insurance

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Insurance

Guarding against property loss or damage by making payments in the form of premiums to an insurance company, which pays an agreed-upon sum to the insured in the event of loss.

Insurance

A contract between a client and a provider whereby the client makes monthly payments, called premiums, in exchange for the promise that the provider will pay for certain expenses. For example, if one purchases health insurance, the provider will pay for (some of) the client's medical bills, if any. Likewise in life insurance, the provider will give the client's family a certain amount of money when the client dies. The insurance company spreads the risk of any one expense by pooling the premiums from many clients. See also: Takaful.

insurance

a method of protecting a person or firm against financial loss resulting from damage to, or theft of, personal and business assets (general insurance), and death and injury (life and accident insurance). Insurance may be obtained directly from an INSURANCE COMPANY or through an intermediary such as an INSURANCE BROKER/AGENT. In return for an insurance premium the person or firm obtains insurance cover against financial risks. See ASSURANCE, COST, INSURANCE AND FREIGHT.

insurance

a method of protecting a person or firm against financial loss resulting from damage to, or theft of, personal and business assets (general insurance), and death and injury (life and accident insurance). Insurance may be obtained directly from an INSURANCE COMPANY or through an intermediary such as an INSURANCE BROKER/AGENT. In return for an insurance premium, the person or firm obtains insurance cover against financial risks. The term assurance is frequency used interchangeably with that of insurance to describe certain kinds of life insurance. See RISK AND UNCERTAINTY.

insurance

A commercial contract agreeing to compensate one for loss in the event of specifically named or described risks.

References in periodicals archive ?
If you want to tell me, where is the hue and cry from the hundreds of thousands of people who are living in streets and tents because the insurance companies didn't pay their claim?
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While insurance companies provide financial support in times of catastrophe, State Farm Mutual Funds are not insured by the Federal Deposit Insurance Corp.
Active within the insurance industry, Mitchell has served as chairman of the National Association of Independent Insurers and the Property/Casualty Insurance Council, and as president of the Pennsylvania Association of Mutual Insurance Companies.
Co-Operative Insurance Companies (VT)/18686/'BBBq';
The reality is that life insurance companies must redefine the very essence of what and how they do business.
Lawmakers came close to establishing a degree of insurer accountability with the passage of a law that would have allowed innocent crash victims to sue at-fault drivers' insurance companies for stonewalling valid claims, but the industry shelled out about $50 million to dupe voters into rejecting the law.
Insurance companies that are considering investment in voice/data convergence solutions in the next 6 months
Nearly one hundred years later, Protective Life Insurance Company is one of the nation's leading insurance companies, providing financial security to individuals and families across the country through a broad portfolio of life and specialty insurance and investment products.
Although there are serious economic challenges today in many of the Asian markets, the rapid change taking place in this region creates new and special needs for insurance companies and, therefore, significant opportunities for reinsurance companies.
Insurance companies have access to increased protection for employee dishonesty fraud and other related losses under a newly-enhanced product introduced today by Travelers.
In 1994, the total profit of all of Indonesia's insurance companies was 568 billion rupiah, about $258.

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