Insurance Definition–noun | 1. | the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved. |
| 2. | coverage by contract in which one party agrees to indemnify or reimburse another for loss that occurs under the terms of the contract. |
| 3. | the contract itself, set forth in a written or printed agreement or policy. |
| 4. | the amount for which anything is insured. |
| 6. | any means of guaranteeing against loss or harm: Taking vitamin C is viewed as an insurance against catching colds. |
–adjective | 7. | of or pertaining to a score that increases a team's lead and insures that the lead will be held if the opposing team should score once more: The home run gave the team an insurance run, making the score 7-5. |
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From Dictionary
Policy Definition–noun, plural -cies. | 1. | a definite course of action adopted for the sake of expediency, facility, etc.: We have a new company policy. |
| 2. | a course of action adopted and pursued by a government, ruler, political party, etc.: our nation's foreign policy. |
| 3. | action or procedure conforming to or considered with reference to prudence or expediency: It was good policy to consent. |
| 4. | sagacity; shrewdness: Showing great policy, he pitted his enemies against one another. |
| 5. | Rare. government; polity. |
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From Dictionary
Related topics from Britannicalife insurance
method by which large groups of individuals equalize the burden of financial loss from death by distributing funds to the beneficiaries of those who die. Life insurance is most developed in wealthy ...
marine insurance
contract whereby, for a consideration stipulated to be paid by one interested in a ship or cargo that is subject to the risks of marine navigation, another undertakes to indemnify him against some ...
health insurance
system for the financing of medical expenses by means of contributions or taxes paid into a common fund to pay for all or part of health services specified in an insurance policy or law. The key ...
fire insurance
provision against losses caused by fire, lightning, and the removal of property from premises endangered by fire. The insurer agrees, for a fee, to reimburse the insured in the event of such an ...
group insurance
insurance provided to members of a formal group such as employees of a firm or members of an association. Group insurance is distinguished from individual insurance in which single policies are sold ...
liability insurance
insurance against claims of loss or damage for which a policyholder might have to compensate another party. The policy covers losses resulting from acts or omissions which are legally deemed to be ...
insurance
Life insurance may be defined as a plan under which large groups of individuals can equalize the burden of loss from death by distributing funds to the beneficiaries of those who die. From the ...
insurance
The most common form of personal liability insurance is issued as part of the homeowner's liability insurance policy. It is an all-risk agreement and contains relatively few exclusions. The policy ...
Business and Industry Review
As the fourth consecutive year of record numbers of mergers and acquisitions in the insurance business, 1998 was most notable as the year of especially large-scale mergers in worldwide private ...
Industrial Review
Worldwide sales of private insurance approached an estimated $1.5 trillion in 1993. Although sales growth throughout the world had been stagnant in recent years, Europe, Latin America, and Asia ...
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