Insurance is a form of risk management that provides financial PROTECTION against losses. INDEMNITY is a type of insurance that compensates the insured for losses or damages incurred. WARRANTY is a GUARANTEE given by the insurer to the insured that certain conditions will be fulfilled. ASSURANCE is a type of insurance that provides a GUARANTEE of payment in the event of death or disability. GUARANTEE is a promise made by the insurer to the insured that certain conditions will be met. SECURITY is a type of insurance that provides PROTECTION against theft or damage. PROTECTION is a type of insurance that provides COVERAGE against potential losses. COVER is a type of insurance that provides financial PROTECTION against losses. COVERAGE is a type of insurance that provides PROTECTION against potential losses. TERM is a type of insurance that provides COVERAGE for a specific period of time. FLOOD is a type of insurance that provides PROTECTION against losses caused by flooding.