INSU'RANCE, noun [from insure.] The act of insuring or assuring against loss or damage; or a contract by which one engages for a stipulated consideration or premium per cent to make up a loss which another may sustain. insurance is usually made on goods or property exposed to uncommon hazard, or on lives. Insurance company, a company or corporation whose business is to insure against loss or damage.
Source: Webster's 1828 American Dictionary ↗ · public-domain · returned verbatim, no AI