Types of insurance

Personal lines and commercial lines are the two major categories of insurance coverage. Personal lines cover individuals and families while commercial lines protect business firms, nonprofit organizations and government agencies. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another in exchange for a payment. Any risk that can be quantified can potentially be insured. Life insurance, health insurance and property and casualty insurance are several types of insurance that are available today. An insurer, or insurance carrier, is a company selling the insurance. It can be classified according to its organizational form such as stock insurers, mutual insurers, reciprocal of exchanges and Lloyd’s of London. A stock insurer is an incorporated insurer with its capital divided into shares and owned by its shareholders. Its objective is to maximize stockholders ' profit by leveraging the value of stock. Mutual insurers on the other hand, are corporation owned by the policyholders who elect board of directors and appoint executive officers to manage the company. The board of directors of this corporation…

There are many different types of insurances for people to have guaranteed safety as they live their lives. Some of the main social insurances are Social Security, Medicare, and Unemployment. Social Security is the insurance that you get when you retire or when you become disabled. It is supposed to help them and their families maintain their basic needs of living. Social Security is very common. It shows that one out of every four households get money from Social Security. There is not a…

Escalating Sanctions scheme will also be given. Drivers caught driving with alcohol for the first time will have their licence suspended for 30 days. For driver’s second occurrence, in a five-year period, they will be suspended for 90 days. For driver’s third occurrence, in a five-year period, the novice portion of your driver’s licence will be cancelled. 4. There are many types of insurance in Ontario. In Ontario, there are some insurance that are mandatory and others are optional. a) Vehicle…

When is the right time to purchase a home? Buying a home is a huge financial decision and moment in your life. It’s the “American Dream” to own a home with a white picket fence but it can also become an American nightmare if you are not prepared. There are three major expenses that go in to buying and maintaining a home. Your on-going costs, closing cost and down payment. Your on-going costs are the the monthly mortgage payments along with the taxes, insurance and maintenance cost of the home.…

you need to purchase casualty insurance, or that you need property and casualty insurance, it is important that you understand what specific type of insurance you are actually being advised to purchase. The term casualty insurance, as well as property insurance, actually applies to a broad range of different types of insurance. Here is a brief overview of what exactly is meant by property and casualty insurance, and all the forms of these two insurances that are available to you. What Property…

like superheroes, insurance companies can protect you from loss by covering your assets. Insurance carriers around the world provide service to policyholders, guaranteeing coverage to both businesses and homeowners. In order for a company or family to be insured there must be a viable risk in order to provide service. These elements incorporate a large number of insureds, no counterfeits, accidental loss, financial burden, affordable and calculable insurance, no catastrophes, and pure risk only…

Do you need insurance for a vehicle, but only need it for one day? Most policies for auto insurance will offer coverage for six months to a year. However, you may find that one day insurance will be a perfect option for your needs. You may want to review some of the basics and then decide if one day insurance is something you will need. The Nitty Gritty A one day insurance policy for a car is a form of short-term insurance. This means coverage is available only for a short amount of time. Do…

what is disability insurance and Types of Disability Insurance keyword: disability insurance disability insurance definition: disability insurance is also known as income protection insurance. Under this insurance insured income is protected in case of insured is disabled for longer period with no productive work. There is one more insurance type which is extremely important to consider beside health insurance. Assume that probability of temporary disabled is higher than dying during working…

People are exposed to all types of situations, once they leave the safety of their home. Some are very hazardous to their health. People realize the risk that they take everyday. Therefore, they look for a way to protect their family, home, other property, automobile, and even their pets. Insurance is a way to protect those valuable assets. The fact is that insurance provides peace of mind and is a way to provide financial help in damaging situations. Tesco is a leading provider of Insurance in…

to prepare before buying insurance for your business. It really isn 't hard to be ready for this important decision, if you take simple steps, like assessing the risks you face for your particular business, working with a reputable agent who knows your industry, and making sure you get enough coverage. Your insurance should be affordable and cover a risk your business can 't afford. One comparison would be a homeowner buys insurance to protect his home from fire, because he couldn 't afford to…