Wikipedia

Finance – Wikipedia

Academic discipline studying businesses and investments

Finance is the study of money and how it is used. Specifically, it deals with the questions of how an individual, company or government acquires the money needed – called capital in the company context – and how they then spend or invest that money.[1]

Core financial theories can largely be divided into the following categories: financial economics, mathematical finance and valuation.

In the context of institutions, finance is often split into the following major categories: investment management, corporate finance, personal finance and public finance.

At the same time, finance is about the overall “system”
[2]
– i.e. the financial markets that allow the flow of money, via investments and other financial instruments, between and within these areas;
this “flow” is facilitated by the financial services sector.
A major focus within finance is

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Insurance – Wikipedia

An advertising poster for a Dutch insurance company from c. 1900–1918 depicts an armoured knight.

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.

An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or as a policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship.

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