Commercial Lines
The name of Moody's Commercial Lines Agency Management System.
What is AMS360?
A term for the money an insurance carrier pays us for placing a policy with them.
What is commission?
These are the two main types of funding arrangements for health plans.
What are fully insured and self funded (can also accept level funded)?
This is the year Moody Insurance was founded.
What is 1972?
These are the three C's of Surety
What are Character, Capacity, and Capital
This document provides a snapshot of an Insured's insurance program for a third party.
What is a Certificate?
A term indicating we collect premium, keep our revenue and forward the net amount to the insurance carrier.
What is Agency Bill?
Health insurance that an employer, union or other organization offers to its members while they are still working.
What is a group health plan?
The entity or person purchasing insurance.
Who is the Insured?
This is the type of bond which guarantees a contractor will enter into a contract.
What is a bid bond?
This type of insurance policy pays out covered claims for workplace injuries.
What is Workers Compensation?
A method of premium payment which allows the insured to spread their payments over time with a fee.
What is Premium Financing?
This provides certain employees with up to 12 weeks of unpaid, job-protected leave per year.
What is FMLA / Family and Medical Leave Act of 1993.
This is the only state with a one syllable name.
What is Maine?
This is a type of bond which guarantees the completion of a contract.
What is a Performance Bond?
This type of insurance policy provides additional limits of coverage for a covered claim if the primary policy limits are exhausted.
What is an Umbrella Policy?
The document used to indicate to your employer how much tax to withhold from you.
What is a W4?
A percentage split with the insurance company after the deductible has been met.
What is co-insurance?
The person at the insurance company who evaluates the risk and provides quotes.
Who is an underwriter?
This type of bond ensures that subcontractors and suppliers will be paid.
What is a Payment (Labor and Material) Bond?
This line of business provides bodily injury & property damage coverage to third parties.
What is General Liability?
This is where the net profit shows up on a company's balance sheet.
What is retained earnings?
Copays, deductibles, coinsurance and prescriptions all contribute toward this part of a benefits policy.
What is the out of pocket maximum?
The Gettysburg Address was delivered by this president.
Who is Abraham Lincoln?
This is the calculation for working capital.
What is Current Assets minus Current Liabilities?