Definition

The company that promises to pay you when disaster strikes, in exchange for regular payments that feel like protection money for responsible adults. They employ armies of actuaries to calculate risk and legions of adjusters to find reasons why maybe they shouldn't pay after all. Think of them as professional bet-takers who are wagering that your house won't burn down.

Example Usage

After the flood, the homeowner spent weeks arguing with her insurer about whether water damage was really covered under her policy.

Source: Wiktionary via Free Dictionary API

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