Insurance

Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier (often called an "insurance company), is sells the insurance policy to customers. The customers, who are called the insured or policyholder, are the person or entity (which may be a private company or other organization) buying the insurance policy. The amount of money to the customer pays for a certain amount of insurance coverage is called the "premium". Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

The transaction involves the insured making a payment to the insurer in exchange for the insurer's promise to compensate (indemnity) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. In the event that the insured experiences a financial or personal loss which is covered by the insurance policy, the insured makes an insurance claim to the insurer. Insurance company claims adjusters and other insurance company employees assess the claim. Insurance policies typically set out certain circumstances or actions which will void the insurance policy; if the insurance policy is voided, then the insurer may not have to pay out the claim.

Latest News for: Ace insurance company

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Kanakuk lawsuit: Claim camp tricked abuse survivor into settlement heard in court Monday

Springfield News-Leader 18 Nov 2024
The lawsuit also names ACE American Insurance Company as a defendant, arguing it influenced the camp’s decision to conceal information ... David Mayer, who is also representing Yandell, said the insurance company was aware of abuse allegations “in March or April” prior to the call....
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Endo GUC Trust Provides Its Third Quarter 2024 Report

ACCESSWIRE 13 Nov 2024
McKinsey & Company, Inc. and McKinsey & Company, Inc ... ACE Property and Casualty Insurance Company, et al ... Subsequent Developments as of November 12, 2024 On October 18, 2024, the Trustee filed an amended complaint in the Ace Property and Casualty Insurance Company, et al....

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