Insurance Company By Definition
Likewise in life insurance the company.
Insurance company by definition. How to use insurance in a sentence. My premium to the insurance company because now all that damage will be repaired and the cost will be covered by the insurance company. Insurance company a financial institution that sells insurance insurance firm insurance underwriter insurer underwriter nondepository financial. An insurance company can specialize in one type of insurance such as life insurance health.
Insurance is a means of protection from financial loss. An insurance company may deny or cancel coverage if the insured party concealed or misrepresented a material fact in the policy application. For example if one purchases health insurance the insurance company will pay for some of the client s medical bills if any. If an applicant presents an unacceptably high risk of loss for an insurance company the company may deny the application or charge prohibitively high premiums.
Least expensive alternative treatment leat. An entity which provides insurance is known as an insurer insurance company insurance carrier or underwriter a person or entity who buys insurance is known as an insured or as a policyholder. Insurance company synonyms insurance company pronunciation insurance company translation english dictionary definition of insurance company. A company that offers insurance policies to the public either by selling directly to an individual or through another source such as an employee s benefit plan.
Insurance definition is coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. An insurance company is usually comprised of multiple insurance agents. Insurance vox populi a contractual relationship when one party an insurance company or underwriter in consideration of a fixed sum a premium agrees to pay on behalf another an insured or policyholder for covered losses up to the limits purchased caused by designated contingencies listed in the policy. The company has indicated that the proposals governing health insurance will protect them against rising costs at least we have crop insurance which is good protection against decisions that turn out bad if they fall within the legal definition of insurance protection may be offered to consumers in two ways.
Definition of insurance company. A business that provides coverage in the form of compensation resulting from loss damages injury treatment or hardship in exchange for premium payments. 16 people found.
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