hello, my name is vic schumacher and i'm withhpe financial services. i'm an insurance broker and someone asked me how do insurance companieswork? that's a pretty generalized question. let's go back to the idea of insurance firstof all. insurance is nothing more than replacing an unknown with a sense of security. insurancecompanies try to make you feel more comfortable. in doing so, you will pay them a premium,a certain dollar amount, so as to help protect something for a period of time. the insurancecompanies will ask you how long do you want this protection to last, how many months orhow many years. we're talking very generically here, and then you will tell them i want itto last, let's just say five years. and the value of what you are trying to protect isa certain dollar amount. they in turn will
come back to you and say the odds of somethinghappening are whatever they are and they will charge you a certain amount in the event thatthis casualty occurs. insurance companies work to give you peace of mind and security.that's how insurance companies work. my name is vic schumacher, the company is hpe financialservices.