insurance business


insurance business
The business of writing and issuing contracts of insurance, that is, insurance policies. 29 Am J Rev ed Ins § 5. The business of insurance consists in accepting a number of risks, some of which will involve losses, and of spreading such losses over all risks so as to enable the insurer to accept each risk at the slightest fraction of possible liability upon it. Home Title Ins. Co. v United States (CA2 NY) 50 F 107.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • Categorisation of long-term insurance business for corporation tax purposes in the United Kingdom — For corporation tax purposes in the United Kingdom, long term insurance business is divided into different categories. The reason for this is that each category of business is given a different tax treatment. The categorisation is currently set… …   Wikipedia

  • Insurance in India — Insurance is a federal subject in India and has a history dating back to 1818. Life and general insurance in India is still a nascent sector with huge potential for various global players with the life insurance premiums accounting to 2.5% of the …   Wikipedia

  • Business Owner Policy - BOP — Insurance policies that combine protection from all major property and liability risks in one package. A Business Owner Policy or BOP is an insurance package that assembles the basic coverages required by a business owner in one bundle. It is… …   Investment dictionary

  • business liability insurance — ➔ insurance * * * business liability insurance UK US noun [U] ► INSURANCE insurance taken out by a company to protect against injury or damage caused by a problem with a product or a failure by an employee: »Every business owner should shop for… …   Financial and business terms

  • business life and health insurance — ➔ insurance * * * business life and health insurance UK US noun [U] (also key person insurance) ► INSURANCE insurance taken out by a company to protect against loss of income caused by the death or illness of an owner or important employee …   Financial and business terms

  • business — busi‧ness [ˈbɪzns] noun COMMERCE 1. [uncountable] the production, buying, and selling of goods or services for profit: • Students on the course learn about all aspects of business. • We are in business to create profit. • The company says it… …   Financial and business terms

  • business interruption insurance — ➔ insurance …   Financial and business terms

  • business property and liability insurance — ➔ insurance …   Financial and business terms

  • business — I (affair) noun activity, concern, duty, interest, matter, mission, proceeding, proposition, responsibility, task, undertaking foreign phrases: Allena negotia exacto officio geruntur. The business of another is to be carried out with particular… …   Law dictionary

  • insurance commissioner — n. A public official who supervises the insurance business within a state. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.