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Q: What is the anwer for the amount payable by an insurance company for a monetary loss to an indiviual insured by that company under each coverage?
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What effect does a claim has on insurance company?

A claim is a liability on part of the insurance company. If a customer makes a claim it means that the insurance company has to pay the customer for the amount is eligible to claim and hence it is a expenditure on the balance sheets of the insurance company.


What is the difference between monetary and non-monetary?

The difference between monetary and non-monetary incentives is in how you are paid. Monetary incentives include being paid in money with some type of pay raise, bonus, or other pay. Non-monetary incentives include other type of payment including job security, promotion, or a company car.


The concept of repricing life insurance policy?

Re-pricing focuses on the rate revision, there is no change in existing benefit structure of the product. The rate revision is necessitated due to several reasons. Some of the reasons are as follows ü When the insurance company feels that the product is not sold as expected then the insurance company will revise the rate to sell the product. ü When the insurance company feels that the product does not give profit as expected then the insurance company will revise the rate to earn profit. ü When the insurance company feels that the product has more demand then the insurance company will revise the rate to meet the demand. ü When the insurance regulatory authority asks the insurance company to revise the premium then the insurance company will reduce the rate.


Why is there a need for house insurance?

Insurance companies are in the business in accepting your risk in exchange for an insurance premium. You have the risk of loss in loosing your home to fire, theft, windstorm, flood, lightning, etc and by purchasing a policy you are transferring this risk of loss to the insurance company who agrees to rebuild your home or give you the funds to do so. The liability coverage also transfers the risk of liability loss from yourself to the insurance company. If someone came to your home and was injured on your steps by falling and you were negligent by not securing the steps properly and putting sturdy handrails on the steps. The insurance company protects you by providing your defense costs plus it pays any damages to the claimant if you are found negligent and required to pay a judgement by the courts.


Why would one choose Swinton Insurance Company over another company?

A consumer may choose Swinton Insurance Company over another company based on more inexpensive rates that are quoted and also the extent of insurance coverages offered.

Related questions

What type of company is Complete Coverage Insurance?

Complete Coverage Insurance is the type of company referred to as an independent insurance agency. They provide insurance coverage for automobile, home, health, business and life.


What is coverage?

what the insurance company includes as part of the insurance policy.


Is Golden rule insurance a company or rule of insurance?

Golden Rule Insurance is an insurance company offering various health insurance coverage plans, auto insurance coverage and homeowners insurance. They are affiliated with Unites Healthcare Company and are based out of Indianapolis, Indiana.


Can you sue the state for hitting a deer your car is total and your insurance will not pay?

You are required by law to have liabilty coverage, but not collision coverage. If you did not have collision coverage then you are not due any compensation by your insurance company. If you did have collision insurance and the insurance company will not pay, then you may be able to sue the insurance company, but you cannot sue the state.


How do you confirm your auto insurance coverage?

Call your agent or your insurance company.


Where can I find out more about insurance coverage for gastric bypass?

Your insurance company can discuss insurance coverage for gastric bypass surgery with you. If you have a diagnosis of a weight-related disorder such as diabetes, coverage is common.


Do homeowner insurance policies typically include flood coverage?

There is no requirement, but your mortgage company may require a certain amount of coverage that both policies will have to match.


Is it lawfull for your vehicle insurance to charge you for what they have covered?

Yes, That's how it works. The insurance company sells you coverage in the form of an insurance policy and you pay a premium in exchange for that coverage. If you don't pay for the coverage then your not covered.


Are payments made to an insurance company in return for coverage?

yes it is


Do all caravan insurance policies include contents coverage?

Yes all caravan insurance policies include contents coverage. But when in doubt, it would be best to contact your insurance agent or insurance company and verify the coverage in your policy.


How much does primary insurance cover?

It is different depending on what company and plan you get. Full coverage from one company can differ from full coverage from another company, and minimum coverage can vastly differ from full coverage even within the same company.


Which was the first commercial insurance company in the United states to provide private healthcare coverage for injuries not resulting in death?

The Franklin Health Assurance Company of Massachusetts, in 1860, was the first insurance company to provide this coverage.