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Understanding Insurance

Description

Property & Liability Insurance Principals Mind Map on Understanding Insurance, created by jaime.gard on 20/01/2014.

Mind Map by jaime.gard, updated more than 1 year ago

	Created by jaime.gard almost 11 years ago

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Resource summary

Understanding Insurance

Major Roles of Insurance
1. As a risk management teqnique
  1. Loss Prevention
  2. Loss Reduction
2. As a risk transfer system
  1. Transfer Cost of Losses
  2. Share Cost of Losses
3. As a business
  1. Property/Casualty Insurance
  2. Life/Health Insurance
4. As a contract
  1. Utmost Good Faith
  2. Contract of Adhesion
  3. Contract of Indemnity
Common Types of Personal & Commercial Insurance
1. Personal Insurance
  1. Property & Liability
    1. Homeowners
    2. Personal Auto Policy
    3. Personal Watercraft
    4. Umbrella Liability
    5. Liability Coverage
    6. Comprehensive Coverage
  2. Life & Health
    1. Life Insurance
    2. Health Insurance
    3. Long Term Care Insurance
    4. Annuities
2. Commercial Insurance

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