Insurance FAQs:


Q: Is a insurance a means of protection from financial loss?

A: Yes.

Q: Is an insurance a form of contractual liability insurance that pays the insured a cash benefit if their marriage ends in divorce?

A: Yes.

Q: Is an insurance an insurance covering the damage that can be caused by wind events such as hurricanes?

A: Yes.

Q: Is an insurance governmental risk management pools?

A: Yes.

Q: Is an insurance a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property?

A: Yes.

Q: Is an insurance an insurance that covers a wide range of incidents and perils?

A: Yes, and except those noted in the policy.

Q: Was an insurance the Amicable Society for a Perpetual Assurance Office?

A: Yes, and founded in London in 1706 by William Talbot and Sir Thomas Allen.

Q: Is an insurance a type of insurance purchased by insurance companies or self-insured employers to protect against unexpected losses?

A: Yes.

Q: Is an insurance a form of reinsurance that is primarily used for capital management rather than to transfer insurance risk?

A: Yes.

Q: Is an insurance a three-party insurance guaranteeing the performance of the principal?

A: Yes.

Q: Is an insurance regulated by the states under the McCarran-Ferguson Act?

A: Yes, and with "periodic proposals for federal intervention", and a nonprofit coalition of state insurance agencies called the National Association of Insurance Commissioners works to harmonize the country's different laws and regulations.

Q: Is an insurance a form of casualty insurance that can be taken out by businesses with operations in countries in which there is a risk that revolution or other political conditions could result in a loss?

A: Yes.

Q: Is an insurance designed to protect individuals and corporations operating in high-risk areas around the world against the perils of kidnap?

A: Yes, and extortion, wrongful detention and hijacking.

Q: Is an insurance a specialized insurance protecting against damage arising specifically from volcanic eruptions?

A: Yes.

Q: Is an insurance business insurance over the accounts receivable of the insured?

A: Yes.

Q: Is an insurance a form of credit insurance?

A: Yes, although the name "credit insurance" more often is used to refer to policies that cover other kinds of debt.

Q: Is an insurance coverage that protects a person's or organization's insurable interest in materials?

A: Yes, and fixtures or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from an insured peril.

Q: Is an insurance a specialist policy provided to?

A: Yes, for example, commercial or hobby farms, aquariums, fish farms or any other animal holding.

Q: Is an insurance typically offered by a finance company when the vehicle owner purchases their vehicle?

A: Yes, but many auto insurance companies offer this coverage to consumers as well.

Q: Is an insurance known as an insured or policyholder?

A: Yes.

Q: Is an insurance usually used to pay for high-frequency?

A: Yes, and low-severity losses.

Q: Is an insurance a form of casualty insurance that covers the policyholder against losses arising from the criminal acts of third parties?

A: Yes.

Q: Is an insurance the deliberate decision to pay for otherwise insurable losses out of one's own money?

A: Yes.

Q: Is an insurance an insurance cover taken by those who travel abroad?

A: Yes, and which covers certain losses such as medical expenses, loss of personal belongings, travel delay, and personal liabilities.

Q: Is an insurance normally very limited in the scope of problems that are covered by the policy?

A: Yes.

Q: Is an insurance typically written on an "all risk" basis covering damage arising from any cause not otherwise expressly excluded?

A: Yes.

Q: Is an insurance provided on a cooperative basis by fraternal benefit societies or other social organizations?

A: Yes.

Q: Is an insurance subject to a deductible and obligates the insured to defend the insured against lawsuits?

A: Yes, and which is normally accomplished by assigning counsel to defend the insured.

Q: Is an insurance designed to cover professionals that engage in film and television production and print?

A: Yes, and against risks such as defamation.

Q: Is an insurance written on the basis of "pay on behalf" language which enables the insurance carrier to manage and control the claim?

A: Yes.

Q: Is an insurance a very old type of life insurance which is paid out upon death to cover final expenses?

A: Yes, such as the cost of a funeral.

Q: Is an insurance a method of establishing a premium on large commercial accounts?

A: Yes.

Q: Is a insurance a risk for both the insurance company and the insured?

A: Yes.

Q: Is an insurance different from peril-specific insurance that cover losses from only those perils listed in the policy?

A: Yes.

Q: Is an insurance aimed at providing protection on the products people purchase?

A: Yes.

Q: Was an insurance the Railway Passengers Assurance Company?

A: Yes, and formed in 1848 in England to insure against the rising number of fatalities on the nascent railway system.

Q: Is an insurance a type of insurance policy where insureds are indemnified by their own insurer regardless of fault in the incident?

A: Yes.

Q: Is an insurance often part of an employer's benefits?

A: Yes.

Q: Is a insurance just a risk transfer mechanism wherein the financial burden which may arise due to some fortuitous event is transferred to a bigger entity called an Insurance Company by way of paying premiums?

A: Yes.

Q: Is an insurance an alternative risk financing mechanism in which an organization retains the mathematically calculated cost of risk within the organization and transfers the catastrophic risk with specific and aggregate limits to an insurer so the maximum total cost of the program is known?

A: Yes.

Q: Is an insurance a very broad superset that covers legal claims against the insured?

A: Yes.

Q: Is an insurance known as an insurer?

A: Yes, and insurance company, or insurance carrier.