Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

insurance company

Read a random definition: conjurator

A quick definition of insurance company:

An insurance company is a business that sells insurance policies to people or other businesses. When you buy insurance from a company, you pay them money (called a premium) to protect you from certain risks. For example, if you buy car insurance, the company will pay for damages if you get into a car accident. There are different types of insurance companies, including ones that are owned by their policyholders (called mutual insurance companies) and ones that are owned by shareholders (called stock insurance companies).

A more thorough explanation:

An insurance company is a business that provides insurance policies to individuals or organizations. These policies protect against financial losses due to unexpected events, such as accidents, illnesses, or natural disasters.

  • Captive Insurance Company: A company that insures the liabilities of its owner. The insured is usually the sole shareholder and the only customer of the company.
  • Mixed Insurance Company: An insurance company that has characteristics of both stock and mutual companies. It distributes part of the profits to stockholders and also makes distributions to the insureds.
  • Mutual Insurance Company: An insurance company whose policyholders are both insurers and insureds. They pay premiums into a common fund, from which claims are paid. The policyholders are the owners of the company, as opposed to a stock insurance company owned by outside shareholders.
  • Stock Insurance Company: An insurance company operated as a private corporation and owned by stockholders who share in the company's profits and losses.
  • Stock Life-Insurance Company: A stock insurance company that does life-insurance business.

For example, a person may purchase car insurance from a stock insurance company. The company is owned by shareholders who invest in the company and share in its profits and losses. The policyholder pays premiums to the company, and in return, the company provides coverage for any damages or losses resulting from a car accident.

insurance commissioner | insurance of the person

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
[] c0bra1
16:14
damn my wake forest withdrawal didnt help the wl ppl 💀
MrThickRopes
16:15
what they gon collect frum me
MrThickRopes
16:15
nothin
Fuck fo pm
MrThickRopes
16:24
thas right
BlueFalcon95
16:25
Das right
hey, just so u all know - i just farted
i luv u all and will be seeing u all shortly
17:02
I floated marquettes deadline hopefully someone on the WL is thankful
18:10
safety
18:56
Ughhhhhhhhhh
Lets gooo my school was gunning median this last cycle 🤣
21:37
movie recs?
starfishies
21:45
rankings out woo
eggan
22:06
NYU solos columbia any day
Washu, TX, Vandy all move up and did well at 14
I am shocked that NW drops to 10 and NYU moves up to 8
[] c0bra1
23:07
holy cow unc is 18 time to beg to get off the waitlist
[] c0bra1
23:08
"rankings don't matter" i chant as i reorder my preference list
23:22
are the rankings on US News&World Report accurate?
YM-Honor-Student
23:24
No those are incorrect
YM-Honor-Student
23:24
Kansas is t14 and Cornell is rank 50
YM-Honor-Student
23:25
@DrDresSays: I recommend Cinema Paradiso. Makes me cry everytime.
YM-Honor-Student
23:26
The rankings literally did not change in my opinion. Smh. Going by like job outcomes and constitutional law, stayed the same.
23:28
@YM-Honor-Student: thank you!
YM-Honor-Student
23:29
You are welcome!
YM-Honor-Student
23:33
UFlorida should be higher for winning march madness lol.
Napo
1:43
Oof ASU dropped hard
LovelyDay
4:46
Yeah, they’ve been heading in that direction and the methodology change made it even more pronounced. As dumb as these rankings are, think they placed ASU about right
LSD+ is ad-free, with DMs, discounts, case briefs & more.