RECENT NEWS
The Hindu Business Line  5 hrs ago  Comment 
The complaints and grievances from the policyholders are not being handled by the insurers properly, the Insurance Regulatory and Development Authority of India has said. In a circular s...
Forbes  Apr 24  Comment 
After 90 minutes of explaining how he built Blastingnews.com from the obscure content arm of an insurance price comparison website into Italy’s third most popular newspaper, Andrea Manfredi changes tack.
Insurance Journal  Apr 24  Comment 
RENO, Nev.-based Employers Holdings Inc. has named Lori A. Brown senior vice president and deputy general counsel. Brown  is based out of the company’s San Francisco and Walnut Creek, Calif. offices. She is the company’s primary attorney for...
Insurance Journal  Apr 24  Comment 
Horse owners and private air strip operators in Michigan would be exempt from liability in certain cases where people are injured under two bills that have moved through the Republican-controlled House. One bill, passed by a 79-31 vote, would add...
Insurance Journal  Apr 24  Comment 
Ferguson, Mo., was sued by the family of an unarmed black teenager whose fatal shooting by a police officer triggered nationwide protests, while subsequent deaths at the hands of police fueled a national debate about how law enforcement treats...
Insurance Journal  Apr 24  Comment 
A decade-old lawsuit seeking damages from the U.S. government over flooding from Hurricane Katrina and other storms is moving closer to resolution, and a judge’s latest filing indicates that at least some damages will be ordered. Judge Susan...
Insurance Journal  Apr 24  Comment 
Texas could put red light cameras in the rearview mirror under a bill that has cleared the Texas Senate. Republican Sen. Bob Hall said that red light cameras “have failed miserably” before his bill was sent over to the House. … The article...
Motley Fool  Apr 24  Comment 
Car insurance rates can skyrocket, but not necessarily for long.
The Hindu Business Line  Apr 24  Comment 
Majesco, a global provider of core systems and services to the insurance industry, has signed agreements with four North American insurance carriers in the last one month. Financial detail...




 
TOP CONTRIBUTORS

The basics of insurance are simple: one company offers a guarantee future payment for a contracted event. The company offering the guarantee charges a premium for insuring against the event's occurence - in doing so, the insurance company is protecting the client against certain circumstances, say physical capital loss due to a natural disaster. The insurance company assumes all financial responsibility associated with the client’s losses.

Where the business gets complicated is in the calculations of premiums. This involves the use of complex stochastic probabilty models meant to simulate the likelihood of a given event’s occurrence. Not all events are created equal, from an insurance perspective - for some types of insurance a company can accurately predict the probability of occurence (say, automobile insurance, which has such a large sample to study that companies can make accurate predictions and judgments about demographic groups). For events that are harder to predict (say, the future value a Mortgage-Backed Security (MBS)) insurance companies take on greater risk when they issue policies.

The insurance sector itself is segmented into four distinct sub-sectors: Life Insurance, Property & Casualty Insurance, Accident & Health Insurance, and Miscellaneous Insurance.

Insurance Industry Sub-Sectors

DarkLord3188 on June 26, 2010 bit . ly/aJFEMiSaving money with InsureMyCar4Less is simple. After you fill out our quick onilne form, you get free auto insurance quotes from the best providers in the industry. They compete for your business, and you save money.bit . ly/aJFEMi

Property & Casualty Insurance

Casualty insurance deals with policies that are written to hedge against the risk of unforeseen accidents. Some examples are insurance policies for auto accidents or losses incurred at sea (Marine Insurance). In general, casualty insurance hedges against risks associated with liability and crime.

Companies within the Casualty and Property Insurance Sub-Sector

Accident & Health Insurance

Health insurance deals with policies that are written to hedge against the risk of unexpected or unexpectedly high health costs. Interestingly, the insurer of health insurance policy can either be from the private sector or the public sector, subsidized by taxes.

Companies within the Accident and Health Insurance Sub-Sector

Financial Guarantors/Assurance

Assurance/guarantor companies provide insurance against default on credit instruments. They collect premiums to insure bonds against defaults and/or losses in value through insurance policies generally called "insurance enhancement products". Some examples are:

Miscellaneous Insurance

Companies within the Misellaneous Insurance Sub-Sector:

Whats Moving the Insurance Sector

Retiring Baby Boomer Generation/Convergence of Insurance Sector and Financial Industry

As the first of the baby boomers are set to retire within the next few years, financial and insurance firms remain pitted in a battle to provide them with financial funds to fuel their retirement. The traditional methods of retirement finance such as social security, 401ks, and corporate pension plans are becoming increasingly riskier as government legislature struggles to find a solution to social security deficits and companies find it harder and harder to meet the promises of current pension plans. Since the lines between financial institutions and insurance institutions has been blurred with the repeal of the 1999 repeal of the Glass-Steagall Act, which restricted the ability of insurance companies to provide financial services, aging baby boomers have become an increasingly attractive market to insurance companies.

To compete with the corporate pensions plans provided by the company, insurance companies are offering annuities to retirees. Annuities come in many, often complex, forms and packages. However, the underlying concept remains the same: purchase of the annuity is made with an upfront lump sum, with the promise of a steady periodic income as long as the contract requires.

Since they're wrikong on a solution already, my guess is that they will not want to bother using SPAAR's data in the interim since it would be for so limited a time.I'm always chomping at the bit for the latest and greatest info so I'll post it as soon as it's available! Reply</a>

Companies in the Insurance Industry (90)

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