Insurance Products like cover are the heart of Insurer life:
Definition and list of Insurance Companies in Kenya
Insurance companies in kenya: Insurance is a kind of risk management basically used to
finance against the risk of uncertain occurrence. It is translated as equitable
transfer of a loss from one party to another in exchange for payment.
Below are definitions of some languages used in day to day
insurance business:-
Now, this is the contract, which
explains or details the conditions and circumstances under which you as the
insured will benefit.
Policy Holder
This is the person buying the
insurance policy.
Indemnity
Simply explained as Compensation
Premium
When a certain risk has been
identified, the insurer set a certain amount to be charged for that coverage.
It is the amount you as an insured party pays every month or every year for
that particular risk to the insurance company
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