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INSURANCE

INSURANCE. INTRODUCTION. PUT IN THE RIGHT ORDER you find an insurance agent or broker you file/submit a claim in case of an accident you decide to insure sth. against an accident/ theft or damage (or: seek insurance cover)

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INSURANCE

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  1. INSURANCE

  2. INTRODUCTION PUT IN THE RIGHT ORDER • you find an insurance agent or broker • you file/submit a claim in case of an accident • you decide to insure sth. against an accident/ theft or damage (or: seek insurance cover) • you contract an insurance policy and pay a premium for the insurance cover • the insurance company settles a claim

  3. you decide to insure sth. against an accident/ theft or damage (or: seek insurance cover) • you find an insurance agent or broker • you contract an insurance policy and pay a premium for the insurance cover • you file/submit a claim in case of an accident • the insurance company settles a claim

  4. DESCRIBE THIS GRAPH POOL OF PREMIUMS CLAIMS OVERHEADS INVESTMENTS INDUSTRY GOVERNMENT INDIVIDUALS PROFITS

  5. WHO DOES IT: THE INSURER OR THE INSURED? • Provides cover • Consults an agent • Quotes a premium • Pays the premium • Completes a claim form • Issues a policy • Requests compensation • Gives insurance cover RB p. 30

  6. UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS ADJUSTER? • The person charged with evaluating an insurance claim to determine the insurance company's liability under the terms of an owner's policy.

  7. UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS ADJUSTER? • The person who evaluates the risk and exposures of potential clients. S/he decides how much coverage the client should receive, how much they should pay for it, or whether even to accept the risk and insure them.

  8. UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS ADJUSTER? • A person or organization that has an insurance policy. S/he receives the specific types of coverage (life, health, etc.) stated in the policy, subject to the payment of premiums, usually on a monthly basis.

  9. UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS ADJUSTER? The party to an insurance arrangement who undertakes to indemnify for losses.

  10. UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS ADJUSTER? The person who works with many insurance companies to find the very best available policies for his or her clients.

  11. DEFINE UNDERWRITER BROKER INSURER POLICY HOLDER LOSS ADJUSTER

  12. INSURANCE IN FILMS • “Along came Polly” (2004) shows the adventures of conservative risk analyst (underwriter) Reuben Feffer, played by Ben Stiller. • "Double Indemnity“ (1944) shows a typical life insurance fraud spiced with murder (film noir). • "Sicko" (2007) is a documentary made by Michael Moore in which he criticises America's health insurance system and non-universal, for-profit health maintenance organizations.

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