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Insurance companies out of business? This is really too broad a question to answer. In California alone, approximately twenty workers' compensation carriers went out of business (or were declared insolvent) between 2001 and 2005. Some simply ceased to exist, others were purchased by other companies that bought the assets/liabilitys and the policies. There have been many mergers and old company names that have been absorbed. The best way to find out if a carrier is still in business is to check with your state's Department of Insurance, which should list all carriers admitted to write business in your state. Elise Dee Beraru, Lynchburg, Virginia
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I am sorry for you and your mother's loss. I hope you are doing okay. Take a look at the life insurance policy itself. There should be a phome number and address of the life i…nsurance company stated somewhere on the policy. You can contact the life insurance company and ask who is handling the servicing of your life insurance policy. You can also ask them what the cash value of the policy is and if the policy is paid up full. If the company information is not available on the policy then contact the department of insurance in your state and asking them if they have the contact information for your life insurance company. Do a search on the internet for the department of insurance in your state. Answer In Minnesota, insurance companies are required by law to contribute to a fund established just for such situations. In Minnesota, at least, a life policy will always be paid, no matter what. Different states have different guarantee mechanisms. Minnesota does not guarantee that a policy with a value above $500,000 will be paid. But most policies are paid because the various State departments of insurance will step in and sell the assets of the failing company to another in order to fund as much payment as possible.
Im looking into starting my own security company and may employ persons with concealed weapons permits....how do obtain insurance for such business?
You discovered that the wall behind your stucco has rotted out due to inproperly installed flashing by the builder who is no longer in business your insurance company says they will not cover this?
That would be correct in most all cases. Depends on the policy form and what state your home is in, but it would be very rare for this sort of incident to be something a… homeowners policy would cover. Your homeowners policy is designed to cover common external casations, like fire, windstorm, etc. Wet rot is a commonly excluded condition under homeowners policies. This type of thing is what is generally considered to be homeowner maintenance. Remember that you insurance policy is not a maintenance contract. You could still have a cause of legal action against the builder (if an individual person(s)) that you can locate and the statute of limitations in your state does not interfere. It does not really matter whether this fellow is still in the business of building houses, he can still be held liable.
yes the company will be out of business it will still be sued
Time comes, traditional phone networks will be invaded by VOIP. Voice Over Internet Protocol.
no only if its shutdown via bankruptcy wich in that case all there assets are forfeited for example lets say due to midway shutting down because of banruptcy someone posts a g…ame they were going to make online. there's this game called MUGEN that came about just like that. the only law issues with that game are the actual characters created
Who can you contact to see if a life insurance policy is active if the original company is no longer in business?
Insurance companies operate via a "charter" This is done state by state. You should contact the State attorney generals office. They will be able to provide information as t…o merger or entity status of the original company. You may also attempt to do this by researching corporate transactions involving insurance companies. It becomes a bit grey if they are not "listed" or publicly held.
Identifying the "best business insurance company" is, in some respects, a personal determination. That is, business owners with different insurers have had differ…ent experiences with them. The relative happiness of an insured with the insurer often arises from claim experience and customer service in the event of a loss. Promptness, efficiency, and at least the perception of fairness in handling claims greatly influences the insured's feelings about the insurer. Often, customer service in the claims process is an important part of the services of the person or entity that sold the insured the insurance. This is especially true when that person or entity is an "agent". An agent is often considered to be a representative of the insurer, rather than of the insured. Therefore, the agent's actions may reflect more closely upon the insurer than that of a broker. A broker is often considered to represent the interests of the insured (the buyer of the insurance), and therefore may be thought of as "once removed" from the actions of the insurer. Another important aspect in choosing an insurer is its financial strength. Stated otherwise, insureds must be concerned with the claims-paying ability of the insurer. This is especially true in commercial lines of insurance when potential losses can be quite large and the insurer is required to pay out sums. This is usually not a problem if one claim is made at a time, however that is not how insurance works. Instead, the insurer insures many entities, so odds are that many claims will occur at or about the same time. It is hard for the average buyer of insurance to assess financial strength, but there do exist several entities that specialize in those assessments. Two of the most prominent are A.M. Best and Fitch's, each of which have measures of financial strength and rate insurers according to those measures. Licensed agents and brokers use those ratings, among other factors, to recommend insurers to prospective insureds. Many insurers use essentially similar policy "forms" for issuing commercial insurance. A policy form is the basic written contract which defines the insurer's and the insured's duties and responsibilities, and specifies the amount of insurance coverage available, the premium to be paid by the insured, and duration of coverage. Differences may exist between insurers as to options offered, such as automatic inflation-related increases in the basic coverage amount. Some options result in an increase in premium. Finally, it is critical that insurance be obtained only from an insurer licensed to transact business in the state in which the insured is located. Insurance is regulated by the individual states, and insurers that wish to transact business in a state must generally undergo a rigorous examination by the regulator. The examination is especially concerned with financial stability, but also with the character and abilities of the principals and officers of the company. In contrast, there frequently come to the market companies that have not gone through the regulatory process and which are not licensed. This often happens when legitimate insurance of a particular type is difficult to obtain due to market conditions. These are usually scams which are established merely to accept premiums and which have no intention of paying claims. Recent incidents of this type of scam have been in the workers compensation insurance market.
Focus on finding the best insurance broker, not the best insurance company. The insurance broker will help you identify, understand, and insure your company's risks. If th…ey just try to sell you a policy then find a new broker who focuses on understanding your needs. The broker should automatically place you with one of the best insurance companies for your operations and should also help you customize the coverage. Many brokers work with 100+ carriers so you really don't need to sweat the carrier as much as the broker. Also, make sure the broker explains the carriers strength to you. How are they rated by AM best? Do they pay out claims cleanly?
Most all Insurance sites are trying to out do each other and with each vehicle being different you would have to apply for a quote with vehicle specs to find cheapest quote
Some popular insurance companies that cover business buildings include Nationwide and Travelers. You might also be able to locate insurance companies in your state that run lo…cally.
Nationwide does offer general liability insurance as well as business liability insurance. Geico and many other insurance companies also offer liability insurance, it just mig…ht take a bit of sifting through to make sure they have what is needed.
There are a variety of companies that offer business owners insurance. Some examples of such companies are "Travelers", "Nationwide", "Statefarm", and many more.
It is difficult to say which company provides the best insurance for any business because it depends upon the business and what level and type of insurance they want. A good c…ompany for a small retail business might be Aviva or Cornell.
There are many different companies that offer business insurance. Some of the companies that offer business insurance are State Farm, Alstate, GEICO and Liberty Mutual Group.
If the business operates within a regulated industry-such as a taxicab company-the regulatory authority should have a record of it. If it does not operate in a regulated indu…stry, and the business is relatively good-sized, it probably has a risk management department or a person designated within the company as the risk manager. Send a letter, certified mail, return receipt requested to the person (if you can get a name), or to the "risk manager". Politely tell them why you want the information (for example, "I fell in your store on a certain date), and ask for the information. Ordinarily, they should provide the information because the protection that insurance provides is why they pay premiums.