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What is multiple cropping Why it is considered as insurance against crop failure?
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In what way does insurance 'pool risk'?
Insurance pool risk by providing protection against disastrous risk such as fires,floods,earthquakes,accidents
What does the contribution principle determine in life insurance?
The concept has primary application to property insurance rather than to life insurance. In the context of property insurance, assume that the property owner or other person having an insurable interest in a building buys 2 policies from different insurers for, say $2million each. If a loss occurs and the insured makes a claim against one of the insurers, and it is paid, the paying insurer would have a right to recover half of its payment from the other insurer. In the context of life insurance, an insured can have multiple policies. As long as there is full disclosure to each of the insurers of the existence of the other(s), and each insurer is willing to underwrite the risk despite the existence of the other policy, each policy stands alone and pays upon the death of the insured. Naturally, the terms, conditions, and exclusions of the policy control whether or not payment is actually made.
List and describe the characteristics of a perfectly competitive market?
There are multiple characteristics which correspond to an ideally competitive market. These are a rule of law and contracts enforcement, competition through multiple merchants, market integrity against anti-competitive behaviors, and consumer confidence.
What is insurance and principles of insurance?
Insurance is the concept that it is better to pool together uncertain risk and spread risk among many in order to better protect against uncertainty.It is vastly easier to budget for limited loss by mathematical probability that an event will occur to a limited number of people and spreading that risk than it is to prepare for unlimited risk to occur to one person.There are seven basic principles of insurance, which include subrogation, insurable interest, contribution and utmost good faith; in addition to indemnity, nearest cause, and minimization of loss. These principles are meant to safeguard insurance contracts.
What is the disadvantages of insurance?
It costs money. You are basically betting against things going well. If you are a careful manager and have some cash reserves for emergencies your total cost may be lower without insurance. Stated otherwise, in return for the payment of money (the insurance premium), the insurer assumes the financial risk of loss for a specified occurrence or occurrences. The range of occurrences and the amount of the financial risk is specified in the insurance policy. Rather than purchasing insurance, one could "self-insure". That means that the person or entity could assess the likelihood of a loss occuring for which he/she/it may be found legally liable for damages. Further, an assessment would have to be made as to the amount of damages for which it could be held liable if found to be at fault, and the cost of defending itself against the claim. It would also have to decide how much of its assets it is willing to place at risk to pay damages to the injured party if found liable. If the amount of the insurance premium is more than the dollar amount that is at risk by self-insuring, it may make business sense to self-insure. If not, there is little, if any, risk to insuring against the risk.
How is bluecross stacked up against other insurances?
Blue Cross is considered a reputable insurance, but it is important to find an insurance with a plan that meets individual needs.
What made the ladies insurance company start?
There are quite a few ladies only insurance companies, especially car insurance. The reason lady-only car insurance began was because everyone considered woman to be more careful when driving, going against the stereotype.
If someone fell downstairs and was injured can they file a claim against their insurance?
Not against your own insurance.
Which is grammatically correct - why are you against of insurance sector or why are you against the insurance sector?
"Against of" is not a good combination, so your second version is better. However, I would suggest "Why are you opposed to the insurance sector?" as a clearer question.
How many insurance points do you get when you get a ticket for driving without car insurance?
If you don't have insurance how will it go against your insurance?
What companies in the United States offer protection and insurance for flood and water damage?
Some companies in the United States that offer protection and insurance for flood and water damage include State Farm, Allstate, Nationwide, and Farmers Insurance. It is important to contact multiple insurance providers to compare coverage options and pricing specific to your location and property.
Why should one take insurance?
One take insurance to be protected against.
What is covered by a trade credit insurance policy?
Trade Credit Insurance is a type of insurance which is offered to businesses. The insurance policy covers accounts receivable, guards against bankruptcy, and protects the business against credit risks.
Can you file a claim against a person with no insurance?
You can file a claim against your insurance company for an action caused by another person with no insurance if you are covered for such an occurance. An example would be if you had uninsured motorist coverage and were hit by someone without auto insurance. However if you want to file a 'claim' against the person directly who has no insurance there is no one to file the claim against. The only alternative here is to sue the person in court.
How do you file a complaint against an insurance company in Illinois?
Contact your Illinois Department of Insurance
Is it against the law if my car insurance has my friend's name as the principal driver in my car insurance?
No.
Does a no seatbelt ticket go against your insurance?
No
