(~s)
Frequency: The word is one of the 1500 most common words in English.
1.
Insurance is an arrangement in which you pay money to a company, and they pay money to you if something unpleasant happens to you, for example if your property is stolen or damaged, or if you get a serious illness.
The ~ company paid out for the stolen jewellery and silver...
We recommend that you take out travel ~ on all holidays.
N-VAR: oft N n
2.
If you do something as ~ against something unpleasant happening, you do it to protect yourself in case the unpleasant thing happens.
The country needs a defence capability as ~ against the unexpected.
N-VAR: usu N against n