单词 | insurance |
释义 | insurance insurance a contract under which one party (the insurer), in consid- eration of receipt of a premium, undertakes to pay money to anoth- er person (the assured) on the happening of a specified event (as, for example, on death or accident or loss or damage to property). The instrument containing the terms of the contract is known as a policy. Contracts of insurance are uberrimae fidei, requiring full disclosure by the assured of all facts material to the risk insured. See also LIFE INSURANCE, INSURABLE INTEREST. |
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