Affordable Premium
If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, it is not likely that anyone will buy insurance, even if on offer. Further, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer.
If there is no such chance of loss, the transaction may have the form of insurance, but not the substance.
Insurance Books
Insurance News
- Understanding Out Of Network Health Costs Lawsuits 30 Mar 2009
What Does Out Of Network Mean? PPO and HMO health insurance plans use a network of medical service providers. These providers agree to abide by network rules, and of course, network price guidelines. So these providers, like doctors, hospitals, and therapists, agree to accept network charges for var… - Is A Life (Insurance Policy) Worth Less Today? 27 Mar 2009
What is a Life Settlement? People can sell their life insurance policies to a third party for less than the face value of the policy. The third party hopes to profit by collecting the proceeds when the covered person passes away. Typical sellers are retired people who decide the cash settlement wil… - Hope For Health Reform Compromise 25 Mar 2009
Even though people on all sides of the political spectrum admit that the US health care system cannot serve the needs of many citizens, reform keeps getting stalled. One of the big problems has been getting all of the different players to compromise. Health insurance companies, business management, … - 10 Most Outrageous Insurance Frauds 24 Mar 2009
In the movies they are played by Pierce Brosnan and Gene Hackman and justify art stealing or snatching of old Nazi German gold. In real life however they are unattractive and miserable figures devoted to the unglamorous and unforgiving life of insurance frauds. They do not have punch lines or happy …
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