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by Cristina Nuta -

Insurance is a legal contract whereby one party, the insurer, undertakes to pay to the other party, the insured, a certain specified amount of money in the event of the materialization of a certain insured risk. The insured party pays an amount of money, the premium, which is the price of insurance. If the insured suffers a loss due to an event stipulated in the insurance policy he is entitled to compensation. He should raise claims with the insurer and to that end he must read more...

Tags: insurance, contract, legal, risk, money

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