business english 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

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