Understand the concept of a parent company, the oldest company out of a group of insurers, its role, and its importance in the insurance industry.
Learn about captive agents in general insurance terms. These agents exclusively represent one insurance company, offering specialized knowledge and dedicated service to clients.
Learn about loss adjustment expense in general insurance terms. Understand the costs associated with adjusting a claim, excluding the actual amount of the loss.
Understand the diverse meanings of 'Net Premium' in general insurance, including premiums after agent commissions, expected future losses, and deducted dividends.
Learn about precertification authorization in general insurance, its importance, and how it helps in managing treatment costs effectively.
Explore the essentials of commercial credit insurance, a crucial coverage that protects businesses by insuring against the risk of debtors defaulting on their financial obligations.
Learn about the role of an insurance adjuster, a professional responsible for investigating claims, determining liability, and assessing damages. Understand their duties, including interviews, property inspections, and record reviews.
Discover what occupational hazards are and how they impact the likelihood of sickness, accidents, or death in various professions.
Learn about pro rata, a term used in insurance to describe the allocation of payouts between beneficiaries or the sharing of liability between insurers. This guide explains its significance in insurance contracts.
Learn about the brokerage department within an insurance company, including its role in placing insurance with brokers and its importance in general insurance operations.
