by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is an Accelerated Benefit?Accelerated benefits are terms of specific life insurance policies that permit a policyholder to get benefits before they die. Typically, accelerated benefits are given for people with medical disabilities, for those who need a permanent...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is Operational Risk?Operational risk is the risk a company faces as a result of their operations (the functional aspects of delivering their value proposition). Think of the risk associated with company processes, systems, equipment, or employees. It can be...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is Lloyd’s Of London?Lloyds of London is a market for insurance and reinsurance in London, United Kingdom. Its a world leader in insurance markets and provides specialist insurance assistance to firms in more than 200 territories and countries.What Does...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is a Joint Life with Last Survivor Annuity?Joint life with Last Survivor annuity is an insurance plan that allows the beneficiaries (annuitants) to receive contractual payments. If one beneficiary passes away, the second covered beneficiary receives payments...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is Key Person Insurance?This is a life insurance policy bought by an organization on the life of one of its key executives. The organization pays the policy premiums and is the sole beneficiary in case of the death of the executive. It usually referred to as key...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is the Insurance Regulatory Information System?The Insurance Regulatory Information System (IRIS) is a system containing databases and tools to analyze the financial statements of different insurance companies. It is primarily used by the National Association of...
