Insurance companies

Insurance companies may be classified into two groups:

• Life insurance companies, which sell life insurance, annuities and pensions products.
• Non-life, general, or property/casualty insurance companies, which sell other types of insurance.

General insurance companies can be further divided into these sub categories.

• Standard lines
• Excess lines

In most countries, life insurers and non-life are subject to different rules and different tax and accounting rules. The main reason for the difference between the two types of companies, life insurance, pension and retirement is the very long term in nature - coverage for life insurance or a pension can cover risks over several decades. Unlike non-life insurance, insurance is usually a shorter period, such as a year.

Insurance Financing Vehicle

• Fraternal insurance is on a cooperative basis by fraternal benefit societies or other social organizations made available .
• No fault insurance is a type of insurance (auto insurance in general) where the insured will be reimbursed by their own insurer regardless of fault in the incident.
• Protected Self-insurance is a financing alternative risk in which an organization retains the mathematically calculated cost of risk within the organization and provides the catastrophic risks associated with precise boundaries and shared an insurer so the maximum total cost of the program announced. A well designed and protected self-insurance program reduces and stabilizes the cost of insurance and provides valuable information for risk management.
• Insurance is nominal then a method for determining a premium on large commercial accounts. The final bonus will be provided to the actual loss experience during the

Property insurance

Property insurance provides protection against the risk of most property, such as fire, theft and weather. This includes specialized forms of insurance such as fire, flood insurance, earthquake insurance, home insurance or boiler insurance. Risks and hazards identified open - property insurance in two ways. Open hazards include all causes of loss not expressly excluded in the policy. General exemption from the open policy, including damage caused by the threat of earthquakes, floods, nuclear incidents, acts of terrorism and war. These risks require the actual cause of loss in a given insurance company listed. Named common dangers damage leading events such as fire, lightning explosion, and theft.

Types of coverage

There are three types of insurance. Replacement cost coverage pays the cost of replacing your home, regardless of the devaluation or revaluation. Premiums for this type of reporting is

Health insurance

Health insurance is insurance against losses due to medical costs among individuals. By estimating the overall risk of healthcare costs between groups, insurance companies can access the financial structure of the routine, concentrating as monthly premiums or payroll taxes to ensure that the resources available to pay for health benefits stated in the insurance contract. These advantages are achieved by a central organization such as government agencies, private or not be run-for-profit organization reached.

History and Development (United States)

In the late 19th Century, "accident insurance" began to be available that looks like modern disability insurance. This payment model continued until the early 20th Century in some states (eg California), where all the laws that actually name the disability insurance.

Auto insurance [1]

Auto insurance protects policyholders from financial loss in an incident with a vehicle that they own, such as in a traffic accident collision.

Coverage typically includes:

1. Property coverage for damage or theft of a car;
2. Liability insurance for legal liability to other parties for personal injury or property damage;
3. Medical care, the cost of injury treatment, rehabilitation and sometimes lost wages and funeral expenses.

Home Insurance

Home Insurance, commonly called hazard insurance or homeowners insurance is a form of property insurance that covers private households. This is an insurance, personal insurance protection, the losses to the house of a man content, loss of use (additional living expenses) or loss of personal belongings other than house and apartment owners as well as liability insurance for accidents that may occur home or in combination, in the hands of the homeowners in the area of ​​politics. It requires that at least one of these insured persons occupying the house. Residence Policy (DP) is similar, but used for residential buildings not eligible for various reasons, such as vacuum / non-residential buildings, seasonal / second homes or age.

Auto insurance [2]

Coverage levels

Car insurance may cover some or all of the following elements:

• The insured (medical payments)
• Car insurance (property damage)
• Third parties (car and person, property damage and injury)
• Third, fire and theft
• In some jurisdictions, coverage for bodily injury and driving the insured vehicle regardless of fault in a car accident (no fault car insurance) available

Different strategies which fall under what circumstances each element. For example, the vehicle against theft, fire, accident or damage to insured independent.

Types of insurance

Any risk that potential can be measured, can be insured. Certain types of risks, the claims, which might lead hazard known. An insurance policy is set out in detail the risks are covered by insurance and what does not. Below is a partial list of the various types of insurance available. A single policy may cover risks in one or more of the following categories. For example, car insurance is usually both property risks (theft or damage to vehicles) and the risk of loss (legal claims arising from accidents). A home insurance in the United States usually includes coverage for damage to home owners, certain legal claims against the owner, and hurt even a small amount of insurance coverage for medical expenses of guests that were on the property owner.