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Definition of insurance
Thanks for using this online dictionary, we have been helping millions of people improve their use of the english language with its free online services. English definition of insurance is as below...
Insurance
(n.) The act of
insuring,
or
assuring,
against
loss or
damage
by a
contingent
event;
a
contract
whereby,
for a
stipulated
consideration,
called
premium,
one party
undertakes
to
indemnify
or
guarantee
another
against
loss by
certain
specified
risks.
Cf.
Assurance,
n., 6..
Lern More About Insurance
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Reinsurance
::
Reinsurance
(n.)
Insurance
a
second
time or
again;
renewed
insurance.
Assurance
::
Assurance
(n.)
Insurance;
a
contract
for the
payment
of a sum on
occasion
of a
certain
event,
as loss or
death..
Rate
::
Rate (n.) The class of a
merchant
vessel
for
marine
insurance,
determined
by its
relative
safety
as a risk, as A1, A2, etc..
Reinsurer
::
Reinsurer
(n.) One who gives
reinsurance.
Underwriter
::
Underwriter
(n.) One who
underwrites
his name to the
conditions
of an
insurance
policy,
especially
of a
marine
policy;
an
insurer..
Insurancer
::
Insurancer
(n.) One who
effects
insurance;
an
insurer;
an
underwriter.
Law
::
Law (n.)
Collectively,
the whole body of rules
relating
to one
subject,
or
emanating
from one
source;
--
including
usually
the
writings
pertaining
to them, and
judicial
proceedings
under them; as,
divine
law;
English
law; Roman law; the law of real
property;
insurance
law..
Underwrite
::
Underwrite
(v. i.) To
practice
the
business
of
insuring;
to take a risk of
insurance
on a
vessel
or the like.
Actuary
::
Actuary
(n.) The
computing
official
of an
insurance
company;
one whose
profession
it is to
calculate
for
insurance
companies
the risks and
premiums
for life, fire, and other
insurances..
Reinsure
::
Reinsure
(v. t.) To
insure
again after a
former
insuranse
has
ceased;
to renew
insurance
on.
Insurance
::
Insurance
(n.) The
premium
paid for
insuring
property
or life.
Underwrite
::
Underwrite
(v. t.) To
subscribe
one's name to for
insurance,
especially
for
marine
insurance;
to write one's name
under,
or set one's name to, as a
policy
of
insurance,
for the
purpose
of
becoming
answerable
for loss or
damage,
on
consideration
of
receiving
a
certain
premium
per cent; as,
individuals,
as well as
companies,
may
underwrite
policies
of
insurance..
Indemnity
::
Indemnity
(n.)
Security;
insurance;
exemption
from loss or
damage,
past or to come;
immunity
from
penalty,
or the
punishment
of past
offenses;
amnesty..
Insurance
::
Insurance
(n.) A
guaranty,
security,
or
pledge;
assurance..
Lloyd''s
::
Lloyd's
(n.) A part of the Royal
Exchange,
in
London,
appropriated
to the use of
underwriters
and
insurance
brokers;
--
called
also
Lloyd's
Rooms..
Insure
::
Insure
(v. t.)
Specifically,
to
secure
against
a loss by a
contingent
event,
on
certain
stipulated
conditions,
or at a given rate or
premium;
to give or to take an
insurance
on or for; as, a
merchant
insures
his ship or its
cargo,
or both,
against
the
dangers
of the sea; goods and
buildings
are
insured
against
fire or
water;
persons
are
insured
against
sickness,
accident,
or
death;
and
sometimes
hazardous
debts are
insured..
Reassurance
::
Reassurance
(n.) Same as
Reinsurance.
Loss
::
Loss (v. t.)
Destruction
or
diminution
of
value,
if
brought
about in a
manner
provided
for in the
insurance
contract
(as
destruction
by fire or
wreck,
damage
by water or
smoke),
or the death or
injury
of an
insured
person;
also, the sum paid or
payable
therefor;
as, the
losses
of the
company
this year
amount
to a
million
of
dollars..
Company
::
Company
(n.) An
association
of
persons
for the
purpose
of
carrying
on some
enterprise
or
business;
a
corporation;
a firm; as, the East India
Company;
an
insurance
company;
a
joint-stock
company..
Carry
::
Carry (v. t.) To bear the
charges
or
burden
of
holding
or
having,
as
stocks,
merchandise,
etc., from one time to
another;
as, a
merchant
is
carrying
a large
stock;
a farm
carries
a
mortgage;
a
broker
carries
stock for a
customer;
to carry a life
insurance..
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