3. Behind the stumps, MS Dhoni is even faster than Usain Bolt.
However, just as Mr. Adam is able to buy an insurance policy and is paying to his insurer, a lot of other people in thousands are also doing the same thing. Any one of these people who are insured by the insurer is referred to as insured. Normally, most of these people will never have any form of accidents and hence there will be no need for the insurer to pay them any form of compensation.
If Mr. Adam and a very few other people has any form of accidents/losses, the insurer will pay them based on their policy.
It should be noted that the entire premiums paid by these thousands of insured is so much more than the compensations to the damages/losses incurred by some few insured. Hence, the huge left-over money (from the premiums collected.
0 comments:
Post a Comment