Tag Archives: Business of Insurance

Insurance Blog Week In Review March 13-19, 2007

Insurance Term Of The Week: Underwriter I sure have been finding the Parental Liability Blogs very interesting to write. It seems that we are responsible for a wide range of things our children might do as we raise them. This series has sure made me rethink some of the things I expect from the system. Parenting is a real risk financially and some of the ways we are responsible are interesting. Wednesday, March 14, 2007. Four More Parental Liable Issues Negligent Supervision is a legal theory where a minor child’s parents are held liable for their child’s negligent acts when … Continue reading →

Underwrite, Underwriting and Insurance Underwriter–Who Are These People?

I once told a very wonderful editor that an Insurance Underwriter was just about the same job description as the editor of a bunch of Bloggers. When I first started in the Business of Insurance my best boss ever used to kindly refer to underwriters as “people from a different planet.” Of course, we did our very best to make sure we kept our underwriters happy, because they had an amazing skill of causing extra work when we didn’t do our end of things correctly. An Underwriter is an intermediary between the insurance company who offers to accept the liability … Continue reading →

What is an Insurance Adjuster?

Adjusters are the insurance experts who negotiate and settle insurance claims. Adjusters make the authorize payments to appraisers and assess to value of the loss. Adjusters may work with insurance investigators to address any issues a claim may have when there’s a question of liability or possible insurance fraud. Adjusters work with Insurance Agents, and companies in order to determine the extent of loss when a customer has a claim. Agents and companies report the policyholder’s claim to the company claims department, where an adjuster is assigned. Adjusters then work directly with the insured policyholder. They inform the insured which … Continue reading →

Insurance Carriers and the Internet.

Insurance carriers are the companies and there are two types of insurance carriers: direct and reinsurance. The Direct carriers are responsible for the initial insurance policy underwriting. Agents appointed to work in the field with the customers builds a book of business with the insurance company. The insurance company will look for reinsurance carriers to assume all or part of the risks connected with the insurance policies originally underwritten by direct insurance carriers. Direct insurance carriers often look for reinsurance on large portions of the risk they insure. Insurance for Insurance. Direct insurance carriers offer a variety of insurance policies … Continue reading →

Insurance Careers: Part One

A career in the insurance industry might be something to consider. In 2004 an estimated 2.3 million people earned a wage or salary working in careers that support the Business of Insurance. Insurance companies offered 62 percent of jobs, and insurance agencies, brokerages, and other insurance providers and insurance-related services made up the balance of 38 percent of jobs. The insurance industry also offered nearly 151,000 workers to be self-employed during 2004. The majority of these careers were mostly insurance agents. Insurance companies generally employ 250 or more workers and tend to have home or regional offices located in or … Continue reading →