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LSDefine

Simple English definitions for legal terms

insurance company

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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

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yeah yeah
[] c0bra1
9:47
ohhh i see
DefinitelyRobbingBanks
9:48
Carlisle is nice! You are close to Hershey park too.
DefinitelyRobbingBanks
9:48
Which is honestly great, especially if you like chocolate
im like 89% sure im going to howard though but their financial aid wont cone out until june so i have to make a decision
ive been to hershey a few times its really nice
when i was younger we'd always take school trips there lol
[] c0bra1
9:49
howard schollys are conditional, no/
DefinitelyRobbingBanks
9:49
Well good on you for mking aa decision and I hope all works out just how you want it to.
thanks yall! yes they are all conditional but most people end up keeping theirs
the deposit broke my ohio state alumn heart just a little
[] c0bra1
9:50
hope u get all the money 🤞
DefinitelyRobbingBanks
9:51
Well, you will get to watch them wallop Penn State for the next 3 years. Some solace, right?
trueeee so true
[] c0bra1
9:52
every time i see someone with worse stats get waitlisted somewhere i got rejected from i crash out a lil (they have WE)
the rivalry is pretty one sided to be honest
DefinitelyRobbingBanks
9:53
Every now and then the lions can eke one out, but it is rare.
do you know the account cedarstate on instagram for psu for anyone thats tapped in like that
DefinitelyRobbingBanks
9:55
Oh you really are locked in for PSU
do you know him? He always stays at my house for ohio state games
dude is charismatic af
DefinitelyRobbingBanks
9:57
My buddy is a life long Penn State guy, so I have seen the account.
DefinitelyRobbingBanks
9:58
Not horrible to watch for sure.
he didnt have a ticket to the ohio state v penn state game in the shoe and the dude just walked in. he has like an insane aura to him where people just let him do what he wants
[] c0bra1
9:59
i want to be like that
DefinitelyRobbingBanks
9:59
Honestly, you just gotta believe you already have that aura.
10:00
100% he told me its all about condifence and swag, believe you can do it and believe you SHOULD be in spaces and people just sort of fold
DefinitelyRobbingBanks
10:00
EXACTLY. Only thing holding most people back is themselves.
[] c0bra1
10:00
noted
DefinitelyRobbingBanks
10:02
I talk to C-suite of fortune 500 companies, and even those people, are just people. THey just have a blind confidence that they should be even higher up than they are.
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