Caribbean insurance tenders

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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 or uncertain loss. An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or an underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. Policyholder and insured are often used as but are not necessarily synonyms, as coverage can sometimes extend to additional insureds who did not buy the insurance. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) 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. Furthermore, it usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured, or their designated beneficiary or assignee. The amount of money charged by the insurer to the policyholder 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.

The Caribbean is a region of the Americas that comprises the Caribbean Sea, its surrounding coasts, and its islands (some of which lie within the Caribbean Sea and some of which lie on the edge of the Caribbean Sea where it borders the North Atlantic Ocean). The region lies southeast of the Gulf of Mexico and of the North American mainland, east of Central America, and north of South America. The region, situated largely on the Caribbean Plate, has more than 700 islands, islets, reefs and cays (see the list of Caribbean islands). Countries in Caribbean are Antigua, Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts, Nevis, Saint Lucia, Saint Vincent, the Grenadines, Suriname, Trinidad and Tobago.