JARGON BUSTER
insurance
insurance
An arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium
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INSURANCE POLICY
A document detailing the terms and conditions of a contract of insurance
UNDERWRITER
A person who accepts business on behalf of an insurer
commercial insurance
Insurance that protects businesses against losses as a result of such things as damage to property and injuries to employees
INSURANCE POLICY
A document detailing the terms and conditions of a contract of insurance
A person who accepts business on behalf of an insurer
commercial insurance
business liability insurance
Insurance taken out by a company to protect against injury or damage caused by a problem with a product or a failure by an employee
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public liability insurance
Insurance that a business must have so that if it is responsible for hurting someone or causing damage to their property, it can pay them compensation
life cover
Life cover is one type of cover that falls under the heading 'life insurance', and may also be known as 'term life insurance' or 'death cover'. Life cover pays a set amount of money when you die. The money will go to the people you nominate as beneficiaries on your policy
insurance broker
critical illness
An insurance product in which the insurer is contracted to typically make a lump sum cash payment if the policyholder is diagnosed with one of the specific illnesses on a predetermined list as part of an insurance policy