Insurance -Risk Management VB

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Across
  1. 4. A practice by which a company provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.
  2. 5. The potential that a chosen action or activity (including the choice of inaction)will lead to a loss (an undesirable outcome).
  3. 7. the quality of being insurable; the conditions under which an insurance company will issue insurance to an applicant (based on standards set by the insurance company).
  4. 9. An amount to be paid for an insurance policy.
  5. 10. the total amount and type of insurance carried.
Down
  1. 1. An insurance policy is a legally binding contract between an insurance company and the person who buys the policy, commonly called the "policyholder", who also is often the person insured.
  2. 2. A person or company that underwrites an insurance risk; the party in an insurance contract undertaking to pay compensation.
  3. 3. A specified Amount of money that the insured must pay before an insurance company will pay a claim.
  4. 6. The state of being responsible for something, especially by law.
  5. 8. The person, group, or property for which an insurance policy is issued. The condition of having insurance.
  6. 10. A formal request to an insurance company asking for a payment based on the terms of the insurance policy.