Insurance and Risk
It’s interesting to note how many academic subjects end up being used in practical applications without most people being aware of what they’re actually doing. For example, you can look at subjects like mechanical engineering for example; where people who drive cars have no idea what’s going on beneath the bonnet. Another similar subject, is finance, particularly in the world of insurance. Insurance is really all about managing some sort of risk. The formal disciple, called risk management, has evolved…