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MY Insurance Agency
What is Insurance?
In short, insurance is risk sharing. It is the sharing of fortuitous
losses by transferring certain risks to insurers, who agree to
indemnify the insureds, and to provide other pecuniary benefits,
for losses arise from certain occurrence. Ancient Chinese
merchants sailing their cargoes down rivers a thousand years
ago had applied the same principle by placing a portion of their
merchandise on each of a number of boats, instead of
entrusting their entire fortune to their own boat.
Insurance should never be the only measure to protect against
loss. In fact, it should be the last phase of a broad area of loss
preventive measures, after steps such as risk identification, risk
avoidance, etc. In all insurance agreements, insurance carriers
expect insureds to exercise basic, common sense risk
management as a condition to providing coverage.
In short, insurance is risk sharing. It is the sharing of fortuitous
losses by transferring certain risks to insurers, who agree to
indemnify the insureds, and to provide other pecuniary benefits,
for losses arise from certain occurrence. Ancient Chinese
merchants sailing their cargoes down rivers a thousand years
ago had applied the same principle by placing a portion of their
merchandise on each of a number of boats, instead of
entrusting their entire fortune to their own boat.
Insurance should never be the only measure to protect against
loss. In fact, it should be the last phase of a broad area of loss
preventive measures, after steps such as risk identification, risk
avoidance, etc. In all insurance agreements, insurance carriers
expect insureds to exercise basic, common sense risk
management as a condition to providing coverage.
Why use Insurance?
The purpose of insurance is to restore an accident victim back to
the condition prior to the accident, and to offer him the peace of
mind knowing he would be made whole should an accident
occur. We have a strong desire for financial protection against
unforeseeable accidents that threaten our family's financial
security. Although many risks cannot be insured against,
modern insurance, when purchased adequately, can protect
against most of the risks we face on a daily basis.
The purpose of insurance is to restore an accident victim back to
the condition prior to the accident, and to offer him the peace of
mind knowing he would be made whole should an accident
occur. We have a strong desire for financial protection against
unforeseeable accidents that threaten our family's financial
security. Although many risks cannot be insured against,
modern insurance, when purchased adequately, can protect
against most of the risks we face on a daily basis.
What type of risks are insurable?
We have a strong desire for financial protection against
unforeseeable accidents that threaten our family's financial
security. Although many risks cannot be insured against,
modern insurance, when purchased adequately, can protect
against most of the risks we face on a daily basis. As a rule of
thumb, speculative or dynamic risks are not insurable, while
almost all insurance products available today insure against
pure or static risks.
We have a strong desire for financial protection against
unforeseeable accidents that threaten our family's financial
security. Although many risks cannot be insured against,
modern insurance, when purchased adequately, can protect
against most of the risks we face on a daily basis. As a rule of
thumb, speculative or dynamic risks are not insurable, while
almost all insurance products available today insure against
pure or static risks.
The materials on this website are meant to
be informative in nature. Due to the ever
changing and varying state laws, and the fact
some insurers offer coverage in slightly
different forms from the Insurance Services
Office (ISO) standard forms, we cannot
guarantee the accuracy of the materials on
this page.
be informative in nature. Due to the ever
changing and varying state laws, and the fact
some insurers offer coverage in slightly
different forms from the Insurance Services
Office (ISO) standard forms, we cannot
guarantee the accuracy of the materials on
this page.