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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
Is TN a monopolistic state for WC?
Tennessee is not typically considered a monopolistic state for workers' compensation (WC) insurance. While the state has a regulated system, multiple private insurers are allowed to provide workers' compensation coverage, which fosters competition. However, Tennessee does have some unique features, such as its exclusive remedy rule, which limits employee lawsuits against employers, reinforcing the workers' compensation system. Overall, the presence of various insurers indicates a competitive rather than monopolistic environment.
What class of consumer goods does Insurance fall under?
Insurance falls under the category of service goods, specifically within the realm of financial services. Unlike tangible consumer goods, insurance products provide intangible benefits and protection against risks. Consumers purchase insurance for security and peace of mind rather than physical possession.
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.
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.
Can a car have two insurance policies at the same time?
No, a car cannot have two insurance policies at the same time. It is against the law and considered insurance fraud to have overlapping coverage on a single vehicle.
Can I have 2 car insurances at the same time?
No, you cannot have two car insurance policies for the same vehicle at the same time. It is against the law and considered insurance fraud.
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?
How does over cropping cause soil erosion?
Over cropping depletes the soil of nutrients and organic matter, weakening its structure. This makes the soil more susceptible to erosion caused by wind and water, as it is less able to hold together and absorb water. Additionally, the removal of vegetation through over cropping removes the natural protection against erosion that plant roots provide.
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.
