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Insurance Vocabulary

TermDefinition
claim n. an application for payment under an insurance policy - to make a __
comprehensive n. [of an insurance policy] all-inclusive; providing more complete protection
employer's liability responsibility of a firm for damage caused to one of its employees
insurance broker agent who arranges insurance; middleman between insurer and policyholder
liability n. 1) the state of being legally responsible 2 anything for which a person is responsible
liable adj. legally obliged to pay for damage, injury etc; responsible
loss any injury or damage that the insured suffers. It is the basis for a claim
policyholder the person to whom an insurance policy is issued
issue a policy create an insurance policy and provide it to a customer.
premium n. a payment, usually monthly, yearly etc, for an insurance policy
product liability n. liability or responsibility of a firm for damage caused by one of its products
public liability n. responsibility of a firm for damage caused to a member of the public
risk n. chance or possibility of injury, loss etc
Created by: Maru Rodriguez
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