A financial arrangement to reduce risk. The purchaser of insurance pays a fixed amount, in return for which the seller agrees to pay some larger amount if an unlikely adverse event occurs. Source: Deardorffs' Glossary of International economics.
Browse by Subjects
all in rate
American Municipal Bond Assurance Corporation (AMBAC)
Bank Insurance Fund (BIF)
period cost
See All Related Terms »

nominal ledger
investment turnover
carriage outwards
real earnings
full production costs