry)">Mortar</a></li>\n<li><a href="/wiki/Plaster" title="Plaster">Plaster</a></li>\n<li><a href="/wiki/Ready-mix_concrete" title="Ready-mix concrete">Ready-mix concrete</a></li></ul></li>\n<li>Other mineral\n<ul><li><a href="/wiki/Abrasive" title="Abrasive">Abrasives</a></li>\n<li><a href="/wiki/Carbon_fibers" title="Carbon fibers">Carbon fibers</a> &amp; <a href="/wiki/Allotropes_of_carbon" title="Allotropes of carbon">advanced materials</a></li>\n<li><a href="/wiki/Mineral_wool" title="Mineral wool">Mineral wool</a></li>\n<li><a href="/wiki/Synthetic_gem" class="mw-redirect" title="Synthetic gem">Synthetic gems</a></li></ul></li>\n<li><a href="/wiki/Extractive_metallurgy" title="Extractive metallurgy">Metal refining</a>\n<ul><li><a href="/wiki/Ironworks" title="Ironworks">Iron</a></li>\n<li><a href="/wiki/Aluminium_smelting" title="Aluminium smelting">Aluminum</a></li>\n<li><a href="/wiki/Copper_extraction" title="Copper extraction">Copper</a></li></ul></li>\n<li><a href="/wiki/Alloy" title="Alloy">Alloys</a>\n<ul><li><a href="/wiki/Steel_mill" title="Steel mill">Steel</a></li></ul></li>\n<li><a href="/wiki/Forming_(metalworking)" title="Forming (metalworking)">Formed metal</a>\n<ul><li><a href="/wiki/Rolling_(metalworking)" title="Rolling (metalworking)">Rolled</a></li>\n<li><a href="/wiki/Forging" title="Forging">Forged</a></li></ul></li>\n<li><a href="/wiki/Foundry" title="Foundry">Cast metal</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Heavy_industry" title="Heavy industry">Heavy industry</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Machine_industry" title="Machine industry">Machinery</a>\n<ul><li><a href="/wiki/Conveyor_system" title="Conveyor system">Conveyors</a></li>\n<li><a href="/wiki/Heavy_equipment" title="Heavy equipment">Heavy</a></li>\n<li><a href="/wiki/Hydraulic_machinery" title="Hydraulic machinery">Hydraulic</a></li>\n<li><a href="/wiki/Machine_tool_builder" title="Machine tool builder">Machine tools</a></li>\n<li><a href="/wiki/Turbo_generator" title="Turbo generator">Power</a> &amp; <a href="/wiki/Wind_turbine" title="Wind turbine">wind turbines</a></li></ul></li>\n<li><a href="/wiki/Automotive_industry" title="Automotive industry">Automobiles</a></li>\n<li>Other heavy <a href="/wiki/Vehicle" title="Vehicle">vehicles</a>\n<ul><li><a href="/wiki/Aerospace_industry" class="mw-redirect" title="Aerospace industry">Aerospace</a> &amp; <a href="/wiki/Space_industry" title="Space industry">space</a></li>\n<li><a href="/wiki/Rolling_stock" title="Rolling stock">Rail vehicles</a></li>\n<li><a href="/wiki/Shipbuilding" title="Shipbuilding">Ships</a> &amp; <a href="/wiki/Oil_platform" title="Oil platform">offshore platforms</a></li></ul></li>\n<li><a href="/wiki/Arms_industry" title="Arms industry">Weapons</a></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Public_utility" title="Public utility">Utilities</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li>Power\n<ul><li><a href="/wiki/Electric_power_industry" title="Electric power industry">Electric</a></li>\n<li><a href="/wiki/Natural_gas#Domestic_use" title="Natural gas">Gas distribution</a></li>\n<li><a href="/wiki/Renewable_energy_commercialization" title="Renewable energy commercialization">Renewable</a></li></ul></li>\n<li><a href="/wiki/Water_industry" title="Water industry">Water</a>\n<ul><li><a href="/wiki/Sewage_treatment" title="Sewage treatment">Sewage</a></li></ul></li>\n<li><a href="/wiki/Waste_management_industry" title="Waste management industry">Waste management</a>\n<ul><li><a href="/wiki/Waste_collection" title="Waste collection">Collection</a></li>\n<li><a href="/wiki/Landfill" title="Landfill">Dumping</a></li>\n<li><a href="/wiki/Hazardous_waste" title="Hazardous waste">Hazardous</a></li>\n<li><a href="/wiki/Recycling" title="Recycling">Recycling</a></li></ul></li>\n<li><a href="/wiki/Environmental_remediation" title="Environmental remediation">Remediation</a></li>\n<li><a href="/wiki/Telecommunications_industry" title="Telecommunications industry">Telecom networks</a>\n<ul><li><a href="/wiki/Cable_television" title="Cable television">Cable TV</a></li>\n<li><a href="/wiki/Internet_service_provider" title="Internet service provider">Internet</a></li>\n<li><a href="/wiki/Mobile_phone_operator" title="Mobile phone operator">Mobile</a></li>\n<li><a href="/wiki/Communications_satellite" title="Communications satellite">Satellite</a></li>\n<li><a href="/wiki/Telephone_company" title="Telephone company">Telephone</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Construction" title="Construction">Construction</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Building" title="Building">Buildings</a>\n<ul><li><a href="/wiki/Commercial_property" title="Commercial property">Commercial</a></li>\n<li><a href="/wiki/Industrial_architecture" title="Industrial architecture">Industrial</a></li>\n<li><a href="/wiki/Home_construction" title="Home construction">Residential</a></li></ul></li>\n<li><a href="/wiki/Civil_engineering" title="Civil engineering">Civil engineering</a>\n<ul><li><a href="/wiki/Bridge_building" class="mw-redirect" title="Bridge building">Bridges</a></li>\n<li><a href="/wiki/Track_(rail_transport)" title="Track (rail transport)">Railways</a></li>\n<li><a href="/wiki/Roadbuilding" class="mw-redirect" title="Roadbuilding">Roads</a></li>\n<li><a href="/wiki/Tunnel#Construction" title="Tunnel">Tunnels</a></li>\n<li><a href="/wiki/Canal#Construction" title="Canal">Canals</a></li>\n<li><a href="/wiki/Dam" title="Dam">Dams</a></li>\n<li><a href="/wiki/Dredging#Major_dredging_companies" title="Dredging">Dredging</a></li>\n<li><a href="/wiki/Harbor" title="Harbor">Harbors</a></li></ul></li>\n<li>Specialty trades\n<ul><li><a href="/wiki/Cabinetry" title="Cabinetry">Cabinetry</a></li>\n<li><a href="/wiki/Demolition" title="Demolition">Demolition</a></li>\n<li><a href="/wiki/Electrical_wiring" title="Electrical wiring">Electrical wiring</a></li>\n<li><a href="/wiki/Elevator_mechanic" title="Elevator mechanic">Elevators</a></li>\n<li><a href="/wiki/Heating,_ventilation,_and_air_conditioning#HVAC_industry_and_standards" title="Heating, ventilation, and air conditioning">HVAC</a></li>\n<li><a href="/wiki/House_painter_and_decorator" title="House painter and decorator">Painting and decorating</a></li>\n<li><a href="/wiki/Plumbing" title="Plumbing">Plumbing</a></li>\n<li><a href="/wiki/Earthworks_(engineering)" title="Earthworks (engineering)">Site preparation</a></li></ul></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Service_sector" style="font-size:114%;margin:0 4em"><a href="/wiki/Tertiary_sector_of_the_economy" title="Tertiary sector of the economy">Service sector</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Sales" title="Sales">Sales</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Retail" title="Retail">Retail</a>\n<ul><li><a href="/wiki/Car_dealership" title="Car dealership">Car dealership</a></li>\n<li><a href="/wiki/Fast-moving_consumer_goods" title="Fast-moving consumer goods">Consumer goods</a></li>\n<li><a href="/wiki/General_store" title="General store">General store</a></li>\n<li><a href="/wiki/Grocery_store" title="Grocery store">Grocery store</a></li>\n<li><a href="/wiki/Department_store" title="Department store">Department store</a></li>\n<li><a href="/wiki/Mail_order" title="Mail order">Mail order</a></li>\n<li><a href="/wiki/Online_shopping" title="Online shopping">Online shopping</a></li>\n<li><a href="/wiki/Specialty_store" title="Specialty store">Specialty store</a></li></ul></li>\n<li><a href="/wiki/Wholesaling" title="Wholesaling">Wholesale</a>\n<ul><li><a href="/wiki/Auction" title="Auction">Auction</a></li>\n<li><a href="/wiki/Broker" title="Broker">Brokerage</a></li>\n<li><a href="/wiki/Distribution_(marketing)" title="Distribution (marketing)">Distribution</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Transport" title="Transport">Transport</a> <br /> &amp; Storage</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Cargo" title="Cargo">Cargo</a>\n<ul><li><a href="/wiki/Air_cargo" title="Air cargo">Air cargo</a></li>\n<li><a href="/wiki/Intermodal_freight_transport" title="Intermodal freight transport">Intermodal</a></li>\n<li><a href="/wiki/Mail" title="Mail">Mail</a></li>\n<li><a href="/wiki/Moving_company" title="Moving company">Moving company</a></li>\n<li><a href="/wiki/Rail_freight_transport" title="Rail freight transport">Rail</a></li>\n<li><a href="/wiki/Trucking" class="mw-redirect" title="Trucking">Trucking</a></li></ul></li>\n<li><a href="/wiki/Passenger_transport" class="mw-redirect" title="Passenger transport">Passenger transport</a>\n<ul><li><a href="/wiki/Airline" title="Airline">Airlines</a></li>\n<li><a href="/wiki/Car_rental" title="Car rental">Car rentals</a></li>\n<li><a href="/wiki/Passenger_rail" class="mw-redirect" title="Passenger rail">Passenger rail</a></li>\n<li><a href="/wiki/Ridesharing_company" title="Ridesharing company">Ridesharing</a></li>\n<li><a href="/wiki/Taxicab" class="mw-redirect" title="Taxicab">Taxicabs</a></li></ul></li>\n<li><a href="/wiki/Warehouse" title="Warehouse">Warehousing</a>\n<ul><li><a href="/wiki/Self_storage" title="Self storage">Self storage</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Hospitality_industry" title="Hospitality industry">Hospitality</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Foodservice" title="Foodservice">Foodservice</a>\n<ul><li><a href="/wiki/Drinking_establishment" title="Drinking establishment">Drink service</a></li>\n<li><a href="/wiki/Catering" title="Catering">Catering</a></li>\n<li><a href="/wiki/Caf%C3%A9" class="mw-redirect" title="Caf\xc3\xa9">Caf\xc3\xa9s</a></li>\n<li><a href="/wiki/Fast_food" title="Fast food">Fast food</a></li>\n<li><a href="/wiki/Food_delivery" title="Food delivery">Food delivery</a></li>\n<li><a href="/wiki/Restaurant" title="Restaurant">Restaurants</a></li>\n<li><a href="/wiki/Teahouse" title="Teahouse">Teahouses</a></li></ul></li>\n<li><a href="/wiki/Hotel" title="Hotel">Hotels</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Asset_management" title="Asset management">Asset management</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Financial_services" title="Financial services">Financial services</a>\n<ul><li><a href="/wiki/Bank" title="Bank">Banking</a></li>\n<li><a href="/wiki/Credit" title="Credit">Credit</a></li>\n<li><a href="/wiki/Financial_adviser" title="Financial adviser">Financial advice</a></li>\n<li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li>\n<li><a href="/wiki/Lease" title="Lease">Leasing</a></li>\n<li><a href="/wiki/Electronic_funds_transfer" title="Electronic funds transfer">Money transfer</a></li>\n<li><a href="/wiki/Payment_card_industry" title="Payment card industry">Payment cards</a></li>\n<li><a href="/wiki/Risk_management" title="Risk management">Risk management</a></li>\n<li><a href="/wiki/Security_(finance)" title="Security (finance)">Securities</a></li></ul></li>\n<li><a class="mw-selflink selflink">Insurance</a>\n<ul><li><a href="/wiki/Health_insurance" title="Health insurance">Health insurance</a></li>\n<li><a href="/wiki/Life_insurance" title="Life insurance">Life insurance</a></li>\n<li><a href="/wiki/Pension_fund" title="Pension fund">Pension funding</a></li>\n<li><a href="/wiki/Property_insurance" title="Property insurance">Property insurance</a></li>\n<li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a></li></ul></li>\n<li><a href="/wiki/Real_estate_economics" title="Real estate economics">Real estate</a>\n<ul><li><a href="/w/index.php?title=House_rental&amp;action=edit&amp;redlink=1" class="new" title="House rental (page does not exist)">House rental</a></li>\n<li><a href="/wiki/Property_management" title="Property management">Property management</a></li>\n<li><a href="/wiki/Real_estate_broker" class="mw-redirect" title="Real estate broker">Real estate brokerage</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Professional_services" title="Professional services">Professional</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Accounting_network" title="Accounting network">Accounting</a>\n<ul><li><a href="/wiki/Assurance_services" title="Assurance services">Assurance</a></li>\n<li><a href="/wiki/Audit" title="Audit">Audit</a></li>\n<li><a href="/wiki/Bookkeeping" title="Bookkeeping">Bookkeeping</a></li>\n<li><a href="/wiki/Tax_advisor" title="Tax advisor">Tax advice</a></li></ul></li>\n<li><a href="/wiki/Architectural_firm" title="Architectural firm">Architecture</a> &amp; <a href="/wiki/Engineering" title="Engineering">engineering</a>\n<ul><li><a href="/wiki/Inspection" title="Inspection">Inspection</a></li>\n<li><a href="/wiki/Surveying" title="Surveying">Surveying</a></li>\n<li><a href="/wiki/Physical_test" title="Physical test">Physical</a>, <a href="/wiki/Product_testing" title="Product testing">product</a>, &amp; <a href="/wiki/System_testing" title="System testing">system testing</a></li></ul></li>\n<li><a href="/wiki/Design" title="Design">Design</a>\n<ul><li><a href="/wiki/Fashion_design" title="Fashion design">Fashion</a></li>\n<li><a href="/wiki/Interior_design" title="Interior design">Interior</a></li>\n<li><a href="/wiki/Industrial_design" title="Industrial design">Product</a></li></ul></li>\n<li><a href="/wiki/Practice_of_law" title="Practice of law">Legal services</a></li>\n<li><a href="/wiki/Management" title="Management">Management</a>\n<ul><li><a href="/wiki/Consulting_firm" title="Consulting firm">Consulting</a></li>\n<li><a href="/wiki/Public_relations" title="Public relations">Public relations</a></li></ul></li>\n<li><a href="/wiki/Marketing" title="Marketing">Marketing</a>\n<ul><li><a href="/wiki/Advertising_industry" title="Advertising industry">Advertising</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Healthcare_industry" title="Healthcare industry">Healthcare</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li>Medicine\n<ul><li><a href="/wiki/Dentist_office" class="mw-redirect" title="Dentist office">Dentist offices</a></li>\n<li><a href="/wiki/Hospital" title="Hospital">Hospitals</a></li>\n<li><a href="/wiki/Nursing" title="Nursing">Nursing</a></li></ul></li>\n<li><a href="/wiki/Residential_care" title="Residential care">Residential care</a></li>\n<li><a href="/wiki/Veterinary_medicine" title="Veterinary medicine">Veterinary medicine</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Entertainment#Industry" title="Entertainment">Entertainment</a><br />            &amp; <a href="/wiki/Leisure_industry" title="Leisure industry">leisure</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Casino" title="Casino">Gambling</a>\n<ul><li><a href="/wiki/Online_gambling" title="Online gambling">Online</a></li></ul></li>\n<li><a href="/wiki/Sport_industry" title="Sport industry">Sport</a></li>\n<li>Venues\n<ul><li><a href="/wiki/Amusement_arcade" title="Amusement arcade">Arcades</a></li>\n<li><a href="/wiki/Amusement_park" title="Amusement park">Amusement parks</a></li>\n<li><a href="/wiki/Fair" title="Fair">Fairgrounds</a></li>\n<li><a href="/wiki/Nightclub" title="Nightclub">Nightclubs</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li>Administrative\n<ul><li><a href="/wiki/Customer_service" title="Customer service">Customer service</a></li>\n<li><a href="/wiki/Renting" title="Renting">Renting</a></li>\n<li><a href="/wiki/Employment_agency" title="Employment agency">Staffing</a></li>\n<li><a href="/wiki/Private_investigator" title="Private investigator">Private investigation</a> &amp; <a href="/wiki/Security_company" title="Security company">security</a></li></ul></li>\n<li>Maintenance\n<ul><li><a href="/wiki/Janitor" title="Janitor">Janitors</a></li>\n<li><a href="/wiki/Landscape_maintenance" title="Landscape maintenance">Landscaping</a></li></ul></li>\n<li><a href="/wiki/Maintenance_(technical)" title="Maintenance (technical)">Repairs</a></li>\n<li>Personal services\n<ul><li><a href="/wiki/Beauty_salon" title="Beauty salon">Beauty</a></li>\n<li><a href="/wiki/Dry_cleaning" title="Dry cleaning">Dry cleaning</a></li>\n<li><a href="/wiki/Funeral_industry" class="mw-redirect" title="Funeral industry">Funeral</a></li>\n<li><a href="/wiki/Maid_service" title="Maid service">Maid service</a></li>\n<li><a href="/wiki/Pet_industry" title="Pet industry">Pet care</a></li>\n<li><a href="/wiki/Sex_industry" title="Sex industry">Sex</a></li></ul></li>\n<li><a href="/wiki/Poverty_industry" title="Poverty industry">Poverty</a></li>\n<li>Travel\n<ul><li><a href="/wiki/Business_travel" title="Business travel">Business travel</a></li>\n<li><a href="/wiki/Cruise_line" title="Cruise line">Cruise lines</a></li>\n<li><a href="/wiki/Tourism" title="Tourism">Tourism</a></li></ul></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Information_sector" style="font-size:114%;margin:0 4em"><a href="/wiki/Quaternary_sector_of_the_economy" title="Quaternary sector of the economy">Information sector</a></div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Publishing" title="Publishing">Publishing</a> <br /> &amp; <a href="/wiki/Mass_media" title="Mass media">Mass media</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li>Written\n<ul><li><a href="/wiki/Book" title="Book">Books</a></li>\n<li><a href="/wiki/Periodical_literature" title="Periodical literature">Periodicals</a></li>\n<li><a href="/wiki/Software_industry" title="Software industry">Software</a></li></ul></li>\n<li>Audio-visual\n<ul><li><a href="/wiki/Film_industry" title="Film industry">Film</a></li>\n<li><a href="/wiki/Music_industry" title="Music industry">Music</a></li>\n<li><a href="/wiki/Video_game_industry" title="Video game industry">Video games</a></li></ul></li>\n<li><a href="/wiki/Broadcasting" title="Broadcasting">Broadcasting</a>\n<ul><li><a href="/wiki/News_agency" title="News agency">News</a></li>\n<li><a href="/wiki/Radio_industry" title="Radio industry">Radio</a></li>\n<li><a href="/wiki/Television#Content" title="Television">Television</a></li></ul></li>\n<li><a href="/wiki/Internet" title="Internet">Internet</a>\n<ul><li><a href="/wiki/Web_hosting_service" title="Web hosting service">Hosting</a></li>\n<li><a href="/wiki/Social_networking_service" title="Social networking service">Social networks</a></li>\n<li><a href="/wiki/Streaming_media" title="Streaming media">Streaming</a></li>\n<li><a href="/wiki/Website" title="Website">Websites</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Education_economics" title="Education economics">Education</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Primary_education" title="Primary education">Primary</a></li>\n<li><a href="/wiki/Secondary_education" title="Secondary education">Secondary</a></li>\n<li><a href="/wiki/Tertiary_education" title="Tertiary education">Tertiary</a>\n<ul><li><a href="/wiki/Vocational_school" title="Vocational school">Vocational school</a></li>\n<li><a href="/wiki/University" title="University">University</a></li></ul></li>\n<li><a href="/wiki/Standardized_test" title="Standardized test">Testing</a></li>\n<li><a href="/wiki/Tutor" class="mw-redirect" title="Tutor">Tutoring</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Creative_industries" title="Creative industries">Creative</a></li>\n<li><a href="/wiki/Language_industry" title="Language industry">Language</a></li>\n<li><a href="/wiki/Research_and_development" title="Research and development">Research and development</a>\n<ul><li><a href="/wiki/Basic_research" title="Basic research">Basic research</a></li></ul></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks mw-collapsible mw-collapsed navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Related" style="font-size:114%;margin:0 4em">Related</div></th></tr><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0px"><div style="padding:0em 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Industry_classification" title="Industry classification">Classification <br /> standards</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li>Production-based\n<ul><li><a href="/wiki/Australian_and_New_Zealand_Standard_Industrial_Classification" title="Australian and New Zealand Standard Industrial Classification">ANZSIC</a></li>\n<li><i><b><a href="/wiki/International_Standard_Industrial_Classification" title="International Standard Industrial Classification">ISIC</a></b></i></li>\n<li><a href="/wiki/Statistical_Classification_of_Economic_Activities_in_the_European_Community" title="Statistical Classification of Economic Activities in the European Community">NACE</a></li>\n<li><a href="/wiki/North_American_Industry_Classification_System" title="North American Industry Classification System">NAICS</a></li>\n<li><a href="/wiki/Standard_Industrial_Classification" title="Standard Industrial Classification">SIC</a></li>\n<li><a href="/wiki/United_Kingdom_Standard_Industrial_Classification_of_Economic_Activities" title="United Kingdom Standard Industrial Classification of Economic Activities">UKSIC</a></li></ul></li>\n<li>Market-based\n<ul><li><a href="/wiki/Global_Industry_Classification_Standard" title="Global Industry Classification Standard">GICS</a></li>\n<li><a href="/wiki/Industry_Classification_Benchmark" title="Industry Classification Benchmark">ICB</a></li>\n<li><a href="/wiki/The_Refinitiv_Business_Classification" title="The Refinitiv Business Classification">TRBC</a></li></ul></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Factors_of_production" title="Factors of production">Inputs</a> <br /> &amp; <a href="/wiki/Output_(economics)" title="Output (economics)">outputs</a></th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Externality" title="Externality">Externalities</a>\n<ul><li><a href="/wiki/Community" title="Community">Community</a></li>\n<li><a href="/wiki/Crime" title="Crime">Crime</a></li>\n<li><a href="/wiki/Culture" title="Culture">Culture</a></li>\n<li><a href="/wiki/Pollution" title="Pollution">Pollution</a></li>\n<li><a href="/wiki/Well-being" title="Well-being">Well-being</a></li></ul></li>\n<li><a href="/wiki/Funding" title="Funding">Funding</a></li>\n<li><a href="/wiki/Goods" title="Goods">Goods</a>\n<ul><li><a href="/wiki/Commodity" title="Commodity">Commodities</a></li>\n<li><a href="/wiki/Final_good" title="Final good">Final</a></li>\n<li><a href="/wiki/Intermediate_good" title="Intermediate good">Intermediate</a></li>\n<li><a href="/wiki/Raw_material" title="Raw material">Raw material</a></li></ul></li>\n<li><a href="/wiki/Innovation" title="Innovation">Innovation</a></li>\n<li>Primary inputs\n<ul><li><a href="/wiki/Work_(human_activity)" title="Work (human activity)">Labor</a></li>\n<li><a href="/wiki/Natural_resource" title="Natural resource">Natural resources</a></li>\n<li><a href="/wiki/Physical_capital" title="Physical capital">Physical capital</a></li></ul></li>\n<li><a href="/wiki/Service_(economics)" title="Service (economics)">Services</a></li>\n<li><a href="/wiki/Technology" title="Technology">Technology</a></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Organization" title="Organization">Organization</a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><a href="/wiki/Centralization" class="mw-redirect" title="Centralization">Centralization</a>\n<ul><li><a href="/wiki/Cartel" title="Cartel">Cartel</a></li>\n<li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li>\n<li><a href="/wiki/Horizontal_integration" title="Horizontal integration">Horizontal integration</a></li>\n<li><a href="/wiki/Mergers_and_acquisitions" title="Mergers and acquisitions">Mergers and acquisitions</a></li>\n<li><a href="/wiki/Monopoly" title="Monopoly">Monopoly</a></li>\n<li><a href="/wiki/Monopsony" title="Monopsony">Monopsony</a></li>\n<li><a href="/wiki/Vertical_integration" title="Vertical integration">Vertical integration</a></li></ul></li>\n<li><a href="/wiki/Decentralization" title="Decentralization">Decentralization</a>\n<ul><li><a href="/wiki/Competition_law" title="Competition law">Enforced breakup</a></li>\n<li><a href="/wiki/Freelancer" title="Freelancer">Freelancing</a></li>\n<li><a href="/wiki/Homesteading" title="Homesteading">Homesteading</a></li>\n<li><a href="/wiki/Outsourcing" title="Outsourcing">Outsourcing</a></li>\n<li><a href="/wiki/Putting-out_system" title="Putting-out system">Putting-out system</a></li>\n<li><a href="/wiki/Corporate_spin-off" title="Corporate spin-off">Spinning-off</a></li>\n<li><a href="/wiki/Temporary_work" title="Temporary work">Temporary work</a></li></ul></li>\n<li><a href="/wiki/Ownership" title="Ownership">Ownership</a>\n<ul><li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li>\n<li><a href="/wiki/Joint-stock_company" title="Joint-stock company">Joint-stock company</a></li>\n<li><a href="/wiki/Nationalization" title="Nationalization">Nationalization</a></li>\n<li><a href="/wiki/Nonprofit_organization" title="Nonprofit organization">Nonprofit organization</a></li>\n<li><a href="/wiki/Partnership" title="Partnership">Partnership</a></li>\n<li><a href="/wiki/Privatization" title="Privatization">Privatization</a></li>\n<li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li>\n<li><a href="/wiki/State-owned_enterprise" title="State-owned enterprise">State-owned enterprise</a></li></ul></li></ul>\n</div></td></tr></tbody></table><div></div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div><div class="hlist hlist-separated">\n<ul><li><img alt="Category" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" title="Category" width="16" height="16" class="noviewer" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /> <a href="/wiki/Category:Industry_(economics)" title="Category:Industry (economics)"><b>Category</b></a></li>\n<li><img alt="Commons page" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png" decoding="async" title="Commons page" width="12" height="16" class="noviewer" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/18px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/24px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /> <a href="https://commons.wikimedia.org/wiki/Category:Industries" class="extiw" title="commons:Category:Industries"><b>Commons</b></a></li>\n<li><img alt="Outline" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/41/Global_thinking.svg/10px-Global_thinking.svg.png" decoding="async" title="Outline" width="10" height="16" class="noviewer" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/41/Global_thinking.svg/15px-Global_thinking.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/41/Global_thinking.svg/21px-Global_thinking.svg.png 2x" data-file-width="130" data-file-height="200" /> <a href="/wiki/Outline_of_industry" title="Outline of industry"><b>Outline</b></a></li></ul>\n</div></div></td></tr></tbody></table></div>\n<div role="navigation" class="navbox authority-control" aria-labelledby="Authority_control_frameless_&amp;#124;text-top_&amp;#124;10px_&amp;#124;alt=Edit_this_at_Wikidata_&amp;#124;link=https&amp;#58;//www.wikidata.org/wiki/Q43183#identifiers&amp;#124;Edit_this_at_Wikidata" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Authority_control_frameless_&amp;#124;text-top_&amp;#124;10px_&amp;#124;alt=Edit_this_at_Wikidata_&amp;#124;link=https&amp;#58;//www.wikidata.org/wiki/Q43183#identifiers&amp;#124;Edit_this_at_Wikidata" style="font-size:114%;margin:0 4em"><a href="/wiki/Help:Authority_control" title="Help:Authority control">Authority control</a> <a href="https://www.wikidata.org/wiki/Q43183#identifiers" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" style="vertical-align: text-top" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" data-file-width="20" data-file-height="20" /></a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">General</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><span class="uid"><a rel="nofollow" class="external text" href="https://d-nb.info/gnd/4063173-4">Integrated Authority File (Germany)</a></span></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">National libraries</th><td class="navbox-list navbox-even" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><span class="uid"><a rel="nofollow" class="external text" href="https://catalogue.bnf.fr/ark:/12148/cb12088831h">France</a> <a rel="nofollow" class="external text" href="https://data.bnf.fr/ark:/12148/cb12088831h">(data)</a></span></li>\n<li><span class="uid"><a rel="nofollow" class="external text" href="https://id.loc.gov/authorities/subjects/sh85066802">United States</a></span></li>\n<li><span class="uid"><a rel="nofollow" class="external text" href="https://id.ndl.go.jp/auth/ndlna/00563360">Japan</a></span></li></ul>\n</div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em">\n<ul><li><span class="uid"><a rel="nofollow" class="external text" href="https://academic.microsoft.com/v2/detail/2909152297">Microsoft Academic</a></span></li>\n<li><span class="uid"><a rel="nofollow" class="external text" href="https://catalog.archives.gov/id/10640606">National Archives (US)</a></span></li></ul>\n</div></td></tr></tbody></table></div>\n<!-- \nNewPP limit report\nParsed by mw2255\nCached time: 20210911161042\nCache expiry: 1814400\nReduced expiry: false\nComplications: [vary\xe2\x80\x90revision\xe2\x80\x90sha1]\nCPU time usage: 1.800 seconds\nReal time usage: 2.213 seconds\nPreprocessor visited node count: 7070/1000000\nPost\xe2\x80\x90expand include size: 408296/2097152 bytes\nTemplate argument size: 9285/2097152 bytes\nHighest expansion depth: 16/40\nExpensive parser function count: 16/500\nUnstrip recursion depth: 1/20\nUnstrip post\xe2\x80\x90expand size: 202465/5000000 bytes\nLua time usage: 0.724/10.000 seconds\nLua memory usage: 9529866/52428800 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class="mw-portlet mw-portlet-lang vector-menu vector-menu-portal portal" aria-labelledby="p-lang-label" role="navigation" \n\t >\n\t<h3 id="p-lang-label" class="vector-menu-heading"><span>Languages</span>\n\t</h3>\n\t<div class="vector-menu-content">\n\t\t\n\t\t<ul class="vector-menu-content-list"><li class="interlanguage-link interwiki-af mw-list-item"><a href="https://af.wikipedia.org/wiki/Versekering" title="Versekering \xe2\x80\x93 Afrikaans" lang="af" hreflang="af" class="interlanguage-link-target">Afrikaans</a></li><li class="interlanguage-link interwiki-ar badge-Q17437796 badge-featuredarticle mw-list-item" title="featured article badge"><a href="https://ar.wikipedia.org/wiki/%D8%AA%D8%A3%D9%85%D9%8A%D9%86" title="\xd8\xaa\xd8\xa3\xd9\x85\xd9\x8a\xd9\x86 \xe2\x80\x93 Arabic" lang="ar" hreflang="ar" class="interlanguage-link-target">\xd8\xa7\xd9\x84\xd8\xb9\xd8\xb1\xd8\xa8\xd9\x8a\xd8\xa9</a></li><li class="interlanguage-link interwiki-arc mw-list-item"><a href="https://arc.wikipedia.org/wiki/%DC%AC%DC%AB%DC%A2%DC%9D%DC%AC%DC%90" title="\xdc\xac\xdc\xab\xdc\xa2\xdc\x9d\xdc\xac\xdc\x90 \xe2\x80\x93 Aramaic" lang="arc" hreflang="arc" class="interlanguage-link-target">\xdc\x90\xdc\xaa\xdc\xa1\xdc\x9d\xdc\x90</a></li><li class="interlanguage-link interwiki-as mw-list-item"><a href="https://as.wikipedia.org/wiki/%E0%A6%AC%E0%A7%80%E0%A6%AE%E0%A6%BE" title="\xe0\xa6\xac\xe0\xa7\x80\xe0\xa6\xae\xe0\xa6\xbe \xe2\x80\x93 Assamese" lang="as" hreflang="as" class="interlanguage-link-target">\xe0\xa6\x85\xe0\xa6\xb8\xe0\xa6\xae\xe0\xa7\x80\xe0\xa6\xaf\xe0\xa6\xbc\xe0\xa6\xbe</a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Seguru" title="Seguru \xe2\x80\x93 Asturian" lang="ast" hreflang="ast" class="interlanguage-link-target">Asturianu</a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/S%C4%B1%C4%9Forta" title="S\xc4\xb1\xc4\x9forta \xe2\x80\x93 Azerbaijani" lang="az" hreflang="az" class="interlanguage-link-target">Az\xc9\x99rbaycanca</a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a href="https://azb.wikipedia.org/wiki/%D8%A8%DB%8C%D9%85%D9%87" title="\xd8\xa8\xdb\x8c\xd9\x85\xd9\x87 \xe2\x80\x93 South Azerbaijani" lang="azb" hreflang="azb" class="interlanguage-link-target">\xd8\xaa\xdb\x86\xd8\xb1\xda\xa9\xd8\xac\xd9\x87</a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%AC%E0%A7%80%E0%A6%AE%E0%A6%BE" title="\xe0\xa6\xac\xe0\xa7\x80\xe0\xa6\xae\xe0\xa6\xbe \xe2\x80\x93 Bangla" lang="bn" hreflang="bn" class="interlanguage-link-target">\xe0\xa6\xac\xe0\xa6\xbe\xe0\xa6\x82\xe0\xa6\xb2\xe0\xa6\xbe</a></li><li class="interlanguage-link interwiki-zh-min-nan mw-list-item"><a href="https://zh-min-nan.wikipedia.org/wiki/P%C3%B3-hi%C3%A1m" title="P\xc3\xb3-hi\xc3\xa1m \xe2\x80\x93 Chinese (Min Nan)" lang="nan" hreflang="nan" class="interlanguage-link-target">B\xc3\xa2n-l\xc3\xa2m-g\xc3\xba</a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%A1%D1%82%D1%80%D0%B0%D1%85%D0%B0%D0%B2%D0%B0%D0%BD%D0%BD%D0%B5" title="\xd0\xa1\xd1\x82\xd1\x80\xd0\xb0\xd1\x85\xd0\xb0\xd0\xb2\xd0\xb0\xd0\xbd\xd0\xbd\xd0\xb5 \xe2\x80\x93 Belarusian" lang="be" hreflang="be" class="interlanguage-link-target">\xd0\x91\xd0\xb5\xd0\xbb\xd0\xb0\xd1\x80\xd1\x83\xd1\x81\xd0\xba\xd0\xb0\xd1\x8f</a></li><li class="interlanguage-link interwiki-be-x-old mw-list-item"><a href="https://be-tarask.wikipedia.org/wiki/%D0%A1%D1%82%D1%80%D0%B0%D1%85%D0%B0%D0%B2%D0%B0%D0%BD%D1%8C%D0%BD%D0%B5" title="\xd0\xa1\xd1\x82\xd1\x80\xd0\xb0\xd1\x85\xd0\xb0\xd0\xb2\xd0\xb0\xd0\xbd\xd1\x8c\xd0\xbd\xd0\xb5 \xe2\x80\x93 Belarusian (Tara\xc5\xa1kievica orthography)" lang="be-tarask" hreflang="be-tarask" class="interlanguage-link-target">\xd0\x91\xd0\xb5\xd0\xbb\xd0\xb0\xd1\x80\xd1\x83\xd1\x81\xd0\xba\xd0\xb0\xd1\x8f (\xd1\x82\xd0\xb0\xd1\x80\xd0\xb0\xd1\x88\xd0\xba\xd0\xb5\xd0\xb2\xd1\x96\xd1\x86\xd0\xb0)</a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%97%D0%B0%D1%81%D1%82%D1%80%D0%B0%D1%85%D0%BE%D0%B2%D0%B0%D0%BD%D0%B5" title="\xd0\x97\xd0\xb0\xd1\x81\xd1\x82\xd1\x80\xd0\xb0\xd1\x85\xd0\xbe\xd0\xb2\xd0\xb0\xd0\xbd\xd0\xb5 \xe2\x80\x93 Bulgarian" lang="bg" hreflang="bg" class="interlanguage-link-target">\xd0\x91\xd1\x8a\xd0\xbb\xd0\xb3\xd0\xb0\xd1\x80\xd1\x81\xd0\xba\xd0\xb8</a></li><li class="interlanguage-link interwiki-bxr mw-list-item"><a href="https://bxr.wikipedia.org/wiki/%D0%94%D0%B0%D0%B0%D0%B4%D1%85%D0%B0%D0%BB" title="\xd0\x94\xd0\xb0\xd0\xb0\xd0\xb4\xd1\x85\xd0\xb0\xd0\xbb \xe2\x80\x93 Russia Buriat" lang="bxr" hreflang="bxr" class="interlanguage-link-target">\xd0\x91\xd1\x83\xd1\x80\xd1\x8f\xd0\xb0\xd0\xb4</a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Contracte_d%27asseguran%C3%A7a" title="Contracte d&#039;asseguran\xc3\xa7a \xe2\x80\x93 Catalan" lang="ca" hreflang="ca" class="interlanguage-link-target">Catal\xc3\xa0</a></li><li class="interlanguage-link interwiki-cv mw-list-item"><a href="https://cv.wikipedia.org/wiki/%D0%A8%D0%B0%D0%BD%C4%83%C3%A7%D0%BB%D0%B0%D0%BD%D0%B8" title="\xd0\xa8\xd0\xb0\xd0\xbd\xc4\x83\xc3\xa7\xd0\xbb\xd0\xb0\xd0\xbd\xd0\xb8 \xe2\x80\x93 Chuvash" lang="cv" hreflang="cv" class="interlanguage-link-target">\xd0\xa7\xd3\x91\xd0\xb2\xd0\xb0\xd1\x88\xd0\xbb\xd0\xb0</a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Poji%C5%A1t%C4%9Bn%C3%AD" title="Poji\xc5\xa1t\xc4\x9bn\xc3\xad \xe2\x80\x93 Czech" lang="cs" hreflang="cs" class="interlanguage-link-target">\xc4\x8ce\xc5\xa1tina</a></li><li class="interlanguage-link interwiki-sn mw-list-item"><a href="https://sn.wikipedia.org/wiki/Tsivatsaona" title="Tsivatsaona \xe2\x80\x93 Shona" lang="sn" hreflang="sn" class="interlanguage-link-target">ChiShona</a></li><li class="interlanguage-link interwiki-cy mw-list-item"><a href="https://cy.wikipedia.org/wiki/Yswiriant" title="Yswiriant \xe2\x80\x93 Welsh" lang="cy" hreflang="cy" class="interlanguage-link-target">Cymraeg</a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/Forsikring" title="Forsikring \xe2\x80\x93 Danish" lang="da" hreflang="da" class="interlanguage-link-target">Dansk</a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Versicherung_(Kollektiv)" title="Versicherung (Kollektiv) \xe2\x80\x93 German" lang="de" hreflang="de" class="interlanguage-link-target">Deutsch</a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Kindlustus" title="Kindlustus \xe2\x80\x93 Estonian" lang="et" hreflang="et" class="interlanguage-link-target">Eesti</a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%91%CF%83%CF%86%CE%AC%CE%BB%CE%B5%CE%B9%CE%B1_(%CF%83%CF%8D%CE%BC%CE%B2%CE%B1%CF%83%CE%B7)" title="\xce\x91\xcf\x83\xcf\x86\xce\xac\xce\xbb\xce\xb5\xce\xb9\xce\xb1 (\xcf\x83\xcf\x8d\xce\xbc\xce\xb2\xce\xb1\xcf\x83\xce\xb7) \xe2\x80\x93 Greek" lang="el" hreflang="el" class="interlanguage-link-target">\xce\x95\xce\xbb\xce\xbb\xce\xb7\xce\xbd\xce\xb9\xce\xba\xce\xac</a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Seguro" title="Seguro \xe2\x80\x93 Spanish" lang="es" hreflang="es" class="interlanguage-link-target">Espa\xc3\xb1ol</a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Asekuro" title="Asekuro \xe2\x80\x93 Esperanto" lang="eo" hreflang="eo" class="interlanguage-link-target">Esperanto</a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Aseguru" title="Aseguru \xe2\x80\x93 Basque" lang="eu" hreflang="eu" class="interlanguage-link-target">Euskara</a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A8%DB%8C%D9%85%D9%87" title="\xd8\xa8\xdb\x8c\xd9\x85\xd9\x87 \xe2\x80\x93 Persian" lang="fa" hreflang="fa" class="interlanguage-link-target">\xd9\x81\xd8\xa7\xd8\xb1\xd8\xb3\xdb\x8c</a></li><li class="interlanguage-link interwiki-fo mw-list-item"><a href="https://fo.wikipedia.org/wiki/Trygging" title="Trygging \xe2\x80\x93 Faroese" lang="fo" hreflang="fo" class="interlanguage-link-target">F\xc3\xb8royskt</a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Assurance" title="Assurance \xe2\x80\x93 French" lang="fr" hreflang="fr" class="interlanguage-link-target">Fran\xc3\xa7ais</a></li><li class="interlanguage-link interwiki-fy mw-list-item"><a href="https://fy.wikipedia.org/wiki/Fersekering" title="Fersekering \xe2\x80\x93 Western Frisian" lang="fy" hreflang="fy" class="interlanguage-link-target">Frysk</a></li><li class="interlanguage-link interwiki-ga mw-list-item"><a href="https://ga.wikipedia.org/wiki/%C3%81rachas" title="\xc3\x81rachas \xe2\x80\x93 Irish" lang="ga" hreflang="ga" class="interlanguage-link-target">Gaeilge</a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Seguro" title="Seguro \xe2\x80\x93 Galician" lang="gl" hreflang="gl" class="interlanguage-link-target">Galego</a></li><li class="interlanguage-link interwiki-gu mw-list-item"><a href="https://gu.wikipedia.org/wiki/%E0%AA%B5%E0%AB%80%E0%AA%AE%E0%AB%8B" title="\xe0\xaa\xb5\xe0\xab\x80\xe0\xaa\xae\xe0\xab\x8b \xe2\x80\x93 Gujarati" lang="gu" hreflang="gu" class="interlanguage-link-target">\xe0\xaa\x97\xe0\xab\x81\xe0\xaa\x9c\xe0\xaa\xb0\xe0\xaa\xbe\xe0\xaa\xa4\xe0\xab\x80</a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%B3%B4%ED%97%98" title="\xeb\xb3\xb4\xed\x97\x98 \xe2\x80\x93 Korean" lang="ko" hreflang="ko" class="interlanguage-link-target">\xed\x95\x9c\xea\xb5\xad\xec\x96\xb4</a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B1%D5%BA%D5%A1%D5%B0%D5%B8%D5%BE%D5%A1%D5%A3%D6%80%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6" title="\xd4\xb1\xd5\xba\xd5\xa1\xd5\xb0\xd5\xb8\xd5\xbe\xd5\xa1\xd5\xa3\xd6\x80\xd5\xb8\xd6\x82\xd5\xa9\xd5\xb5\xd5\xb8\xd6\x82\xd5\xb6 \xe2\x80\x93 Armenian" lang="hy" hreflang="hy" class="interlanguage-link-target">\xd5\x80\xd5\xa1\xd5\xb5\xd5\xa5\xd6\x80\xd5\xa5\xd5\xb6</a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%AC%E0%A5%80%E0%A4%AE%E0%A4%BE" title="\xe0\xa4\xac\xe0\xa5\x80\xe0\xa4\xae\xe0\xa4\xbe \xe2\x80\x93 Hindi" lang="hi" hreflang="hi" class="interlanguage-link-target">\xe0\xa4\xb9\xe0\xa4\xbf\xe0\xa4\xa8\xe0\xa5\x8d\xe0\xa4\xa6\xe0\xa5\x80</a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Osiguranje" title="Osiguranje \xe2\x80\x93 Croatian" lang="hr" hreflang="hr" class="interlanguage-link-target">Hrvatski</a></li><li class="interlanguage-link interwiki-io mw-list-item"><a href="https://io.wikipedia.org/wiki/Asekuro" title="Asekuro \xe2\x80\x93 Ido" lang="io" hreflang="io" class="interlanguage-link-target">Ido</a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Asuransi" title="Asuransi \xe2\x80\x93 Indonesian" lang="id" hreflang="id" class="interlanguage-link-target">Bahasa Indonesia</a></li><li class="interlanguage-link interwiki-is mw-list-item"><a href="https://is.wikipedia.org/wiki/V%C3%A1trygging" title="V\xc3\xa1trygging \xe2\x80\x93 Icelandic" lang="is" hreflang="is" class="interlanguage-link-target">\xc3\x8dslenska</a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Assicurazione" title="Assicurazione \xe2\x80\x93 Italian" lang="it" hreflang="it" class="interlanguage-link-target">Italiano</a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%91%D7%99%D7%98%D7%95%D7%97" title="\xd7\x91\xd7\x99\xd7\x98\xd7\x95\xd7\x97 \xe2\x80\x93 Hebrew" lang="he" hreflang="he" class="interlanguage-link-target">\xd7\xa2\xd7\x91\xd7\xa8\xd7\x99\xd7\xaa</a></li><li class="interlanguage-link interwiki-kbp mw-list-item"><a href="https://kbp.wikipedia.org/wiki/H%CA%8Ay%CA%8A%CA%8A_%C9%96%CA%8A%CA%8A_(Assurance)" title="H\xca\x8ay\xca\x8a\xca\x8a \xc9\x96\xca\x8a\xca\x8a (Assurance) \xe2\x80\x93 Kabiye" lang="kbp" hreflang="kbp" class="interlanguage-link-target">Kab\xc9\xa9y\xc9\x9b</a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%B5%E0%B2%BF%E0%B2%AE%E0%B3%86" title="\xe0\xb2\xb5\xe0\xb2\xbf\xe0\xb2\xae\xe0\xb3\x86 \xe2\x80\x93 Kannada" lang="kn" hreflang="kn" class="interlanguage-link-target">\xe0\xb2\x95\xe0\xb2\xa8\xe0\xb3\x8d\xe0\xb2\xa8\xe0\xb2\xa1</a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%93%E1%83%90%E1%83%96%E1%83%A6%E1%83%95%E1%83%94%E1%83%95%E1%83%90" title="\xe1\x83\x93\xe1\x83\x90\xe1\x83\x96\xe1\x83\xa6\xe1\x83\x95\xe1\x83\x94\xe1\x83\x95\xe1\x83\x90 \xe2\x80\x93 Georgian" lang="ka" hreflang="ka" class="interlanguage-link-target">\xe1\x83\xa5\xe1\x83\x90\xe1\x83\xa0\xe1\x83\x97\xe1\x83\xa3\xe1\x83\x9a\xe1\x83\x98</a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%A1%D0%B0%D2%9B%D1%82%D0%B0%D0%BD%D0%B4%D1%8B%D1%80%D1%83" title="\xd0\xa1\xd0\xb0\xd2\x9b\xd1\x82\xd0\xb0\xd0\xbd\xd0\xb4\xd1\x8b\xd1\x80\xd1\x83 \xe2\x80\x93 Kazakh" lang="kk" hreflang="kk" class="interlanguage-link-target">\xd2\x9a\xd0\xb0\xd0\xb7\xd0\xb0\xd2\x9b\xd1\x88\xd0\xb0</a></li><li class="interlanguage-link interwiki-sw mw-list-item"><a href="https://sw.wikipedia.org/wiki/Bima" title="Bima \xe2\x80\x93 Swahili" lang="sw" hreflang="sw" class="interlanguage-link-target">Kiswahili</a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/Apdro%C5%A1in%C4%81%C5%A1ana" title="Apdro\xc5\xa1in\xc4\x81\xc5\xa1ana \xe2\x80\x93 Latvian" lang="lv" hreflang="lv" class="interlanguage-link-target">Latvie\xc5\xa1u</a></li><li class="interlanguage-link interwiki-lb mw-list-item"><a href="https://lb.wikipedia.org/wiki/Assurance" title="Assurance \xe2\x80\x93 Luxembourgish" lang="lb" hreflang="lb" class="interlanguage-link-target">L\xc3\xabtzebuergesch</a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Draudimas" title="Draudimas \xe2\x80\x93 Lithuanian" lang="lt" hreflang="lt" class="interlanguage-link-target">Lietuvi\xc5\xb3</a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Biztos%C3%ADt%C3%A1s" title="Biztos\xc3\xadt\xc3\xa1s \xe2\x80\x93 Hungarian" lang="hu" hreflang="hu" class="interlanguage-link-target">Magyar</a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%9E%D1%81%D0%B8%D0%B3%D1%83%D1%80%D1%83%D0%B2%D0%B0%D1%9A%D0%B5" title="\xd0\x9e\xd1\x81\xd0\xb8\xd0\xb3\xd1\x83\xd1\x80\xd1\x83\xd0\xb2\xd0\xb0\xd1\x9a\xd0\xb5 \xe2\x80\x93 Macedonian" lang="mk" hreflang="mk" class="interlanguage-link-target">\xd0\x9c\xd0\xb0\xd0\xba\xd0\xb5\xd0\xb4\xd0\xbe\xd0\xbd\xd1\x81\xd0\xba\xd0\xb8</a></li><li class="interlanguage-link interwiki-ml mw-list-item"><a href="https://ml.wikipedia.org/wiki/%E0%B4%87%E0%B5%BB%E0%B4%B7%E0%B5%81%E0%B4%B1%E0%B5%BB%E0%B4%B8%E0%B5%8D" title="\xe0\xb4\x87\xe0\xb5\xbb\xe0\xb4\xb7\xe0\xb5\x81\xe0\xb4\xb1\xe0\xb5\xbb\xe0\xb4\xb8\xe0\xb5\x8d \xe2\x80\x93 Malayalam" lang="ml" hreflang="ml" class="interlanguage-link-target">\xe0\xb4\xae\xe0\xb4\xb2\xe0\xb4\xaf\xe0\xb4\xbe\xe0\xb4\xb3\xe0\xb4\x82</a></li><li class="interlanguage-link interwiki-mr mw-list-item"><a href="https://mr.wikipedia.org/wiki/%E0%A4%B5%E0%A4%BF%E0%A4%AE%E0%A4%BE" title="\xe0\xa4\xb5\xe0\xa4\xbf\xe0\xa4\xae\xe0\xa4\xbe \xe2\x80\x93 Marathi" lang="mr" hreflang="mr" class="interlanguage-link-target">\xe0\xa4\xae\xe0\xa4\xb0\xe0\xa4\xbe\xe0\xa4\xa0\xe0\xa5\x80</a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Insurans" title="Insurans \xe2\x80\x93 Malay" lang="ms" hreflang="ms" class="interlanguage-link-target">Bahasa Melayu</a></li><li class="interlanguage-link interwiki-min mw-list-item"><a href="https://min.wikipedia.org/wiki/Asuransi" title="Asuransi \xe2\x80\x93 Minangkabau" lang="min" hreflang="min" class="interlanguage-link-target">Minangkabau</a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D0%94%D0%B0%D0%B0%D1%82%D0%B3%D0%B0%D0%BB" title="\xd0\x94\xd0\xb0\xd0\xb0\xd1\x82\xd0\xb3\xd0\xb0\xd0\xbb \xe2\x80\x93 Mongolian" lang="mn" hreflang="mn" class="interlanguage-link-target">\xd0\x9c\xd0\xbe\xd0\xbd\xd0\xb3\xd0\xbe\xd0\xbb</a></li><li class="interlanguage-link interwiki-my mw-list-item"><a href="https://my.wikipedia.org/wiki/%E1%80%A1%E1%80%AC%E1%80%99%E1%80%81%E1%80%B6%E1%80%9C%E1%80%AF%E1%80%95%E1%80%BA%E1%80%84%E1%80%94%E1%80%BA%E1%80%B8" title="\xe1\x80\xa1\xe1\x80\xac\xe1\x80\x99\xe1\x80\x81\xe1\x80\xb6\xe1\x80\x9c\xe1\x80\xaf\xe1\x80\x95\xe1\x80\xba\xe1\x80\x84\xe1\x80\x94\xe1\x80\xba\xe1\x80\xb8 \xe2\x80\x93 Burmese" lang="my" hreflang="my" class="interlanguage-link-target">\xe1\x80\x99\xe1\x80\xbc\xe1\x80\x94\xe1\x80\xba\xe1\x80\x99\xe1\x80\xac\xe1\x80\x98\xe1\x80\xac\xe1\x80\x9e\xe1\x80\xac</a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Verzekering" title="Verzekering \xe2\x80\x93 Dutch" lang="nl" hreflang="nl" class="interlanguage-link-target">Nederlands</a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A4%AC%E0%A5%80%E0%A4%AE%E0%A4%BE" title="\xe0\xa4\xac\xe0\xa5\x80\xe0\xa4\xae\xe0\xa4\xbe \xe2\x80\x93 Nepali" lang="ne" hreflang="ne" class="interlanguage-link-target">\xe0\xa4\xa8\xe0\xa5\x87\xe0\xa4\xaa\xe0\xa4\xbe\xe0\xa4\xb2\xe0\xa5\x80</a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E4%BF%9D%E9%99%BA" title="\xe4\xbf\x9d\xe9\x99\xba \xe2\x80\x93 Japanese" lang="ja" hreflang="ja" class="interlanguage-link-target">\xe6\x97\xa5\xe6\x9c\xac\xe8\xaa\x9e</a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Forsikring" title="Forsikring \xe2\x80\x93 Norwegian Bokm\xc3\xa5l" lang="nb" hreflang="nb" class="interlanguage-link-target">Norsk bokm\xc3\xa5l</a></li><li class="interlanguage-link interwiki-nn mw-list-item"><a href="https://nn.wikipedia.org/wiki/Forsikring" title="Forsikring \xe2\x80\x93 Norwegian Nynorsk" lang="nn" hreflang="nn" class="interlanguage-link-target">Norsk nynorsk</a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Sug%CA%BBurta" title="Sug\xca\xbburta \xe2\x80\x93 Uzbek" lang="uz" hreflang="uz" class="interlanguage-link-target">O\xca\xbbzbekcha/\xd1\x9e\xd0\xb7\xd0\xb1\xd0\xb5\xd0\xba\xd1\x87\xd0\xb0</a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Ubezpieczenie_(umowa)" title="Ubezpieczenie (umowa) \xe2\x80\x93 Polish" lang="pl" hreflang="pl" class="interlanguage-link-target">Polski</a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Seguro" title="Seguro \xe2\x80\x93 Portuguese" lang="pt" hreflang="pt" class="interlanguage-link-target">Portugu\xc3\xaas</a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Asigurare" title="Asigurare \xe2\x80\x93 Romanian" lang="ro" hreflang="ro" class="interlanguage-link-target">Rom\xc3\xa2n\xc4\x83</a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%A1%D1%82%D1%80%D0%B0%D1%85%D0%BE%D0%B2%D0%B0%D0%BD%D0%B8%D0%B5" title="\xd0\xa1\xd1\x82\xd1\x80\xd0\xb0\xd1\x85\xd0\xbe\xd0\xb2\xd0\xb0\xd0\xbd\xd0\xb8\xd0\xb5 \xe2\x80\x93 Russian" lang="ru" hreflang="ru" class="interlanguage-link-target">\xd0\xa0\xd1\x83\xd1\x81\xd1\x81\xd0\xba\xd0\xb8\xd0\xb9</a></li><li class="interlanguage-link interwiki-sco mw-list-item"><a href="https://sco.wikipedia.org/wiki/Insurance" title="Insurance \xe2\x80\x93 Scots" lang="sco" hreflang="sco" class="interlanguage-link-target">Scots</a></li><li class="interlanguage-link interwiki-si mw-list-item"><a href="https://si.wikipedia.org/wiki/%E0%B6%BB%E0%B6%9A%E0%B7%8A%E2%80%8D%E0%B7%82%E0%B6%AB%E0%B6%BA" title="\xe0\xb6\xbb\xe0\xb6\x9a\xe0\xb7\x8a\xe2\x80\x8d\xe0\xb7\x82\xe0\xb6\xab\xe0\xb6\xba \xe2\x80\x93 Sinhala" lang="si" hreflang="si" class="interlanguage-link-target">\xe0\xb7\x83\xe0\xb7\x92\xe0\xb6\x82\xe0\xb7\x84\xe0\xb6\xbd</a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Insurance" title="Insurance \xe2\x80\x93 Simple English" lang="en-simple" hreflang="en-simple" class="interlanguage-link-target">Simple English</a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Poistenie" title="Poistenie \xe2\x80\x93 Slovak" lang="sk" hreflang="sk" class="interlanguage-link-target">Sloven\xc4\x8dina</a></li><li class="interlanguage-link interwiki-ckb mw-list-item"><a href="https://ckb.wikipedia.org/wiki/%D8%A8%DB%8C%D9%85%DB%95" title="\xd8\xa8\xdb\x8c\xd9\x85\xdb\x95 \xe2\x80\x93 Central Kurdish" lang="ckb" hreflang="ckb" class="interlanguage-link-target">\xda\xa9\xd9\x88\xd8\xb1\xd8\xaf\xdb\x8c</a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%9E%D1%81%D0%B8%D0%B3%D1%83%D1%80%D0%B0%D1%9A%D0%B5" title="\xd0\x9e\xd1\x81\xd0\xb8\xd0\xb3\xd1\x83\xd1\x80\xd0\xb0\xd1\x9a\xd0\xb5 \xe2\x80\x93 Serbian" lang="sr" hreflang="sr" class="interlanguage-link-target">\xd0\xa1\xd1\x80\xd0\xbf\xd1\x81\xd0\xba\xd0\xb8 / srpski</a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/Osiguranje" title="Osiguranje \xe2\x80\x93 Serbo-Croatian" lang="sh" hreflang="sh" class="interlanguage-link-target">Srpskohrvatski / \xd1\x81\xd1\x80\xd0\xbf\xd1\x81\xd0\xba\xd0\xbe\xd1\x85\xd1\x80\xd0\xb2\xd0\xb0\xd1\x82\xd1\x81\xd0\xba\xd0\xb8</a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Vakuutus" title="Vakuutus \xe2\x80\x93 Finnish" lang="fi" hreflang="fi" class="interlanguage-link-target">Suomi</a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/F%C3%B6rs%C3%A4kring" title="F\xc3\xb6rs\xc3\xa4kring \xe2\x80\x93 Swedish" lang="sv" hreflang="sv" class="interlanguage-link-target">Svenska</a></li><li class="interlanguage-link interwiki-tl mw-list-item"><a href="https://tl.wikipedia.org/wiki/Seguro" title="Seguro \xe2\x80\x93 Tagalog" lang="tl" hreflang="tl" class="interlanguage-link-target">Tagalog</a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%95%E0%AE%BE%E0%AE%AA%E0%AF%8D%E0%AE%AA%E0%AF%80%E0%AE%9F%E0%AF%81" title="\xe0\xae\x95\xe0\xae\xbe\xe0\xae\xaa\xe0\xaf\x8d\xe0\xae\xaa\xe0\xaf\x80\xe0\xae\x9f\xe0\xaf\x81 \xe2\x80\x93 Tamil" lang="ta" hreflang="ta" class="interlanguage-link-target">\xe0\xae\xa4\xe0\xae\xae\xe0\xae\xbf\xe0\xae\xb4\xe0\xaf\x8d</a></li><li class="interlanguage-link interwiki-te mw-list-item"><a href="https://te.wikipedia.org/wiki/%E0%B0%AC%E0%B1%80%E0%B0%AE%E0%B0%BE" title="\xe0\xb0\xac\xe0\xb1\x80\xe0\xb0\xae\xe0\xb0\xbe \xe2\x80\x93 Telugu" lang="te" hreflang="te" class="interlanguage-link-target">\xe0\xb0\xa4\xe0\xb1\x86\xe0\xb0\xb2\xe0\xb1\x81\xe0\xb0\x97\xe0\xb1\x81</a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%9B%E0%B8%A3%E0%B8%B0%E0%B8%81%E0%B8%B1%E0%B8%99%E0%B8%A0%E0%B8%B1%E0%B8%A2" title="\xe0\xb8\x81\xe0\xb8\xb2\xe0\xb8\xa3\xe0\xb8\x9b\xe0\xb8\xa3\xe0\xb8\xb0\xe0\xb8\x81\xe0\xb8\xb1\xe0\xb8\x99\xe0\xb8\xa0\xe0\xb8\xb1\xe0\xb8\xa2 \xe2\x80\x93 Thai" lang="th" hreflang="th" class="interlanguage-link-target">\xe0\xb9\x84\xe0\xb8\x97\xe0\xb8\xa2</a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Sigorta" title="Sigorta \xe2\x80\x93 Turkish" lang="tr" hreflang="tr" class="interlanguage-link-target">T\xc3\xbcrk\xc3\xa7e</a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%A1%D1%82%D1%80%D0%B0%D1%85%D1%83%D0%B2%D0%B0%D0%BD%D0%BD%D1%8F" title="\xd0\xa1\xd1\x82\xd1\x80\xd0\xb0\xd1\x85\xd1\x83\xd0\xb2\xd0\xb0\xd0\xbd\xd0\xbd\xd1\x8f \xe2\x80\x93 Ukrainian" lang="uk" hreflang="uk" class="interlanguage-link-target">\xd0\xa3\xd0\xba\xd1\x80\xd0\xb0\xd1\x97\xd0\xbd\xd1\x81\xd1\x8c\xd0\xba\xd0\xb0</a></li><li class="interlanguage-link interwiki-ur mw-list-item"><a href="https://ur.wikipedia.org/wiki/%D8%A8%DB%8C%D9%85%DB%81" title="\xd8\xa8\xdb\x8c\xd9\x85\xdb\x81 \xe2\x80\x93 Urdu" lang="ur" hreflang="ur" class="interlanguage-link-target">\xd8\xa7\xd8\xb1\xd8\xaf\xd9\x88</a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/B%E1%BA%A3o_hi%E1%BB%83m" title="B\xe1\xba\xa3o hi\xe1\xbb\x83m \xe2\x80\x93 Vietnamese" lang="vi" hreflang="vi" class="interlanguage-link-target">Ti\xe1\xba\xbfng Vi\xe1\xbb\x87t</a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://wuu.wikipedia.org/wiki/%E4%BF%9D%E9%99%A9" title="\xe4\xbf\x9d\xe9\x99\xa9 \xe2\x80\x93 Wu Chinese" lang="wuu" hreflang="wuu" class="interlanguage-link-target">\xe5\x90\xb4\xe8\xaf\xad</a></li><li class="interlanguage-link interwiki-yi mw-list-item"><a href="https://yi.wikipedia.org/wiki/%D7%A4%D7%90%D7%A8%D7%96%D7%99%D7%9B%D7%A2%D7%A8%D7%95%D7%A0%D7%92" title="\xd7\xa4\xd7\x90\xd7\xa8\xd7\x96\xd7\x99\xd7\x9b\xd7\xa2\xd7\xa8\xd7\x95\xd7\xa0\xd7\x92 \xe2\x80\x93 Yiddish" lang="yi" hreflang="yi" class="interlanguage-link-target">\xd7\x99\xd7\x99\xd6\xb4\xd7\x93\xd7\x99\xd7\xa9</a></li><li class="interlanguage-link interwiki-yo mw-list-item"><a href="https://yo.wikipedia.org/wiki/M%C3%A1%C3%A0d%C3%A1mid%C3%B3f%C3%B2" title="M\xc3\xa1\xc3\xa0d\xc3\xa1mid\xc3\xb3f\xc3\xb2 \xe2\x80\x93 Yoruba" lang="yo" hreflang="yo" class="interlanguage-link-target">Yor\xc3\xb9b\xc3\xa1</a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E4%BF%9D%E9%9A%AA" title="\xe4\xbf\x9d\xe9\x9a\xaa \xe2\x80\x93 Cantonese" lang="yue" hreflang="yue" class="interlanguage-link-target">\xe7\xb2\xb5\xe8\xaa\x9e</a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E4%BF%9D%E9%9A%AA" title="\xe4\xbf\x9d\xe9\x9a\xaa \xe2\x80\x93 Chinese" lang="zh" hreflang="zh" class="interlanguage-link-target">\xe4\xb8\xad\xe6\x96\x87</a></li></ul>\n\t\t<div class="after-portlet after-portlet-lang"><span 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