Home > Industry/Domain > Insurance

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.

0Categories 32802Terms

Add a new term

Contributors in Insurance

Insurance >

Sanani

Beverages; Coffee

This coffee is one of the best coffees from Yemen. A medium-bodied, less acidic version of the standard Yemen style.

hook

Sports; Golf

A shot that starts to go outside and then moves back inside. For a right-handed golfer the shot starts out to the right and the moves back to the left.

Family and Medical Leave Act

Business services; Human resources

This act stipulates that employers must provide up to 12 weeks of unpaid leave to eligible employees.

Uniform Gifts to Minors Act (UGMA)

Financial services; General Finance

Legislation that provides a tax-effective manner of transferring property to minors without the complications of trusts or guardianship restrictions.

attack

Sports;

an aggressive, high-speed jump away from other riders.

sit on a wheel

Sports; Bicycle & electric bicycle

to ride in someone's draft.

Dessert Server

Kitchen & dining; Cooking tools

Essential for serving most desserts including cakes, pies and pastries.

Sub-categories