Insurance terms

October 30, 2007 RENU

actuary- estimates risk for an insurance company
assessor- calculates value of s’thing
claim- request for payment under an insurance policy.
comprehensive- giving total protection, all inclusive
cover- total protection under an insurance policy
insurance broker- middleman who sells insurance policies to clients, operates betn policy holder & insurance company.
liability- risk, anything that can cause insurance policy to take effect
loss adjuster- calculates amount of compensation after a claim is made.
policy- insurance contract
premium- payment for an insurance policy

Entry Filed under: Business