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 > 
endoplasmic reticulum
Biology; Genetics
network of membranes in eukaryotic cells which helps in control of protein synthesis and cellular organization.
invited guests
Entertainment; Gambling
High-stakes players who are specifically sought out by casinos to play there. Usually comps, e.g. hotel suites, are made available for free.
editing features
Office equipment; Copiers
These days, many color copiers have a wide range of editing features, which enable the user to move the image, change the colors, or adjust colors to match the original after ...
intentional grounding
Sports; Football
a foul called against a quarterback who purposely throws an incomplete forward pass solely to avoid a sack; cannot be called if the pass lands at or beyond the line of scrimmage.
seed capital
Financial services; Venture capital
Money used to purchase equity-based interest in a new or existing company. This seed capital is usually quite small because the venture is still in the idea or conceptual stage.
allocated purchase order
Retail; Others
A purchase order that includes goods intended for delivery to multiple locations. Items ordered with an allocated purchase order can be shipped to a single location, and then ...
