1
The amount of money an individual or business pays for an insurance policy.
2
The amount of money that an insured person must pay before an insurance company will pay a claim.
3
The extent of protection provided by an insurance policy.
4
The person or entity that owns an insurance policy.
5
A formal request made by the policyholder to the insurance company for payment of a covered loss.
6
The process of evaluating and determining the risk of insuring a person or entity.
7
The company or organization that provides insurance coverage.
8
The chance of loss or damage that an insured person or entity faces.
9
Obligation of an individual or entity to compensate for any harm, injury, damage, or loss caused to another party.
10
A promise or agreement made by the person being insured to do or not do something specific.
11
Intentionally hiding important information or not telling the insurance company something they should know.
12
This is where multiple insurance policies covering the same loss, sharing the cost of the claim proportionally.
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