insurance
/ɪnˈʃʊər(ə)ns
/noun [mass noun]
1An arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium: many new borrowers take out insurance against unemployment or sickness...
- Group health insurance in large companies protects the individual with costly conditions by including him with the less costly.
- Identity theft is becoming so widespread in the UK that many companies now offer insurance to protect against falling victim to this increasingly common type of fraud.
- The need for adequate protection through insurance is also on the rise.
Synonyms
assurance, indemnity, indemnification, (financial) protection, security, surety, cover
1.1The business of providing insurance: Howard is in insurance...
- Mr Quinn, whose businesses include insurance and investment, is no stranger to big deals.
- He grew up in a modest home in Pittsburgh, where his father, Louis Jr., first worked in the family locksmith business and later in insurance.
- I've worked in a lot of businesses - insurance, clothing, construction materials, automobiles, telecom.
1.2Money paid for insurance: my insurance has gone up...
- Lawyers fees, taxes and insurance must all be paid.
- He said increased overheads such as insurance, rents and service charges have resulted in some shops becoming unviable.
- Take a look at your expenses over the last year to get an idea of annual expenses, such as taxes, insurance and subscription services.
1.3Money paid out as compensation under an insurance policy: when will I be able to collect the insurance?...
- He stands accused of setting fire to the store to collect insurance on the building and its contents.
- The murders took place to collect insurance on slaves who were sick and dying and therefore would not, on reaching land, become marketable commodities.
- Why not just burn the kitchen down when I light the stove so I can collect insurance and spend it all on college tuition?
2A thing providing protection against a possible eventuality: jackets were hung on the back of their chairs, insurance against an encounter with air-conditioning [count noun]: a marquee was hired as an insurance against the weather...
- The additional altitude would give us a bit of insurance against a possible explosive mid-air meeting with one of our friends.
- It was designed not as a gambling arena, it was designed as insurance against the possibility you will not have enough savings.
- My husband's just had a phone call from the bank trying to sell him Card Protection insurance.
Synonyms
protection, defence, safeguard, safety measure, shelter, security, precaution, provision, preventive measure, immunity;
guarantee, warranty
informal backstop
Usage
There is a technical distinction between insurance and assurance in the context of life insurance: see assurance (usage).
Origin
Late Middle English (originally as ensurance in the sense 'ensuring, assurance, a guarantee'): from Old French enseurance, from enseurer (see ensure). sense 1 dates from the mid 17th century.