insurance

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Related to insurer: life insurance, reinsurer

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 ?
businesses should also be aware that if their foreign parent purchases insurance on their behalf from a foreign insurer, those premiums may also be subject to the FET.
While consumers have the ability to shop around for better premiums, insurers improve their standing by investing in the bond market.
A CLASS 2 INSURER that is not a long-term insurer must file a copy of its statutory financial statements and its financial return with the registrar within the six-month period following the close of the financial year to which the statements relate.
What insurers do not consider is the physician's reputation and capacity to earn a living as a health care provider in today's climate?
But, in their Orwellian zeal, insurers are following the same costly, not to mention silly, path travelled by unthinking federal bureaucrats who, for example, in recent years issued regulations on the number of inches required between ladder rungs or the shape of stuffed teddy bears' ears.
While very few customers surveyed in the report expressed outright dissatisfaction over either the type or quantity of interactions they have with insurers or agents, almost 40 percent of non-life insurance customers switched providers in the last five years.
collateral requirements is directly at odds with the regulatory objectives of adequate capacity, affordable coverage, market stability, and most importantly, insurer solvency.
This permits the foreign insurer to treat its RPII as effectively connected with a U.
Principal Mutual Life Insurance Company, the 9th Circuit revisited the reasons courts allow tort remedies, including punitive damages, against insurers who deny disability claims in bad faith.
4371 imposes a tax (insurance excise tax) on each policy of insurance or reinsurance issued by a foreign insurer or reinsurer for risks located in the U.