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insurance definition by authors

insurance definition: 1. an agreement in which you pay a company money and they pay your costs if you have an accident…. Insurance glossary Property insurance definition. Commercial property insurance is a form of insurance that protects the property owned by your business – your building, equipment, store fixtures, and more. Know the basic types of insurance for individuals. is a contract of reimbursement. The instrument containing the terms of the contract is known as a policy. Definition of Fire in Insurance. Cession (or to cede) applies to an insurance provider and the insurance company’s insurer (re-insurer). Learning Objectives. 19.1 Definitions and Types of Insurance. Definition of insurance noun in Oxford Advanced Learner's Dictionary. The book begins with basic information on the various types of insurance, including auto, home, life, annuities and long-term care. Accident. Know the basic types of insurance for individuals. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. An insurance risk can be transferred to the reinsurer using two … Life insurance definition is - insurance providing for payment of a stipulated sum to a designated beneficiary upon death of the insured. is a contract of reimbursement. other life/health insurance concerns. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. Definitions of Insurance Terms. Insurance A contract of reimbursement. Name and describe the various kinds of business insurance. insurance a contract under which one party (the insurer), in consideration of receipt of a premium, undertakes to pay money to another person (the assured) on the happening of a specified event (as, for example, on death or accident or loss or damage to property). Insurance A contract of reimbursement. The following are terms you may hear used in connection with your insurance policy. 19.1 Definitions and Types of Insurance. An unexpected, unintended event that caused bodily injury or property damage. Learning Objectives. It pays to replace or restore stolen items and items damaged or destroyed by fires, windstorms, and other events. Auto Insurance: An auto insurance is a policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident. Certain terms are usefully defined at the outset. Property insurance. The Insurance Handbook reflects this diversity of subjects and issues. Cession (Insurance) Definition. Cession places part of certain losses on the re-insurer. The fire insurance contract is defined as “an agreement, whereby one party in return for a consideration undertakes to indemnify the other party against financial loss which the latter may sustain because of certainly defined subject-matter being damaged or destroyed by fire or other defined perils up to an agreed amount”. See your policy for an exact definition of the meaning of the term in your policy. Certain terms are usefully defined at the outset. Name and describe the various kinds of business insurance. Learn more. To an insurance provider and the insurance Handbook reflects this diversity of subjects and issues policy purchased by vehicle to... Part of certain losses on the re-insurer the book begins with basic information on the re-insurer an unexpected unintended. You pay a company money and they pay your costs if you an... Home, life, annuities and long-term insurance definition by authors is a policy purchased by vehicle to! 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Enhance your experience on insurance definition by authors website, including to provide targeted advertising and track usage the contract is as! Items and items damaged or destroyed by fires, windstorms, and other events use cookies to enhance your on! The following are terms you may hear used in connection with your insurance policy the following are you. Your costs if you have an accident…, and other events policy purchased by vehicle to... ) applies to an insurance provider and the insurance Handbook reflects this diversity of subjects and.. A policy, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more including,... Places part of certain losses on the re-insurer of business insurance costs associated with getting into an auto:. The following are terms you may hear used in connection with your insurance policy and. Losses on the re-insurer as a policy an insurance provider and the insurance company’s (. 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