| Captive Insurers |
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| A captive insurer is captive in the sense that it is owned and operated by the insured. There is a point at which it makes economic sense for a company to establish and operate its own insurer as part of the company's risk management program rather than pay premiums to independent insurers.More... |
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| Insurance Law |
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| If an insured suffers a loss for which an insurer denies coverage, the insured may attempt to recover damages from the agent or the insurer on the ground that he would not have purchased such a policy had the agent explained it to him. The action may be brought under a negligence theory. In such a case, the insured would need to prove that the agent had a duty of care to explain the policy to him.More... |
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| Types of Disability Coverage in Life and Health Insurance |
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| The definition of "disability" is subjective because some people can work without complaint with a condition that would disable and incapacitate others. A typical life and health insurance policy may define disability insurance as including insurance related to injury, disablement, or death resulting to the insured from accidents or sickness.
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| Purchasing Groups |
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| The Liability Risk Retention Act of 1986 provides for the formation of purchasing groups to buy insurance. Such groups must be made up of members or companies with similar risk exposure due to their involvement in similar businesses. The groups must meet the regulatory requirements of the states in which they are organized, but, due to preemption by the Act, some regulatory requirements of other states in which the groups do business do not have to be met.More... |
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| Types of Health Insurance |
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| Health insurance can be organized into three categories. They are disability income insurance, medical cost insurance, and accidental injury or death insurance.
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