The act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved (Dictionary.com).
Bimé, from bim "fear, danger" (variant bâk "fear, hesitation"); Mid.Pers. bīm "fear, fright, dread;" Av. b(a)ii- "to fear;" cf. Skt. bhayi- "to fear," bhīmá- "terrible;" Lith. bijoti(s), Latv. bîtiês "to fear, be afraid;" O.H.G. biben "to shiver;" PIE *bheiH2- "to fear" (Cheung 2007).