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Virtually every state in the Union has what is called a guaranty association. There are usaually separate ones for life insurance companies and property/casualty companies. Guaranty funds provide for the payment of the claims, subject to some limitations, of insurance companies that have been licensed and admitted to do business in that state and are found to be insolvent. For more information you might go to the website of the National Association of Insurance Comissioners.
What else can I help you with?
Which type of insurance is sometimes used to guarantee the payment of mortgage in case the insurance died?
decreasing term insurance...
What type of check guarantee services are offered by the company Payment Solutions?
The company Payment Solutions offer three guarantee services for checks. Check guarantee for auto dealers, check guarantee for retailers and check guarantee for building materials & supply companies.
Which type of insurance is sometimes used to guarantee the payment of a mortgage in case the insured died?
decreasing term insurance...
What do you call the payment of the insurance company?
premium
What is on an Admitted basis?
"On an admitted basis" refers to insurance policies that are issued by insurance companies that are licensed and authorized to operate within a specific state. These insurers are subject to state regulations and oversight, ensuring that they meet financial stability and consumer protection standards. Policies written on an admitted basis often benefit from greater regulatory security, including the guarantee of claims payment through state guaranty funds in the event of insurer insolvency.
On what types of policie is it a certainty that the insurance company will have to make payment?
A. Life Insurance
When can an insurance company void a policy?
Non payment
What does insurance company mean?
An insurance company deals in various insurance products ranging from life ,health,fire,burglary and so on. The insurance company generally sells their products to the public through the service of authorised agents. The policy holders are to pay premia at agreed modes. In life insurance, the company is contract bound for payment of a sum of money to the person assured or failing him, to the person entitled to receive the same, on the happening of certain events. In health insurance,when an insured falls ill and admitted in hospital, the medical expenses are generally reimbursed by the insurance company.
How can one obtain payment protection insurance?
You can get payment protection insurance by speaking with your insurance agent and asking whether or not the company offers such an insurance. You can try insurance agencies like Progressive or Advantage.
What is whole turnover guarantee?
A whole turnover guarantee is an insurance policy that protects the complete sales ledger of a business. It protects against non-payment through default.
What is the payment of damages by the insurance company directly to the insured?
Payment of damages by the insurance company against your Householders' policy is paid directly to your account through NEFT,instead of cheque as was customary earlier.
How many companies have ministry of justice licenses of payment protection insurance?
HSBC is a reputed insurance company in India for payment protection insurance.
