Day: June 16, 2020

Insurance Definition

What Is Insurance?

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured.

Insurance policies are used to hedge against the risk of financial losses, both big and small, that may result from damage to the insured or her property, or from liability for damage or injury caused to a third party.

How Insurance Works

There is a multitude of different types of insurance policies available, and virtually any individual or business can find an insurance company willing to insure them—for a price. The most common types of personal insurance policies are auto, health, homeowners, and life. Most individuals in the United States have at least one of these types of insurance, and car insurance is required by law.

Key Takeaways

  • Insurance
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BMO Harris – Personal Banking, Business Banking, Loans & Investing

Banking products and services are subject to bank and credit approval. BMO Harris Bank N.A.
Member FDIC.

Notice to Customers

To help the government fight the funding of terrorism and money laundering activities, federal law (USA Patriot Act (Title III of Pub. L. 107 56 signed into law October 26, 2001)) requires all financial organizations to obtain, verify and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask you to provide a copy of your driver’s license or other identifying documents. For each business or entity that opens an account, we will ask for your name, address and other information that will allow us to identify the entity. We may also ask you to provide a copy of your

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Definition of Personnel at Dictionary.com

[ pur-suhnel ]

/ ˌpɜr səˈnɛl /


noun

a body of persons employed in an organization or place of work.

(used with a plural verb) persons: All personnel are being given the day off.

QUIZZES

LET’S HAVE A WORD OF THE DAY QUIZ KLATSCH!

Grab your coffee and get after this quiz on the Words of the Day from June 8 to June 14!

Question 1 of 7

alligate

usage note for personnel

2. Some usage guides object to the use of personnel as a plural. However, this use is well established and standard in all varieties of speech and writing. The use of personnel with a preceding number is largely

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