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CHAPTER 14, 14-4. Providers and Claims Process. How insurance works. INSURANCE COMPANY. YOU. Insurer. Insured. How insurance works. INSURANCE COMPANY. YOU. Here you go!. Insurance policy. Insurer. Insured. How insurance works. INSURANCE COMPANY. YOU. Thanks!. Premium. - PowerPoint PPT Presentation
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CHAPTER 14, 14-4Providers and Claims Process
How insurance worksINSURANCE COMPANY
Insurer Insured
YOU
How insurance worksINSURANCE COMPANY
Insurer Insured
YOU
Insurance policy
Here you go!
How insurance worksINSURANCE COMPANY
Insurer Insured
YOU
Premium
Thanks!
How insurance worksINSURANCE COMPANY
Insurer Insured
YOUUh oh! Something happened. I need your help!
File a claim
No problemo! That’s why we’re here.
Ways to get insuranceBuy it directly from the companyGet it through your employerObtain it through a professional
organization (ex. VEA)
TYPES OF AGENTS
Single company agent Freelance agent
Writes insurance policies for only the company they work for
Writes insurance policies for several different companies.
What can you insure?Most common are:Vehicle, property, health, & life
insurance.
BUSINESS INSURANCEInsuring personnel
Health insuranceDisability insuranceLife insurance
BUSINESS INSURANCEInsuring property
Commercial property insuranceVehicle insurance
BUSINESS INSURANCEInsuring operations
Business interruption insuranceLiability insurance
THE REASON BUSINESSES AND INDIVIDUALS PURCHASE INSURANCE IS TO
a. Make a profitb. Provide financial protectionc. Reduce taxesd. Increase sales
THE REASON BUSINESSES AND INDIVIDUALS PURCHASE INSURANCE IS TO
a. Make a profitb. Provide financial protection!!c. Reduce taxesd. Increase sales
ANOTHER TERM FOR AN INSURANCE COMPANY IS THE POLICYHOLDER.
True or false?
ANOTHER TERM FOR AN INSURANCE COMPANY IS THE POLICYHOLDER.
True or false!!
INSURANCE THAT PROVIDES COVERAGE FOR CLAIMS BY OTHERS BASED ON DAMAGES SUFFERED AS A RESULT OF BUSINESS OPERATIONS, EMPLOYEES, OR PRODUCTS IS
a. Health insuranceb. Property insurancec. Vehicle insuranced. Liability insurance
INSURANCE THAT PROVIDES COVERAGE FOR CLAIMS BY OTHERS BASED ON DAMAGES SUFFERED AS A RESULT OF BUSINESS OPERATIONS, EMPLOYEES, OR PRODUCTS IS
a. Health insuranceb. Property insurancec. Vehicle insuranced. Liability insurance!!
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