Basic Insurance Concepts

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Across
  1. 2. likelihood that a particular event will happen
  2. 3. policyholder's request for payment for a loss that the insurance policy covers
  3. 4. the amount paid out-of-pocket by the policyholder before the insurance company pays benefits on a claim
  4. 5. the company that assumes the risk and agrees to pay losses covered by the policy
  5. 7. one paying the premium
  6. 10. a form of protection from risk
Down
  1. 1. a document detailing the terms and conditions of a contract of insurance
  2. 2. the amount the policyholder must pay for an insurance policy
  3. 3. the monetary limits and risks covered by an insurance policy
  4. 6. person or business covered by a policy
  5. 8. the obligation to pay a monetary award for injury or damage caused by one's negligent action
  6. 9. the possibility of incurring a loss