CHAPTER 14, 14-2

CHAPTER 14, 14-4Providers and Claims ProcessHow insurance works

INSURANCE COMPANYInsurerInsuredYOUHow insurance works

INSURANCE COMPANYInsurerInsuredYOUInsurance policyHere you go!How insurance works

INSURANCE COMPANYInsurerInsuredYOU PremiumThanks!How insurance works

INSURANCE COMPANYInsurerInsuredYOU

Uh oh! Something happened. I need your help!File a claimNo problemo! Thats why were here.Ways to get insuranceBuy it directly from the companyGet it through your employerObtain it through a professional organization (ex. VEA)

TYPES OF AGENTSSingle company agentFreelance agentWrites insurance policies for only the company they work forWrites insurance policies for several different companies.

What can you insure?Most common are:Vehicle, property, health, & life insurance.

Business insuranceInsuring personnelHealth insuranceDisability insuranceLife insurance

Business insuranceInsuring propertyCommercial property insuranceVehicle insurance

Business insuranceInsuring operationsBusiness interruption insuranceLiability insurance

The reason businesses and individuals purchase insurance is toMake a profitProvide financial protectionReduce taxesIncrease salesThe reason businesses and individuals purchase insurance is toMake a profitProvide financial protection!!Reduce taxesIncrease salesAnother 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 isHealth insuranceProperty insuranceVehicle insuranceLiability insuranceInsurance that provides coverage for claims by others based on damages suffered as a result of business operations, employees, or products isHealth insuranceProperty insuranceVehicle insuranceLiability insurance!!