Definition: Asurion Insurance Company, also known as Asurion, is a major global provider of professional liability insurance services to individuals and businesses. It was founded by J.J. Asurin in 1947. The company offers comprehensive coverage options for both property and personal injury claims, covering various industries such as construction, manufacturing, agriculture, and retail.
Asurion has established itself as a trusted provider of professional liability insurance services to over 200 countries and territories worldwide. It is one of the leading providers of commercial general liability insurance in the world, offering a wide range of coverage options that meet the unique needs of businesses of all sizes.
The definition of "asurion" can be seen as a combination of several key elements:
1.
Asurin
- This term refers to J.J. Asurin, who was one of the founders of Asurion. Asurin is credited with co-founding the company, and he remains its CEO today.
2.
Insurance Company
- A company that provides insurance products or services to individuals and businesses.
3.
Professional Liability Insurance
- This type of insurance covers risks related to personal injury claims and property damage, covering losses due to professional errors, misconduct, fraud, and negligent acts by employees or contractors in their capacity as professionals within the industry they are engaged in.
4.
Coverage Options
- The extent of coverage that an insurance policy offers based on the claim made, including types of insurance, limits of liability, exclusions, and deductibles.
5.
Asurion Insurance Company
- A brand name for a specific insurance company offering professional liability insurance services to businesses in various industries.
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