by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is a Qualified Actuary?Actuaries are statisticians who calculate the likelihood of specified occurrences. More specifically, actuaries analyze all available information to identify the risk of a particular occurrence and the relating consequences. They primarily...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is a Cash Surrender Value?Cash surrender value is a term that applies to an annuity policy. It is the value of the contract if cashed in at a given point in time. The cash value of annuity or insurance policy is determined by the amount of money the policyholder...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is the National Association of Insurance Commissioners?The National Association of Insurance Commissioners (NAIC) is an organization created and governed by the chief insurance regulators from across the 50 states, the District of Columbia and five U.S....
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is a Health Maintenance Organization?A health maintenance organization (HMO) is a public or private body of medical insurance providers that offers health insurance coverage in lieu of a fee. The insurance fee can be collected on a monthly or annual basis. The...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is an Earned Premium (Insurance)?Earned premium refers to a portion of the amount paid to the insurer as a premium that the insurer has earned at a given point in time. Restated, an earned premium is the amount of money or part of insurance premium that was paid...
by TheBusinessProfessor | Feb 23, 2025 | Insurance & Risk Management
What is Enterprise Risk Management?Enterprise risk management (ERM) is a plan-based, enterprise approach to identifying and mitigating risks. ERM systems are tailored to a specific industry. The commonality, however, is that it involves identifying and developing a...
