On-line Dictionary
Insurance
Insurance
n.
The
act
of
insuring
, or
assuring
,
against
loss
or
damage
by a
contingent
event
; a
contract
whereby
,
for
a
stipulated
consideration
,
called
premium
,
one
party
undertakes
to
indemnify
or
guarantee
another
against
loss
by
certain
specified
risks
. Cf.
Assurance
, n., 6.
Insurance
n.
The
premium
paid
for
insuring
property
or
life
.
Insurance
n.
The
sum
for
which
life
or
property
is
insured
.
Insurance
n.
A
guaranty
,
security
, or
pledge
;
assurance
.
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