ASSURANCE, in Law. See SECURITY.
ASSURANCE, Or INSURANCE, in Commerce. See INSURANCE.
Policy of ASSURANCE, is a Contract whereby one or more Persons oblige themselves to make good any Damages which a Ship, a House, or the like, may undergo, by Sea, Fire, or the like Dangers.—The Nature and Laws hereof see under the Article of Policy of Assurance.
We have several Offices of Assurance from Fire—As, the Sun- Fire Office, the Hand-in-Hand Fire Office; the Phoenix Office, &c.
some for Houses, others for Goods; and some for both.
We have also Assurances for Life, in Virtue whereof, when the Person assured dies, a Sum of Money becomes payable to the Person in whose Favour the Policy of Assurance was given. See ANNUITY, &c.
ASSURANCE, in Logic, See CERTAINTY, EVIDENCE, DEMONSTRATIONS, &c.
