Insurance Company Meaning

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Definition of insurance company: A business that provides coverage, in the form of compensation resulting from loss, damages, injury, treatment or hardship in exchange for premium payments. The company calculates the risk of ...…

insurance company. a financial institution which UNDERWRITES the risk of loss of, or damage to, personal and business assets (general INSURANCE) and life and limb (life and accident insurance). Some companies specialize in one or other of these areas, but others (referred to as ‘composites’) operate in both sectors.…

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured.…

insurance company. Definition. A company that offers insurance policies to the public, either by selling directly to an individual or through another source such as an employee's benefit plan. An insurance company is usually comprised of multiple insurance agents.…

insurance company - a financial institution that sells insurance insurance firm , insurance underwriter , insurer , underwriter nondepository financial institution - a financial institution that funds their investment activities from the sale of securities or insurance…

A mutual insurance company is owned by policyholders. The sole purpose of a mutual insurance company is to provide insurance coverage for its members and policyholders, and its members are given the right to select management.…

Generally, an “A” rated insurance company is considered one that performs at the top of its industry in creditworthiness (the ability repay creditors and pay any claims presented) as well as how it performs financially when compared to its peers.…

Definition of insurance. 2 : a means of guaranteeing protection or safety The contract is your insurance against price changes. Frequent hand washing is good insurance against the common cold. Note: An insurance bet can be up to half of a player's original bet.…

The insurance company pays the rest. If you haven't met your deductible: You pay the full allowed amount, $100. Example of coinsurance with high medical costs Let's say the following amounts apply to your plan and you need a lot of treatment for a serious condition. Allowable costs are $12,000.…