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Product liability insurance protects businesses when a product they make or sell causes injury or property damage due to a defect. If you own a business that makes, sells, or …
What Is Product Liability? – Simple and Easy Explanation Read More
An insurance producer is a licensed person who sells, services, or helps negotiate insurance policies for individuals and businesses. If you’ve ever bought insurance and worked with a person who …
What Is a Producer? – Simple and Easy Explanation Read More
Private Passenger Auto (PPA) insurance covers everyday personal vehicles and includes common protections like liability, medical coverage, and damage to your car. If you own a car and use it …
What Is Private Passenger Auto (PPA)? – Simple and Easy Explanation Read More
A prior approval law requires insurance companies to get state approval before using new insurance rates or policy forms. Understanding Prior Approval Law in Simple Terms If you’ve ever wondered …
What Is Prior Approval Law? – Simple and Easy Explanation Read More
Primary insurance is the policy that pays first when more than one insurance policy covers the same loss. Insurance can get confusing, especially when more than one policy applies to …
What Is Primary Insurance? – Simple and Easy Explanation Read More
Premiums written show the total amount of insurance premiums an insurer generates from policies issued during a specific time period. If you’ve ever looked at an insurance company’s financial report …
What Are Premiums Written? – Simple and Easy Explanation Read More
Premiums net are the portion of insurance premiums used to support policy reserves, based on interest rates and mortality assumptions. Insurance terms can sound intimidating, especially when they mix money, …
What Are Premiums Net? – Simple and Easy Explanation Read More
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