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
blanket fidelity bond
See All Related Terms »
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):