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 classic literature ?
Then the service began--rightly-considered, the most terrible, surely, of all mortal ceremonies--the service which binds two human beings, who know next to nothing of each other's natures, to risk the tremendous experiment of living together till death parts them--the service which says, in effect if not in words, Take your leap in the dark: we sanctify, but we don't insure, it!
Taken by an adult this powder would insure several hours of heavy slumber without danger to the sleeper.
Standard & Poor's--Standard & Poor's Ratings Services said in a report published today that it had refined its criteria related to bank account eligibility for structured financings in Japan to include the benefits of Japan's unique deposit insurance system, which insures the entire principal amount of certain liquid deposits ("Entirely Insured Deposits").
Comfort is taken from the fact that MBIA generally insures the regulated operating company and in most cases has a first mortgage on plant, property, or equipment such as transmission lines, which are of high value given the essentiality of the service provided.
This result was to be expected because the FHA generally insures the mortgages of borrowers who currently have few assets available for down payments and closing costs and who do not usually qualify for a mortgage with PMI.