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Premiums earned are the part of an insurance premium that applies to coverage that has already been provided during the policy period. Insurance terms can sometimes sound more complicated than …
What Are Premiums Earned? – Simple and Easy Explanation Read More
An insurance premium is the amount of money you pay to keep your insurance coverage active and protect yourself from financial loss. If you’ve ever bought insurance—whether it’s health, car, …
What Is an Insurance Premium? – Simple and Easy Explanation Read More
Protection for injuries or property damage that happen on your business property or because of your everyday business activities. If you run a business, even a small one, accidents can …
What Is Premises and Operations Insurance? – Simple and Easy Explanation Read More
Preferred risk refers to an insurance applicant who is considered lower risk than average and often qualifies for better rates and terms. When you apply for insurance, the company doesn’t …
What Is Preferred Risk? – Simple and Easy Explanation Read More
A Preferred Provider Organization (PPO) is a health plan that offers flexibility in choosing doctors while rewarding members for using in-network providers. Health insurance can feel confusing, especially when you …
What Is a Preferred Provider Organization (PPO)? – Simple and Easy Explanation Read More
A pool is a group formed to share risk, allowing members to spread losses so no single person or company bears the full impact alone. In insurance and finance, some …
What Is a Pool? – Simple and Easy Explanation Read More
Pollution is environmental contamination caused by harmful substances entering the air, water, or land and affecting people, animals, and ecosystems. Pollution is a word we hear all the time, but …
What Is Pollution? – Simple and Easy Explanation Read More
Policyholders surplus is the extra financial cushion an insurance company holds after covering all its obligations, helping protect policyholders and keep the company stable. If you’ve ever wondered how insurance …
What Is Policyholders Surplus? – Simple and Easy Explanation Read More
A policy reserve is money set aside by life insurance companies to make sure they can pay future claims and keep promises to policyholders. When you buy life insurance, you’re …
What Is a Policy Reserve? – Simple and Easy Explanation Read More
The policy period is the length of time your insurance coverage is active, starting on the effective date and ending on the expiration date. If you’ve ever looked at an …
What Is a Policy Period? – Simple and Easy Explanation Read More