Professional liability insurance: It is coverage against breaching the duty of the profession such as negligence, error, oversight or default. Vehicle insurance: It is one of the most popular types of insurance that covers the damage to vehicles that arise from traffic accidents, fires, thefts, and others. Transferred Money Insurance: It is insurance that covers the risks of stealing or losing money when moving it from different places, such as moving it between the bank’s branches or between companies and banks and others. Product Liability Insurance: covers risks related to legal liability as a result of injury to individuals or property that occurs as a result of the products provided by the insured. Work Injury Insurance: covers the costs of work and employee injury injuries, which covers medical, legal and compensatory expenses. Personal accident insurance: This type of insurance covers the risks of personal accident and provides compensation in the event of a person’s death or disability due to injury in an accident occurring anywhere in the world.
Insurance has been divided in terms of coverage into 3 main types are (1) general insurance (2) health insurance (3) protection and savings insurance.ĭifferent types of insurance have arisen from these types, including:
Therefore, insurance varies with a variety of potential risks. The executive regulations of the Insurance Companies Control Law were defined as “shifting the burden of risks from the insured to the insurance companies” and the insurance aims from “returning the insured to his financial position immediately before the loss.” And the contemplative of the insurance market finds there are different types of insurance, all of which aim to cover and offset against potential risks, so any risk can be measured, often it can be insured.
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