What is 'Insurance'

Insurance is a contract , {displayed|symbolized|showed} with a policy, in which an individual or entity receives financial {safety|security|safeguard} or reimbursement against {deficits|loss|failures} from an insurance company. {The organization|The business|The corporation} pools clients' {dangers|hazards} to make payments more affordable for the {covered|covered by insurance}.

insurance policies are used to hedge against the risk of financial losses , both big and small that may result from damage to the insured or her property , or from liability for damage or injury caused to a third party .