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.

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It was explained to us by an insurance firm that not only the insured/owner is not covered but also his wife, children and other extended members of his family.
That is why PhilHealth is drafting a memorandum of agreement with the PSA so the agency's statistics can be shared with the health insurance firm, Domingo said.
This means that private pension funds and insurance firms do not enjoy any state legislation, which is customary in most states, whereby state possibly discriminates in favor of its own enterprise.
In the second stage, after observing the amount of investment of all insurance firms, each insurance firm simultaneously chooses its quantity, which is denoted by [q.sub.i].
Summary: More than 50 insurance firms exist in Lebanon but 10, which are mainly owned by local banks, control around 80 percent of the market.
Saudi authorities -- keen to create jobs for a rapidly-growing population, cut reliance on oil receipts and limit state aid to firms and individuals after unpredictable events -- have licensed some 30 new insurance firms.
A survey of more than 400 organisations by insurance firm Royal & SunAlliance showed that 42% were oblivious to the fines they may face by failing to comply with the no-smoking law, which came into effect in Wales this month and is introduced in England in July.
The spokesperson said that Allianz had documents very much like Wilprop in place and that the insurance firm most likely would be found responsible for only one payment.
* Tunisia's Salim Insurance firm plans to raise its capital from four to 10m Tunisian dinars ($7.47m) before the end of March 2003.
Perryman says it was his good credit rating and background in the business that eventually convinced one insurance firm to issue him a small bond.

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