Claims Made Definition: Understanding Insurance Policy Terms
Claims-made policies provide coverage when a claim is made during the policy period, requiring active coverage at both the incident's occurrence and claim filing.
Ryan Newman
Ryan Newman is an experienced insurance professional with over 20 years in the industry. He began as an underwriter, specializing in risk evaluation and coverage determination. His expertise includes creating risk profiles, tailoring policies, managing policy lifecycles, and streamlining claims processes. Known for his strategic approach and customer focus, Ryan has held senior roles in claims management and policy development. He shares insights at industry conferences and through published articles, promoting best practices in insurance.
Annual Renewable Term: Maximizing Insurance Flexibility and Savings
Annual renewable term life insurance provides yearly coverage with flexible premiums that increase with age, making it suitable for short-term needs and temporary financial obligations.
Loss of Use: Understanding Insurance Coverage and Claims
Loss of use coverage compensates homeowners and renters for additional living expenses when their residence becomes uninhabitable due to insured events like fires or storms.
Best Health Insurance for Type 1 Diabetes: Top Plans for Comprehensive Coverage
Type 1 diabetes requires specialized health insurance plans that offer comprehensive coverage, including insulin, glucose monitoring, and diabetes management services for effective treatment.
Adverse Selection Definition in the Insurance Industry Explained
Adverse selection causes market imbalances in insurance when high-risk individuals disproportionately purchase coverage, leading to increased premiums and potential market failure for insurers.
Catastrophic Loss: Mitigating Financial Risks in the Insurance Sector
Catastrophic losses are severe, unpredictable events, such as hurricanes and earthquakes, causing extensive financial damage and requiring specialized insurance coverage for protection.
Disability Insurance Trends and Insights for 2024
Disability significantly restricts individuals' physical or mental abilities, impacting their quality of life and access to healthcare, social support, and employment opportunities.
Coinsurance Clause Definition: Key Insights for Insurance Policyholders
Coinsurance requires policyholders to share costs after meeting their deductible, often at an 80/20 split, and mandates minimum property insurance levels to avoid penalties.
10 Things You Should Know Before Renewing Your Car Insurance: Essential Tips for Smart Coverage Decisions
Renewing car insurance requires understanding coverage options, premium costs, policy terms, discounts, and state regulations to ensure adequate protection and optimal financial decisions.
Advantages of Preferred Providers: Enhancing Insurance Efficiency and Customer Satisfaction
Health insurance terminology includes PPO, HMO, and POS plans, which vary in flexibility, costs, and referral requirements, influencing overall healthcare decisions and expenses.