Lottery Business Models

Lottery Business Models – Insured VS Uninsured Lottery Tickets So what exactly is this all about, you wonder? Well, let’s get the simple one out of the agenda – the uninsured lottery ticket. Uninsured lottery tickets are those that you virtually buy through an agent. Are we clear here? Let’s get to the more complex […]

Read More

National Insurance Awareness Day

National Insurance Awareness Day exists and is celebrated every year on June 28. While the origin of this day is a mystery, what’s widely known is how important insurance is in many aspects of our lives. The word ‘insurance’ is derived from the French word ‘ensurer’ and originally meant an ‘engagement to marry’. Over time […]

Read More

Products-completed operations exposure

A woman is injured when she breaks a tooth on a rock that mysteriously found its way into a box of cereal. This is an example of which of the following? Options: Premises and operations exposure Products-completed operations exposure Contingent liability exposure Contractual liability exposure Image result for A woman is injured when she breaks […]

Read More

Non renewal

The insured’s policy is nearing the expiration date. The insurance company doesn’t want to continue the insured’s coverage, so it sends the insured a notice that the policy will not continue beyond the expiration date of the policy. This is considered which of the following? Options: Flat cancellation Non renewal Pro rata cancellation Unearned renewal […]

Read More

Special Investigation Units

As part of their claims services, some insurers have set up special investigation units (SIUs) Their responsibilities include: Options: Establishing underwriting policies and risk and class limits to serve as guidelines for all business offered. Investigating suspicious claims involving fraud and insurance crime. Establishing yearly targets. Overseeing the overall management of the administration and efficiency […]

Read More

Car insurance for male teenagers can be surprisingly costly

College costs aren’t all you’ll face as your teenagers start driving: You’ll also need to have them covered by car insurance, and that can be quite expensive. The folks at insurance have noted, “A parent adding a male teen to their policy can expect their new rate to run as high as $6,186, and in […]

Read More

Loss-of-value Insurance Coverage

Loss-of-value Insurance Coverage protects the future earnings of promising college athletes, who are projected to feature highly in the NFL, NBA, MLB or NHL drafts. The coverage is typically purchased as an add-on to a permanent total disability insurance policy, and is meant to protect against the potential adverse impact a serious injury or illness […]

Read More

Personal Insurance Policy

The soccer legend- David Beckham had his legs insured in 2006 for £100 million, which was then considered to be the largest personal insurance policy in sporting history. In similar manner, Ronaldo had his legs insured by Real Madrid for a massive $144 million. In another instance, U.K. coffeehouse chain Costa Coffee insured the taste […]

Read More

Named Insured on the policy

Walt and Joanna are co-owners of a bagel shop. Both Walt and Joanna are listed in the declarations of the policy that insures the business, with Joanna’s name appearing first. The declarations also list First State Bank, which has an outstanding loan on the business. Who is considered a named insured on the policy? Options: […]

Read More

Risk Management Method

Highpoint Industries has an automatic sprinkler system installed in its office building. This is an example of which risk management method? Options: Avoidance Reduction Retention Transfer Image result for risk reduction management Answer: Option 2 is correct. A sprinkler system can reduce the severity of fires, but it does not prevent them altogether.

Read More

Federal government

Who administers the NFIP (The National Flood Insurance Program)? Options: State insurance department Federal government Private insurance companies The National Association of Insurance Commissioners Answer: Option 2 is correct. The federal government created the NFIP to make Flood insurance available to eligible communities through federal subsidization. It is managed by the Federal Insurance Administration.

Read More

Microservices

The term microservices portrays a software development style that has grown from contemporary trends to set up practices that are meant to increase the speed and efficiency of developing and managing software solutions at scale. Microservices is more about applying a certain number of principles and architectural patterns as architecture. Each microservice lives independently, but […]

Read More