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Coinsurance
Coinsurance Co`in*sur"ance, n. [Co- + insurance.]
Insurance jointly with another or others; specif., that
system of fire insurance in which the insurer is treated as
insuring himself to the extent of that part of the risk not
covered by his policy, so that any loss is apportioned
between him and the insurance company on the principle of
average, as in marine insurance or between other insurers.
Disinsure
Disinsure Dis`in*sure", v. t.
To render insecure; to put in danger. [Obs.] --Fanshawe.
InsurableInsurable In*sur"a*ble, a. [From Insure.]
Capable of being insured against loss, damage, death, etc.;
proper to be insured.
The French law annuls the latter policies so far as
they exceed the insurable interest which remained in
the insured at the time of the subscription thereof.
--Walsh. Insurance brokerBroker Bro"ker (br[=o]"k[~e]r), n. [OE. brocour, from a word
akin to broken, bruken, to use, enjoy, possess, digest, fr.
AS. br[=u]can to use, enjoy; cf. Fries. broker, F.
brocanteur. See Brook, v. t.]
1. One who transacts business for another; an agent.
2. (Law) An agent employed to effect bargains and contracts,
as a middleman or negotiator, between other persons, for a
compensation commonly called brokerage. He takes no
possession, as broker, of the subject matter of the
negotiation. He generally contracts in the names of those
who employ him, and not in his own. --Story.
3. A dealer in money, notes, bills of exchange, etc.
4. A dealer in secondhand goods. [Eng.]
5. A pimp or procurer. [Obs.] --Shak.
Bill broker, one who buys and sells notes and bills of
exchange.
Curbstone broker or Street broker, an operator in stocks
(not a member of the Stock Exchange) who executes orders
by running from office to office, or by transactions on
the street. [U.S.]
Exchange broker, one who buys and sells uncurrent money,
and deals in exchanges relating to money.
Insurance broker, one who is agent in procuring insurance
on vessels, or against fire.
Pawn broker. See Pawnbroker.
Real estate broker, one who buys and sells lands, and
negotiates loans, etc., upon mortgage.
Ship broker, one who acts as agent in buying and selling
ships, procuring freight, etc.
Stock broker. See Stockbroker. insurance reserveReserve Re*serve", n.
1. (Finance)
(a) That part of the assets of a bank or other financial
institution specially kept in cash in a more or less
liquid form as a reasonable provision for meeting all
demands which may be made upon it; specif.:
(b) (Banking) Usually, the uninvested cash kept on hand
for this purpose, called the real reserve. In Great
Britain the ultimate real reserve is the gold kept on
hand in the Bank of England, largely represented by
the notes in hand in its own banking department; and
any balance which a bank has with the Bank of England
is a part of its reserve. In the United States the
reserve of a national bank consists of the amount of
lawful money it holds on hand against deposits, which
is required by law to be not less than 15 per cent
(--U. S. Rev. Stat. secs. 5191, 5192), three fifths of
which the banks not in a reserve city (which see) may
keep deposited as balances in national banks that are
in reserve cities (--U. S. Rev. Stat. sec. 5192).
(c) (Life Insurance) The amount of funds or assets
necessary for a company to have at any given time to
enable it, with interest and premiums paid as they
shall accure, to meet all claims on the insurance then
in force as they would mature according to the
particular mortality table accepted. The reserve is
always reckoned as a liability, and is calculated on
net premiums. It is theoretically the difference
between the present value of the total insurance and
the present value of the future premiums on the
insurance. The reserve, being an amount for which
another company could, theoretically, afford to take
over the insurance, is sometimes called the
reinsurance fund or the
self-insurance fund. For the first year upon any policy the
net premium is called the
initial reserve, and the balance left at the end of the
year including interest is the
terminal reserve. For subsequent years the initial reserve
is the net premium, if any, plus the terminal reserve of
the previous year. The portion of the reserve to be
absorbed from the initial reserve in any year in payment
of losses is sometimes called the
insurance reserve, and the terminal reserve is then called
the
investment reserve.
2. In exhibitions, a distinction which indicates that the
recipient will get a prize if another should be
disqualified.
3. (Calico Printing) A resist.
4. A preparation used on an object being electroplated to fix
the limits of the deposit.
5. See Army organization, above. Insurancer
Insurancer In*sur"an*cer, n.
One who effects insurance; an insurer; an underwriter. [Obs.]
--Dryden.
hose bold insurancers of deathless fame. --Blair.
Insurant
Insurant In*sur"ant, n.
The person insured. --Champness.
InsureInsure In"sure, v. t. [imp. & p. p. Insured; p. pr. & vb. n.
Insuring.] [OE. ensuren, prob. for assuren, by a change of
prefix. See 1st In-, and Sure, and cf. Assure,
Ensure.] [Written also ensure.]
1. To make sure or secure; as, to insure safety to any one.
2. Specifically, to secure against a loss by a contingent
event, on certain stipulated conditions, or at a given
rate or premium; to give or to take an insurance on or
for; as, a merchant insures his ship or its cargo, or
both, against the dangers of the sea; goods and buildings
are insured against fire or water; persons are insured
against sickness, accident, or death; and sometimes
hazardous debts are insured. Insure
Insure In*sure", v. i.
To underwrite; to make insurance; as, a company insures at
three per cent.
InsuredInsure In"sure, v. t. [imp. & p. p. Insured; p. pr. & vb. n.
Insuring.] [OE. ensuren, prob. for assuren, by a change of
prefix. See 1st In-, and Sure, and cf. Assure,
Ensure.] [Written also ensure.]
1. To make sure or secure; as, to insure safety to any one.
2. Specifically, to secure against a loss by a contingent
event, on certain stipulated conditions, or at a given
rate or premium; to give or to take an insurance on or
for; as, a merchant insures his ship or its cargo, or
both, against the dangers of the sea; goods and buildings
are insured against fire or water; persons are insured
against sickness, accident, or death; and sometimes
hazardous debts are insured. Insurer
Insurer In*sur"er, n.
One who, or that which, insures; the person or company that
contracts to indemnify losses for a premium; an underwriter.
Insurgence
Insurgence In*sur"gence, Insurgency In*sur"gen*cy, n.
A state of insurrection; an uprising; an insurrection.
A moral insurgence in the minds of grave men against
the Court of Rome. --G. Eliot.
Insurgency
Insurgence In*sur"gence, Insurgency In*sur"gen*cy, n.
A state of insurrection; an uprising; an insurrection.
A moral insurgence in the minds of grave men against
the Court of Rome. --G. Eliot.
InsurgentInsurgent In*sur"gent, a. [L. insurgens, p. pr. of insurgere
to rise up; pref. in- in + surgere to rise. See Surge.]
Rising in opposition to civil or political authority, or
against an established government; insubordinate; rebellious.
``The insurgent provinces.' --Motley. InsurgentInsurgent In*sur"gent, n. [Cf. F. insurgent.]
A person who rises in revolt against civil authority or an
established government; one who openly and actively resists
the execution of laws; a rebel.
Syn: See Rebel. InsuringInsure In"sure, v. t. [imp. & p. p. Insured; p. pr. & vb. n.
Insuring.] [OE. ensuren, prob. for assuren, by a change of
prefix. See 1st In-, and Sure, and cf. Assure,
Ensure.] [Written also ensure.]
1. To make sure or secure; as, to insure safety to any one.
2. Specifically, to secure against a loss by a contingent
event, on certain stipulated conditions, or at a given
rate or premium; to give or to take an insurance on or
for; as, a merchant insures his ship or its cargo, or
both, against the dangers of the sea; goods and buildings
are insured against fire or water; persons are insured
against sickness, accident, or death; and sometimes
hazardous debts are insured. Insurmountability
Insurmountability In`sur*mount`a*bil"i*ty, n.
The state or quality of being insurmountable.
Insurmountable
Insurmountable In`sur*mount"a*ble, a. [Pref. in- not +
surmountable: cf. F. insurmountable.]
Incapable of being passed over, surmounted, or overcome;
insuperable; as, insurmountable difficulty or obstacle.
--Locke.
Hope thinks nothing difficult; despair tells us that
difficulty is insurmountable. --I. Watts.
Syn: Insuperable; impassable; invincible.
Insurmountableness
Insurmountableness In`sur*mount"a*ble*ness, n.
The state or quality of being insurmountable;
insurmountability.
Insurmountably
Insurmountably In`sur*mount"a*bly, adv.
In a manner or to a degree not to be overcome.
Insurrectional
Insurrectional In`sur*rec"tion*al, a. [Cf. F.
insurrectionnel.]
Pertaining to insurrection; consisting in insurrection.
Insurrectionary
Insurrectionary In`sur*rec"tion*a*ry, a.
Pertaining to, or characterized by, insurrection; rebellious;
seditious.
Their murderous insurrectionary system. --Burke.
Insurrectionist
Insurrectionist In`sur*rec"tion*ist, n.
One who favors, or takes part in, insurrection; an insurgent.
Marine insurance Marine engine (Mech.), a steam engine for propelling a
vessel.
Marine glue. See under Glue.
Marine insurance, insurance against the perils of the sea,
including also risks of fire, piracy, and barratry.
Marine interest, interest at any rate agreed on for money
lent upon respondentia and bottomry bonds.
Marine law. See under Law.
Marine league, three geographical miles.
Marine metal, an alloy of lead, antimony, and mercury, made
for sheathing ships. --Mc Elrath.
Marine soap, cocoanut oil soap; -- so called because, being
quite soluble in salt water, it is much used on shipboard.
Marine store, a store where old canvas, ropes, etc., are
bought and sold; a junk shop. [Eng.] Mutual insuranceMutual Mu"tu*al, a. [F. mutuel, L. mutuus, orig., exchanged,
borrowed, lent; akin to mutare to change. See Mutable.]
1. Reciprocally acting or related; reciprocally receiving and
giving; reciprocally given and received; reciprocal;
interchanged; as, a mutual love, advantage, assistance,
aversion, etc.
Conspiracy and mutual promise. --Sir T. More.
Happy in our mutual help, And mutual love. --Milton.
A certain shyness on such subjects, which was mutual
between the sisters. --G. Eliot.
2. Possessed, experienced, or done by two or more persons or
things at the same time; common; joint; as, mutual
happiness; a mutual effort. --Burke.
A vast accession of misery and woe from the mutual
weeping, and wailing, and gnashing of teeth.
--Bentley.
Note: This use of mutual as synonymous with common is
inconsistent with the idea of interchange, or
reciprocal relation, which properly belongs to it; but
the word has been so used by many writers of high
authority. The present tendency is toward a careful
discrimination.
Mutual, as Johnson will tell us, means something
reciprocal, a giving and taking. How could people
have mutual ancestors? --P. Harrison.
Mutual insurance, agreement among a number of persons to
insure each other against loss, as by fire, death, or
accident.
Mutual insurance company, one which does a business of
insurance on the mutual principle, the policy holders
sharing losses and profits pro rata.
Syn: Reciprocal; interchanged; common. Mutual insurance companyMutual Mu"tu*al, a. [F. mutuel, L. mutuus, orig., exchanged,
borrowed, lent; akin to mutare to change. See Mutable.]
1. Reciprocally acting or related; reciprocally receiving and
giving; reciprocally given and received; reciprocal;
interchanged; as, a mutual love, advantage, assistance,
aversion, etc.
Conspiracy and mutual promise. --Sir T. More.
Happy in our mutual help, And mutual love. --Milton.
A certain shyness on such subjects, which was mutual
between the sisters. --G. Eliot.
2. Possessed, experienced, or done by two or more persons or
things at the same time; common; joint; as, mutual
happiness; a mutual effort. --Burke.
A vast accession of misery and woe from the mutual
weeping, and wailing, and gnashing of teeth.
--Bentley.
Note: This use of mutual as synonymous with common is
inconsistent with the idea of interchange, or
reciprocal relation, which properly belongs to it; but
the word has been so used by many writers of high
authority. The present tendency is toward a careful
discrimination.
Mutual, as Johnson will tell us, means something
reciprocal, a giving and taking. How could people
have mutual ancestors? --P. Harrison.
Mutual insurance, agreement among a number of persons to
insure each other against loss, as by fire, death, or
accident.
Mutual insurance company, one which does a business of
insurance on the mutual principle, the policy holders
sharing losses and profits pro rata.
Syn: Reciprocal; interchanged; common. ReinsuranceReinsurance Re`in*sur"ance (-sh?r"ans), n.
1. Insurance a second time or again; renewed insurance.
2. A contract by which an insurer is insured wholly or in
part against the risk he has incurred in insuring somebody
else. See Reassurance. reinsurance fundReserve Re*serve", n.
1. (Finance)
(a) That part of the assets of a bank or other financial
institution specially kept in cash in a more or less
liquid form as a reasonable provision for meeting all
demands which may be made upon it; specif.:
(b) (Banking) Usually, the uninvested cash kept on hand
for this purpose, called the real reserve. In Great
Britain the ultimate real reserve is the gold kept on
hand in the Bank of England, largely represented by
the notes in hand in its own banking department; and
any balance which a bank has with the Bank of England
is a part of its reserve. In the United States the
reserve of a national bank consists of the amount of
lawful money it holds on hand against deposits, which
is required by law to be not less than 15 per cent
(--U. S. Rev. Stat. secs. 5191, 5192), three fifths of
which the banks not in a reserve city (which see) may
keep deposited as balances in national banks that are
in reserve cities (--U. S. Rev. Stat. sec. 5192).
(c) (Life Insurance) The amount of funds or assets
necessary for a company to have at any given time to
enable it, with interest and premiums paid as they
shall accure, to meet all claims on the insurance then
in force as they would mature according to the
particular mortality table accepted. The reserve is
always reckoned as a liability, and is calculated on
net premiums. It is theoretically the difference
between the present value of the total insurance and
the present value of the future premiums on the
insurance. The reserve, being an amount for which
another company could, theoretically, afford to take
over the insurance, is sometimes called the
reinsurance fund or the
self-insurance fund. For the first year upon any policy the
net premium is called the
initial reserve, and the balance left at the end of the
year including interest is the
terminal reserve. For subsequent years the initial reserve
is the net premium, if any, plus the terminal reserve of
the previous year. The portion of the reserve to be
absorbed from the initial reserve in any year in payment
of losses is sometimes called the
insurance reserve, and the terminal reserve is then called
the
investment reserve.
2. In exhibitions, a distinction which indicates that the
recipient will get a prize if another should be
disqualified.
3. (Calico Printing) A resist.
4. A preparation used on an object being electroplated to fix
the limits of the deposit.
5. See Army organization, above. Reinsure
Reinsure Re`in*sure" (-sh?r"), v. t.
1. To insure again after a former insuranse has ceased; to
renew insurance on.
2. To insure, as life or property, in favor of one who has
taken an insurance risk upon it.
The innsurer may cause the property insured to be
reinsured by other persons. --Walsh.
Reinsurer
Reinsurer Re`in*sur"er (-sh?r"?r), n.
One who gives reinsurance.
Meaning of Insur from wikipedia
