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 termContributors in Insurance
Insurance > ![](/template/termwiki/images/arrow_01.gif)
selling concession
Financial services; General Finance
The discount underwriters offer the selling group on securities in a new issue.
materiality
Financial services; Accountancy
Information is material if its omission or misstatement could influence the economic decisions of users taken on the basis of the financial statements.
mobile billboard
Advertising; Billboard advertising
A truck equipped with one or more poster panel units. The truck can either be parked at specified venues or driven around designated localities.
camera head unit (CHU)
Consumer electronics; Video camera
In a remote head camera system, the CHU is a small unit that only includes the sensor, its optical interface, the cable coupling to a CCU and the minimum amount of electronic ...