单词 | assumption of risk |
释义 | assumption of risk in Insurance (əsʌmpʃən əv rɪsk) noun (Insurance: Underwriting) risk Assumption of risk is the practice of paying for minor losses yourself, but protecting against catastrophic losses by buying insurance cover. SIMILAR WORDS: risk assumption Under the assumption of risk doctrine, a person who understands and recognizes the danger inherent in a particularactivity cannot recover damages in the event of injury. The courts held that assumption of risk meant that workers assumed liability for accidents caused by risks common to employment. Assumption of risk is the practice of paying for minor losses yourself, but protecting against catastrophiclosses by buying insurance cover. |
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