Insurance (1)
A policy that is standardized to have the same limitations and exceptions, regardless of which insurer issues it.
Standard Insurance
A large company that provides insurance and assumes the risk covered in the policies.
Insurance Carrier
Mechanisms to make sure corporate governance will be effective
Checks and Balances
The process of keeping financial records.
Accounting
Manage insurance claims from patients in doctors' offices and insurance companies.
Claims Processor
Investigate insurance claims by interviewing the claimant and witnesses, consulting police and hospital records, and inspecting property damage.
Claims Adjuster
Maintaining open and honest communications
Transparency
An accounting method in which income and expenditures are recorded at the time the money changes hands.
Cash Accounting Method
A policy provision that eliminates coverage for some type of risk.
Exclusion
Types of coverage that help protect the stuff you own, your home or car, etc.
Property/Casualty
The manner in which boards or their like direct a corporation
Corporate Governance
The methods and procedures used in handling the business's financial information.
Accounting System
Insurance that is purchased by an insurance company, in which some part of its own insurance liabilities is passed on to another insurance company
Reinsurance
That portion of the amount insured that exceeds the amount retained by an entity for its own account.
Excess Insurance
Groups or individuals with an interest in a business, and can be affected by decisions of an organization.
Stakeholder
A method of accounting that records transactions at the time they occur even if no money changes hands at the time.
Accrual Accounting Method
An alternative to self-insurance in which a parent group or groups create a licenses insurance company to provide coverage for itself.
Captive Insurance Company
A strategy that involves reducing or controlling the impact of a risk if it occurs
Risk Mitigation
An accounting method that aims to capture a company's costs of production by assessing the input costs of each step of production.
Cost Accounting