Insurance plays an essential role in our lives, preventing us from burning a hole in our pockets. Its basic function is to compensate insured people for damages and losses. In return for this service, insurers use the funds from policy premiums for capital formation in the market. These funds are used to support insurers’ operations&hellip

General insurance is a type of non-life insurance that is included in homeowner and automobile policies. It pays out on losses when a person or property is destroyed or damaged. Typically, a policy is for a single event, such as a car accident. It can also cover personal belongings, such as jewelry and watches. It&hellip