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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

insurance

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

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
11, 2001 attacks, this federal program and similar programs in other countries are still "crucial to the continued health and stability of the property terrorism insurance market."
Julian Enoizi, Pool Re chief executive, said:"These figures demonstrate the knowledge gap on terrorism insurance that UK businesses must address."
Very few small businesses buy terrorism insurance, which is usually sold as an add-on to property policies.
Carriers are structuring the policies as endorsements to standalone property terrorism insurance policies or as separate policies.
TRIA, a public-private partnership to safeguard the availability of commercial terrorism insurance, is not a corporate giveaway or a subsidy, nor is it a mechanism for supplanting the private sector in the insurance marketplace.
Moreover, the new wave of suicide attacks has created a climate of fear not only among businesses but also among Lebanese citizens who have started resorting to passive war and terrorism insurance plans to secure the well-being of their families in case they die.
The Congresswoman has fought for Terrorism Insurance for over 10 years, helping Congress pass the first TRIA in 2002.
Marsh, along with Guy Carpenter, submitted the comments in response to a request for industry opinion on the availability and affordability of terrorism insurance. Marsh and Guy Carpenter are operating companies of Marsh & McLennan Companies Inc.
While some owners of high-value properties in major cities may face initial challenges obtaining terrorism insurance coverage compared with most policyholders nationwide, they generally have reported that they could meet current coverage requirements through a variety of approaches.
Hawke, for one, isn't losing sleep over not having terrorism insurance.
However, its conclusions leave the administration some leeway to support extending some sort of federal presence in the terrorism insurance market.

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