Friday, 18 March 2011

Meaning of Term in Insurance

Coinsurance: Insurance issued jointly by two or more underwriters.

Fire insurance: Insurance against loss due to fire.

Group insurance: Insurance that is purchased by a group (such as the employees of a company) usually at a reduced rate to individual members of the group.

Hazard insurance: Insurance that provides protection against certain risks such as storms or fires. 

Health insurance: Insurance against loss due to ill health.

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