Insurance
To insure, insurance, underinsurance, reinsurance, insurer, the insured, risk, probability, to protect, protection, catastrophic, part, insurance, premium, claim, insurance compensation, insurance policy, insurance cover, lass
Rick is the chance of loss, the degree of probability of loss, and the amount of possible loss.
To protect themselves from catastrophic losses, business turn to insurance, companies, that promises to pay for all or part of a loss.
A premium is the cost of the policy coverage to the insured or the fee charged by the insurance company.
There are different types of insurance against burglary, insurance against loss of damage, insurance
of buildings, accident insurance, disability insurance, fire insurance, health insurance, life insurance, loan insurance, marriage insurance, retirement insurance, social insurance, unemployment insurance, and so on.
Exercises:
1. Find out which definition on the right matches which word on the left.
Premium - person who advices on insurance
Underwriter - a document which proves you are insured
Insurance company - insured
Broker - payment for insurance
Claim - insurance protection
Compensation - a form you fill in when you apply for insurance
Small print - insurance
Insurance policy - an insurer at LIoyd’s of London.
Proposal form - limited liability Company selling cover
Cover - cover
- The conditions and clauses in a document of insurance, usually in small writing
- You are paid …… when your insured property is damaged
- A request for payment when your insured property is damaged.