Glossary Term: INSURANCE
Definition(s) for INSURANCE:
1. ) Municipal bond insurance companies guarantee timely payment of principal and/or interest on municipal and certain other types of bonds in the event of a default. The major insurers are identified by these symbols:
2. ) protection against a specific loss over a period of time that is secured by the payment of a regularly scheduled premium.
3. ) A contract in which one party agrees to pay for another party's financial loss resulting from a specified event (for example, a collision, theft, or storm damage). Lease agreements generally require that you maintain vehicle collision and comprehensive insurance as well as liability insurance for bodily injury and property damage.
4. ) With Respect To A Student Loan, The Insuring By The Secretary (As Evidenced By A Certificate Of Insurance
Or Other Document Or Certification Issued Under The Provisions Of The Higher Education Act) Under The Higher Education Act Of All Or A Portion Of The Principal Of And Accrued Interest On Such Student Loan.
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See Also:
BOND INSURANCE, BUILDER'S RISK INSURANCE, FEDERAL DEPOSIT INSURANCE CORPORATION IMPROVEMENT ACT 305 (FDICA 305), FIDELITY BOND OR FIDELITY INSURANCE, FLOOD INSURANCE, HAZARD INSURANCE, INSURANCE BINDER, LIABILITY INSURANCE, NATIONAL FLOOD INSURANCE REFORM ACT, TERM INSURANCE, TITLE INSURANCE, TITLE INSURANCE COMMITMENT, VARIABLE LIFE INSURANCE, WHOLE LIFE INSURANCE, COST INSURANCE AND FREIGHT (CIF), CREDIT INSURANCE, DEPOSIT INSURANCE, EXPORT FINANCE INSURANCE CORP. (EFIC), EXPORT FINANCE INSURANCE CORP
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