Difination of Insurance

human life is full of risk and uncertainty. Each and every step of lifeo of risks. we can cot eliminate risks .however . we can make provision for financial security against risks. Insurance is the means to get financial security against risks. Insurance is a way of reducing uncertainty of an event. Insurance is an investment , from which we get return only when certain loss uccured from priditerminded incident. Insurance has wide scope and area nowadays. So there is no single defifnition of insurance. Insurance can be defined from the viewpoints of several disciplines. The defination of insurance can be expressed from the viewpoints of law, economics history, sociology and risk theory. Insurance has been efined as a plan by which large number of people are associated themselves and transfer to shoulder of all , risks to attach andividuals.