What’s the difference between a premium and a deductible?
What's the difference between a premium and a deductible?A premium is like your monthly car payment. You must make regular...
BUSINESS
What risk Cannot be insured?
What risk Cannot be insured?An uninsurable risk is a risk that insurance companies cannot insure (or are reluctant to insure)...
What are the 7 main types of insurance?
What are the 7 main types of insurance?7 Types of Insurance are; Life Insurance or Personal Insurance, Property Insurance, Marine...
When should you drop full coverage?
When should you drop full coverage?A good rule of thumb is that when your annual full-coverage payment equals 10% of...
What does NAIC stand for?
What does NAIC stand for?The National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is the U.S....
What is the waiting period for business income coverage?
What is the waiting period for business income coverage?72 hours 2. Understand the time deductible. Most BI coverage comes with...
Is Lae part of loss ratio?
Is Lae part of loss ratio?Net Incurred Losses and LAE Net Contributions The loss and LAE ratio (or simplified as...
What are the two types of marine insurance?
What are the two types of marine insurance?The three most common types of marine insurance are hull, cargo, and protection...
What is not covered under Coverage B?
What is not covered under Coverage B?What Coverage B Doesn't Cover. While your Coverage B can offer a lot of...
What is the difference between insurer and reinsurer?
What is the difference between insurer and reinsurer?In simple terms, insurance is the act of indemnifying the risk, caused to...
