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The situs of contract identifies the legal jurisdiction where a contract is considered issued or delivered, as stated in the agreement. Understanding Situs of Contract in Plain Language The term …
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Short-term medical insurance offers temporary health coverage for people who need protection for a limited period of time. Understanding Short-Term Medical in Simple Terms Short-term medical insurance is a type …
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Short-term disability is a type of employee benefit that provides income replacement when someone can’t work due to a temporary illness or injury. Understanding Short-Term Disability in Everyday Terms Short-term …
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A separate account is a pool of money an insurer keeps apart from its other assets to invest specifically for group retirement plans. Understanding What a Separate Account Is In …
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Self-insurance is when a person or business sets aside its own money to cover losses instead of buying a traditional insurance policy. Understanding Self-Insurance in Simple Terms Self-insurance is a …
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A security is a financial asset, like a stock or bond, that represents ownership, participation, or a claim on money from a company or organization. Understanding What a Security Is …
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Securitization of insurance risk lets insurers transfer risk to investors by turning insurance exposure into tradable financial securities. Understanding Securitization of Insurance Risk Securitization of insurance risk is a way …
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Statutory Accounting Principles (SAP) are special accounting rules insurance companies use to show their financial strength and ability to pay claims. Understanding Statutory Accounting Principles (SAP) Statutory Accounting Principles, often …
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Salvage in insurance means the value that can be recovered from damaged property after a loss. What Does Salvage Mean in Insurance? In insurance, salvage refers to the remaining value …
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A Risk Retention Group is a type of insurance company owned by its members to share and manage liability risks together. If you’ve ever wondered how certain businesses insure themselves …
What Is a Risk Retention Group? – Simple and Easy Explanation Read More