Home Business, Small Business, Global Business—Here’s How to Choose the Right Coverage for Your Business The types and amount of insurance that you need for your small business are based on several factors. What type of business are you in? Where is it located? Do you have employees? You can evaluate your insurance needs—and start …
Tag: general insurance
Jan 11
Credit and Insurance Scores
Insurance scores and credit scores differ. Credit scores predict credit delinquency while insurance scores predict insurance losses. Both are calculated from information in a credit report, such as outstanding debt, bankruptcies, length of credit history, collections, new applications for credit, number of credit accounts in use, and timeliness of debt repayment. Insurers or scoring agencies …
Jan 12
How are insurance rates set?
How does insurance work? People buy insurance coverage to protect themselves from potential future loss. In exchange for payment of a known fee—the insurance premium—the policyholder is able to transfer his or her potential risk to an insurance company, which agrees to pay in the event of such a loss. Insurance works because it allows …