insurance contract Definition | Business Dictionaries from AllBusiness.com

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Business Definition for: insurance contract

insurance contract

legally binding unilateral agreement between an insured and an insurance company. In exchange for premium payment(s) the company covers stipulated perils.

Copyright © 2000, 1995, 1991, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.

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