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A qualified actuary is an actuary who meets strict education, experience, and professional standards and is approved to sign official actuarial opinions in the insurance industry. Understanding What a Qualified …
What Is a Qualified Actuary? – Simple and Easy Explanation Read More
Pure risk is a situation where there is a chance of loss or no loss, but no chance of gain. Understanding Pure Risk in Everyday Life Pure risk is all …
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Pure premium is the part of an insurance premium that is meant only to pay for expected claims, without including expenses, taxes, or profit. Understanding Pure Premium in Everyday Language …
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A public adjuster is an independent claims professional who works for policyholders, not insurance companies, to help them get a fair insurance settlement. Understanding What a Public Adjuster Does When …
What Is a Public Adjuster? – Simple and Easy Explanation Read More
Proximate cause is the main event in a chain of events that leads to a loss and is covered under an insurance policy. Understanding proximate cause can make a big …
What Is Proximate Cause in Insurance? – Simple and Easy Explanation Read More
Insurance provisions are the specific conditions, rules, and situations written into a policy that explain how coverage works. Provisions may sound like fine print, but they play a big role …
What Are Provisions in Insurance? – Simple and Easy Explanation Read More
A Provider Sponsored Network (PSN) is a group of doctors, hospitals, and other healthcare providers that work together to deliver coordinated care under one organized network. Understanding Provider Sponsored Networks …
What Is a Provider Sponsored Network (PSN)? – Simple and Easy Explanation Read More
Protection and Indemnity (P&I) insurance covers the legal and liability risks that ship owners face while operating vessels at sea. Understanding Protection and Indemnity (P&I) Insurance Protection and Indemnity (P&I) …
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A protected cell is a structure used by insurance and reinsurance companies to keep certain investments separate and protected from other business risks. Understanding the Idea Behind a Protected Cell …
What Is a Protected Cell? – Simple and Easy Explanation Read More
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