Learn about the role and function of Salvage Corps in property insurance, aimed at minimizing property damage during and after a fire incident.
Learn about Section 125 plans in health insurance, a flexible benefit plan that allows pre-tax employee contributions. Discover how these plans can optimize your health benefits.
Learn about Short Term Disability Insurance, a type of policy that covers disabilities lasting from 13 to 26 weeks. Understand its benefits, coverage details, and how it fits within Health Insurance.
Explore the concept of Small Group Pooling in health insurance, where small businesses combine into one pool to achieve more accurate rates and improved coverage options.
Explore the concept of solvency in the insurance industry, which measures an insurer's ability to cover liabilities and meet financial requirements.
Explore the impact of a sonic boom on property damage and understand the coverage provided by homeowners and commercial property insurance for losses caused by shock waves from supersonic travel.
Learn about the concept of standard risk in life insurance, which refers to an average risk level based on typical rates. Understand its impact on premiums and policy considerations.
Learn about subrogation, a legal principle allowing an insurer to assume the rights of the insured to collect from a third party. Discover its applications and exceptions in insurance.
Learn about subrogation release in general insurance - a mechanism where the insurer gains the insured's rights to collect from an entity responsible for the loss. Understand its implications and how it operates.
Learn about swap maternity in health insurance. Understand how pregnancy coverage works under a group health plan and what happens if the plan terminates.
Learn about Temporary Total Disability (TTD), a condition where an employee is expected to fully recover from a disability but cannot work during the recovery period. Explore its implications in Health Insurance and Workers Compensation.
Explore the Average Earnings Clause in Life Insurance, outlining how disability payments can be adjusted based on beneficiary income. Vital information for the first two years post-disability payments.
Learn how the benefit formula in health insurance calculates the amount of benefits an insured person is entitled to under an employee benefit plan.
Learn about the co-pay provision in health insurance, which defines the portion of a claim paid by the insurer and the insured.
Learn about the cost of insurance in life insurance and how it is calculated. Understand the net cost valuation to make an informed decision about life insurance policies.
Learn about the 'Date of Issue' in general insurance, which is the date when the policy was created by the insurer, and how it may differ from the effective date.
Explore what a deductible clause is in general insurance terms and how it affects your insurance policy. Learn everything about deductible amounts and clauses in insurance contracts.
Discover the Fair Access to Insurance Requirements (FAIR) Plan, a federal government initiative ensuring property owners can access insurance coverage, along with steps to obtain insurance through a FAIR plan.
Explore the significance of the incontestable clause in health and life insurance policies. Learn how this stipulation limits the insurer's time to dispute policy information, protecting policyholders from denied claims due to preexisting conditions or health misrepresentations.
Explore the Joint and Survivorship Option in life insurance policies. Discover how this annuity disbursal method benefits policyholders and their families.
Explore the Keogh Act Plan (HR-10), designed for self-employed individuals to set up retirement plans with tax benefits similar to corporate pensions. Learn about regulations and benefits.
Learn what the Medical Information Bureau is and how it impacts health and life insurance. Discover how insurers use this bureau to access coded health condition information on individuals.
Learn about the physical exam and autopsy clause commonly found in health insurance policies. Understand its implications and what it means for policyholders and their families.
Learn about the policy year, a 12-month period between the policy's anniversary dates in general insurance, crucial for coverage and claim considerations.
Learn about the policyholder in general insurance terms, including definitions and roles. A policyholder, also known as a policy owner or insured, is the person covered by an insurance policy.
Learn about the retainer clause in reinsurance and how it specifies the portion of insurance the ceding company retains.
Explore what a representative does in the context of general insurance, including their responsibilities and role as agents or salespersons.
Learn about a solicitor in general insurance, their responsibilities, licensing requirements, and limitations in issuing coverage.
Get a comprehensive overview of the Summary Plan Description (SPD) in health insurance, detailing all available benefits under a specific plan.
In the realm of real estate, the term 'Grantor' refers to the individual selling the property. Explore the significance of the grantor in property transactions.
Dive deep into the unpaid premium provision in health insurance, an important clause that permits unpaid premiums to be deducted from claim payments. Learn how this provision can impact policyholders and claims.
Learn about the role of a third party payor in health insurance, such as Medicare or Blue Cross/Blue Shield, and their importance in healthcare coverage.
Learn about triage in health insurance, a critical system used to rank patients based on the severity of their injuries or illnesses, ensuring that those in urgent need receive prompt care.
Explore the concept of Underlying (Reinsurance) in the insurance realm. Learn how it represents the total amount of coverage for a risk before additional reinsurance applies.
Learn about Unemployment Compensation Disability Insurance, a health insurance option covering non-workplace accidents and sickness. Does not encompass injuries covered by workers' compensation.
Explore the mandated uniform provisions in health insurance, set forth by the National Association of Insurance Commissioners (NAIC), to understand individual medical policy conditions.
Explore the concept of vested liability in pensions, explaining the non-forfeitable value of a person’s retirement benefits at present.
Learn about warranties in insurance applications, their importance, and how inaccuracies can void contracts. Get detailed insights on legal implications.
Explore Water Damage Legal Liability Insurance that covers losses to neighbors' property caused by water damage. Learn about its applications and protections.
Understand the role of an Underwriter in general insurance terms. Learn how they assess risks and establish rates and coverage amounts to protect both the insurer and insured.
Understand the concept of underwriting profit or loss in general insurance. Learn how insurers calculate the profit gained or loss experienced from policies and premiums that exceed losses and costs.
Learn about unemployment insurance, a government-regulated product that provides financial support for individuals who have lost income due to involuntary unemployment.
Learn about the Unfair Trade Practices law in insurance, which exists at the state level to prevent unfair or deceptive practices by insurance companies.
Understand the Universal Mercantile System in property insurance, a rating procedure now being replaced by modern systems for evaluating property insurance risks.
Discover how a Value Reporting Form in Property Insurance helps businesses manage varying inventory values throughout the year with accurate insurance adjustments.
Learn about the term 'Vendee' in general insurance, which refers to the buyer of a property. Understand its significance in property transactions and insurance policies.
Explore Voluntary Compensation Insurance, a type of coverage providing benefits where traditional workers compensation may not apply. Learn how it fills coverage gaps.
Learn about the waiver of premium provision in life insurance, which ensures coverage continuation without premium payments if the insured becomes totally disabled.
Explore the significance of a warranty policy in property insurance, which guarantees the continuity of a company's warranty terms, backed by a reputable insurer.
Understand the Warsaw Convention, an agreement that establishes liability limits for companies related to bodily injury or death on international flights.
Understanding the role of a Watchperson (Criminal) in insurance, responsible for safeguarding insured premises and property.
Understand the wear and tear exclusion in property insurance and how it makes losses due to normal wear and tear ineligible for coverage.
Learn about viatical settlement companies, how they assist insurance companies in settling with policyholders who are terminally ill, and the importance of viatical settlements in life insurance.
Discover the importance of the Work Program clause in contract bond reinsurance, detailing its connection to the principal’s total amount of work.
Discover the essentials of Accidental Death and Dismemberment (AD&D) Insurance, a policy that provides financial benefits upon accidental death or incapacitating injury.
Learn about adjustable life insurance, a flexible life insurance policy that allows changes in policy amount, premium, and period to suit your needs.
Learn about advance funding in pensions, a crucial method where money is designated to fund future retirement benefits. Understand its importance in securing financial stability for retirees.
Discover the meaning of Aggregate Limit in general insurance, highlighting its definition, importance, and coverage framework for insured individuals over a specified period.
Learn about alien insurers, which are insurance companies formed under the laws of a different country than the one they operate in. Understand their role, regulations, and impact in the insurance market.
Learn about ancillary benefits in health insurance, including coverage for hospital stay charges such as supplies, X-rays, and diagnostic tests. Understand how these benefits can support your healthcare needs.
Learn the importance and details of an annual statement in general insurance terms, a mandatory financial report submitted by insurers to state insurance departments.
Understand what an appearance allowance in vehicle insurance is, how it compensates for minor vehicle damages, and how it benefits the insured.
Learn about asset valuation in the context of general insurance, focusing on how net profit or loss is calculated after deducting insurance and expenses.
Learn about the concept of Association or Syndicate Pool in General Insurance, where a group of insurers collaborates to write large risks and shares the premiums and expenses.
Learn about Assumption Reinsurance, a type of reinsurance where the re-insurer assumes total responsibility for an insurance policy from the original insurer. Understand how the policy transfer process works and its implications.
Learn about Automobile Liability Insurance, a mandatory coverage that protects you from legal responsibility for damages caused by your vehicle. Discover its importance and state law requirements.
Learn about Bailee’s Customers Insurance, a property insurance that covers the bailee against potential hazards like fire, theft, robbery, and leaks while temporarily in possession of another's property.
Learn about the Bankers Blanket Bond insurance, a crucial shield for banks against fraudulent acts by employees and theft or burglary by non-employees.
Learn the meaning of 'Beneficiary' in general insurance terms: the person designated to receive the benefits of a policy. Understand its importance and role in insurance policies.
Learn about benefit triggers in health insurance. Understand the specific conditions that must be met for benefits to be paid out. Comprehensive guide to help you navigate the requirements.
Understand what a binder is in general insurance terms. Discover how binders provide temporary coverage before a contract is finalized or premiums are paid.
Learn about the concept of a Blanket Contract in health insurance. Explore the definition of blanket insurance and its importance in providing coverage for groups.
Understand the ins and outs of blanket medical expense insurance, a policy that covers various medical costs, with specific exclusions. Learn how it provides broad healthcare protection.
Discover the specifics of Blue Shield health insurance, which covers medical and surgical costs. Learn how it complements Blue Cross for complete healthcare coverage.
Learn about Bridge Insurance, a crucial component of Property Insurance, that offers protection for structural bridges against damage or destruction. Get insights on coverage and benefits.
Learn about the role and responsibilities of a Brokerage General Agent in the insurance industry. Understand how they facilitate the sale of insurance products through brokers and appoint brokers on behalf of the company.
Understand the role and responsibilities of a Brokerage Supervisor in general insurance, including the authorization to designate insurance company brokers.
Learn about Business Crime Insurance, which shields your business assets from forgery, robbery, and embezzlement risks. Secure your business with the right coverage.
Explore the concept of business risk, its implications on a company’s earnings, and the importance of managing such risks in a competitive market.
Learn about captive insurance companies, formed exclusively to insure a parent company. Understand benefits, structure, and regulations.
Understand what a Cease and Desist Order is in legal terminology. Learn how this court order requires an entity to halt specific practices and how it relates to insurance regulations.
Learn about the Certified Financial Planner designation, a prestigious certification earned by passing national exams set by the International Board of Standards and Practices for Certified Financial Planners.
Learn about the change of beneficiary provision in general insurance policies, allowing insured individuals to alter beneficiaries unless irrevocable.
Understand the role of the claim department within an insurance company and how they assess whether claims will be paid.
Understand the concept of a Claim Report in general insurance, detailing the specifics of a claim. Learn how agents compile these reports and their significance.
Learn about clauses in general insurance terms, which address specific issues within a contract. Discover how these provisions impact your insurance policies.
Learn about collection fees in life insurance, a fee paid to insurance agents for collecting policy premiums. Understand how these fees impact your insurance policy.
Learn about the Combined Single Limit in general insurance, where bodily injury and property damage liabilities are covered as one single sum. Understand how this impacts your coverage.
Learn about commercial forgery policy insurance, a vital protection mechanism for businesses against losses from unwittingly accepting forged checks.
Explore the concept of commutation right in life insurance, allowing beneficiaries to exchange a series of payments for a lump sum. Learn its implications and benefits.
Learn about Condominium Insurance, a homeowners insurance policy covering various perils like fire, robbery, vandalism, smoke, and explosion to protect your property.
Learn about Comprehensive Medicare Supplement policies that cover Medicare deductibles and co-insurance amounts for treatments.
Learn about Comprehensive Personal Liability Insurance, a type of insurance that covers individuals in their private lives against liability from accidents. Explore its benefits and coverage.
Explore the concept of concealment in legal terminology, focusing on the implications of concealing a material fact and its impact on various legal scenarios.
Learn about the concept of consideration in general insurance, where the premium paid by the insured and the future payout of claims by the insurance company form the basis of the contract.
Learn about the contract of adhesion in insurance, where terms cannot be negotiated by the insured. Understand its implications in insurance agreements.
Learn about Contractual Liability Insurance, a policy that covers liabilities assumed under a written contract, protecting businesses from financial loss.
Learn how a conversion fund supplements life insurance or limited payment life policies to increase cash dispersed at retirement for a steady monthly income.
Understand what a coupon policy in life insurance entails. Learn how coupons attached to the policy can be used when paying the annual premium.
Discover how crash coverage in aviation insurance protects your aircraft from damage due to a crash. Learn about its importance and whether it's optional in an aviation policy.
