In the United States, the head of the state’s insurance department or regulatory agency.
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The individual who heads the state’s agency for insurance regulation. This person may also be referred to as the Director or Superintendent, depending on the state.

An organization chartered to operate as an insurer. Any corporation primarily engaged in the business of furnishing insurance protection to the public.
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Every Insurer seeking to carry out the business of insurance India is required to obtain a certificate of registration from the IRDA. (a) The applicant need to be a company registered under the provisions of the Indian Companies Act, 1956. Consequently any person intending to carry on insurance business in India would need to set up separate entity in India. (b) The aggregate equity participation of a foreign company (either by itself or through its subsidiary company or its nominees) in the applicant company cannot exceed twenty six percent of the paid up capital of the insurance company. (c) The applicant can carry on any one of the life insurance business, general insurance business or reinsurance business. Separate companies would be needed if the intent were to conduct more than one business. The name of the applicant needs to contain the words “insurance company” or “assurance company.” (d) A minimum paid up equity capital of rupees one billion in case of an applicant which seeks to carry on the business of life insurance or general insurance; two billion in case of a person carrying on exclusively the business of reinsurance. A promoter is not permitted to hold at any time more than 26 per cent of the paid up capital.

State Funds that provide for the payment of unpaid claims of insolvent insurers.

A type of insurance business, grouped according to the reporting categories used when filing an insurer’s statutory reports.

Major rating organization in property and liability insurance that drafts policy forms for personal and commercial lines of insurance and provides rate data on loss costs for property and liability insurance lines.

US: A person or organization covered by an insurance policy, including the “named insured” and any other parties for whom protection is provided under the policy terms.
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A person who is insured under a contract of insurance. Where there is one insured this person may also be referred to as the policyholder.
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Also known as the policyholder or the policy owner. The insured is the person whose potential losses are covered by the insurer through the contract.
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MEDICAL,USA: Individual or organization protected in case of loss under the terms of an insurance policy. Also called enrollee, beneficiary, enrolled patient, member, policyholder , or subscriber .
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Party to an Insurance contract to whom the Insurer agrees to indemnify losses, provide benefits, or render services. Although this term is preferred to use of Policyholder, Policy owner and assured, these other terms may have special meanings defined in particular Insurance policies. Named Insured : Person, corporation, other entity or any member thereof, specifically designated by name as the insured(s) in a Policy, (others may be protected as insured when member of classes are specified in an Insurance Policy even though their names do not appear in the Policy, but they are not, therefore, named Insureds). Named Insured, First Named Insured : An insurance policy may have more than one party named as insured. In such cases, the first named insured attends to policy “housekeeping,” i.e., pays premium, initiates (or receive not of ) cancellation, or calls for interim changes in the contract. This is spelled out in commercial policies in the “common policy conditions.”Insured Contract : A definition which shapes the extent of contractual liability coverage by describing the types of contracts which are insured. On modern liability policies, “insured contract” includes leases of premises, sidetrack agreements, elevator maintenance agreements, easement agreements and other agreements related to the insured’s business.
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UK: The party insured under the policy. Also known as the policyholder.
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The party or parties whose interests are covered in a nonlife insurance contract. The less common term “assured” is sometimes used synonymously.
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US: The person(s) protected under an insurance contract.
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The policyholder – the person(s) protected in case of a loss or claim.

Inland marine insurance designed to provide coverage for loss of or damage to jewelry that is the stock of jewelry retailers, wholesalers, manufacturers, and pawnbrokers.
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A policy especially designed for jewelers, it offers a combination of coverages protecting against risks of physical loss to property at the jeweler’s premises, property in transit, or customers’ property in the insured’s care.

A form of joint property ownership with right of survivorship, i.e., in which the survivors automatically own the share of a deceased co-owner.

A device used to provide insurance to those who cannot obtain insurance in the voluntary market. Certain companies (called carriers) issue policies at one rate level and handle claims, but the ultimate costs are borne by all companies writing insurance in that state.
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An association comprised of insurance companies, which exists to provide a type of insurance to the general public. The individuals who insure under this kind of association pay the usual premiums as well as assessments. The money generated by the assessments funds the association’s operating costs.
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One of several types of “shared market” mechanisms used to make automobile insurance available to persons who are unable to obtain such insurance in the regular market. JUAs also have been created in some states to help alleviate availability problems in the fields of medical malpractice and commercial insurance.

A legal principle that permits the injured party in a tort action to recover the entire amount of compensation due for injuries from any tort-feasor who is able to pay, regardless of the degree of that party’s negligence.