What does insurance mean in simple terms?

Insurance is an institution or organization that charges money or premiums to protect people or organizations against many types of risks or infrequently occurring probabilities. These institutes or organizations may offer policies for motor, life, health, or home in which loss or grace is given against the premium paid in case of any malpractice, natural or human calamity. These institutions or organizations preserve equal protection and security in the minds of people by providing them with protection from threats and insecurity in various aspects and positions of life

Names of some of the best insurance companies in the world

Some good quality insurance company names may have some feel, but this list includes some famous and trusted names:

• 1. AIG (American International Group)
• 2. Allianz
• 3. AXA
• 4. Berkshire Hathaway (GEICO)
• 5. Ping An Insurance (China)
• 6. Prudential Financial
• 7. Zurich Insurance Group
• 8. MetLife
• 9. Swiss Re
• 10. Chubb Limited

They may provide different services from each other and operate in different regions. This company may have certain rights that help protect people against permanent or predictable events or temporary casualties.