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Life and Casualty Insurance
As far as many risks for person's life and property exist, and as long as a person can damage a third party, insurance system will subsist. Insurance roughly speaking is relations between assurer and assured on the protecting of property interest of individual or juridical party at occurrence of contingency at the expense of insurance founds. Insurance conception is divided on life insurance, health insurance, property insurance, casual insurance, business insurance. Life insurance is a type of insurance which provides regular long-term relations between the insurer and the policy owner, where insurer agrees to pay out upon the occurrence of the insured individual's illness or death and the policy owner pays a stipulated fee. All risks which are not included in life insurance or property insurance can be included and covered by Casualty insurance.
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