insurance

American  

[in-shoor-uhns, -shur-] / ɪnˈʃʊər əns, -ˈʃɜr- /

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.

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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 British  

/ 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 called: insurance 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 agent

      insurance broker

      insurance company

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

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Other Word Forms

• noninsurance noun
• preinsurance noun
• proinsurance adjective

Etymology

Origin of insurance

First recorded in 1545–55; insure + -ance

Example Sentences

For an investor such as an insurance company, with long-term obligations, that helps with the so-called duration of their portfolios.

From The Wall Street Journal

The problem is that allowable rent increases in recent years have averaged less than 2% annually, which hasn’t kept pace with landlords’ surging costs for insurance, maintenance and utilities.

From The Wall Street Journal

Since New Jersey resident Natalie Jeremias, 50, was diagnosed with multiple sclerosis earlier this year, she has struggled with getting treatments because of insurance denials and high deductibles.

From The Wall Street Journal

The shadow fleet is largely made-up of aged tankers, many with obscure ownership or insurance.

From BBC

Half of people with Medicare get their coverage through Medicare Advantage plans run by insurance companies.

From Science Daily

Related Words

• allowance
• coverage
• guarantee