know insurances law,rights and obligations
Self-insurance is financial strategy in which an individual or organization puts aside funds to cover potential losses instead of using standard insurance. If you’ve ever shopped for life insurance, you’ve probably asked yourself: Do I need this? Even if you’re confident the answer is yes, there’s a likelihood you’ve wondered how much of it you…
How to get insurance through the ACA Health Insurance Marketplace The Affordable Care Act (ACA) gives more people access to health insurance. Use the ACA’s Health Insurance Marketplace to find more affordable health insurance options. Find out if you are eligible for a Health Insurance Marketplace plan See if you are eligible to use the…
Regulation State-based insurance regulatory system Historically, the insurance industry in the United States was regulated almost exclusively by individual state governments. The first state commissioner of insurance was appointed in New Hampshire in 1851 and the state-based insurance regulatory system grew as quickly as the insurance industry itself. Prior to this period, insurance was primarily…
HISTORY INSURANCE The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in 1735. In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contribution ship, which is the nation’s oldest insurance carrier still in operation. Franklin’s company was the first to make contributions…
Navigating Auto Insurance Requirements in the United States Crash In the United States, automotive insurance covering liability for injuries and property damage is compulsory in most states, but different states enforce the insurance requirement differently. Penalties for not purchasing insurance vary by state, but often include a substantial fine, license and/or registration suspension or revocation,…
Loan/lease payoff Loan/lease payoff coverage, also known as GAP coverage or GAP insurance, was established in the early 1980s to provide protection to consumers based upon buying and market trends. Due to the sharp decline in value immediately following purchase, there is generally a period in which the amount owed on the car loan exceeds…
Coverage generally Different levels of coverage may protect consumers depending on which insurance policy they purchase. Coverage is sometimes seen as 20/40/15 or 100/300/100. The first two numbers seen are for medical coverage. In the 100/300 example, the policy will pay $100,000 per person up to $300,000 total for all people. The last number covers…
