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An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
Insurance Economics is a research programme set up by the Geneva Association, also known as the International Association for the Study of Insurance Economics.. It is dedicated to making an original contribution to the progress of insurance through promoting studies of the interdependence between economics and insurance, to highlight the importance of risk and insurance economics as part of ...
This page is concerned with the stochastic modelling as applied to the insurance industry. For other stochastic modelling applications, please see Monte Carlo method and Stochastic asset models. For mathematical definition, please see Stochastic process. "Stochastic" means being or having a random variable.
Coverage type. What it covers. Liability. This coverage steps in if you or a listed driver on your policy causes property damage and/or injuries to another person caused by an accident in which ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Insurance agreement: Outlines exactly what you and your insurer have agreed to regarding coverage, including terms, conditions and exclusions. Definitions: defines any key terms used in the policy.
Basic Economics is a non-fiction book by American economist Thomas Sowell published by Basic Books in 2000. The original subtitle was A Citizen's Guide to the Economy , but from the third edition in 2007 on it was subtitled A Common Sense Guide to the Economy .
Public economics examines the design of government tax and expenditure policies and economic effects of these policies (e.g., social insurance programs). Urban economics, which examines the challenges faced by cities, such as sprawl, air and water pollution, traffic congestion, and poverty, draws on the fields of urban geography and sociology.