insurance

[ in-shoor-uhns, -shur- ]

noun

1. the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved.
2. coverage by contract in which one party agrees to indemnify or reimburse another for loss that occurs under the terms of the contract.
3. the contract itself, set forth in a written or printed agreement or policy.
4. the amount for which anything is insured. insured.
5. an insurance premium.
6. any means of guaranteeing against loss or harm:

   Taking vitamin C is viewed as an insurance against catching colds.

adjective

1. of or relating to a score that increases a team's lead and insures that the lead will be held if the opposing team should score once more:

   The home run gave the team an insurance run, making the score 7-5.

insurance

/ ɪnˈʃʊərəns; -ˈʃɔː- /

noun

1. 1. the act, system, or business of providing financial protection for property, life, health, etc, against specified contingencies, such as death, loss, or damage, and involving payment of regular premiums in return for a policy guaranteeing such protection
   2. the state of having such protection
   3. Also calledinsurance policy the policy providing such protection
   4. the pecuniary amount of such protection
   5. the premium payable in return for such protection
   6. ( as modifier )

      insurance broker

      insurance agent

      insurance company

2. a means of protecting or safeguarding against risk or injury

Other Words From

• nonin·surance noun
• prein·surance noun
• proin·surance adjective

Word History and Origins

Origin of insurance¹

First recorded in 1545–55; insure + -ance

Example Sentences

Like Maharashtra, Jharkhand also saw parties promising cash incentives, free power, jobs and health insurance.

From BBC

They told the BBC they are receiving a poor service as the company fails to perform basic maintenance and administrative duties like weeding and grass cutting and have questioned charges such as "terrorism insurance."

From BBC

PBMs decide which medicines get covered by insurance plans, and they use that gatekeeping power to extract massive discounts from drug manufacturers.

From Salon

It has also been angered by the chaotic transition to a new social health insurance scheme, with the government owing millions of dollars to faith-based hospitals.

From BBC

The program, known as 340B, requires drug makers to sell their drugs at discounts to certain healthcare providers, who then turn around and charge health insurance companies more for the drugs.

From Los Angeles Times

Related Words

• allowance
• coverage
• guarantee