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 >
air pistol
Sports; Shooting
A pistol that uses either compressed air or carbon dioxide to shoot lead pellets.
espresso, americano
Beverages; Coffee
Is a strong, flavorful coffee brewed by forcing hot water through finely ground coffee beans. In Italian, espresso means "pressed out" or "express". Espresso differs greatly from ...
culture
Business services; Human resources
In an organization, the shared attitudes, values and goals of that organization.
unemployment rate
Financial services; General Finance
The percentage of the people classified as unemployed as compared to the total labor force.