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 ?
Property/Casualty Writers list, American Registry seconded the honor and added MGA Insurance Group to the "Registry of Business Excellence (TM)".
The ICR has been upgraded to "bbb-" from "bb+" for FPIC Insurance Group, Inc.
Headquartered in San Jose, Citation Insurance Group is a regional multiple-line specialist operating in tightly-focused segments of the workers' compensation and commercial property and casualty marketplace, through its three insurer subsidiaries, Citation's common shares are traded on the NASDAQ National Market System, symbol: CITN.
This rating affirmation applies to 14 members of the Transamerica Insurance Group.
To learn more about Northeast Bank and Northeast Bank Insurance Group, Inc.
The PMA Insurance Group, a multi-lines property & casualty insurer is known for service excellence and high levels of customer satisfaction.
The new Farmers Mobile Command Center bus was chosen as the catastrophe center-point for handling claims and servicing our customers," explained Frank Soldano, state executive, Farmers Insurance Group, Kansas.
The PMA Insurance Group (PMA) announced today that is has entered into an agreement with Midwest Insurance Companies (Midwest), in which Midwest will underwrite workers' compensation policies in California utilizing PMA's filed workers' compensation forms and rates.
Ciofani was Vice President--Commercial Markets, a position he has held since he joined The PMA Insurance Group in 2000.
has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of "aa-" of Admiral Insurance Group (Wilmington, DE) and its property/casualty members.
Fund American), or its insurance subsidiaries OneBeacon Insurance Group (OneBeacon), Folksamerica Reinsurance Company (Folksamerica) and Sirius International Insurance Corporation (Sirius International).

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