Insurance is a financial arrangement that provides protection against financial loss or risk. It involves a contract, known as a policy, between an individual or entity and an insurance provider, whereby the insurer agrees to compensate the insured for specified losses in exchange for regular premium payments. The primary purpose of insurance is to offer financial security and peace of mind by protecting against unforeseen events such as accidents, illness, natural disasters, or liability claims.
Insurance can take various forms, including life insurance, health insurance, property insurance, auto insurance, and liability insurance, each designed to cover specific risks. When an insured event occurs, the policyholder can file a claim to receive compensation based on the terms of the policy. This collective pooling of risk among many policyholders allows the insurance company to manage finances and payouts effectively while helping individuals and businesses mitigate potential losses.
Muface is currently evaluating Nueva Mutua Sanitaria, the only bidder for providing healthcare to 8,000 Spanish officials overseas. The evaluation deadline has passed without clarity on whether Nueva Mutua meets…