Insurance

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.

The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. The insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risk, especially if the primary insurer deems the risk too large for it to carry.

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Scholarships for Insurance Majors

Bullet name award deadline Link
 

Siebel Scholars Program

Siebel Scholars Foundation

$35,000 Varies See Details
 

Siebel Scholars Program

Siebel Scholars Foundation

award

$35,000

deadline

Varies
See Details
 

Vilas Scholarship

St. Lawrence University

$32,000 January 10, 2023 See Details
 

Vilas Scholarship

St. Lawrence University

award

$32,000

deadline

January 10, 2023
See Details
 

Max Christianson Division of Business and Computer Science Scholarship

Union College, Nebraska

$25,000 Varies See Details
 

Max Christianson Division of Business and Computer Science Scholarship

Union College, Nebraska

award

$25,000

deadline

Varies
See Details
 

Huizenga Business Innovation Academy Scholarship

Nova Southeastern University

$20,000 Varies See Details
 

Huizenga Business Innovation Academy Scholarship

Nova Southeastern University

award

$20,000

deadline

Varies
See Details
 

Rath Foundation Academic Scholarship

University of Oklahoma, Michael F. Price College of Business

$20,000 February 01, 2023 See Details
 

Rath Foundation Academic Scholarship

University of Oklahoma, Michael F. Price College of Business

award

$20,000

deadline

February 01, 2023
See Details
 

Boyer Fellowship

University of Arkansas

$12,500 February 01, 2023 See Details
 

Boyer Fellowship

University of Arkansas

award

$12,500

deadline

February 01, 2023
See Details
 

Schmitt Foundation Scholarship in Business

The College at Brockport - State University of New York

$10,520 February 15, 2023 See Details
 

Schmitt Foundation Scholarship in Business

The College at Brockport - State University of New York

award

$10,520

deadline

February 15, 2023
See Details
 

Mas Family Scholarship

Mas Family Scholarships

Up to $10,000 Varies See Details
 

Mas Family Scholarship

Mas Family Scholarships

award

Up to $10,000

deadline

Varies
See Details
 

Christine and Clarence Day Business Scholarship

University of Mississippi

$10,000 Varies See Details
 

Christine and Clarence Day Business Scholarship

University of Mississippi

award

$10,000

deadline

Varies
See Details
 

3M Business Development Fellowship

University of Minnesota, Carlson School of Management

$10,000 Varies See Details
 

3M Business Development Fellowship

University of Minnesota, Carlson School of Management

award

$10,000

deadline

Varies
See Details