Insurance

3. Financial protection against specific risks.
4. Represents the current worth or price of an asset or investment in the open market. It can fluctuate based on supply and demand and may differ from the face value or purchase price.
7. The company that provides insurance coverage
9. The duration for which an insurance policy is in effect, typically expressed in months or years.
10. The amount of money specified in an insurance policy that will be paid out upon maturity, death, or another specified event.
11. A written contract between the insurance company and the policyholder outlining the terms, conditions, and coverage details.

1. A formal request made by the policyholder to the insurance company for payment or coverage of a loss
2. The principle of insurance that aims to restore the policyholder to the financial position they were in before the covered loss occurred.
5. The likelihood of a loss occurring
6. The process by which an insurance company seeks reimbursement from a third party responsible for a covered loss.
8. The person who purchases an insurance policy.
9. The amount of money paid to the insurance company
11. The maximum amount the insurance company will pay for a covered claim or loss, as stated in the policy.