insurance policy
91Insurance Claim — A formal request to an insurance company asking for a payment based on the terms of the insurance policy. Insurance claims are reviewed by the company for their validity and then paid out to the insured or requesting party (on behalf of the… …
92Insurance — A contract (policy) in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients risks to make payments more affordable for the insured. When shopping around… …
93insurance — noun /ɨn.ˈʃɹ̩.ɨns,ˈɪn.ʃə.ɹɨns/ a) A means of indemnity against a future occurrence of an uncertain event. The car was totalled, but fortunately I had insurance. b) The business of providing insurance. After five years in banking, I switched to… …
94insurance fraud — noun Deliberate but secret causing of an event, for which a claim for compensation for insured property becomes seemingly lawful according to the insurance policy and receiving such a compensation. My mom took an insurance policy for her car, and …
95insurance — n. 1) to provide insurance for 2) to sell, write; underwrite insurance 3) to carry; take out insurance (our firm carries fire insurance) 4) to cancel; renew insurance 5) accident; automobile (AE), motor (BE), motor car (BE); collision;… …
96Policy Loan — A loan issued by an insurance company that uses the cash value of a person s life insurance policy as collateral. Sometimes referred to as a life insurance loan. Traditionally, these were loans issued at a very low interest rate, but that is no… …
97insurance claim — A claim for reimbursement from the insurance company when the insured has suffered a loss that is covered under an insurance policy. Bloomberg Financial Dictionary * * * insurance claim insurance claim ➔ claim1 * * * insurance claim UK US noun… …
98insurance premium — Payments calculated by the insurance company based on risk factors that must be made by the insured to guarantee protection of property loss under an insurance policy. Bloomberg Financial Dictionary * * * insurance premium insurance premium ➔… …
99policy cost — An item of expenditure incurred as a consequence of a policy determined by the management of an organization. For example, the insurance premium determined by a key man insurance policy taken out by an organization will be directly related to the …
100policy proof of interest — PPI An insurance policy (usually marine insurance) in which the insurers agree that they will not insist on the usual requirement that the insured must prove an insurable interest existed in the subject matter before a claim is paid. The… …
