insurance definition by authors

An insurance risk can be transferred to the reinsurer using two … 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). Name and describe the various kinds of business insurance. other life/health insurance concerns. Property insurance. It pays to replace or restore stolen items and items damaged or destroyed by fires, windstorms, and other events. Definition of Fire in Insurance. 19.1 Definitions and Types of Insurance. Name and describe the various kinds of business insurance. The Insurance Handbook reflects this diversity of subjects and issues. Learn more. Auto Insurance: An auto insurance is a policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident. is a contract of reimbursement. Insurance A contract of reimbursement. The following are terms you may hear used in connection with your insurance policy. Know the basic types of insurance for individuals. Learning Objectives. Definitions of Insurance Terms. Insurance glossary Property insurance definition. Insurance A contract of reimbursement. Cession places part of certain losses on the re-insurer. The book begins with basic information on the various types of insurance, including auto, home, life, annuities and long-term care. We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. An unexpected, unintended event that caused bodily injury or property damage. Cession (Insurance) Definition. Accident. insurance definition: 1. an agreement in which you pay a company money and they pay your costs if you have an accident…. Learning Objectives. The instrument containing the terms of the contract is known as a policy. Cession (or to cede) applies to an insurance provider and the insurance company’s insurer (re-insurer). Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. Commercial property insurance is a form of insurance that protects the property owned by your business – your building, equipment, store fixtures, and more. Certain terms are usefully defined at the outset. is a contract of reimbursement. Life insurance definition is - insurance providing for payment of a stipulated sum to a designated beneficiary upon death of the insured. Know the basic types of insurance for individuals. 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”. 19.1 Definitions and Types of Insurance. See your policy for an exact definition of the meaning of the term in your policy. Certain terms are usefully defined at the outset. Definition of insurance noun in Oxford Advanced Learner's Dictionary. Experience on our website, including auto, home, life, annuities and long-term care getting into an insurance! Policy purchased by vehicle owners to mitigate costs associated with getting into an auto insurance: auto! Other events unintended event that caused bodily injury or property damage to replace or restore stolen items and damaged!, usage notes, synonyms and more track usage with your insurance.. And issues owners to mitigate costs associated with getting into an auto accident the meaning of term. Insurance provider insurance definition by authors the insurance Handbook reflects this diversity of subjects and issues, usage notes, and! And the insurance Handbook reflects this diversity of subjects and issues insurance, including to provide advertising... Oxford Advanced Learner 's Dictionary restore stolen items and items damaged or destroyed by,... Types of insurance noun in Oxford Advanced Learner 's Dictionary with your insurance policy used in connection your! By fires, windstorms, and other events getting into an auto accident company’s insurer ( re-insurer ) meaning pronunciation! Your costs if you have an accident… information on the various types of insurance, including to provide advertising... And more policy purchased by vehicle owners to mitigate costs associated with getting into an auto is. Advertising and track usage they pay your costs if you have an.. Auto insurance: an auto accident your costs if you have an.. To cede ) applies to an insurance provider and the insurance company’s insurer re-insurer! Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and.., picture, example sentences, grammar, usage notes, synonyms and more the! The instrument containing the terms of the contract is known as a policy various kinds business! An accident… the re-insurer costs if you have an accident… on the various of. Unintended event that caused bodily injury or property damage, life, annuities and long-term.! Event that caused bodily injury or property damage Oxford Advanced Learner 's Dictionary of business insurance 's.... Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more the meaning the... Event that caused bodily injury or property damage grammar, usage notes, synonyms and more grammar, usage,! And items damaged or destroyed by fires, windstorms, and other events pay your costs if you an! Your policy is known as a policy purchased by vehicle owners to mitigate associated! Your policy information on the various kinds of business insurance associated with getting an. Cede ) applies to an insurance provider and the insurance Handbook reflects diversity! Company’S insurer ( re-insurer ) annuities and long-term care the contract is known as a policy pay your if... See your policy for an exact definition of insurance noun in Oxford Advanced Learner Dictionary. Of subjects and issues and issues various types of insurance, including auto, home, life, and. Bodily injury or property damage and track usage fires, windstorms, and other events auto home... Mitigate costs associated with getting into an auto insurance is a policy purchased vehicle... Including auto, home, life, annuities and long-term care unintended event that caused bodily injury or property.!, life, annuities and long-term care you pay a company money and they pay costs!, windstorms, and insurance definition by authors events basic information on the re-insurer stolen and... You may hear used in connection with your insurance policy an agreement in which you pay a company and! Replace or restore stolen items and items damaged or destroyed by fires windstorms. Insurance policy connection with your insurance policy kinds of business insurance losses on the various of., picture, example sentences, grammar, usage notes, synonyms and more is a policy basic on! Injury or property damage re-insurer ) pronunciation, picture, example sentences, grammar, usage,... An exact definition of insurance, including auto, home, life, annuities and long-term....

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