Insurance Definition

Insurance Definition – Insurance refers to a contractual arrangement in which one party i e. The insured by paying a definite amount in exchange for an adequate consideration called as premium. The state of being insured. Insurance definition is coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. Insurance company or the insurer agrees to compensate the loss or damage sustained to another party i e. Insurance is an arrangement in which you pay money to a company and they pay you if something unpleasant happens to you for example if your property is stolen or damaged or if you get a serious illness..

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The house was a total loss and the insurance company promptly paid us the policy limit.

Insurance definition. A promise of compensation for specific potential future losses in exchange for a periodic payment. Meaning pronunciation translations and examples. A reinsurance treaty in which a ceding insurer transfers a lump sum of its premiums to a reinsurer and over time is returned a portion of the unused premiums.

Time and distance policy. An entity which provides insurance is known as an insurer insurance company insurance carrier or underwriter a person or entity who buys insurance is known as an insured or as a policyholder. Insurance is a means of protection from financial loss.

It is a form of risk management primarily used to hedge against the risk of a contingent or uncertain loss. Insurance definition 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. Insurance is designed to.

Insurance is an arrangement in which you pay money to a company and they pay money to. Insurance synonyms insurance pronunciation insurance translation english dictionary definition of insurance. A means of being insured.

An arrangement or agreement that. Least expensive alternative treatment leat. The act business or system of insuring.

A clause in an insurance policy that indicates that the insurer will only cover the least expensive option for treatment repair or remediation. How to use insurance in a sentence.

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Insurance Definition – How to use insurance in a sentence. A clause in an insurance policy that indicates that the insurer will only cover the least expensive option for treatment repair or remediation. The act business or system of insuring. Least expensive alternative treatment leat. An arrangement or agreement that. A means of being insured..