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Insurance Policy
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claim (legal), claims which the insurer is law, legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Since insurance policies are standard forms, they feature boilerplate (text), boilerplate language which is similar across a wide variety of different types of insurance policies. Available through HeinOnline. The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer.Wollner KS. (1999). How to Draft and Interpret Insurance Policies. Casualty Risk Publishing LLC. In some cases, however, supplementary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance
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 loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Teamster
A teamster in American English is a truck driver; a person who drives teams of draft animals; or a member of the International Brotherhood of Teamsters, a labor union. In some places, a teamster was called a carter, the name referring to the bullock cart. Originally the term ''teamster'' meant a person who drove a team, usually of oxen, horses, or mules, pulling a wagon, replacing the earlier ''teamer''. This term was common by the time of the Mexican–American War (1848) and the Indian Wars throughout the 19th and early 20th centuries on the American frontier. Another name for the occupation was ''bullwhacker'', related to driving oxen. A teamster might also drive pack animals, such as a muletrain, in which case he was also called a muleteer or muleskinner. Today this person may be called an outfitter or packer. In Australian English, a teamster was also called a bullocker or bullocky and was sometimes used to denote a carrier. From the Revolutionary War at le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Umbrella Insurance
Umbrella insurance is a form of liability insurance that provides coverage when liability exceeds the limits of other insurance policies, such as auto insurance or homeowners insurance. It can also act as primary insurance for losses not covered by those underlying policies, distinguishing it from excess insurance, which typically only extends existing limits. When an insured individual faces liability, their primary policies pay up to their respective limits, and the umbrella policy covers any remaining amount, up to its own limit. Umbrella insurance is predominantly offered in the United States. Excess versus Umbrella While excess insurance similarly pays out after a primary policy’s limit is reached, key differences set it apart from umbrella insurance. Excess insurance typically operates as a "follow-form" policy, mirroring the coverage of the underlying policy and simply adding an additional limit stacked atop the primary one. In contrast, umbrella policies often provid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Directors And Officers Liability Insurance
Directors and officers liability insurance (also written directors' and officers' liability insurance; often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for alleged wrongful acts in their capacity as directors and officers. Such coverage may extend to defense costs arising from criminal and regulatory investigations or trials as well; in fact, often civil and criminal actions are brought against directors and officers simultaneously. Intentional illegal acts, however, are typically not covered under D&O policies. It has become closely associated with broader management liability insurance, which covers liabilities of the corporation itself as well as the personal liabilities for the directors and officers of the corporation. Background The insurance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home Insurance
Home insurance, also commonly called homeowner's insurance (often abbreviated in the US real estate industry as HOI), is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory. Additionally, homeowner's insurance provides financial protection against disasters. A standard home insurance policy covers the home and the belongings inside it. Overview Homeowner's policy is a multiple-line insurance policy, meaning that it includes both property insurance and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. This means that it covers damage to one's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Choice
The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption (as measured by their preferences subject to limitations on their expenditures), by maximizing utility subject to a consumer budget constraint. Factors influencing consumers' evaluation of the utility of goods include: income level, cultural factors, product information and physio-psychological factors. Consumption is separated from production, logically, because two different economic agents are involved. In the first case, consumption is determined by the individual. Their specific tastes or preferences determine the amount of utility they derive from goods and services they consume. In the second case, a producer has different motives to the consumer in that they are focussed on the profit they make. This is explained further by producer theory. The models ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Association Of Insurance Services
The American Association of Insurance Services (AAIS) is an American national trade association for the insurance industry 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 loss, damage, or injury. It is a form of risk management, primarily used to protect ... in the United States. AAIS offers details on product creation, statistical research, compliance, administrative paperwork, and technical preparation to more than 700 Member insurance agencies. AAIS has been a licensed statistical agent in more than 50 jurisdictions, collecting data that helps Members meet regulatory statistical reporting responsibilities. AAIS also serves as an intermediary between carriers and insurance regulators. Since its inception, AAIS has evolved into the modern insurance advisory community governed by its Members. History AAIS was founded in 1936 as The Mutual Marine Conference, focus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Services Office
Insurance Services Office, Inc. (ISO), a subsidiary of Verisk Analytics, is a provider of statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace.About ISO Verisk Analytics. Accessed September 1, 2015. Headquartered in , |
Presentation Folder
A presentation folder is a kind of folder that holds loose papers or documents together for organization and protection. Historically, two of the biggest end markets for presentation folders have been marketing, where they may be used as proposal covers or media kits, or in education. Presentation folders usually consist of a sheet of heavy paper stock or other thin, but stiff, material which is folded in half with pockets in order to keep paper documents. Presentation folders function much like that of a file folder for organizational purposes. They can be either printed or plain and can be used, amongst other things, as a tool for business presentations to customers to aid in the sales process. Uses of presentation folders Presentation folders come in many different styles to suit a variety of purposes. Most all are produced by a company to provide marketing for a product (business) and/or service, but they can fulfil other functions. A few examples would be a company produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boilerplate (text)
Boilerplate text, or simply boilerplate, is any written text ( copy) that can be reused in new contexts or applications without significant changes to the original. The term is used about statements, contracts, and source code, and is often used pejoratively to refer to clichéd or unoriginal writing. Etymology "Boiler plate" originally referred to the rolled steel used to make boilers to heat water. Metal printing plates ( type metal) used in hot metal typesetting of prepared text such as advertisements or syndicated columns were distributed to small, local newspapers, and became known as 'boilerplates' by analogy. One large supplier to newspapers of this kind of boilerplate was the Western Newspaper Union, which supplied "ready-to-print stories" that "contained national or international news" to papers with smaller geographic footprints, which could include advertisements pre-printed next to the conventional content. Boilerplate language In contract law, the term "boilerpla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Preferred Provider Organization
In U.S. health insurance, a preferred provider organization (PPO), sometimes referred to as a participating provider organization or preferred provider option, is a managed care organization of medical doctors, hospitals, and other health care providers who have agreed with an insurer or a third-party administrator to provide health care at reduced rates to the insurer's or administrator's clients. Overview A preferred provider organization is a subscription-based medical care arrangement. A membership allows a substantial discount below the regularly charged rates of the designated professionals partnered with the organization. Preferred provider organizations themselves earn money by charging an access fee to the insurance company for the use of their network, unlike the usual insurance with premiums and corresponding payments paid either in full or partially by the insurance provider to the medical doctor. They negotiate with providers to set fee schedules and handle dispute ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indemnity
In contract law, an indemnity is a contractual obligation of one party (the ''indemnitor'') to compensate the loss incurred by another party (the ''indemnitee'') due to the relevant acts of the indemnitor or any other party. The duty to indemnify is usually, but not always, coextensive with the contractual duty to "hold harmless" or "save harmless". In contrast, a "guarantee" is an obligation of one party (the ''guarantor'') to another party to perform the promise of a relevant other party if that other party defaults. Indemnities form the basis of many insurance contracts; for example, a car owner may purchase different kinds of insurance as an indemnity for various kinds of loss arising from operation of the car, such as damage to the car itself, or medical expenses following an accident. In an agency context, a principal may be obligated to indemnify their agent for liabilities incurred while carrying out responsibilities under the relationship. While the events giving ris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
