1. the act, system, or business of insuring property, life, one’s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved.
2. coverage by contract in which one party agrees to indemnify or reimburse another for loss that occurs under the terms of the contract.
3. the contract itself, set forth in a written or printed agreement or policy.
4. the amount for which anything is insured.
5. an insurance premium.
verb (used with object), enÂ·sured, enÂ·surÂ·ing.
1. to secure or guarantee: This letter will ensure you a hearing.
2. to make sure or certain: measures to ensure the success of an undertaking.
3. to make secure or safe, as from harm.
4. insure ( defs 1â€“3 ) .
A SELF insured perspective to consider.