Underwriter - The person who reviews the application for insurance and decides if the applicant is acceptable and at what premium rate. Underwriting - The. INSURANCE definition: 1. an agreement in which you pay a company money and they pay your costs if you have an accident. Learn more. An insurance coverage limit is the maximum amount your insurance company will pay or reimburse for a covered claim. The dollar amount and its associated. Insurance coverage is the amount of risk or liability that is covered for an individual or entity by way of insurance services. Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. In exchange.
Insured is a person or legal entity whose financial losses are covered by the insurance policy. Under general and health insurance policies the insured is. Having health insurance usually means you pay a premium every month and, in return, your health plan pays part of the bill when you need a service from a. A form of accident insurance, which indemnifies or pays a stated benefit to insured or his/her beneficiary in the event of bodily injury or death due to. An insured is the individual or business covered under an insurance policy. If you're the insured, you're eligible to receive financial benefits after filing a. For example, it helps with the cost if you are in the hospital, and also when you get a routine check-up. This is great because it means you can take care of. Glossary of Insurance Terms · Peril: The cause of a possible loss. · Policy: The written contract of insurance. · Policy Limit: The maximum amount a policy will. An insurance policy is a written contract between the policyholder (the person or company that gets the policy) and the insurer (the insurance company). The. The term refers to a variety of insurance policies, ranging from those that cover the costs of doctors and hospitals to those that meet a specific need—like. In insurance, the insurance policy is a contract between the insurer and the policyholder, which determines the claims which the insurer is legally required. Your home insurance policy is a legal contract of the promise that an insurance company gives you for a specified period of time (usually one-year) to pay. Insured - The person or organization covered by an insurance policy. Insurer - The insurance company. Interpleader - This is a procedure when conflicting claims.
Liability protection · Liability is legal protection for you in case of lawsuits for bodily injury or property damage that you or family members cause to other. Glossary of Insurance Terms · Peril: The cause of a possible loss. · Policy: The written contract of insurance. · Policy Limit: The maximum amount a policy will. Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain. Deductible The amount which you are responsible to pay before benefits from the insurance company are payable. You may choose a higher deductible to lower your. Your home insurance policy is a legal contract of the promise that an insurance company gives you for a specified period of time (usually one-year) to pay. Admitted Company - an insurance company licensed to do business in a state(s), domiciled in an alternative state or country. Advance Premiums - occur when a. Insurance is a financial safety net, helping you and your loved ones recover after something bad happens — such as a fire, theft, lawsuit or car accident. When. Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. In exchange. An auto insurance policy is a contract between you and an insurance company. You agree to pay the cost of the insurance policy, called a premium.
Simply put, a deductible is the amount of money that the insured person must pay before their insurance policy starts paying for covered expenses. For example. Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific contingencies and/or perils. The amount paid by the insurance company to the producer as compensation for selling and servicing an insurance policy. Covered Loss. Any claim that is covered. Insurance coverage is the amount of risk, liability, or potential loss that is protected by insurance. It helps individuals recover from financial losses as a. Direct and accidental damage to an insured property or automobile, which is the basis for filing a claim. Loss assessment coverage. Coverage providing.
PIP is a coverage in which the auto insurance company pays, within the specified limits, the medical, hospital and funeral expenses of the insured person. An insurance claim is a formal request from the policyholder to their insurance company asking for payment after a covered incident, such as a hospital stay.
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