definition
strict definition
insurance
Companies that provide insurance protection or supporting services for the insurance industry.
Insurance is the business of mitigating risk by pooling large amounts of financial assets in order to spread risks in a particular area of activity. Companies which provide this service or tangential supporting services are included in this category.
An insurance agent sells the coverage, while an insurance company provides the risk protection. One company can perform both tasks.
Reinsurance concerns the distribution of risks associated with insurers. These supporting and risk-bearing roles belong to the industry even when they do not involve a public service branch.
More specific definitions
3 sub-definitions-
insurance agent
An insurance vendor that has arranged property or construction coverage for a particular property. -
insurance company
A company that provides insurance protection by spreading financial risk across many subscribers. -
reinsurance company
A company which distributes financial risk among insurers to stabilize their business.
Related definitions
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construction
Companies and firms involved in the physical work of building and altering structures. -
design
Firms, organizations, or individuals contributing creatively to functional and aesthetic planning. -
education
Organizations devoted to teaching or systematic research that increases knowledge in a particular field. -
engineering
Firms, companies, and entities which perform services applying mathematics and science to practical endeavors. -
finance
An entity involved in supplying, directing, or managing money, capital, or financial instruments. -
government
Groups and branches belonging to the legally ruling authorities of any geographic area. -
information technology
Companies which build devices, create software, and provide services in computer and related information technology industries. -
law and taxes
Companies and individuals providing legal or tax consultation, representation, and related professional services. -
maintenance
Companies contracted to keep objects, products, or properties in working order through upkeep or repair. -
manufacturing
Companies and organizations involved in producing supplies and assembled goods. -
marketing
Firms and organizations promoting goods or services through advertising, publicity, or related media work. -
real estate
A company or other entity with ownership, management, or controlling interests in land and structures. -
retail and services
Businesses providing direct customer services or operating customer-facing facilities at a particular site. -
sports
An organized team, company, or other group involved in athletic training, competition, or exercise.