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Insurance
Insurance is a promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance, disability insurance, life insurance, and business insurance.
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ground ball
Sports; Baseball
This is a batted ball that hits the ground and then rolls on it. It is not hit in the air.
garnishment
Business services; Human resources
When a person's earnings are withheld by his/her employer in response to a court order. The earnings will be used to pay an unpaid debt.
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Financial services; General Finance
International Chamber of Commerce rules on the handling of documentary and clean collections.