Definition and meaning of Business Insurance :

Business Insurance: A policy which primarily provides coverage of benefits to a business as contrasted to an individual. It is issued to indemnify a business for the loss of services of a key employee or a partner who becomes disabled.

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

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

Definition and meaning of business insurance :

business insurance: A policy that provides coverage to a business. It is often purchased to indemnify a business for the loss of services if a key employee (such as a partner) becomes disabled.

(Source: Bank of America )

Also see these pages: business insurance , Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Will :

Will: The legal statement of a person's wishes concerning the disposal of his or her property after death.

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

Also see these pages: Will , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - W

Definition and meaning of Business Insurance :

Business Insurance: Policies written for business purposes, such as key employee, sole proprietorship, partnership, and corporation. (LI,H)

(Source: InsWeb)

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

Definition and meaning of Insured :

Insured: A person or organization covered by an insurance policy, including the "named insured" and any other parties for whom protection is provided under the policy terms.

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

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

Definition and meaning of Insurer :

Insurer: The party to the insurance contract who promises to pay losses or benefits. Also, any corporation engaged primarily in the business of furnishing insurance to the public.

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

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

Definition and meaning of Insurability :

Insurability: Acceptability to the company of an applicant for insurance.

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

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

Definition and meaning of Insurance :

Insurance: A system under which individuals, businesses, and other organizations or entities, in exchange for payment of a sum of money (a premium), are guaranteed compensation for losses resulting from certain perils under specified conditions.

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

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

Definition and meaning of Insurance :

Insurance: Protection by written contract against the financial hazards (in whole or in part) of the happenings of specified fortuitous events.

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

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

Definition and meaning of Business Life Insurance :

Business Life Insurance: Life insurance purchased by a business enterprise on the life of a member of the firm. It is often bought by partnerships to protect the surviving partners against loss caused by the death of a partner, or by a corporation to reimburse it for loss caused by the death of a key employee.

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

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

Definition and meaning of Business Interruption Insurance :

Business Interruption Insurance: Protection for a business owner against losses resulting from a temporary shutdown because of fire or other insured peril. The insurance provides reimbursement for lost net profits and necessary continuing expenses.

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

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

Definition and meaning of Book of Business :

Book of Business: the number, size and type of accounts (policyholders) that an agent "owns."

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

Also see these pages: Book of Business , Insurance Business, Insurance Business Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of BUSINESS INCOME INSURANCE, BUSINESS INTERRUPTION INSURANCE :

BUSINESS INCOME INSURANCE (also known as BUSINESS INTERRUPTION INSURANCE): Commercial coverage that reimburses a business owner for lost profits and continuing fixed expenses during the time that a business must stay closed while the premises are being restored because of physical damage from a covered peril, such as a fire. Business income insurance also may cover financial losses that may occur if civil authorities limit access to an area after a disaster and their actions prevent customers from reaching the business premises. Depending on the policy, civil authorities coverage may start after a waiting period and last for two or more weeks. Also known as business interruption insurance.

(Source: Insurance Information Institute )

Also see these pages: BUSINESS INCOME INSURANCE, BUSINESS INTERRUPTION INSURANCE , Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Business :

Business: The face amount of Life insurance written. (LI)

(Source: InsWeb)

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

Definition and meaning of business life insurance :

business life insurance: Life insurance purchased by a business enterprise on the life of a member of the firm. It is often bought by partnerships to protect the surviving partners against loss caused by the death of a partner, or by a corporation to reimburse it for loss caused by the death of a key employee. (Also known as key person insurance.)

(Source: Bank of America )

Also see these pages: business life insurance , Insurance, Insurance Sitemap, Insurance Dictionary - B

Definition and meaning of Salvage :

Salvage: Recovery made by an insurance company by the sale of property which has been taken over from the insured as a part of loss settlement.

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

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

Definition and meaning of Subrogation :

Subrogation: Process by which one insurance company seeks reimbursement from another company or person for a claim it has already paid.

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

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

Definition and meaning of Surplus :

Surplus: The amount by which the value of an insurer's assets exceeds its liabilities, i.e., the net worth of an insurance company.

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

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

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

Definition and meaning of Trust :

Trust: A legal instrument allowing one party to control property for the benefit of another.

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

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