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Lesson 95---BUSINESS VOCABULARY: INSURANCE
Lesson 95: BUSINESS VOCABULARY: INSURANCE
Vocabulary
Insurance
1. actuary. n. a person who calculates risks for insurance companies.

2. assessor. n. a person who calculates the value of something [eg: a building, car etc].

3. claim. n. an application for payment under an insurance policy - to make a claim v..

4. comprehensive. n. [of an insurance policy] all-inclusive; providing complete protection.

5. consequential loss. n. a loss that happens as a consequence of or as a result of another.

6. coverUK. n. the protection given by an insurance policy [eg: public liability cover].

7. employer¡¯s liability. n. liability or responsibility of a firm for damage caused to one of its employees.

8. goods in transit. n. property, merchandise or any goods in the process of being transported.

9. insurance broker. n. agent who arranges insurance; middleman between insurer & policyholder.

10. liability. n. 1 the state of being liable 2 anything for which a person is liable.

11. liable. adj. legally obliged to pay for damage, injury etc; responsible - liability n..

12. loss. n. death, injury, damage etc that is the basis for a claim - to lose v..

13. loss adjuster. n. a person who assesses the amount of compensation arising from a claim.

14. policy. n. a contract of insurance [eg: a product liability policy].

15. policyholder. n. the person to whom an insurance policy is issued.

16. premium. n. a payment, usually monthly, yearly etc, for an insurance policy.

17. product liability. n. liability or responsibility of a firm for damage caused by one of its products.

18. public liability. n. responsibility of a firm for damage caused to a member of the public.

19. reinsurance. n. the insuring of risk by one insurance company with another - to reinsure v..

20. risk. n. 1 chance or possibility of injury, loss etc 2 person or thing causing risk

idioms/vocabulary

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