Unsurance... "Urban" word of the day
Could apply also to maintance contracts also... unmaintenance?
- I like this expression, and YOU...
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unsurance
July 22 311 up, 528 down
Coverage by contract whereby the party which has undertaken to guarantee protection or coverage against loss by a specified peril reneges said coverage when protection or action becomes necessary.
I had to take little Throckmorton to a specialist for his asthma, but the visit was not covered by our health unsurance policy.
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insurance
1553, "engagement to marry," a variant of ensurance (see ensure). Commercial sense of "security against loss or death in exchange for payment" is from 1651. Assurance was the older term for this (late 16c.).
>>> http://www.etymonline.com
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured or policyholder is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
>>> http://en.wikipedia.org/wiki/Insurance
