1MHG (Message Header Group) The 1MHG (Message Header Group) is the very first structural group that appears before any transaction in an AL3 message. Its primary functions include: 1. Logical [...]
Binders A Binder is like a temporary contract of insurance for a short period until the policy is issued and the insured gets the certificate of insurance. As per the [...]
5AOI: The Additional/Other interest is a joint group used to contain information relating to persons or parties other than the insured who have an interest during this policy for [...]
Winsurtech Web Viewer is one of the software which can be used to open AL3 files and see the data visually. You can access the AL3 Web Viewer here: [...]
What are defense costs in insurance and are they paid separately from the limit of liability? What is post-judgment interest? Defense Costs in insurance mean any type of fees, [...]
ACORD Forms ACORD forms are used in the insurance industry to standardize the collection of information for insurance applications, quotes, and policies. Carrier questions are a section of the [...]
Certificates of Insurance A Certificate of Insurance is a complete and defined document that includes all the important information about an insurance policy. It could be used, for instance, [...]
We can find the Insured’s name in the 5BPI group. The name of the insured can be a free-form text name, a family name, or an individual's name. The [...]
Introduction: Commercial business insurance protects companies and organizations. Mainly, it’s designed to protect the company, its owners, and its employees. Commercial insurance, also known as business insurance, protects your [...]
What is the purpose of Inland Marine Insurance How is it different in Personal Lines as compared to Commercial lines? Purpose Inland Marine Insurance policies are typically written on [...]
Family Risk Management refers to the approach that helps in the reduction of risk to the family through various risk management programs. It is a part of personal insurance. [...]
Find out if you need to purchase rental car insurance before approaching the counter. The rental car agency will make several offers to sell you supplementary insurance. Included in [...]
Catastrophe: A catastrophe is defined as an unexpected event that will cause significant damage or a high amount of suffering with that damage. That means this event will cause [...]
