A financial product where an individual or entity receives financial protection against losses from an insurance company in exchange for a fee (premium).
The regular payment an individual or business makes to an insurance company for an insurance policy.
Insurance that covers the loss or damage of ships, cargo, and any transport by which property is transferred.
A form of property insurance that covers damage and losses caused by fire.
The core insurance principle of spreading risk across a large number of people so that the financial impact of any single loss is manageable for the group.
The two Church of Scotland ministers who were the primary architects of the first actuarially sound life insurance fund in 1744.
The brilliant mathematician who provided the crucial statistical calculations that made the fund financially sustainable.
A contract where an insurer promises to pay a beneficiary a sum of money upon the death of the insured person, in exchange for regular premium payments.
The mathematical and statistical methods used to assess and price risk, based on the probability of future events.
A financial product that provides a series of regular payments to an individual, often for the rest of their life.
Insurance provided by for-profit companies to the general public, as opposed to a private fund for a specific group.
The Scottish Widows' Fund and Life Assurance Society, founded in 1815, was one of the first and most important commercial life insurance companies.
The visionary founder of The Equitable Life Assurance Society of the United States in 1859.
One of the most important and influential early American life insurance companies.
The major lines of insurance that grew during this period to cover the diverse risks of an industrializing nation.
The financial markets where long-term instruments like stocks and bonds are traded. The insurance industry became a key player in these markets.
New forms of insurance that emerged in the 20th century to cover the specific risks of modern life.
Large organizations, such as insurance companies and pension funds, that invest vast sums of money on behalf of others.
The financial markets where long-term instruments like stocks and bonds are traded.
Rules and laws established by government authorities to supervise and control an industry to ensure its stability and protect consumers.
Complex financial products that combine a traditional insurance component with an investment or savings element.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.