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 ?
8 percent, and for other types of insurance 113,319 policies.
That there are more types of insurance than health and life.
To ease such opposition, the FSA plans to check if any serious problems occur in banks' sales of insurance products during the two years when they are able to sell savings-based insurance products from December 2005 to December 2007, when all types of insurance products will become available at banks, they said.
The new tracks developments in all types of insurance coverage including commercial and general, life and health, property and casualty, auto, homeowner's, title, disability, workers' comp and reinsurance.
All types of insurance including aviation, terrorism, property and lost business would be facing claims as a result of the disaster.
The agency now specializes in group benefit plans and individual financial counseling and provides several other types of insurance programs through its 16 offices statewide and 200 employees.
Regulators paint a picture of chaos in transportation, shipping, health care, communications and even the insurance industry itself should Lloyd's become insolvent, not to mention higher prices for the more exotic and riskier types of insurance Lloyd's is famous for.
Overall, in a market in which around 30% of new premiums for life insurance were distributed by banks in 2012, across the 47 banks and other lending institutions researched in Mexico, Finaccord's research identified 164 bancassurance distribution initiatives for the various types of insurance investigated.
Request For Proposal: provide several types of insurance and ancillary services
Different types of insurance would have different deductibles assessed.
Throughout the marine insurance industry, there are three typical types of insurance coverage:
Clarkson Insurance Agency understands the time it takes to review, compare and shop for these types of insurance.