Unlike most types of insurance, surplus lines insurance can be sold by insurers that are not licensed in the buyer’s state. However, the surplus lines insurer must have a license in the state where it is based, and the brokers who sell surplus lines insurance must be licensed in their ow...
Due to the unique needs of our clients, we write policies with Surplus Lines / Non-Admitted Carriers. The excess and surplus lines, or non-admitted market is comprised of property and casualty companies that provide insurance that is unavailable to businesses in the standard or admitted market ...
An insurance company does not report all its earnings as income; a significant portion is recorded as liabilities on its balance sheet. This is because these earnings are allocated for future claims. The earnings derived from premiums paid that are intended for claims are referred to as unearned...
A Single Premium Immediate Annuity (sometimes referred to as an "SPIA") may be the right annuity for you if you are looking for payments that begin right away and continue for the rest of your life or for a specified period of time. The annuity is purchased from an insurance company ...
A captive insurance company is a form of corporateself-insurance. While there are financial benefits to creating a separate entity to provide insurance services, parent companies must consider the associated administrative and overhead costs, such as additional personnel and startup costs. There are ...
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Surplus line insurance covers properties with unique risks that traditional carriers "can't or won't insure," according to theTexas Department of Insurance. Typically a state will allow a surplus line company, like Lloyd's of London or Berkshire Hathaway, to operate in its borders while unlicens...
However, the biggest disadvantage of a GbR is that there is no limitation of liability on the business's assets: partners are always personally liable with their own private assets. Furthermore, the fact that a GbR's annual surpluses are transferred to the partners and taxed via their respe...
Dealerships may also press you toopt for added features, gap insurance or anextended warranty. These are optional, so be firm if you don’t want them. Once you’ve negotiated the purchase price of the vehicle with the dealer, the next step is to formally apply for financing. ...
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