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Net admitted assets are the assets an insurance company is legally allowed to count on its financial statements under state insurance laws. When you buy insurance, you trust that the …
What Are Net Admitted Assets? – Simple and Easy Explanation Read More
Negligence is when someone fails to act with reasonable care, leading to injury, damage, or loss to themselves or others. You may have heard the word negligence in the news, …
What Is Negligence? – Simple and Easy Explanation Read More
The NAIC helps U.S. insurance regulators work together to create standards, share oversight, and protect insurance consumers nationwide. If you’ve ever wondered who keeps insurance companies in check in the …
What Is the National Association of Insurance Commissioners (NAIC)? – Simple and Easy Explanation Read More
Named peril coverage is insurance that only protects you against losses caused by specific events clearly listed in your policy. When you buy insurance, it’s easy to assume you’re covered …
What Is Named Peril Coverage? – Simple and Easy Explanation Read More
A named insured is the person or organization specifically listed in an insurance policy as the main holder of coverage and rights. When you look at an insurance policy, there …
What Is a Named Insured? – Simple and Easy Explanation Read More
A mutual insurance holding company is owned by its members and controls stock insurance companies to spread risk and provide coverage for many people. Insurance company structures can sound confusing …
What Is a Mutual Insurance Holding Company? – Simple and Easy Explanation Read More
A mutual insurance company is owned by its policyholders, not shareholders, and is run mainly to benefit members rather than generate profits. When shopping for insurance, you might focus on …
What Is a Mutual Insurance Company? – Simple and Easy Explanation Read More
A municipal obligation bond is a type of government-issued bond used to fund public projects, with repayment coming from taxes, government guarantees, fees, or future budgets. When cities or states …
What Is a Municipal Obligation Bond? – Simple and Easy Explanation Read More
Municipal liability is insurance coverage that protects cities and local governments when they’re legally responsible for injuries, damages, or losses caused by their actions. Cities and towns do a lot …
What Is Municipal Liability? – Simple and Easy Explanation Read More
Municipal bond guarantee insurance helps protect investors by guaranteeing that the principal on municipal bonds will be paid, even if the issuer runs into trouble. Municipal bonds are often seen …
What Is Municipal Bond Guarantee Insurance? – Simple and Easy Explanation Read More