What could be done to help us understand the insurance industry?
826541
Try http://www.fool.com/insurancecenter/basics/basics.htm\n\nI hope it helps! I have used this site in the past, and it does provided basic information in a nice way.
1159499
Some did not get a good education, and have no other skills to fall back on except knowing a bunch of people they used to slap asses with.  A big part of insurance sales is always finding more customers.\n\nDon't get me wrong, I believe in insurance - I used to sell it myself, though I do not come from a football background.  But I was persuasive with good arguments vs. the ol' boy network.
1013210
Insurance is actually my major in school right now, and I will be the first to admit that health insurance is a confusing topic.  However, your agent will be willing to answer any questions for you or you could use your local library or the internet for research.
236191
What kind of insurance are you looking for?
188712
Every state has an Insurance Commissioner who oversees the insurance industry.  Contact them with the details, including photocopies of any written proof you have available.  There may have been a law passed that requires them to add some tax or something.  But it does not sound fair the way you describe it, no.  Was there some change in the circumstances, such as a person who is covered who had an accident or was arrested, which put them in a higher risk category?
378412
Neat little problems of addition, subtraction, multiplication and division took on new dimensions when we began to use these tools for solving problems described in narrative terms. It was quite a shock for some of us to change from a simple A "2+2=4" type of problem to, "How many pieces of fruit do John and Mary have if John has two apples and Jane has two pears?"\n\nWe face a similar, albeit more mentally demanding, dilemma when we familiarize ourselves with the professional standards of practice, conduct, and qualifications. Just how do these fit into real life situations? There is no simple answer. Each situation is unique and there are bound to be differences of opinion on how each situation relates to the neat set of articulated standards. In the end, it is the actuarial profession itself that determines how these standards are to be interpreted in real life situations. As part of this process, the CAS COPE and the ABCD solicit your comments on the applications of professional standards of conduct, actuarial standards of practice, and actuarial qualification standards in specific simulated fact situations. All comments received will be condensed and summarized in future articles on an anonymous basis.\n\nConsider the following scenario:\n\nPerfection Mutual Casualty Insurance Company (PMC) is an established, medium-sized midwestern carrier operating in 15 states. Historically, its primary lines have been personal auto and homeowners. It expanded its market in 1993 to write commercial lines coverage, including workers compensation, on small businesses.\n\nPMC had retained Pat Firmly, FCAS, MAAA to review its reserves since 1985. Firmly has generally found PMC's reserves to be adequate and has issued unqualified statements of actuarial opinion to that effect since such opinions were required.\n\nIn November 1995, while conducting a preliminary review of experience to be used for determining reserves for the 1995 annual statement, Firmly noted that the experience for commercial lines had deteriorated sharply and PMC would probably have to show a reduction in surplus at year end. PMC management argued that Firmly's analysis relied too heavily on industry development factors for long-tail lines and was otherwise unrealistic as far as its projections of IBNR reserves. Firmly also informed management that one of its off-shore reinsurers had recently defaulted on claims payments to another one of his clients and its ability to pay amounts due PMC were in doubt.\n\nShortly thereafter, PMC terminated its contract with Firmly. In February 1996 PMC retained Harry Hyde, FCAS, MAAA to issue an actuarial statement of opinion on its 1995 reserves. After accepting the assignment, Hyde asked Firmly to furnish his workpapers from prior years. Firmly refused and accused Hyde of stealing one of his best accounts by promising a favorable opinion. Hyde then reviewed the combined lines experience furnished by PMC and issued an unqualified actuarial opinion to the effect that PMC's reserves were within an acceptable range. These reserves produced a nominal increase in PMC's surplus.\n\nWhat standards of conduct, practice, and/or qualifications are involved in this scenario? Did Firmly comply with these standards? Did Hyde comply? What did each do right, if anything? What did each do wrong, if anything? What would you have done if you were Firmly or if you were Hyde? If you were either of those actuaries, would you file a complaint with the ABCD? If so, what would you ask the ABCD to do?
882426
Here is a link that those of us working in the industry use to contact one another.\nGood luck
644865
Always rely on good old public sector insurers in India, I say.\n\nThe private guys have tied up with foreign insurers and they are in it only for the money. The foreigners will limit their losses and run, leaving with the mess for the govt to clean up, as they did in 1956, by nationalising the industry.\n\nThe public sector guys, well they have to put public service before profit, being govt. sponsored
405781
maybe, but we need to know more about you and your business.
121940
What is the nature of the risk you are "insuring"? For example, Auto insurance protects against the risk one faces from having an accident.\n\nA type of business that falls into your line of thinking is third party warranties. Think about extended warranties on products. You buy them, typically when you purchase the product. You agree to the terms of the contract and it protects you from the risk of the product breaking, but it is not insurance.\n\nIt depends on the nature of the risk you are offering protection against.
1055236
1) Life insurance for our species\n\n2) Industrial applications of zero-G\n\n3) Scientific knowledge and research'\n\nBest wishes and God bless.
1072351
Have you tried contacting your state insurance department for help?  Any company selling insurance in your state would have to have been registered with the state's insurance department so they should have some sort of record of what happened to the company; such as, out of business (and why), sold (and to whom), became insolvent, etc.
213827
There are so many  different fields you could go into. I am just going to name a few off the top of my head:\n\nManagement\nAccounting\nFinance\nInvestment Banking\nEntrepeneurship\nMarketing\nReal Estate\nInsurance\nAdvertising\nTeaching... etc
69270
Good Question!  I don't know why it has to be so complicated - the insurance industry has done nothing but complicate the medical world for so long now, that I suspect their lobby has had a lot of influence on part d.  They're trying to tell professional physicians how to do business - without knowing anything about you.\n\nIf someone could figure out a way to simplify all of this, individuals like us could afford to get health care and the prescriptions we need without a "conglomorate" who is only in it for the money and doesn't know anything about our situation or condition deciding it for us.\n\nSimplify!  It' the key - too much beauracracy around it all
154144
in these times, everyone is looking for health insurance. if you can offer someone a better deal, they will listen.\n\ni sure would.
792873
You need to draw out the flowchart logic associated with all of these events.  What are all the decisions, branches, actions, inputs and outputs?\n\nFor example, for the third one, here are some of the steps:\n- Someone has to decide that a premium change is warranted.  Perhaps this is Actuarial, Accounting or Finance.\nHave there been a lot of claims?  Has there been a big hike in inflation?  What specifically would trigger this?\n- Someone has to calculate the change in premium for all insured people for all policies.  Is it going to be a certain % across the board?  Is it going to be a flat $ increase?  What about rated policies?\n- The rate increase probably has to go through a vetting and approval process,\n- Draft information must be written and approved for internal notification of the premium change, including the communication methods to be employed.\n- If the communication method is through computer systems, the systems change must be tested and validated in a non-live enviroment.  The testing must be approved.\n- The "cut-over" date to the new premium rates must be announced and the system changed on that date.\n- You probably want some sort of reminder "pop-up" about the new rates so that people don't think they are doing something wrong.  This must be tested with the "real" changes as well.
214688
It would be an insurance broker who represents insurers that specialize in one line of insurance or a particular industry, for example. \nThe brokers can provide a number of other services you may not think of like risk assessment or risk mitigation which can help you get lower premiums.  \nUsually the broker gets paid by the company through commissions.  You may only have to pay a small policy fee in addition to the premiums.