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It touches virtually every facet of the lives of individuals and the operations of enterprise. Underwriters at insurance companies specialize in assessing the risks confronting people and businesses around the world. These adverse events can range from a fire that destroys a family's home, to a liability lawsuit that forces a corporation to pay hefty legal defense fees, settlements or judgments, to medical expenses incurred by an employee who is injured on the job. By doing so, the insured party purchases the insurer's contractual promise that if a certain adverse event occurs, the insurer will pay, enabling the insured to protect assets from the financial impact of the event, or at least lessen the resulting financial burden. Individuals and businesses pay premiums to transfer their risks to insurance companies. The insurance industry is in the business of assuming and managing the numerous and diverse risks that impact our world. Risk is everywhere. They sell policies directly to consumers
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