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- Insurance - n. - The act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or guarantee another against loss by certain specified risks. Cf. Assurance, n., 6.
- Insurance - n. - The premium paid for insuring property or life.
- Insurance - n. - The sum for which life or property is insured.
- Insurance - n. - A guaranty, security, or pledge; assurance.
- Insurancer - n. - One who effects insurance; an insurer; an underwriter.
- Loss - v. t. - Destruction or diminution of value, if brought about in a manner provided for in the insurance contract (as destruction by fire or wreck, damage by water or smoke), or the death or injury of an insured person; also, the sum paid or payable therefor; as, the losses of the company this year amount to a million of dollars.
- Actuary - n. - The computing official of an insurance company; one whose profession it is to calculate for insurance companies the risks and premiums for life, fire, and other insurances.
- Underwriter - n. - One who underwrites his name to the conditions of an insurance policy, especially of a marine policy; an insurer.
- Scrip - n. - A preliminary certificate of a subscription to the capital of a bank, railroad, or other company, or for a share of other joint property, or a loan, stating the amount of the subscription and the date of the payment of the installments; as, insurance scrip, consol scrip, etc. When all the installments are paid, the scrip is exchanged for a bond share certificate.
- Insure - v. t. - Specifically, to secure against a loss by a contingent event, on certain stipulated conditions, or at a given rate or premium; to give or to take an insurance on or for; as, a merchant insures his ship or its cargo, or both, against the dangers of the sea; goods and buildings are insured against fire or water; persons are insured against sickness, accident, or death; and sometimes hazardous debts are insured.
- Reinsure - v. t. - To insure, as life or property, in favor of one who has taken an insurance risk upon it.
- Underwrite - v. i. - To practice the business of insuring; to take a risk of insurance on a vessel or the like.
- Law - n. - Collectively, the whole body of rules relating to one subject, or emanating from one source; -- including usually the writings pertaining to them, and judicial proceedings under them; as, divine law; English law; Roman law; the law of real property; insurance law.
- Company - n. - An association of persons for the purpose of carrying on some enterprise or business; a corporation; a firm; as, the East India Company; an insurance company; a joint-stock company.
- Lloyd's - n. - A part of the Royal Exchange, in London, appropriated to the use of underwriters and insurance brokers; -- called also Lloyd's Rooms.
- Reinsure - v. t. - To insure again after a former insuranse has ceased; to renew insurance on.