Explore the fundamentals of a contract of insurance, where the insurer agrees to provide benefits or services to the insured. Understand its legal significance and key components.
Understand the concept of express authority in general insurance, wherein the insurer grants authority to the agent through an agency agreement.
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.
Comprehensive definition of 'Surplus' in the context of general insurance, referring to the assets of an insurer after deducting liabilities.
Discover the definition of 'Carrier' in general insurance terms. Learn why 'Insurer' is more commonly used and the distinctions between insurance carrier and transportation carrier.
Learn about the role of an insurer, also known as a carrier or company, in an insurance contract. Discover how insurers indemnify losses for insured parties.
