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Risk Retention Group
A risk retention group (RRG) in business economics is an alternative risk transfer entity in the United States created under the federal Liability Risk Retention Act (LRRA). RRGs must form as liability insurance companies under the laws of at least one state—its charter state or domicile. The policyholders of the RRG are also its owners and membership must be limited to organizations or persons engaged in similar businesses or activities, thus being exposed to the same types of liability. A risk retention group is a corporation or limited liability association formed under the laws of any state for the primary purpose of assuming liability exposures on behalf of its members. Members of the group must be engaged in similar activities or related with respect to liability exposures by virtue of any related or common business exposure, trade, product, service, or premise. Members must have an ownership interest in the group and only members may benefit from the group. Risk retention g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Economics
Business economics is a field in applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets.Moschandreas, Maria (2000). ''Business Economics'', 2nd Edition, Thompson Learning,Descriptionand chapter-previelinks A professional focus of the journal '' Business Economics'' has been expressed as providing "practical information for people who apply economics in their jobs." Business economics is an integral part of traditional economics and is an extension of economic concepts to the real business situations. It is an applied science in the sense of a tool of managerial decision-making and forward planning by management. In other words, business economics is concerned with the application of economic theory to business management. Business economics is based on microeconomics in two categories: pos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arizona
Arizona ( ; nv, Hoozdo Hahoodzo ; ood, Alĭ ṣonak ) is a U.S. state, state in the Southwestern United States. It is the list of U.S. states and territories by area, 6th largest and the list of U.S. states and territories by population, 14th most populous of the 50 states. Its capital city, capital and List of largest cities, largest city is Phoenix, Arizona, Phoenix. Arizona is part of the Four Corners region with Utah to the north, Colorado to the northeast, and New Mexico to the east; its other neighboring states are Nevada to the northwest, California to the west and the List of states of Mexico, Mexican states of Sonora and Baja California (state), Baja California to the south and southwest. Arizona is the 48th state and last of the contiguous United States, contiguous states to be admitted to the Union, achieving statehood on February 14, 1912. Historically part of the territory of in New Spain, it became part of independent Mexico in 1821. After being defeated in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Financing
In business economics, risk financing is concerned with providing funds to cover the financial effect of unexpected losses experienced by a firm. Traditional forms of finance include risk transfer, funded retention by way of reserves (often called self-insurance) and risk pooling. Alternative risk finance is the use of products and solutions which have grown out of the convergence of the banking and insurance industry. They include captive insurance companies and catastrophic bonds, and finite risk products such loss portfolio transfers and adverse development covers. Professor Lawrence A. Cunningham Lawrence A. Cunningham (born July 10, 1962) is a corporate director and advisor, author, professor and lawyer. He is the founder and managing partner of the Quality Shareholders Group and special counsel with Mayer Brown LLP, the international law ... of George Washington University suggests adapting cat bonds to the risks that large auditing firms face in cases asserting massive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Outline Of Finance
The following outline is provided as an overview of and topical guide to finance: Finance – addresses the ways in which individuals and organizations raise and allocate monetary resources over time, taking into account the risks entailed in their projects. Overview The term finance may incorporate any of the following: * The study of money and other assets * The management and control of those assets * Profiling and managing project risks Fundamental financial concepts * Finance ** Arbitrage ** Capital (economics) ** Capital asset pricing model ** Cash flow ** Cash flow matching ** Debt *** Default *** Consumer debt *** Debt consolidation *** Debt settlement *** Credit counseling *** Bankruptcy *** Debt diet *** Debt-snowball method *** Debt of developing countries **Asset types *** Real Estate *** Securities *** Commodities *** Futures *** Cash ** Discounted cash flow ** Financial capital *** Funding ** Entrepreneur *** Entrepreneurship ** Fixed income ana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Regulatory Law
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed by statutory law enacted by the state legislatures. However, federal law, court decisions and administrative adjudications also play an important role. Purpose Insurance is characterized as a business vested or affected with the public interest. Thus, the business of insurance, although primarily a matter of private contract, is nevertheless of such concern to the public as a whole that it is subject to governmental regulation to protect the public’s interests. Therefore, the fundamental purpose of insurance regulatory law is to protect the public as insurance consumers and policyholders. Functionally, this involves: * Licensing and reg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California
California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the most populated subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles area and the San Francisco Bay Area are the nation's second and fifth most populous urban regions respectively, with the former having more than 18.7million residents and the latter having over 9.6million. Sacramento is the state's capital, while Los Angeles is the most populous city in the state and the second most populous city in the country. San Francisco is the second most densely populated major city in the country. Los Angeles County is the country's most populous, while San Bernardino County is the largest county by area in the country. California borders Oregon to the north, Nevada and Arizona to the ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York (state)
New York, officially the State of New York, is a state in the Northeastern United States. It is often called New York State to distinguish it from its largest city, New York City. With a total area of , New York is the 27th-largest U.S. state by area. With 20.2 million people, it is the fourth-most-populous state in the United States as of 2021, with approximately 44% living in New York City, including 25% of the state's population within Brooklyn and Queens, and another 15% on the remainder of Long Island, the most populous island in the United States. The state is bordered by New Jersey and Pennsylvania to the south, and Connecticut, Massachusetts, and Vermont to the east; it has a maritime border with Rhode Island, east of Long Island, as well as an international border with the Canadian provinces of Quebec to the north and Ontario to the northwest. New York City (NYC) is the most populous city in the United States, and around two-thirds of the state's populat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nevada
Nevada ( ; ) is a state in the Western region of the United States. It is bordered by Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. Nevada is the 7th-most extensive, the 32nd-most populous, and the 9th-least densely populated of the U.S. states. Nearly three-quarters of Nevada's people live in Clark County, which contains the Las Vegas–Paradise metropolitan area, including three of the state's four largest incorporated cities. Nevada's capital is Carson City. Las Vegas is the largest city in the state. Nevada is officially known as the "Silver State" because of the importance of silver to its history and economy. It is also known as the "Battle Born State" because it achieved statehood during the Civil War (the words "Battle Born" also appear on its state flag); as the " Sagebrush State", for the native plant of the same name; and as the " Sage-hen State". The name means "snowy" in Spanish, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hawaii
Hawaii ( ; haw, Hawaii or ) is a state in the Western United States, located in the Pacific Ocean about from the U.S. mainland. It is the only U.S. state outside North America, the only state that is an archipelago, and the only state geographically located within the tropics. Hawaii comprises nearly the entire Hawaiian archipelago, 137 volcanic islands spanning that are physiographically and ethnologically part of the Polynesian subregion of Oceania. The state's ocean coastline is consequently the fourth-longest in the U.S., at about . The eight main islands, from northwest to southeast, are Niihau, Kauai, Oahu, Molokai, Lānai, Kahoolawe, Maui, and Hawaii—the last of these, after which the state is named, is often called the "Big Island" or "Hawaii Island" to avoid confusion with the state or archipelago. The uninhabited Northwestern Hawaiian Islands make up most of the Papahānaumokuākea Marine National Monument, the United States' largest prot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Carolina
)'' Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no) , anthem = "Carolina";" South Carolina On My Mind" , Former = Province of South Carolina , seat = Columbia , LargestCity = Charleston , LargestMetro = Greenville (combined and metro)Columbia (urban) , BorderingStates = Georgia, North Carolina , OfficialLang = English , population_demonym = List of U.S. state residents names, South Carolinian , Governor = , Lieutenant Governor = , Legislature = South Carolina General Assembly, General Assembly , Upperhouse = South Carolina Senate, Senate , Lowerhouse = South Carolina House of Representatives, House of Representatives , Judiciary = South Carolina Supreme Court , Senators = , Representative = 6 Republicans1 Democrat , postal_code = SC , TradAbbreviation = S.C. , area_rank = 40th , area_total_sq_mi = 32,020 , area_total_km2 = 82,932 , area_land_sq_mi = 30,109 , area_land_km2 = 77,982 , area_water_sq_mi = 1,911 , area_wat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Montana
Montana () is a U.S. state, state in the Mountain states, Mountain West List of regions of the United States#Census Bureau-designated regions and divisions, division of the Western United States. It is bordered by Idaho to the west, North Dakota and South Dakota to the east, Wyoming to the south, and the Provinces and territories of Canada, Canadian provinces of Alberta, British Columbia, and Saskatchewan to the north. It is the List of U.S. states and territories by area, fourth-largest state by area, the List of U.S. states and territories by population, eighth-least populous state, and the List of U.S. states and territories by population density, third-least densely populated state. Its state capital is Helena, Montana, Helena. The western half of Montana contains numerous mountain ranges, while the eastern half is characterized by western prairie terrain and badlands, with smaller mountain ranges found throughout the state. Montana has no official nickname but several ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liability Insurance
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy. Originally, individual companies that faced a common ''peril'' formed a group and created a self-help fund out of which to pay compensation should any member incur loss (in other words, a mutual insurance arrangement). The modern system relies on dedicated carriers, usually for-profit, to offer protection against specified perils in consideration of a premium. Liability insurance is designed to offer specific protection against third-party insurance claims, i.e., payment is not typically made to the insured, but rather to someone suffering loss who is not a party to the insurance contract. In general, damage caused intentionally as well as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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