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Coinsurance requires you to share a portion of the cost of a covered loss, either in property insurance or medical insurance, based on rules set in your policy. Understanding Coinsurance …
What Is Coinsurance? – Simple and Easy Explanation Read More
Class rating groups people with similar characteristics and uses that group information to determine insurance rates in a fair and consistent way. Understanding Class Rating When you buy insurance, your …
What Is Class Rating? – Simple and Easy Explanation Read More
A claims-made form covers liability claims only when the incident and the claim itself are both reported during the active policy period. Understanding the Claims-Made Form Liability insurance can be …
What Is a Claims-Made Form? – Simple and Easy Explanation Read More
Costs insurers expect to pay for handling, reviewing, and recording accident and health, auto medical, and workers’ compensation claims. Understanding Claims Adjustment Expenses When an insurance company pays a claim, …
What Are Claims Adjustment Expenses? – Simple and Easy Explanation Read More
A clear, friendly guide to understanding what an insurance claim is and how it works when you experience a covered loss. A claim is a request you make to your …
What Is a Claim? – Simple and Easy Explanation Read More
A clear and friendly guide to understanding the CPCU designation and why it matters in the property and casualty insurance world. A Chartered Property Casualty Underwriter (CPCU) is a respected …
What Is a Chartered Property Casualty Underwriter (CPCU)? – Simple and Easy Explanation Read More
A clear and friendly guide to understanding the CLU designation and what it means for life insurance professionals and their clients. Understanding the Chartered Life Underwriter (CLU) A Chartered Life …
What Is a Chartered Life Underwriter (CLU)? – Simple and Easy Explanation Read More
A clear explanation of how insurers update their assumptions to keep policy reserves accurate and financially sound. Understanding a Change in Valuation Basis A change in valuation basis may sound …
What Is a Change in Valuation Basis? – Simple and Easy Explanation Read More
A friendly guide to understanding CMS, what it does, and why this agency plays such an important role in the U.S. healthcare system. A simple explanation of the federal agency …
What Is the Centers for Medicare & Medicaid Services (CMS)? – Simple and Easy Explanation Read More
A friendly guide to understanding what a ceding company is and how it uses reinsurance to stay financially strong and reliable. Understanding a Ceding Company in Simple Terms A ceding …
What Is a Ceding Company? – Simple and Easy Explanation Read More