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Insure :: Insure (v. i.) To underwrite; to make insurance; as, a company insures at three per cent..

Lloyd''s :: Lloyd's (n.) An association of underwriters and others in London, for the collection and diffusion of marine intelligence, the insurance, classification, registration, and certifying of vessels, and the transaction of business of various kinds connected with shipping..

Lloyd''s :: Lloyd's (n.) A part of the Royal Exchange, in London, appropriated to the use of underwriters and insurance brokers; -- called also Lloyd's Rooms..

Warranty :: Warranty (n.) A stipulation or engagement by a party insured, that certain things, relating to the subject of insurance, or affecting the risk, exist, or shall exist, or have been done, or shall be done. These warranties, when express, should appear in the policy; but there are certain implied warranties..

Underwrite :: Underwrite (v. i.) To practice the business of insuring; to take a risk of insurance on a vessel or the like.

Reinsurance :: Reinsurance (n.) A contract by which an insurer is insured wholly or in part against the risk he has incurred in insuring somebody else. See Reassurance.

Reinsure :: Reinsure (v. t.) To insure, as life or property, in favor of one who has taken an insurance risk upon it..

Policy :: Policy (n.) The writing or instrument in which a contract of insurance is embodied; an instrument in writing containing the terms and conditions on which one party engages to indemnify another against loss arising from certain hazards, perils, or risks to which his person or property may be exposed. See Insurance..

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..

Underwriter :: Underwriter (n.) One who underwrites his name to the conditions of an insurance policy, especially of a marine policy; an insurer..

Indemnity :: Indemnity (n.) Security; insurance; exemption from loss or damage, past or to come; immunity from penalty, or the punishment of past offenses; amnesty..

Lapsed :: Lapsed (a.) Ineffectual, void, or forfeited; as, a lapsed policy of insurance; a lapsed legacy..

Scrip :: Scrip (n.) A preliminary certificate of a subscription to the capital of a bank, railroad, or other company, or for a share of other joint property, or a loan, stating the amount of the subscription and the date of the payment of the installments; as, insurance scrip, consol scrip, etc. When all the installments are paid, the scrip is exchanged for a bond share certificate..

Loss :: Loss (v. t.) Destruction or diminution of value, if brought about in a manner provided for in the insurance contract (as destruction by fire or wreck, damage by water or smoke), or the death or injury of an insured person; also, the sum paid or payable therefor; as, the losses of the company this year amount to a million of dollars..

Premium :: Premium (n.) A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind..

Law :: Law (n.) Collectively, the whole body of rules relating to one subject, or emanating from one source; -- including usually the writings pertaining to them, and judicial proceedings under them; as, divine law; English law; Roman law; the law of real property; insurance law..

Director :: Director (n.) One of a body of persons appointed to manage the affairs of a company or corporation; as, the directors of a bank, insurance company, or railroad company..

Reinsurance :: Reinsurance (n.) Insurance a second time or again; renewed insurance.

Underwrite :: Underwrite (v. t.) To subscribe one's name to for insurance, especially for marine insurance; to write one's name under, or set one's name to, as a policy of insurance, for the purpose of becoming answerable for loss or damage, on consideration of receiving a certain premium per cent; as, individuals, as well as companies, may underwrite policies of insurance..

Insurance :: Insurance (n.) The sum for which life or property is insured.

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