Collins Russian Dictionary 2nd Edition © HarperCollins Publishers 2000, 1997:
insurance [ɪnˈʃuərəns] n страхова́ние
life/fire insurance страхова́ние жи́зни/на слу́чай пожа́ра
to take out insurance (against) брать*(взять*perf) страхо́вку (от +gen)
* is used to mark translations which have irregular inflections. The Russian-English side of the dictionary gives inflectional information.