A contract in which an individual or entity receives financial protection or reimbursement against losses from an insurance company, which pools clients' risks to make payments more affordable for the insured. noun
She purchased insurance to cover her car in case of an accident.
The company offers health insurance to all its employees.
The business of providing such protection, typically involving the assessment and management of risk. noun
He works in the insurance industry, specializing in risk assessment.
Insurance companies must evaluate potential risks before offering a policy.
A measure taken to protect against a possible eventuality. noun
As an insurance against losing her job, she started saving more money.
He took an umbrella as insurance against the unpredictable weather.