insurance · financial
Ask Prometheusan arrangement that provides assistance after economic loss occurs, maintained by regular payments
Insurance (noun) means: an arrangement that provides assistance after economic loss occurs, maintained by regular payments. It emerges from security, help, keep, loss: security.safety and help.assistance interact through regular payments to maintain support in response to economic loss. In the EmergenceLexicon it sits at computed level 19, chaining down to the four foundations (space, time, energy, pattern).
Examples
- The National Flood Insurance Program paid $8.7 billion in claims after Hurricane Katrina inundated New Orleans in 2005. institutions
- A farmer in India pays 2% of crop value annually to the Pradhan Mantri Fasal Varshmaan Yojana to cover monsoon failure. economics
- After the 2011 Tōhoku earthquake, Tokyo Electric Power Company faced liabilities exceeding $15 billion, covered partly by nuclear liability pools. engineering
Emergence
from: security help keep loss occurs pay payment regular arrangement economic maintenance provide time
through: security.safety and help.assistance interact through regular payments to maintain support in response to economic loss
- ongoing financial protection
- structured risk pooling
- conditional resource transfer
Chain to foundations
full chain as text (349 steps)
- insuranceL19
- securityL6
- helpL5
- keepL5
- lossL2
- changeL1
- differenceL1
- occursL2
- payL18
- paymentL17
- regularL1
- arrangementL3
- economicL17
- maintenanceL14
- provideL8
- timeL0
Neighborhood
Concepts that depend on this one above; what it is built from below.
Relations
| is-a | security.safety | is-a |