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 small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.

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Alabama () is a state in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama is the 30th largest by area and the 24th-most populous of the U.S. states. With a total of 1,500 miles (2,400 km) of inland waterways, Alabama has among the most of any state.Alabama is nicknamed the Yellowhammer State, after the state bird. Alabama is also known as the "Heart of Dixie" and the "Cotton State". The state tree is the longleaf pine, and the state flower is the camellia. Alabama's capital is Montgomery. The largest city by population is Birmingham, which has long been the most industrialized city; the largest city by land area is Huntsville. The oldest city is Mobile, founded by French colonists in 1702 as the capital of French Louisiana. Greater Birmingham is Alabama's largest urban economy, its most populous urban area, and its economic center.From the American Civil War until World War II, Alabama, like many states in the southern U.S., suffered economic hardship, in part because of its continued dependence on agriculture. Similar to other former slave states, Alabamian legislators employed Jim Crow laws to disenfranchise and otherwise discriminate against African Americans from the end of the Reconstruction Era up until at least the 1970s. Despite the growth of major industries and urban centers, white rural interests dominated the state legislature from 1901 to the 1960s. During this time, urban interests and African Americans were markedly under-represented. Following World War II, Alabama grew as the state's economy changed from one primarily based on agriculture to one with diversified interests. The state's economy in the 21st century is based on management, automotive, finance, manufacturing, aerospace, mineral extraction, healthcare, education, retail, and technology.

Source: https://en.wikipedia.org/