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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..

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..

Underwrite :: Underwrite (v. i.) To practice the business of insuring; to take a risk of insurance on a vessel or the like.

Reinsurance :: Reinsurance (n.) Insurance a second time or again; renewed insurance.

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..

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..

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..

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..

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

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, as life or property, in favor of one who has taken an insurance risk upon it..

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

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

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

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..

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

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

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..

Rate :: Rate (n.) The class of a merchant vessel for marine insurance, determined by its relative safety as a risk, as A1, A2, etc..

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

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