COB is a process used by insurance companies to determine the order in which different insurance policies pay for healthcare services. It ensures that the total amount reimbursed does not exceed the actual cost of the medical expenses, thereby preventing overpayment. Understanding COB is essential fo...
Casey B. Mulligan
What does reserving mean in insurance? Aclaims reserveis money set aside for a claim that has been reported but not settled (RBNS) or incurred but not reported (IBNR). An insurance company will assign a claims reserve to each file that fit those descriptions, reflecting its best estimate of...
There are many times in a person's life when he may need insurance of one kind or another. The most common types of insurance are health, automobile and life. There are specific qualifications that must be met for each one before you can be accepted into a plan, and sometimes the approv...
essential aspect of owning and operating a vehicle. It provides financial protection in the event of an accident or damage to your car, as well as coverage for liability claims. When shopping for car insurance, you may come across terms such as 25/50/25 coverage. But what does this mean?
Intuit helps put more money in consumers’ and small businesses’ pockets, saving them time by eliminating work, and ensuring they have confidence in every financial decision they make. 3x WeMoney Award Winner New Business Toolkit GST Calculator ...
What Does Binding Mean in Insurance?. Companies of all sizes need and benefit from commercial insurance coverage. Commercial insurance covers everything from real and personal property to product liability, protecting business owners from financial ruin
From December, insurers will not be allowed to "discriminate" by gender when considering any type of insurance due to the fact that, in theory, this is deemed to contradict the laws on discrimination. In practice, this means that the cost of life insurance will be affected as we move tow...
Copays are a way for the insurance company and the insured to share the cost of medical expenses. Splitting your medical bills helps the insurance company reduce its expenses while still allowing you to avoid the full burden for your medical bills. ...
The real estate transaction could be held in escrow such that the sale wouldn't be completed until the buyer obtains financing or a mortgage from a bank. Also, the buyer could have difficulty securing the necessaryinsuranceand other policies needed to complete the transaction. If the buyer doesn...