Insurance Account
/ɪnˈʃʊərəns əˈkaʊnt/
Definitions
- (n.) A record or ledger maintained by an insurer or insured to track premiums paid, claims made, policy adjustments, and other financial transactions related to an insurance policy.
The insurance account showed all premium payments and claim reimbursements for the past year.
Forms
- insurance account
- insurance accounts
Related terms
See also
Commentary
The term primarily refers to financial record-keeping in insurance contexts and should not be confused with broader legal accounts or escrow accounts, though related in function.
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.