As part of our ongoing insurance how-to we continue to explore the terminology and practices used in the Insurance world. Today we will be looking at The Average Condition and will explore ; What is an Average Condition ? Example of Average applying to a Claim Special Condition of Average – 75% Why do Insurers…
As part of our ongoing insurance how-to series we continue to explore the terminology and practices used in the Insurance world. Today we will be looking at Operating Ratio and will explore: What is an Operating Ratio? How do you calculate an Operating Ratio? How can an Operating Ratio help me with my business? What…
This week we’ll be expanding our glossary of insurance terms as we delve into Binding Authorities. Article contents: What is a Binding Authority? How does an Insurer control a binding Authority? How does the Insurer get their premium? Who handles the claims? What is a Binding Authority? A Binding Authority is an agreement whereby an…
