Introduction Processing endorsements and binders is a critical part of insurance operations. While they may seem routine, even small oversights in these documents can lead to coverage disputes, compliance issues, [...]
Introduction to Commercial Auto insurance policy Commercial auto insurance policy is needed by a business that requires a vehicle for its operations. This policy protects small businesses when their [...]
Introduction In a different blog, we have already discussed the meaning and types of profitability ratios. However, it is imperative to understand the importance of these ratios for an [...]
Introduction to BOP A business owner policy also known as BOP is an insurance policy that combines protection from all major property and liability risks in one package. A [...]
What is a Motor Vehicle Report(MVR)? A motor vehicle report also abbreviated to MVR is the driving record of an individual. It is a history, maintained by the state’s [...]
Introduction Almost all businesses with employees are legally obligated to take reasonable care to assure that they provide safe workplaces to their employees. Nevertheless, mishaps happen. Handling the expense [...]
Admitted and Non-admitted Assets Admitted and non-admitted assets are the classifications of assets generally used by the insurance companies. For reporting of financial data, insurance companies use statutory accounting [...]
What is a P&C insurance company? They are insurance companies that insure the property owned by individuals like a car or house or literally anything under the sun. However, [...]
Introduction to the concepts In our daily lives, we come across these terminologies and tend to think that they mean one and the same thing. However, we must draw [...]
Introduction Suppose you get into a car accident and injure someone else. Bodily injury liability will cover the expenses involved in treating that person. This insurance coverage not only [...]
Introduction to Reinsurance We have already discussed How Insurance Companies Make Profit? But what if there is a situation where an insurance company fails to make profits or a [...]
Introduction In a different blog, How do Insurance Companies make money?, we discussed that Premiums and Return on Investment contribute a major chunk in the profits. In the same [...]
Introduction Insurance companies charge premiums for covering the cost of the risks they insure. After thorough research, they set the premiums at certain levels that make them profitable. However, [...]
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