insurance

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Related to insurer: life insurance, reinsurer

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 ?
But the way things stand, the courts equate an insurer of wounding and lethal products with a priest who hears the sacramental confession of a serial murderer.
The "common interest" doctrine is the key to whether an insurer is entitled to receive privileged communications between a policyholder and defense counsel.
A statement signed under penalties of perjury that the foreign insurer or reinsurer is a treaty resident and qualities for benefits under the pertinent treaty's limitation-on-benefits article.
However, the insurers are bracing themselves for the next court round.
What insurers do not consider is the physician's reputation and capacity to earn a living as a health care provider in today's climate?
In the battle for market share, insurers often find that all they've gained is a growing book of underpriced risk.
The court noted that three courts have examined the right of an assignee to sue an insurer. The Third Circuit held that the statutory list of parties is exclusive and assignees may not sue under Section 1132(a)(1)(B).
Insurers have been slow to explore RFID, but Donald Light, a senior analyst with Celent, said there's good reason for that.
Many insurers have opted to pull out of the market for new mortgage loans and only refinance existing ones.
So, what can disability insurers do to avoid litigation and the potential for huge punitive damage awards?
However, these treaties do not typically grant such exemption merely because a foreign insurer is a resident of that foreign country.
The insurance policy provides that the insurer will indemnify the <begin strikethrough>lessor<end strikethrough> [use either "insured" or "lessor/ lessee" to be consistent with paragraph 35] for its loss (i.e., the insurer does not provide a repair service).