Any business has to choose a structure when it forms. There are a number ofoptions for business ownership and structure, including sole proprietorship, partnership, limited liability company (LLC), and corporation. A corporation is unique because it allows a group of people to act as a single ...
Definition:An S-corporation is a C-corporation that has elected to be incorporated under Sub-chapter S. Sub-chapter S allows S-corporations to be treated like a partnership for tax purposes. A key note here is that S-corporation status is simply a tax designation. The company is still orga...
Definition Aninsurance carrieris the company that provides your insurance coverage. It also employs your insurance agent, who handles all of your claims and may help set up your payments on behalf of your carrier. Key Takeaways An insurance carrier is the company that provides your insurance cove...
Insurance refers to a contractual arrangement in which one party, i.e. insurance company or the insurer, agrees to compensate the loss or damage sustained by another party, i.e. the insured, by paying a definite amount, in exchange for an adequate consid
Like the copayment, coinsurance is one of the ways the consumer and the insurance company split the healthcare costs. Unlike copayment, coinsurance is not a fixed amount, but rather it is a fraction of the total costs. And the percentage remains the same regardless of the service. ...
Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurance contract is between two entities first the insurer and the second party is the insured. An insurer is a company selling the insurance; an insured, or ...
Insurance is a legal arrangement among two entities wherein one entity gives financial security to the other party against any unpredictable events...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough ...
What is an asset? An asset is a resource that a company owns for the purpose of either current or expected future economic benefit. Or, in plain language, an asset is something you own or control that you think can be converted into cash in the future or right now. ...
Trust companies are chartered and regulated by the Office of the Comptroller of the Currency (OCC), which is an independent bureau of the Department of the Treasury. According to theFederal Deposit Insurance Corporation (FDIC), "Trust companies which are owned by a bank holding company are also...
Hazards include unfenced swimming pools, cracked sidewalks, and the presence of dead or dying trees on the property. These and other hazards represent risks to an insurance company, which may eventually be required to pay liability claims in the event of accidental drownings or slip and fall inj...