What are insurance scores? 

Insurance scores, which are also referred to as credit-based insurance scores, are ratings based fully or partially on a consumer's credit information. Insurers use credit information with other factors to help underwrite and price policies. These confidential ratings are typically used for personal lines such as homeowners and personal automobile insurance. 

Overview

No-fault auto insurance laws require every driver to file a claim with their own insurance company after an accident, regardless of who was at fault. In states with no-fault laws, all drivers are required to purchase personal injury protection (PIP), as part of their auto insurance policies.

In its strictest form, the term no-fault applies only to state laws that both provide for the payment of no-fault first-party benefits and restrict the right to sue, the so-called “limited tort” option.

Overview

Besides the tragic loss of human life, the economic costs of terrorism are immense: increased security and anti-terrorist expenditures, consumer and investor uncertainty, supply chain and business continuity disruptions, industry retrenchment – all and more can have negative impacts on economic growth.¹

Overview

Reinsurance is insurance for insurance companies. It’s a way of transferring some of the financial risk insurance companies assume in insuring cars, homes and businesses to another insurance company, the reinsurer.

Overview

Motor vehicle crashes are the second leading cause of death among teens, according to the U.S. Centers for Disease Control.  Immaturity and lack of driving experience are the two main factors leading to the high crash rate among young people ages 15-19. Teens’ lack of experience affects their recognition of and response to hazardous situations and results in dangerous practices such as speeding and tailgating.

Overview

Agricultural production is subject to many uncertainties, including natural disasters. Adverse weather, insect infestations and plant diseases can severely reduce the yield or quality of a crop, wiping out a farmer's profits for the whole year in a bad season.

Crop insurance is purchased by agricultural producers, including farmers, ranchers and others to protect against either the loss of their crops due to natural disasters, or the loss of revenue due to declines in the prices of agricultural commodities.

Overview

A growing number of insurers are tapping into markets in developing countries through microinsurance projects, which provide low-cost insurance to individuals generally not covered by traditional insurance or government programs.

The Topic

After Hurricane Andrew in 1992, insurers realized that losses from hurricanes could be much higher than they had previously thought. Hurricane Katrina, in 2005, which cost insurers more than $41 billion at the time, confirmed their fears. After these extraordinary losses, reinsurance companies, insurers that share the cost of claims with primary companies, such as homeowners insurers, said that they could not assume so much risk and that primary companies must reduce their potential losses.

Overview

Accounting is a system of recording, analyzing and reporting an organization’s financial status. In the United States, all corporate accounting and reporting is governed by a common set of standards, known as generally accepted accounting principles, or GAAP, established by the independent Financial Accounting Standards Board (FASB).

The topic

Climate change is a long-term shift in global or regional climate patterns. Often climate change refers specifically to the rise in global temperatures from the mid-20th century to present.