Definition

insurance

n.

1. 1. The act, business, or system of insuring.
   2. The state of being insured.
   3. A means of being insured.
2. 1. Coverage by a contract binding a party to indemnify another against specified loss in return for premiums paid.
   2. The sum or rate for which such a contract insures something.
   3. The periodic premium paid for this coverage.
3. A protective measure: biking helmets that provide insurance against a head injury.

adj. Sports.

Of, relating to, or being a score that increases a team's lead enough to prevent the opposing team from tying the game with one more score: an insurance run.

Property/Casualty (P&C) Insurance

The United States dominates the world in P&C insurance (also known as general insurance). In 1998 the U.S. generated 43.4 percent of worldwide P&C premiums, Japan was next with 10.3 percent and Germany third with 8.8 percent. P&C insurance is broken down into personal lines (auto/private passenger and homeowners) and commercial lines (farm, commercial auto, aviation, marine/ocean/inland, crime, surety, boiler and machinery, glass, commercial credit, workers' compensation, public liability (including environmental pollution), professional liability (directors and officers, errors and omissions), product liability, commercial multiple-line, nuclear, title, and surplus and excess lines insurance).