Etymology
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insurance (n.)

1550s, "engagement to marry," a variant of ensurance "an assurance, pledge, guarantee," from Old French enseurance "assurance," from ensurer, from en- "make" (see en- (1)) + sur "safe, secure, undoubted" (see sure (adj.)).

Commercial sense of "security against loss or death in exchange for payment" is from 1650s. Assurance was the older word for this specific sense (late 16c.). Compare insure.

updated on December 13, 2015

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Definitions of insurance from WordNet

insurance (n.)
promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company;
insurance (n.)
written contract or certificate of insurance;
Synonyms: policy / insurance policy
insurance (n.)
protection against future loss;
Synonyms: indemnity
From wordnet.princeton.edu, not affiliated with etymonline.