The four main branches of insurance are:
(a) Marine Insurance
(b) Fire Insurance
(c) Life Insurance
(d) Accident Insurance
There is no real difference between the words 'insurance' and 'assurance', but in Britain it has become customary to use the word assurance when referring to life policies. The events being insured in life assurance will assuredly happen-for we all die, whereas in all other insurances we do not necessarily ever suffer a loss. This seems to be the reason for the word 'assured' in connection with life policies.
(a) Marine Insurance
(b) Fire Insurance
(c) Life Insurance
(d) Accident Insurance
There is no real difference between the words 'insurance' and 'assurance', but in Britain it has become customary to use the word assurance when referring to life policies. The events being insured in life assurance will assuredly happen-for we all die, whereas in all other insurances we do not necessarily ever suffer a loss. This seems to be the reason for the word 'assured' in connection with life policies.
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