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What else can I help you with?
What does professional indemnity cover in liability insurance?
Professional indemnity insurance pays for the legal costs and any judgments up to the coverage limit. Also it may help with conducting an investigation to help with your case.
Why did aig buy chartis?
The theory is this: Aig is a huge health ins. co. Third party adminstrators work to disqualify health insurance claims. Now you have a situation where the health insurance company that pays your claims also owns the insurance company that protects third party administrators when they illegally deny your claims. You do the math.
Who pays for losses by the people who buy insurance?
If what you are asking is who/what pays the losses of claims submitted to an insurer, the answer is, if it is a covered claim, the insurer. The nature of insurance is that in return for a premium (a dollar amount paid periodically), the insurer assumes the risk of loss of certain categories of losses outlined in the policy. There are dollar limits to the amount that the insurer will pay for various categories of losses, but within those limits, and assuming that it is a covered loss, the insurer pays. There may also be deductibles, and for some forms of insurance, copayments (which the insured pays), but overall, the insurer assumes the risk of loss and pays covered claims.
Who can fund gmac insurances?
Whoever chooses to buy GMAC insurance pays the premiums, and GMAC insurance would use the premiums to in turn make sure they had the funds to pay out for the people who made insurance claims.
Does insurance pays claims for under age driver accident?
Ordinarily, an auto insurance policy will require that the driver be licensed as a condition of coverage. Therefore, absent extenuating circumstances, probably not.
How is ratio calculated?
Loss Ratio in insurance is the ratio of total losses paid out in claims plus adjustment expenses divided by the total earned premiums. If an insurance company, for example, pays out $60 in claims for every $100 in collected premiums, then its loss ratio is 60%.
Does a driver's liability insurance pay if your limits are exceeded when they are driving your car?
Laws vary by state. You need to call your claims department. If you lend out your car and they have a liability claim, I can't remember which pays first but in MA the cars insurance pays first, if there is a shortfall than the divers insurance would pay, or vice versa.
Thinking and making reasoned judgments about claims?
Critical thinking
How is loss ratio calculated?
Loss Ratio in insurance is the ratio of total losses paid out in claims plus adjustment expenses divided by the total earned premiums. If an insurance company, for example, pays out $60 in claims for every $100 in collected premiums, then its loss ratio is 60%.
Difference between primary and Secondary commercial claims?
There is one major difference between these types of claims. When a person has two different insurance carriers, one of them is designated as the primary coverage and the other as the secondary. The primary insurance should be billed first and normally pays the bulk of the bill. The secondary insurance gets billed for the remainder of the bill which the primary insurance did not pay for.
Who pays for unemployment insurance in Illinois?
The employer pays a percentage of payroll as unemployment insurance premiums.
Who sells insurance claims software for a claims adjuster?
Claims Portal sells insurance claims software for a claims adjuster. You can get Property and casualty insurance claim adjuster resources at www.claims-portal.com/
