insurance -
promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
protection,
security payment extorted by gangsters on threat of violence; "every store in the neighborhood had to pay him protection"
assurance freedom from doubt; belief in yourself and your abilities; "his assurance in his superiority did not make him popular"; "after that failure he lost his confidence"; "she spoke with authority"
business interruption insurance insurance that provides protection for the loss of profits and continuing fixed expenses resulting from a break in commercial activities due to the occurrence of a peril
coinsurance insurance issued jointly by two or more underwriters
group insurance insurance that is purchased by a group (such as the employees of a company) usually at a reduced rate to individual members of the group
hazard insurance insurance that provides protection against certain risks such as storms or fires
liability insurance insurance that provides protection from claims arising from injuries or damage to other people or property
life assurance,
life insurance insurance paid to named beneficiaries when the insured person dies; "in England they call life insurance life assurance"
malpractice insurance insurance purchased by physicians and hospitals to cover the cost of being sued for malpractice; "obstetricians have to pay high rates for malpractice insurance"
reinsurance sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured; "reinsurance enables a client to get coverage that would be too great for any one company to assume"
self-insurance insuring yourself by setting aside money to cover possible losses rather than by purchasing an insurance policy
Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance policy.
OmegaWiki Dictionary
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insurance An agreement of providing financial protection contingencies, such as death, loss or damage and involving payment of regular premiums in return for a policy guaranteeing such protection.
insurance The business of providing a financial protection against most losses or harm to a person, property or a firm in return for premiums paid.
