finpediahub.com
Pro-rata reinsurance is a type of reinsurance where the insurer and reinsurer share premiums and losses in the same proportion. Understanding Pro-Rata (Proportional) Reinsurance Pro-rata (proportional) reinsurance is one of …
What Is Pro-Rata (Proportional) Reinsurance? – Simple and Easy Explanation Read More
Property insurance protects buildings and personal belongings from damage or loss caused by events like fire, storms, theft, or accidents. If you own a home, rent an apartment, or run …
What Is Property Insurance? – Simple and Easy Explanation Read More
Professional errors and omissions liability insurance helps protect professionals when a mistake, oversight, or service error leads to a lawsuit. When you provide professional services or advice, people rely on …
What Is Professional Errors and Omissions Liability? – Simple and Easy Explanation Read More
Product liability insurance protects businesses when a product they make or sell causes injury or property damage due to a defect. If you own a business that makes, sells, or …
What Is Product Liability? – Simple and Easy Explanation Read More
An insurance producer is a licensed person who sells, services, or helps negotiate insurance policies for individuals and businesses. If you’ve ever bought insurance and worked with a person who …
What Is a Producer? – Simple and Easy Explanation Read More
Private Passenger Auto (PPA) insurance covers everyday personal vehicles and includes common protections like liability, medical coverage, and damage to your car. If you own a car and use it …
What Is Private Passenger Auto (PPA)? – Simple and Easy Explanation Read More
A prior approval law requires insurance companies to get state approval before using new insurance rates or policy forms. Understanding Prior Approval Law in Simple Terms If you’ve ever wondered …
What Is Prior Approval Law? – Simple and Easy Explanation Read More
Primary insurance is the policy that pays first when more than one insurance policy covers the same loss. Insurance can get confusing, especially when more than one policy applies to …
What Is Primary Insurance? – Simple and Easy Explanation Read More
Premiums written show the total amount of insurance premiums an insurer generates from policies issued during a specific time period. If you’ve ever looked at an insurance company’s financial report …
What Are Premiums Written? – Simple and Easy Explanation Read More
Premiums net are the portion of insurance premiums used to support policy reserves, based on interest rates and mortality assumptions. Insurance terms can sound intimidating, especially when they mix money, …
What Are Premiums Net? – Simple and Easy Explanation Read More