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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..

Lapsed :: Lapsed (a.) Ineffectual, void, or forfeited; as, a lapsed policy of insurance; a lapsed legacy..

Reinsure :: Reinsure (v. t.) To insure again after a former insuranse has ceased; to renew insurance on.

Warranty :: Warranty (n.) A stipulation or engagement by a party insured, that certain things, relating to the subject of insurance, or affecting the risk, exist, or shall exist, or have been done, or shall be done. These warranties, when express, should appear in the policy; but there are certain implied warranties..

Policy :: Policy (n.) The writing or instrument in which a contract of insurance is embodied; an instrument in writing containing the terms and conditions on which one party engages to indemnify another against loss arising from certain hazards, perils, or risks to which his person or property may be exposed. See Insurance..

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..

Tontine :: Tontine (n.) An annuity, with the benefit of survivorship, or a loan raised on life annuities with the benefit of survivorship. Thus, an annuity is shared among a number, on the principle that the share of each, at his death, is enjoyed by the survivors, until at last the whole goes to the last survivor, or to the last two or three, according to the terms on which the money is advanced. Used also adjectively; as, tontine insurance..

Insurance :: Insurance (n.) The premium paid for insuring property or life.

Scrip :: Scrip (n.) A preliminary certificate of a subscription to the capital of a bank, railroad, or other company, or for a share of other joint property, or a loan, stating the amount of the subscription and the date of the payment of the installments; as, insurance scrip, consol scrip, etc. When all the installments are paid, the scrip is exchanged for a bond share certificate..

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..

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..

Underwriter :: Underwriter (n.) One who underwrites his name to the conditions of an insurance policy, especially of a marine policy; an insurer..

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..

Reinsurance :: Reinsurance (n.) A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See Reassurance.

Insurancer :: Insurancer (n.) One who effects insurance; an insurer; an underwriter.

Reinsurer :: Reinsurer (n.) One who gives reinsurance.

Insure :: Insure (v. i.) To underwrite; to make insurance; as, a company insures at three per cent..

Lloyd''s :: Lloyd's (n.) An association of underwriters and others in London, for the collection and diffusion of marine intelligence, the insurance, classification, registration, and certifying of vessels, and the transaction of business of various kinds connected with shipping..

Insurance :: 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..

Premium :: Premium (n.) A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind..

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