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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..

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..

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.

Reassurance :: Reassurance (n.) Same as Reinsurance.

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..

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

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..

Assurance :: Assurance (n.) Insurance; a contract for the payment of a sum on occasion of a certain event, as loss or death..

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.

Indemnity :: Indemnity (n.) Security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of past offenses; amnesty..

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..

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

Insurance :: Insurance (n.) The sum for which life or property is insured.

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..

Director :: Director (n.) One of a body of persons appointed to manage the affairs of a company or corporation; as, the directors of a bank, insurance company, or railroad company..

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.

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