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INSURANCE This article is about the risk management method. For insurance in blackjack, see  Blackjack . An advertising poster for an insurance company from ca. 1900-1918 depicts an armoured knight. Financial market participants Credit unions Insurance companies Investment banks Investment funds Pension funds Prime brokers Trusts Finance Financial market Participants Corporate finance Personal finance Public finance Banks and banking Financial regulation Fund governance Insurance  is a means of protection from financial loss. It is a form of  risk management primarily used to  hedge  against the risk of a contingent, uncertain loss. An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively sm...