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Rate :: Rate (n.) The class of a merchant vessel for marine insurance, determined by its relative safety as a risk, as A1, A2, etc..

Insure :: Insure (v. t.) Specifically, to secure against a loss by a contingent event, on certain stipulated conditions, or at a given rate or premium; to give or to take an insurance on or for; as, a merchant insures his ship or its cargo, or both, against the dangers of the sea; goods and buildings are insured against fire or water; persons are insured against sickness, accident, or death; and sometimes hazardous debts are insured..

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

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

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..

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..

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..

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

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

Insurancer :: Insurancer (n.) One who effects insurance; an insurer; an underwriter.

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

Company :: Company (n.) An association of persons for the purpose of carrying on some enterprise or business; a corporation; a firm; as, the East India Company; an insurance company; a joint-stock company..

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..

Carry :: Carry (v. t.) To bear the charges or burden of holding or having, as stocks, merchandise, etc., from one time to another; as, a merchant is carrying a large stock; a farm carries a mortgage; a broker carries stock for a customer; to carry a life insurance..

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

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

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..

Actuary :: Actuary (n.) The computing official of an insurance company; one whose profession it is to calculate for insurance companies the risks and premiums for life, fire, and other insurances..

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

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..

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