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insurance

The Oxford Pocket Dictionary of Current English | 2009 | © The Oxford Pocket Dictionary of Current English 2009, originally published by Oxford University Press 2009. (Hide copyright information) Copyright

in·sur·ance / inˈshoŏrəns/ • n. 1. a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium: many new borrowers take out insurance against unemployment or sickness. ∎  the business of providing such an arrangement: Howard is in insurance. ∎  money paid for this: my insurance has gone up. ∎  money paid out as compensation under such an arrangement: when will I be able to collect the insurance? ∎  an insurance policy. 2. a thing providing protection against a possible eventuality: seeking closer ties with other oil-supplying nations as insurance against disruption of Middle East supplies young people are not an insurance against loneliness in old age.

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