PRIVATE INSURANCE COMPANIES INCORPORATED THE LAW
The insurance company usually is the same as the company's other businesses. Other businesses are looking for profit for the business entity run by his country in this case by selling insurance policies and invest the funds acquired from the company's capital, deposit revenue premiums, and surplus. Individual insurance company capital is obtained from the company.
The bear is an individual rather than an individual, that is to say on
indirect refines risk as well as underwriting at Lloyd's. Income earned from the coverage and investment are reflected in the balance sheet of the company. In contrast to the members of Lloyd's, the State-owned enterprises should not withdraw their funds directly from the company if they want to withdraw as the company. But they can sell their stock on the market. The price they get naturally depends on the assessment of the market potential for the company against it and the psychology of the market at that time.
Surveillance against the company are performed by the Board of Commissioners whose members are chosen by the State enterprises. The Board of Commissioners authorized the grant management and the management of the company to company officials. Clients of the company are the policyholders are usually burdened a particular fixed premiums. The company usually obtain their business through agents and Realtor-Broker insurance.
A Special Insurance Company Donations
The insurance company is often associated with people "through service agents". Assets and liability insurance company is strengthened and developed into what is known as "the American Agency system". Under this system a local entrepreneur is the insurance agent for himself. He was the intermediary between insurance companies and insurance buyers. He does not limit his Agency's activities to an insurance company only. These agents earn commissions over the expected service she did good for the company as well as to their subscription.
An
independent agent is not to be confused with the dealer directly (also
known as exclusive agents) which are used by almost all life insurance
companies and some insurance companies are big and famous treasures. This direct agents of carrying out most of the servicing carried out by an independent agency, but it is limited in some areas of the service because he had only expected to put the whole of its business with insurance companies it represents, or at least give a chance first advance to the insurance company that represents it.
In General, agents are expected to carry out the purchase function for the customers and the sales function for the company. He should shoulder the responsibility to each party. For his company, this agent must help choose the parties will be borne, take care of the necessary forms for insurance it, sometimes writing policies, collect premiums, and in some insurance join amends-a small loss.
Agents have a number of duties to the parties to the paid. He must help the customers not only to determine the possibilities of disadvantage, but also its possibilities which should be covered with insurance. Then he shall prescribe the form of the right policy for the insurance he wants closure, and placed it on an insurance company is healthy, competent and trustworthy based on terms – these terms the best there is in terms of cost, closure, and loss prevention and continuity of service of the claim.
The opposite of public opinion, the insurance is not always easy to acquire it. Company – insurance companies are not always easy to acquire it. Company – insurance companies will not want to make policy if they feel it will not profit from the business. Insurance against a specific type of disaster types – and losses against certain types of wealth – type contains the danger of unfavorable on the level of premiums that can be assumed and therefore difficult to put him. Agent – an agent that provides a profitable business to their company, sometimes a company can persuade them to accept the kind of business that is not profitable in normal circumstances be rejected. The ability of an agent to put business accommodation (as commonly referred) this is the benefit of dealing with the company – the company supplies. If a client expects the insurance agent can put the less pleasant business (undesirable), it should also give him a favourable (desirable). Car insurance for teenage riders are an example of fields. If the dealer has placed insurance for possible losses to the family business at a particular insurance company, agent that might be able to persuade insurance companies to also make car insurance for the pride and pleasure of that family who dropped out of school. This is of course subject to the proviso – there's no sign of danger bearing of such great notes another major offences – serious traffic infringement and others – other.
OVERVIEW
The insurance industry consists of many different kinds of insurance companies – different. However, he can be in two main categories into a classification that is private and Government. Insurance company ownership and insurance cooperative. Possession of insurance discussed in this chapter. Two types of insurance ownership operating in the United States is not the law and the law of the flesh.
Insurance company owner who is not a legal body represented by individual insurer (underwriter individually), and the most important of which are those who gathered at the Lloyd's of London. The American Lloyd's, even though the outside is similar to Lloyd's of London, but in some important things could not match his namesake counterparts.
Insurance companies have incorporated the law called the company's stock capital. They mastered the field of insurance of property but the percentage of life insurance business which can be caught much smaller.
