Difference between revisions of "Insurance Definition"

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Indemnity – the insurance company indemnifies or compensates the insured within the case of sure losses only up to the insured's interest. By the late 19th century governments started to initiate nationwide insurance applications towards sickness and old age. Germany constructed on a practice of welfare applications in Prussia and [http://ck33261.tmweb.ru/user/AlannaDemers/ ck33261.tmweb.ru] Saxony that began as early as within the 1840s. In the 1880s Chancellor Otto von Bismarck introduced old age pensions, accident insurance and medical care that shaped the basis for Germany's welfare state.<br>Admitted insurance companies are those within the United States that have been admitted or [https://relysys-wiki.com/index.php/The_Hanover_Insurance_Group relysys-wiki.com] licensed by the state licensing company. 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