Insurance Terms

2. The cause of a possible loss
4. A form of misrepresentation in which an agent persuades an insured/owner to cancel, lapse or switch policies, even when it's to the insured's disadvantage
6. The reduction, decrease, or disappearance of value of the property insured in a policy
8. the amount of money realized from the sale of damaged merchandise or property
9. a wrongful act or the violation of someone's rights that leads to legal liability

1. The process of reviewing, accepting or rejecting applications for insurance
3. An entity that indemnifies against losses, provides benefits, or renders services
5. The person or organization that is protected by the insurance
6. A charge, security or encumbrance on property
7. The acquisition by an insurer of an insured's rights against any third party for indemnification of loss or other payment, to the extent that the insurer pays the loss