INSURANCE

Insurance

Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.

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insurance

Noun

  1. A means of indemnity against a future occurrence of an uncertain event.
    The car was totalled, but fortunately I had insurance.
  2. The business of providing insurance.
    After five years in banking, I switched to insurance.
  3. Metaphoric: Any attempt to anticipate an unfavorable event.
    The sky was clear, but I took my umbrella for insurance.
  4. Blackjack: A bet made after the deal, which pays off if the dealer has blackjack.
    I only take insurance if the count is right.
  5. An insurance policy


The above text is a snippet from Wiktionary: insurance
and as such is available under the Creative Commons Attribution/Share-Alike License.

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