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
accident insurance
green card
death in service
Federal Housing Administration (FHA)
See All Related Terms »

book to bill ratio
Public Trustee
disposable personal income
current liabilities