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Insurance: Definition, How It Works, and Main Types of Policies

Types of Insurance The National Association of Insurance Commissioners (NAIC) compiles an index of complaints about insurance companies. This information comes from state insurance...

Insurance Claim Definition

At least for your first speeding ticket, many companies will not increase your prices. The same goes for a minor automobile accident or a small claim against your homeowner's insurance...

Auto Insurance: Definition, How It Works, Coverage Types & Costs

Getting auto insurance can offer reassurance in case you're... auto insurance company; the company then pays all or most of... Key Takeaways Car insurance is designed to protect you against...

Health Insurance: Definition, How It Works

However, they do set lower rates for using in-network practitioners and services.12 Insurance companies may deny coverage for certain services that were obtained without preauthorization....

Insurance - definition of insurance by The Free Dictionary

Define insurance. insurance synonyms, insurance pronunciation, insurance translation, English dictionary definition of insurance. n. 1. a. The act, business, or system of insuring. b. The state of...

Insurance Underwriter: Definition, What Underwriters Do

Insurance companies must balance their approach to underwriting: if too aggressive, greater-than-expected claims could compromise earnings; if too conservative, they will be outpriced by...

Claims Adjuster: Definition, Job Duties, How To Become One

A claims adjuster investigates insurance claims to determine... Key Takeaways A claims adjuster investigates insurance claims... They either work directly for the insurance company, or they...

Casualty Insurance: Definition, Types, and Examples

What Is Casualty Insurance? Casualty insurance is a broad category of insurance coverage for individuals, employers, and businesses against loss of property, damage, or other liabilities....

Cost, Insurance, and Freight (CIF) Definition, Rules, and Example

What Is Cost, Insurance, and Freight (CIF)? Cost, insurance, and freight (CIF) is an... The ICC's official definition of CIF reads: “The seller delivers the goods on board the vessel or...

Mutual Insurance Company: Definition and How They Invest

Mutual insurance companies make investments in portfolios like a regular mutual fund, with any profits returned to members as dividends or a reduction in premiums. Federal law, rather than...

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