* '''Definition of Insurance :'''
** Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.
=Market data - Insurance sector=
* Insurance and risk management is an immense global industry. In America alone, the insurance business employs about 2.5 million people<br>
* Life and health insurance in the United States will be about a $725 billion in gross revenues business in 2006, compared to only about $500 billion in 2002<br>
* U.S. life insurance firms hold about $3.8 trillion in assets<br>
* Personal lines comprise another vast sector of insurance. For example, private passenger automobile insurance will be about a $172 billion annual premium market in the U.S. for 2006<br>
* Homeowners insurance is about a $50 billion market<br>
* Property and Casualty insurance premiums will total about $450 billion in the U.S. for 2006
=Distribution of patents - Based on insurance type=