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
Goldman Sachs MBA FellowshipGoldman Sachs and Co. |
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award Up to $75,000 |
deadline Varies |
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Siebel Scholars ProgramSiebel Scholars Foundation |
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award $35,000 |
deadline Varies |
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Jesse Jackson Fellows - Toyota ScholarshipPUSH Excel |
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award Up to $25,000 |
deadline May 31, 2024 |
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Besio Family ScholarshipUniversity of Notre Dame |
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award $25,000 |
deadline January 01, 2025 |
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Huizenga Business Innovation Academy ScholarshipNova Southeastern University |
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award $20,000 |
deadline Varies |
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KMF Professional Excellence Scholarship ProgramKohlberg-Manacher Foundation |
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award $15,000 |
deadline June 01, 2024 |
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Women in Business - Miss America PageantMiss America Pageant |
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award Up to $10,000 |
deadline Varies |
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Christine and Clarence Day Business ScholarshipUniversity of Mississippi |
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award $10,000 |
deadline Varies |
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3M Business Development FellowshipUniversity of Minnesota, Carlson School of Management |
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award $10,000 |
deadline Varies |
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Philip Breitman Memorial ScholarshipUniversity of Wisconsin, Eau Claire - College of Business |
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award $8,900 |
deadline Varies |
Insurance Related Majors
- Business Administration, Management and Operations
- Business, Management, and Marketing
- Marketing
- Accounting and Business/Management
- Finance and Financial Management Services
- Accounting and Finance
- International Business
- Fashion Merchandising
- Human Resources Management and Services
- Entrepreneurial and Small Business Operations
- Business and Personal/Financial Services Marketing Operations
- Hospitality Administration/Management
- Real Estate
- Business
- Management Information Systems and Services
- Fashion Modeling
- Small Business Administration/Management
- Business/Managerial Economics
- Entrepreneurship/Entrepreneurial Studies
- Construction Management