Party time
Are you insure
yes
Adamson
You know
100
A person licensed to sell insurance.
What is insurance agent
100
The practice of appraising and controlling risk.
What is risk management
100
The fee paid by the insured to the insurer for assuming the risk. Insurance premiums from many insured customers are used to fund accounts reserved for later payment of claims.
What is premium
100
A policy purchased by vehicle owners to mitigate costs associated with getting into an auto accident. Instead of paying out of pocket for auto accidents, people pay annual premiums to an auto insurance company; the company then pays all or most of the costs associated with an auto accident or other vehicle damage.
What is auto insurance
100
A type of insurance coverage that pays for medical and surgical expenses that are incurred by the insured.
What is health insurance
200
A company that sells insurance and is responsible for paying when a covered claim occurs.
What is insurer
200
A policy whereby the insurance company pays the claim, and the insured has no out-of-pocket costs. Most modern liability insurance
What is pay-on-behalf
200
A promise to pay a sum of money in the event that another person fails to fulfill an obligation. Most often seen when loans are cosigned by another party as a way to protect the lending institution.
What is surety
200
in the 13th century, when an Italian wrote a book about the new system of numbers he learned during his travels in Arab lands.
What is Fibonacci
200
an amount to be paid for an insurance policy.
What is a premium
300
A business licensed to sell insurance products for one or more insurers or insurance companies. An agency may employ many people or be a single licensed salesperson.
What is insurance agency
300
In insurance, an occurrence or event, either caused by a person or nature, that triggers a financial loss.
What is peril
300
The amount of a financial loss impact an insured has sustained that an insurance company has written a policy to protect.
What is loss
300
put their data into tables called actuarial tables. These tables usually organize the data using different criteria such as age, gender, location, and many others.
What is an actuaries
300
What class are you in
What is Insurance
400
In the field of insurance, a situation or occurrence that, if it happens, would lead to negative consequences (especially negative financial consequences).
What is risk
400
A broad superset of insurance that covers legal costs and claims against the insured for bodily or property damage, or for other wrongs covered by the insurance, policies typically cover only the negligence of the insured and will not apply to results of willful or intentional acts by the insured.
What is liability insurance
400
A risk that has met certain criteria, making it likely to be insurable through a standard insurance policy. Most insurable risks would result in meaningful, clearly calculable losses, and are shared by a large class of individuals or organizations.
What is insurable risk
400
The discipline that uses math and statistics to assess risk in the insurance and finance industries. Actuarial science includes a number of interrelated subjects, including probability and statistics, finance, mathematics, and economics.
What is actuarial science
400
Favorite teacher and coach at Adamson
What is Coach Spence
500
A form of risk management primarily used to protect against the risk of a loss. It involves the transfer of risk from one entity to another, in exchange for a premium, and can be thought of as paying smaller planned payments to prevent larger, financially catastrophic losses.
What is insurance
500
A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse. It is also compensation for a loss. Under an indemnity policy, the insured is responsible for paying all claims initially, and is later paid by the insurance company for costs.
What is indemnity
500
In insurance, the person who evaluates the risk and exposures of potential clients, decides how much coverage the client should receive, how to price the risk based on rate factors, or whether even to accept the risk and insure them, involves measuring risk exposure and determining the premium that needs to be charged to insure that risk.
What is a underwriter
500
In the field of insurance, the individual who evaluates the likelihood of events and quantifies the contingent outcomes in order to minimize losses, emotional and financial, associated with uncertain undesirable events.
What is actuary
500
A program managed by the Social Security Administration that insures a worker in case of a mishap. This insurance offers income protection to individuals who become disabled for a long period of time, and as a result can no longer work during that time period.
What is disability insurance
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