Definition and meaning of Health Insurance :

Health Insurance: Insurance against financial losses resulting from sickness or accidental bodily injury.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Health Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - H

For more dictionary entries, see » Insurance Business Dictionary

Definition and meaning of Group Insurance :

Group Insurance: Insurance written on a number of people under a single master policy, issued to their employer or to an association with which they are affiliated.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Group Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - G

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Definition and meaning of Nonparticipating Insurance :

Nonparticipating Insurance: Plan of insurance under which the policy-holder is not entitled to share in the dividend distribution of the company.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Nonparticipating Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - N

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Definition and meaning of Nonprofit Insurers :

Nonprofit Insurers: Persons organized under special state laws to provide hospital, medical, or dental insurance on a nonprofit basis. The laws exempt them from certain types of taxes.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Nonprofit Insurers , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - N

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Definition and meaning of Property Insurance :

Property Insurance: Insurance providing financial protection against the loss of, or damage to, real and personal property caused by such perils as fire, theft, windstorm, hail, explosion, riot, aircraft, motor vehicles, vandalism, malicious mischief, riot and civil commotion, and smoke.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Property Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - P

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Definition and meaning of Property Insurance :

Property Insurance: Provides financial protection against loss or damage to the insured's property caused by such perils as fire, windstorm, hail, etc.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Property Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - P

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Definition and meaning of Sickness Insurance :

Sickness Insurance: A form of health insurance providing benefits for loss resulting from illness or disease.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Sickness Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - S

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Definition and meaning of Currently Insured :

Currently Insured: Status of a covered person under the Old-age, survivors, and Disability Insurance (OASDI) program who has at least six quarters of coverage out of the last thirteen quarters, ending with the quarter of death, disability, or entitlement to retirement benefits.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Currently Insured , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - C

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Definition and meaning of Domestic Insurer :

Domestic Insurer: An insurance company is a domestic company in the state in which it is incorporated.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Domestic Insurer , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - D

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Definition and meaning of Dismemberment Insurance :

Dismemberment Insurance: A form of health insurance that provides payment in case of loss by bodily injury of one or more body members (such as hands or feet) or the sight of one or both eyes.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Dismemberment Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - D

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Definition and meaning of Cargo Insurance :

Cargo Insurance: Type of ocean marine insurance that protects the shipper of the goods against financial loss if the goods are damaged or lost.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Cargo Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - C

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Definition and meaning of Accident Insurance :

Accident Insurance: A form of health insurance against loss by accidental bodily injury.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Accident Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - A

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Definition and meaning of Credit Insurance :

Credit Insurance: A guarantee to manufacturers, wholesalers, and service organizations that they will be paid for goods shipped or services rendered. Applies to that part of working capital which is represented by accounts receivable.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Credit Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - C

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Definition and meaning of Dental Insurance :

Dental Insurance: Individual or group plan that helps pay costs of normal dental care as well as damage to teeth from an accident.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Dental Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - D

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Definition and meaning of Assurance Insurance :

Assurance Insurance: These terms are today generally accepted as synonymous, although not originally so. The term "assurance" is used more commonly in Canada and Great Britain than in the United States.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Assurance Insurance , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - A

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Definition and meaning of Business income exposure :

Business income exposure: lost profits resulting from damage to property that halts the business

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Business income exposure , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

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Definition and meaning of Business interruption exposure :

Business interruption exposure: see Business income exposure

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Business interruption exposure , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

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Definition and meaning of Insurable Risk :

Insurable Risk: The conditions that make a risk insurable are (a) the peril insured against must produce a definite loss not under the control of the insured, (b) there must be a large number of homogeneous exposures subject to the same perils, (c) the loss must be calculable and the cost of insuring it must be economically feasible, (d) the peril must be unlikely to affect all insureds simultaneously, and (e) the loss produced by a risk must be definite and have a potential to be financially serious.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Insurable Risk , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - I

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Definition and meaning of Insurance Exchange :

Insurance Exchange: Term used to describe a facility that exists in a few states to provide a market for reinsurance and for the insurance of large and unusual domistic and foreign risks that are difficult ot insure in the normal markets. Examples are the New York Insurance Exchange, the Insurance Exchange of the Americas, and the Illinois Inurance Exchange.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Insurance Exchange , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - I

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Definition and meaning of Disability Insured :

Disability Insured: Status of an individual who is insured for disability benefits under the Old-Age, Survivors, and Disability Insurance (OASDI) program. The covered person must be fully insured and have at least twenty quarters of coverage out of the last forty, ending with the quarter in which the disability occurs. Fewer quarters are required for persons under age thirty.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Disability Insured , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - D

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Definition and meaning of Treaty :

Treaty: An agreement between a reinsurer and a ceding insurer setting forth details of the reinsurance arrangement.

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Treaty , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - T

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Definition and meaning of Surrender :

Surrender: The cancellation of life insurance by the policyholder

(Source: The Haskayne School of Business at the University of Calgary )

Also see these pages: Surrender , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - S

For more dictionary entries, see » Insurance Business Dictionary