Insurance
/ɪnˈʃʊərəns/
Definitions
- (n.) A contractual arrangement whereby one party agrees to indemnify another against loss, damage, or liability arising from specified contingencies.
She purchased insurance to protect her property from fire damage.
- (n.) The coverage or guarantee afforded by such a contract.
His policy provides insurance against automobile accidents.
Related terms
See also
Commentary
Insurance terminology often requires precise definition of covered risks and exclusions to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.