In accordance with study books of The Chartered Insurance Institute, there are the following types of insurance:
1. Co-insurance – risks shared between insurers
2. Dual insurance – risks having two or more policies with same coverage
3. Self-insurance – situations where risk is not transferred to insurance companies and solely retained by the entities or individuals themselves
4. Reinsurance – situations when Insurer passes some part of or all risks to another Insurer called Reinsurer
Source : Wikipedia.org
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