Tag Archives: contract

What is the Business of Insurance?

The business of the insurance industry is to provide financial protection against a loss caused by an insured peril. The contract is the policy and the premium payment is the instrument binding the contract. Insurance carriers, or insurance companies other wise known as insurers. Offer a contract to customers based on underwriting terms. Insurance agencies and brokerages conduct the transaction of the business contract between the clients and the insurance companies. Insurance carriers are business companies assuming the financial risks insured under the terms of the policy contract with agents selling and servicing the insurance contract policy for the insurance … Continue reading →

Post Nuptial Agreements

I really do learn something new every day. What the heck is a post-nuptial agreement? Have you heard of this? I never had, so I looked into it a little bit after coming across a reference to it on a forum. Apparently, this is a legally binding contract (as long as it is deemed valid in your jurisdiction) which is entered into by a married couple, after making their vows. Pre-nuptial agreements are obviously entered into before the vows, and they tend to be more about money and assets than other issues. Yet, the post-nuptial agreement can encompass many other … Continue reading →

Hollywood Divorce—Studio Style

Tom Cruise is divorcing… his movie studio. (I’m sure the first half of that line would have been more effective if he was already hitched to fiancée Katie Holmes.) If you haven’t heard, the BIG news in Hollywood reads like this: “After 14 years together Cruise and Paramount Pictures have ended their professional relationship, with the studio blaming Cruise’s recent controversial behavior for the split.” Sumner Redstone, chairman of Paramount Pictures parent company Viacom, told the Wall Street Journal Tuesday: “It’s nothing to do with his acting ability, he’s a terrific actor,” studios executives said. “But we don’t think that … Continue reading →