insurance
in shoo ruhns
- n promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
- n written contract or certificate of insurance
- n protection against future loss
- State insurance commissioner is in ordinary times a job much like the job of state bank commissioner: super-auditor to see that no one plays hocus-pocus with money that the public .
- Term What it is Why it matters; Actuarially Sound: An insurance plan that collects enough money in premiums to at least cover claims paid out.
- Term What it is Why it matters; Actuarially Sound: An insurance plan that collects enough money in premiums to at least cover claims paid out.