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Property And Casualty Insurance Guaranty Funds
Property and casualty insurance guaranty funds are part of the property and casualty guaranty fund system, a non-profit, state-based, statutorily-created insurance consumer protection system that protects policyholders if an insurer goes bankrupt. Property and casualty guaranty funds step in to pay the covered claims (which would otherwise go partially or entirely unpaid) of policyholders of an insolvent insurer at levels determined by state law. This ensures policyholders and claimants at greatest risk are protected from the most severe consequences of an insurer's failure. Colorado's guaranty fund statute summarizes the purpose of guaranty funds. The statute states that Colorado's guaranty fund "provide(s) a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payment and financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-profit
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status. Key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to eve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Commissioner
An insurance commissioner (or commissioner of insurance) is a public official in the executive branch of a state or territory in the United States who, along with his or her office, regulate the insurance industry. The powers granted to the office of an insurance commissioner differ in each state. The office of an insurance commissioner is established either by the state constitution or by statute. While most insurance commissioners are appointed, in some jurisdictions they are elected. The office of the insurance commissioner may be part of a larger regulatory agency, or an autonomous department. Insurance law and regulation is established individually by each state. In order to better coordinate insurance regulation among the states and territories, insurance commissioners are members of the National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and gove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Health Insurance
Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among many individuals. By estimating the overall risk of health risk and health system expenses over the risk pool, an insurer can develop a routine finance structure, such as a monthly premium or payroll tax, to provide the money to pay for the health care benefits specified in the insurance agreement. The benefit is administered by a central organization, such as a government agency, private business, or not-for-profit entity. According to the Health Insurance Association of America, health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury. It includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment". Background A health i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; common examples include claims relating to suicide, fraud, war, riot, and civil commotion. Difficulties may arise where an event is not clearly defined, for example, the insured knowingly incurred a risk by consenting to an experimental m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Casualty Insurance
Casualty insurance is a defined term which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance. Casualty insurance is mainly liability coverage of an individual or organization for negligent acts or omissions.AllBusinessCasualty Insurance However, the term has also been used for property insurance, aviation insurance, boiler and machinery insurance, and glass and crime insurance. It may include marine insurance for shipwrecks or losses at sea, fidelity and surety insurance, earthquake insurance, political risk insurance, terrorism insurance, fidelity and surety bonds. One of the most common kinds of casualty insurance today is automobile insurance. In its most basic form, automobile insurance provides liability coverage in the event that a driver is found "at fault" in an accident. This can cover medical expenses of individuals involved in the accident as well as restitution or repair of damaged property, all of which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Insurance
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance. Property is insured in two main ways—open perils and named perils. Open perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes, floods, nuclear incidents, acts of terrorism, and war. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided. The more common named perils include such damage-causing events as fire, lightning, explosion, cyber-attack, and theft. History Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted the development of insurance "from a matter of conv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virgin Islands
The Virgin Islands ( es, Islas Vírgenes) are an archipelago in the Caribbean Sea. They are geologically and biogeographically the easternmost part of the Greater Antilles, the northern islands belonging to the Puerto Rico Trench and St. Croix being a displaced part of the same geologic structure. Politically, the British Virgin Islands have been governed as the western island group of the Leeward Islands, which are the northern part of the Lesser Antilles, and form the border between the Caribbean Sea and the Atlantic Ocean. The archipelago is separated from the true Lesser Antilles by the Anegada Passage and from the main island of Puerto Rico by the Virgin Passage. The islands fall into three different political jurisdictions: * Virgin Islands, informally referred to as British Virgin Islands, a British overseas territory, * Virgin Islands of the United States, an unincorporated territory of the United States, * Spanish Virgin Islands, the easternmost islands of the Comm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Puerto Rico
Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated territories of the United States, unincorporated territory of the United States. It is located in the northeast Caribbean Sea, approximately southeast of Miami, Florida, between the Dominican Republic and the United States Virgin Islands, U.S. Virgin Islands, and includes the eponymous main island and several smaller islands, such as Isla de Mona, Mona, Culebra, Puerto Rico, Culebra, and Vieques, Puerto Rico, Vieques. It has roughly 3.2 million residents, and its Capital city, capital and Municipalities of Puerto Rico, most populous city is San Juan, Puerto Rico, San Juan. Spanish language, Spanish and English language, English are the official languages of the executive branch of government, though Spanish predominates. Puerto Rico ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
District Of Columbia
) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, National Cathedral , image_flag = Flag of the District of Columbia.svg , image_seal = Seal of the District of Columbia.svg , nickname = D.C., The District , image_map = , map_caption = Interactive map of Washington, D.C. , coordinates = , subdivision_type = Country , subdivision_name = , established_title = Residence Act , established_date = 1790 , named_for = George Washington, Christopher Columbus , established_title1 = Organized , established_date1 = 1801 , established_title2 = Consolidated , established_date2 = 1871 , established_title3 = Home Rule Act , ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lawmaker
A legislator (also known as a deputy or lawmaker) is a person who writes and passes laws, especially someone who is a member of a legislature. Legislators are often elected by the people of the state. Legislatures may be supra-national (for example, the European Parliament), national (for example, the United States Congress), or local (for example, local authorities). Overview The political theory of the separation of powers requires legislators to be independent individuals from the members of the executive and the judiciary. Certain political systems adhere to this principle, others do not. In the United Kingdom, for example, the executive is formed almost exclusively from legislators (members of Parliament) although the judiciary is mostly independent (until reforms in 2005, the Lord Chancellor uniquely was a legislator, a member of the executive - indeed, the Cabinet - and a judge, while until 2009 the Lords of Appeal in Ordinary were both judges and legislators as member ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Claimant
A plaintiff ( Π in legal shorthand) is the party who initiates a lawsuit (also known as an ''action'') before a court. By doing so, the plaintiff seeks a legal remedy. If this search is successful, the court will issue judgment in favor of the plaintiff and make the appropriate court order (e.g., an order for damages). "Plaintiff" is the term used in civil cases in most English-speaking jurisdictions, the notable exceptions being England and Wales, where a plaintiff has, since the introduction of the Civil Procedure Rules in 1999, been known as a "claimant" and Scotland, where the party has always been known as the "pursuer". In criminal cases, the prosecutor brings the case against the defendant, but the key complaining party is often called the "complainant". In some jurisdictions, a lawsuit is commenced by filing a summons, claim form or a complaint. These documents are known as pleadings, that set forth the alleged wrongs committed by the defendant or defendants with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute
A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by legislative bodies; they are distinguished from case law or precedent, which is decided by courts, and regulations issued by government agencies. Publication and organization In virtually all countries, newly enacted statutes are published and distributed so that everyone can look up the statutory law. This can be done in the form of a government gazette which may include other kinds of legal notices released by the government, or in the form of a series of books whose content is limited to legislative acts. In either form, statutes are traditionally published in chronological order based on date of enactment. A universal problem encountered by lawmakers throughout human history is how to organize published statutes. Such publications h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
