Insurance in the United States refers to the market for risk in the United States of America. Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.
|“||Insurance provides indemnification against loss or liability from specified events and circumstances that may occur or be discovered during a specified period.||”|
—FASB Statement of Financial Accounting Standards No. 113, "Accounting for Reinsurance of Short-Duration and Long-Duration Contracts" December 1992
Other articles related to "state, united, insurance in the united states, insurance, the united states, united states":
... عُمان Salṭanat ʻUmān), is an Arab state in southwest Asia on the southeast coast of the Arabian Peninsula ... It is bordered by the United Arab Emirates (UAE) to the northwest, Saudi Arabia to the west, and Yemen to the southwest ... Over time, as its power declined, the sultanate came under heavy influence from the United Kingdom, though Oman was never formally part of the British Empire, or a British ...
... An insurance policy should not contain provisions that allow one side or the other to unilaterally void the contract in exchange for benefit ... do not, in and of themselves, render a contract something other than insurance ...
... In the 21st century, worldwide anti-war movements occurred ever since the United States declared wars in Afghanistan and Iraq ... Protests opposing the War in Afghanistan occurred in cities in Europe, Asia, and all over the United States ... like Stop the War Coalition, based in the United Kingdom, work on campaigning against the War ...
... Congress declares war on the United Kingdom. 1953 – A United States Air Force C-124 crashes and burns near Tokyo, Japan killing 129. 1965 – Vietnam War The United States uses B-52 bombers to attack National Liberation Front guerrilla fighters in South Vietnam ...
... The Thirtieth United States Congress was a meeting of the legislative branch of the United States federal government, consisting of the United States Senate and the United States House of Representatives ... in the House of Representatives was based on the Sixth Census of the United States in 1840 ...
Famous quotes containing the words united states, states, insurance and/or united:
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