Words and their meanings
Posted on Monday, March 1, 2010
This was posted in Business English/Business Communication, General Knowledge
- Liability: Legal responsibility.
- Premium: Payment of insurance.
- Comprehensive: All embracing; Covering all e.g., a comprehensive vehicle policy.
- Indemnify: to protect or secure against damage, or loss, for e.g Insurance indemnifies the policy-holder against consequences of the risks covered.
- Void: Not valid; no longer binding.
- Contingency: Chance occurrence; something that may happen.
- Ascertain: To find out for certain; example: ascertain the risks.
- Underwrite: To accept responsibility for loss.
- Lapse: To end.
- Pecuniary: relating to money.
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