Insurance: Insurance Glossary Dictionary II - Insurance

Definition of Insurance:

A contract whereby an insurer promises to pay the insured a sum of money or some other benefit upon the happening of one or more uncertain events in exchange for the payment of a premium. There must be uncertainty as to whether the relevant event(s) may happen at all or, if they will occur (e.g. death) as to their timing.

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The meaning of Insurance is an excerpt from Lloyd's Insurance Glossary

Visit Lloyds website here: http://www.lloyds.com

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Also see: Insurance ,

Insurance dictionary
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Insurance glossary, Insurance terms

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