insurance

9. Insurers can buy cover from other insurers to protect themselves against large (or unexpected) losses.
10. A fall in the value of assets / belongings over time, for example due to wear and tear.
12. A person or firm that places its customers’ insurance with an insurer.
13. Underinsurance is when your insurance cover, or sum insured, is less than the value at risk.
15. The insurance cover as agreed between the insurance company and customer.
17. This is the process of removing harmful carbon emissions from the economy.
20. An insurer’s overall profit and loss, calculated as the underwriting result plus investment income.

1. A certificate which gives the person holding it the right to buy shares at a given price.
2. Money paid by an insurer when a claim is accepted.
3. Recovery of all or part of the value of an insured item on which a claim has been paid.
4. Where the customer stops paying premiums or a policy that is not renewed.
5. This is a tax-efficient way to save money for when you have retired, or for later life when you are no longer able to earn.
6. The price (or premium) of insurance.
7. The person who is applying for cover.
8. The process of closing down a company by paying its debts and distributing any money left over.
11. A peril is the cause of damage, such as earthquakes, flooding, storm or fire.
14. Net is the value of something minus any costs related to it.
16. Injury or damage to an insured property or person as a result of an accident or misfortune.
18. This is someone who takes responsibility for another person's debts or promises, and guarantees that they will be paid or undertaken.
19. This is additional cover added to an existing policy.