insurance, coverage

promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company

• coinsurance — insurance issued jointly by two or more underwriters
• reinsurance — sharing the risk by insurance companies; part or all of the insurer's risk is assumed by other companies in return for part of the premium paid by the insured
• self-insurance — insuring yourself by setting aside money to cover possible losses rather than by purchasing an insurance policy
• health insurance — insurance against loss due to ill health
• fire insurance — insurance against loss due to fire
• life insurance, life assurance — insurance paid to named beneficiaries when the insured person dies
• automobile insurance, car insurance — insurance against loss due to theft or traffic accidents
• assurance — a British term for some kinds of insurance

• security, protection — defense against financial failure