Editing Insurance (section)

===Methods of insurance===
According to the study books of The Chartered Insurance Institute, there are variant methods of insurance as follows:
# Co-insurance – risks shared between insurers (sometimes referred to as "Retention")
# Dual insurance – having two or more policies with overlapping coverage of a risk (both the individual policies would not pay separately – under a concept named contribution, they would contribute together to make up the policyholder's losses. However, in case of contingency insurances such as life insurance, dual payment is allowed) 
# Self-insurance – situations where risk is not transferred to insurance companies and solely retained by the entities or individuals themselves
# Reinsurance – situations when the insurer passes some part of or all risks to another Insurer, called the reinsurer