Home > Glossary



To agree to insure. An insurer accepts a risk when an underwriter or agent agrees to insure it, and the essential elements of the insurance contract are known and agreed to by the parties to it. Even though a policy has not been issued, once the risk is "accepted," the insurer is obligated to pay a loss that occurs subject to the terms and conditions of the coverage agreed upon.

Get started IRMI Sidebar ad
Agricon sidebar banner


Social Media

User ID: Subscriber Status:Free