insurance

(redirected from Insuring Agreements)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.

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 ?
Aside from issues of policy construction and interpretation, an ultimate finding of coverage in either of these cases could gravely impact the availability of insurance coverage for those situations intended to be covered under a Computer Fraud insuring agreement (that is, a hacking situation whereby the fraudulent input of data or computer programs into an insured's computer system directly causes the debit of money from the insured's account) or a Funds Transfer insuring agreement (that is, when a fraudulent instruction is issued to a financial institution, purportedly by the insured, but in reality unbeknownst to and without the consent of the insured).
The insuring agreement in the Columbia policy provides that the policy applies to injury taking place during the policy period unless, instead of insuring injury taking place during the policy period, the Lexington policy insures occurrences taking place during the policy period, which it does.
The first insuring agreement declares the insurer will pay for a loss when the insured becomes legally obligated to pay for a website publishing liability.
Many carriers have become skilled at minimizing and cleaning up their forms and insuring agreements.
This definition was put on the CGL form in an attempt to define the scope of advertising activities and what triggers coverage under the personal and advertising injury insuring agreement.
The insuring agreement also defines who is considered an insured under the policy.
Under the Coverage A insuring agreement, the insurer agrees to pay those sums that the insured becomes legally obligated to pay as damages because of bodily injury or property damage to which the insurance applies.
The court ruled that despite the commercial liability language of the policy before it, given the language of the statute, the fireworks insuring agreement was in fact a suretyship agreement, and an injured party had a right of direct action against the surety.
The insuring agreement typically specifies covered activity with the following language: "Such dishonest and fraudulent acts must be committed by the Employee with the manifest intent: (a) to cause the Insured to sustain a loss; and (b) to obtain a financial benefit for the Employee or another person or entity.
The insuring agreements of the contractors' E&O policy are somewhat more limited.
which I think is a superior product, with eight insuring agreements that allows coverage to be customized based on an agency's unique needs.
Several of the insuring agreements offer coverage for loss of or damage to money, securities, or other property.