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Reciprocal
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What is it called when you are sharing financial consequences associated with risk in the industry called?
Sharing financial consequences associated with risk in the industry is called risk sharing. It is a practice where multiple parties agree to distribute or transfer the potential financial losses or gains resulting from a specific risk. This can be done through various methods, such as insurance, partnerships, or contracts.
How are the car insurance rates for teens?
Car insurance rates for teens vary from provider to provider. The rates are usually higher than adults due to the extra risk involved with teen drivers.
How to find a high risk auto insurance provider?
Call your state's insurance commissioner. They should have a list of providers. The insurance company that dumped you might have a referral as well.
Does the AAA auto provide coverage for high risk drivers?
AAA does not provide automobile insurance for high risk drivers. You will have to look for another provider.
Distinguish between co-insurance and reinsurance?
Coinsurance in medical health (casualty) is sharing of costs between insurer and insured, and in property insurance it is were the risk( one risk) is shared between different insurance companies. Reinsurance is insurance for an insurance company, where by an insurance companies seeks for indemnification in case that a stated loss takes place.
What is the role of the underwriter in an insurance policy?
The underwriter aims to manages risk. He or she assess the customer on a risk profile for various products a financial financial service provider may offer.
Is risk insurance and risk insurance management are same?
According to my opinion or my experience risk insurance and risk insurance management are differ from each other. Risk Insurance is the risk that is insured Risk Insurance Management Consist of process How the Risk can be manage it include prevention of risk and minimization of risk and many other proces.
Who is Insured in case of Reinsurance?
Reinsurance may be purchased by an insurance company for an individual risk, a specific class of risk, or an entire book of business. In any case, the insurance company that purchases the reinsurance is the Insured. The actual policy holder(s) are unaware of the reinsurance arrangement.
How could health care professional protect there self from liability?
1. Risk Transference. - Buy An Insurance Policy2. Risk Avoidance - Do not provide the care or service3. Risk Retention. - Go Bare, accept the risk and associated losses4. Risk Sharing - Share the risk with a pool of like professionals.
You got life insurance right after you quit smoking cigarettes how long until you can retake the nicotine test?
You will have to discuss that with your insurance provider. The risk of complications for former smokers does not abate for some years.
Difference between risk sharing and risk transfer in insurance in insurance?
Risk Sharing is used in coinsurance specifically where the risk is to be shared and not transferred among several insurance companies each one them having a direct contractual relationship with the insured for the portion of the risk accepted by that company.and transferring the risk is used in reinsurance , and reinsurance always involves legal entities and not individualsin reinsurance the contractual relationship is between the cedant and the reinsurer , only in special situations does the reinsurance treaty have a provision called the cut through clause that allows the insured to have a direct legal claim to the reinsurer for example , in the case the insurer becomes insolventHope all is in orderRegards,Tamer Hadddin
What cooperative risk sharing plan do most Americans use to reduce the financial losses caused by sickness accident fire theft or old age?
Insurance
