insurance. introduction put in the right order you find an insurance agent or broker you file/submit...
TRANSCRIPT
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INSURANCE
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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
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1. you decide to insure sth. against an accident/ theft or damage (or: seek insurance cover)
2. you find an insurance agent or broker3. you contract an insurance policy and pay
a premium for the insurance cover4. you file/submit a claim in case of an
accident 5. the insurance company settles a claim
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DESCRIBE THIS GRAPH
POOLOF PREMIUMS
CLAIMS
OVERHEADS
INVESTMENTS
INDUSTRY GOVERNMENT INDIVIDUALS
PROFITS
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WHO DOES IT: THE INSURER OR THE INSURED?
Provides coverConsults an agentQuotes a premiumPays the premiumCompletes a claim formIssues a policyRequests compensationGives insurance cover
RB p. 30
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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.
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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.
UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS
ADJUSTER?
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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.
UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS
ADJUSTER?
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The party to an insurance arrangement
who undertakes to indemnify for losses.
UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS
ADJUSTER?
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The person who works with many
insurance companies to find the very best
available policies for his or her clients.
UNDERWRITER/ BROKERINSURER/POLICY HOLDER/LOSS
ADJUSTER?
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DEFINE
UNDERWRITER
BROKER
INSURER
POLICY HOLDER
LOSS ADJUSTER
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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.