| A | B |
|---|
| insurance | Protection against possible financial loss. |
| policy | A contract with an insurance company or insurer to join the risk-sharing group. |
| risk | The chance of a loss or injury. Insurance companies refer to the insured person or property as this. |
| premium | A fee the policyholder pays the insurance company for insurance. |
| peril | Anything that may possibly cause a loss. ie: fire, flood, windstorm, robbery, etc. |
| hazard | Anything that increases the likelihood of loss through peril. |
| negligence | Failure to take ordinary or reasonable care to prevent accidents from happening. |
| deductible | The set amount that the policy holder must pay per loss on an insurance policy. |
| liability | Legal responsibility for the financial cost of another person's losses or injuries. |
