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Cost Comparison of Rating Programs for Traditional Insurance

Traditional commercial insurance policies may be priced through a guaranteed cost rating, a dividend program, or a retrospective rating. Each of these alternatives has distinctive features that could affect the effectiveness of a risk management...

Unfair Claims Settlement Practices Act

When an insured or a beneficiary submits a claim to an insurer, the insurer has a duty to respond and to do so in a certain manner. The Unfair Claims Settlement Practices Act (UCSPA), a model act adopted in over 40 states, provides industry...

Indemnity vs. Liability Policies

Indemnity policies

In indemnity policies, an insured's cause of action against an insurer arises when the insured suffers a money loss in order to discharge his liability (e.g., he pays a judgment). Thus, a...

Aviation Insurance Pools

Insurance pools have developed in response to the magnitude of potential losses from an occurrence involving aviation. Aviation insurance generally covers risks arising from the operation of aircraft and ground facilities for aircraft. A single...

Insurance Considerations in Mergers and Acquisitions

Insurance policies may be considered significant assets of a company engaged in a merger or acquisition. Although comprehensive general liability policies often contain an anti-assignment clause, such clauses normally are narrowly construed to...