LYCOS RETRIEVER 
Insurance: Insurance Company
built 480 days ago
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. Insurer is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the [P]remium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
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Insurance carriers have discovered that the Internet can be a powerful tool for reaching potential and existing customers. Most carriers use the Internet simply to post company information, such as sales brochures and product information, financial statements, and a list of local agents. However, an increasing number of carriers are starting to expand their Web sites to enable customers to access online account and billing information, and some carriers even allow claims to be submitted online. Many carriers ... provide insurance quotes online based on the information submitted by customers on their Internet sites. In fact, some carriers will allow customers to purchase policies through the Internet without ever speaking to a live agent.
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-- Today, GMAC Insurance announced the company will reduce its auto insurance rates in South Carolina, effective immediately. Drivers in the Palmetto State can expect to save an average of seven percent when purchasing GMAC Insurance coverage from 192 South Carolina-based independent agencies. With fuel prices surging, these rate decreases will help customers manage their transportation costs, giving them a much-needed break. What's more, GMAC Insurance's exclusive GM Loyalty Discount has increased, which means policies with only GM vehicles now get up to 5% off liability coverage.
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On January 16, 2008, the Florida Office of Insurance suspended Allstate's right to do business in Florida after it claimed Allstate refused to comply with subpoenas issued to the company. The company sought relief from the First District Court of Appeals. The Court suspended the suspension, but demanded accelerated briefing by the parties.
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Insurance companies are rated by various agencies such as A. M. Best. The ratings include the company's financial strength, which measures its ability to pay claims. It ... rates financial instruments issued by the insurance company, such as bonds, notes, and securitization products.
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