Financial Insurance: Definitions & Articles

What Is Financial Insurance?

Just like individuals insure themselves against financial risks that can be caused by illness or unemployment, businesses protect themselves with the help of financial insurance covering the financial losses incurred by, for example, a failure of their partners to deliver their contractual obligations, a sudden drop in the value of stocks, or the bankruptcy of the business partner.

Financial insurance can help companies fit the laws governing their industry as well as make them capable of maintaining policies insuring against claims related to contractual and legal obligations.

What Does Financial Insurance Cover?

Arguably the most important form of insurance carried by financial companies, financial insurance can cover for financial losses caused by all types of external forces, from market fluctuations to weather to unscrupulous or insolvent business partners.

How Much Could It Cost to Get Financial Insurance?

The key factors are the location of your business and its size, the type of the industry, the history of your claims, as well as your deductible and coverage limits. You may pay $500 to $1,000 a year for $1,000,000 of liability insurance covering injuries and property damage. But then again, the actual figure may be significantly lower or higher due to the peculiarities of the case.

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Insurance Guarantor: What is It & How Does it Work?

Your insurance guarantor is your ultimate protection against the unexpected. Learn how you can reinforce your contracts and get the peace of mind you deserve by including an insurance guarantor in the agreement.

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Insurance Producer 101: Job Responsibilities and Requirements

With about 300 million Americans having health insurance and thousands of insurance companies operating in the country, employing over 1.2 million insurance workers, it’s no wonder the term ‘insurance producer’ has long become a buzzword. The backbone of the insurance industry, insurance producers – or insurance agents, which is exactly the same – represent insurance companies to help […]

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MGA in Insurance: What You Might Need to Know

With leading insurer brokers serving millions of people and making tons of money, you might wonder how multi-million-dollar giants like State Farm Group, Berkshire Hathaway, and USAA manage to satisfy their clients all over the globe with tailor-made insurance solutions. Well, the answer is simple: MGA. Even though the abbreviation might seem unfamiliar to you […]

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Insurance Solvency: Ratio & Methods to Determine

With over 92% of Americans having health insurance and almost everyone having at least one type of insurance from one of the 6,000 insurance companies, it is clear that the choice of your insurer is crucial. The range of carriers is staggering, making selection a nightmare for those unprepared. Whether you are seeking life insurance, […]

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Yet Another Company Loses Insurance-Related Lawsuit: Goodwill Industries vs. Philadelphia Indemnity Insurance

Being one of the most burning topics among Americans, health insurance is prioritized by the vast majority of people, 92% of whom are covered by either public – Medicare or Medicaid – or private insurance companies.

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Greg Alcazar Is Now The New CFO of The U.S. Department of the Canopius Group

Headquartered from Jersey and operating all over the world – the United States, the United Kingdom, Australia, Singapore, Bermuda, and China being the main domains – the renowned reinsurer, Canopius Group, appointed Greg Alcazar as the new CFO of the U.S. operations, which became the latest change in the leadership of Canopius, following the appointment of Kate Roy as the new COO in October 2021.

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Understanding The Basics Of Mortgage Protection Insurance

Mortgage protection insurance is a specially tailored policy geared towards safeguarding a homeowner and household budget by assisting with repaying the mortgage if the contract holder dies before paying it out in full. Applicants generally do not have to do a check-up or provide health background information to be considered eligible and be allowed to […]

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Five Ways For Small Businesses To Prepare For Disasters

Imagine all the blood, sweat, tears, and money shed to start a small business. Imagine that a disaster strikes, and all that hard work goes up in flames, washes away in flood, or crumbles to the ground. Natural and artificial disasters will inevitably strike. The Federal Emergency Management Agency (FEMA) estimates that 40-60% of small […]

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A Brief Guide to Demystifying Computers Insurance

Insuring your gadgets is essential, especially if you’re constantly on the go. Laptops alone regularly disappear in coffee shops, airports, and public transport worldwide; that’s why many people opt-in for insurance instead. There are several ways to obtain insurance for computers. This guide will answer the most common insurance questions and help you discover how […]

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What Is Insurance And How Does It Work?

Being exposed to various risks and losses is an integral part of everyday life. That is why obtaining a practical understanding of how insurance works are crucial for identifying your needs and taking out appropriate coverage. Besides, collecting baseline information on an insurance policy can make a difference in its suitability and costs. Facing risks […]

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