The price an insurance company charges for coverage, based on the frequency and cost of potential accidents, theft and other losses. Prices vary from company to company, as with any product or service [..]

There are basically six different types of coverages. Some may be required by law. Others are optional. They are: Bodily injury liability, for injuries the policyholder causes to someone else. Medical [..]

Facilities through which drivers can obtain auto insurance if they are unable to buy it in the regular or voluntary market. These are the most well-known type of residual auto insurance market, which [..]

Property owned, in this case by an insurance company, including stocks, bonds, and real estate. Insurance accounting is concerned with solvency and the ability to pay claims. State insurance laws ther [..]

Bonds that represent pools of loans of similar types, duration and interest rates. Almost any loan with regular repayments of principal and interest can be securitized, from auto loans and equipment l [..]

The dividing of a loss proportionately among two or more insurers that cover the same loss.

A survey to determine a propertyís insurable value, or the amount of a loss.

Procedure in which an insurance company and the insured or a vendor agree to settle a claim dispute by accepting a decision made by a third party.

The deliberate setting of a fire.

Legal document providing detailed information about variable annuity contracts. Must be offered to each prospective buyer.