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 ?
In some ways physician malpractice insurance is much like car insurance in that the longer a physician goes without a claim the lower his premiums are likely to be.
Although a few states do require CPA firms to purchase malpractice insurance, that requirement usually does not apply to firms with a net worth of at least $1 million, a requirement that firms with only a few principals can usually meet.
Attempts to explain problems in the medical malpractice insurance industry typically examine the influence of exogenous factors on the performance of the member insurers.
Practicing without nursing malpractice insurance can be as risky as driving without auto insurance.
Lacy also said a repeal of tort reform could result in medical malpractice insurance carriers leaving Arkansas.
Costs of malpractice insurance are rising because insurers are facing increased losses, both from investments and from litigation.
It is indeed a sad state of affairs when we find all too many physicians are in need of insurance protection from sexual assault claims almost as much as they are in need of medical malpractice insurance coverage.
One of the requirements of maintaining an active medical license is to carry malpractice insurance, Mr.
In discussing the various plans before the Oregon Legislature to address the health care crisis, the question of how to deal with the parallel emergency in malpractice insurance repeatedly comes to the fore.
As a result, prices for malpractice insurance are dropping, but they are unlikely to soften indefinitely in a strongly competitive cycle; instead, insurers are lowering prices only to the point where they continue to be profitable.
Input from malpractice insurance carriers that effective medication system safety initiatives can help curb malpractice rates and protect physicians can be a very effective message.