General insurance Uncertainty and Certainty

[Mataracy]

This sense of uncertainty surrounds everything we do in life. We do not know if we will pass an exam, if we will succeed in the job interview. If we will gain promotion and so. In a business sense uncertainty is no less important.

Almost everything the businessman does he does in an uncertain environment. If he invests in new machinery, will the output be what is expected? Will the employees be prepared to work with it? What is the delivery of parts situation? If he launches a new product will it sell as expected? Will a new bonus scheme for employees, avoid a threatened strike? If he builds a new factory will it be burnt Dow Will thieves steal his finished products from the warehouse?

In a few cases he knows, with certainty, what the future holds. He knows that if he reduces the number of machines used, his fuel bill will come down. If he employs four new people, he knows that his payroll will increase. Most of his activities, however, still involve him in venturing forward in this atmosphere of uncertainty.

It is valuable that we recognize, at this early stage the omnipresent nature of uncertainty and that, faced with uncertainty of life,both personal and business continuea day by day.

 

[uforwealth]

Thank you for the write up.
Indeed, we are living in the world of uncertainty. If we invest our hard-earned money in a business, we don't know what will become of that business. Whether the business will thrive or not is unpredictable . It is not certain that we will make profits.
That is the reason why we should insure everything if we can.

 

[btaliat]

In fact, the life will live is uncertain. That's why a musician, Akon, said in one of his songs that we are living on a borrowed lives. The uncertainty about life is the only thing that makes insurance very vital element for us in order to bear the risk that may happen in the course of doing our business.

 

[Wisdom01]

We are living in the world of uncertainty and we can't be even too sure about something , because of how things changes and also varies too , and one thing is constant in life and that exactly is change , so in insurance there is always uncertainty we can't be too sure if the risk would happen

 

[Mataracy]

In fact, the life will live is uncertain. That's why a musician, Akon, said in one of his songs that we are living on a borrowed lives. The uncertainty about life is the only thing that makes insurance very vital element for us in order to bear the risk that may happen in the course of doing our business.

You are write with the statement made bro. Since no body even know may be one will be alive tomorrow or not that's while many people need to insured ones life or engage in written Will because of u certainty that is bound to happen at any moment. One should not be ignorance of what can happen at any time.so risk is inevitable.

 

[btaliat]

We are living in the world of uncertainty and we can't be even too sure about something , because of how things changes and also varies too , and one thing is constant in life and that exactly is change , so in insurance there is always uncertainty we can't be too sure if the risk would happen

Your point is the reason why some people do not want to insure with insurance company. There are some risks that won't happen except as a result of careless from people. The only insurance that is certain to happen is the life insurance otherwise called assurance. Others may not likely happen, which means it will just be a bonus to the insurance company.

 

[Wisdom01]

Your point is the reason why some people do not want to insure with insurance company. There are some risks that won't happen except as a result of careless from people. The only insurance that is certain to happen is the life insurance otherwise called assurance. Others may not likely happen, which means it will just be a bonus to the insurance company.

And The person can't make it happen because he or she would be caught at the end of the day , the highest the person could do is to pick the risk that have higher chance of occuring which is still uncertain , them insure against such risk too , these are some of the things the person would need to do

 

[Mandy96]

I have been wanting to ask a particular question about insurance and my question is about certainty. Does anyone think there is 100% percent certainty in insurance. I mean what if the insurance company itself goes bankrupt. Will the insurance contract between the insurer and the insured still hold? Will the insurance company still fulfill their agreement?

 

[Lens1000]

Our world is not certain because we can't predict what will happen the next minutes. More often, we go into business with uncertainty, we are only certain of few factors. Like, if we employ more experienced staffs, productivity will increase. The certain situation do not outweigh the uncertain situations we meet everyday.