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Insurance :: Insurance (n.) The premium paid for insuring property or life.

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..

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..

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

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..

Reassurance :: Reassurance (n.) Same as Reinsurance.

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..

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

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..

Assurance :: Assurance (n.) Insurance; a contract for the payment of a sum on occasion of a certain event, as loss or death..

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..

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..

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..

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..

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.

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

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

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..

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