Insurance Company Meaning In English. Insurance is defined as a contract, which is called a policy, in which an individual or organisation receives financial protection and reimbursement of damages from the insurer or the insurance company. A building, car etc] the assessor said our house is worth over $200,000.
Noun the act, business, or system of insuring.; It is a contract that provides protection to an entity against a loss. A person who calculates the value of something [eg:
Insurance a contract under which one party (the insurer), in consideration of receipt of a premium, undertakes to pay money to another person (the assured) on the happening of a specified event (as, for example, on death or accident or loss or damage to property).
Maggie loves maths so she's thinking of becoming an actuary. How to use insurance in a sentence. ‘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.’ These rules tend to defeat the very essence of insurance i.e.