insurer in-ˈshu̇r-ər noun Legal Definition insure verb in·sure in-ˈshu̇r insured; insuring transitive verb : to assure against a loss by a contingent event on certain stipulated conditions or at a given rate of premium : give, take, or procure insurance on or fo...
The meaning of INSURER is one that insures; specifically : an insurance underwriter. How to use insurer in a sentence.
Indeed, any fraud of the insured in procuring the policy has the effect of voiding it if the insurer chooses to do so. FromProject Gutenberg His conduct in concealing facts that ought to have been made known to the insurer may have that effect. ...
Insured definition: the person, group, or organization whose life or property is covered by an insurance policy.. See examples of INSURED used in a sentence.
Insurance comes in several types based on the type of insurance policy which may be health insurance, property insurance, life insurance, vehicle insurance, and others. However, in all the insurance policies, the major core components include policy limit, age, and premium. ...
Coinsurance, sometimes known as copayment, is the sharing of risk between the insurer and insured. It also refers to several insurers sharing the risk.
Mediation occurs when an independent third party steps in to try and find a way for the insured and the insurer to agree on a mutually acceptable outcome. The mediator is not called upon to decide who is right but rather to add structure to communication between the disputing parties, so th...
An insurer can change the status of a premium from unearned to earned when its full obligation is fulfilled. Summary People need to be covered in the case of vast financial loss. And an insurance company needs to make a profit to continue being able to help people in times of need. Writt...
The meaning of "Excess" is as follows: "In the event of an excess of 5% being applicable on the loss of GBP100" which means that any loss up to GBP5 is payable by the (1)( ) insurer/( ) insured, and GBP95 is payable by the (2) ( ) insurer/( ) insured. ...
In an insurance case, the insured bears the burden of proof. The insured has to prove that the claim falls under the insurance policy. The insurer, on the other hand, bears the burden of proof in demonstrating that the claim does not fall under the insurance policy, and, therefore, is ...