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What else can I help you with?
Which of these instruments involves the insurer agreeing to make periodic payments to the insured at some future data?
annuities....
How is your Annuity insured?
Usually it is backed by the financial strength of the issuing insuance company. Answer 2 But more usually government bonds are bought to cover the payments to be made by the insurer. This guarantees (as far as one can guarantee anything) that the annuity payments are safe. The financial strength of the insurer is a very vague measurement - who'd have thought that an insurer like AIG (massive financial strength?) would go under.
Are medical payments from your own insurance paid to you or medical provider in an auto accident?
They are usually paid directly to the provider. The injured party provides insurance information to the treating physician, who then bills the insurer for treatment rendered. These payments are often made under the insured's "no-fault" coverage.
What is the difference between insured and insurer?
The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a covered loss. That which is covered by the policy is set forth in the insurance policy.
What is The different between insurer and insured?
The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a covered loss. That which is covered by the policy is set forth in the insurance policy.
What is the contribution of insurer to insured?
The contribution of an insurer to the insured primarily involves providing financial protection against specified risks in exchange for premium payments. This includes covering losses from events such as accidents, natural disasters, or health issues, thereby mitigating the financial impact on the insured. Additionally, insurers offer resources and support for risk management, helping clients reduce their exposure to potential losses. Ultimately, the relationship aims to provide peace of mind and security for the insured.
In event of a loss after notice of a claim is submitted to insurer who is responsible for providing claims forms and to which party?
insurer to the insured
What if someones insurance refuses to pay for the damage his insured caused?
Listen to the explanation. It can be because the insured did not have the specific coverage to pay for your damage. For example, if the other party had collision coverage only on his/her auto policy, it would not pay for your damages because it covers only damage to his/her car. Liability coverage would be needed to pay for your damages. Another reason might be that the other party, especially if insured under a commercial policy, might have a large self-insured retention. This is similar in nature to a deductible, but applies to the liability coverage. The insurer is not obliged to pay until damages exceed the amount of the retention. Yet another reason is that even if the other party did once have liability coverage, it may have been canceled because the personh did not make the required premium payments. The insured is generally required to timely report the collision to his/her insurer so that the insurer can investigate. If there has been no report, or if the insured otherwise fails to cooperate with his/her insurer, coverage may be denied. Finally, the insurer, after investigation, may conclude that its insured did not cause the damage. If so, you will have to decide whether to sue the other party for damages. If the occurrence was one to which the insurance applies, the insurer will generally defend its insured in the suit and pay those damages which the insured is found to be legally liable.
Who bears the risk if the subject is insured against that particular risk?
The insurer
Who bears the risk if the subject is insured against particular risk?
The insurer
Who is third party in insurance?
third party is a party except insured or insurer, who may be subjected to a loss involved with the insured
What are the effects of subrogation?
Subrogation allows an insurer to pursue a third party responsible for a loss after compensating the insured, effectively transferring the right to recover costs from the insurer to the insurer itself. This process helps keep insurance premiums lower by allowing insurers to recoup payouts from those at fault. Additionally, it can lead to faster claim resolutions for the insured, as the insurer handles the recovery process. However, it may also create tension between the insured and the third party involved, particularly if the insured feels their rights are being undermined.
