Loss Ratio vs Combined Ratio

June 30, 2024 No Comments

A: The loss ratio and combined ratio are two ratios used to measure the profitability of an insurance company. The loss ratio measures the total incurred losses in relation to the total collected insurance premiums, while the combined ratio measures the incurred losses and expenses

Moral Hazard vs Adverse Selection

June 30, 2024 No Comments

A: Moral hazard and adverse selection are two terms used in economics, risk management and insurance to describe situations where one party is at a disadvantage. Adverse selection occurs when there’s a lack of symmetric information prior to a deal between a buyer and a

Operation management in healthcare

June 30, 2024 No Comments

A: Operations management refers to a focus on the practices designed to monitor and manage all of the processes within the production and the distribution of products and services. The largest activities that operations management focuses on are product creation and service development, and the

How do I choose which insurance company to use?

June 30, 2024 No Comments

A: Picking an insurance company to use is not an easy task, nor is it an exciting one, but you will be glad you took the time to find the right one for you if you ever need to file a claim. When choosing your

Shipping Freight: CFR Versus CIF

June 30, 2024 No Comments

A: The difference between cost and freight (CFR) and cost, insurance and freight (CIF) is essentially the requirement under CIF shipping terms for the shipper to provide a minimum amount of marine insurance for goods shipped. The International Chamber of Commerce (ICC) established a system

How does a decline in housing prices affect the banking sector?

June 30, 2024 No Comments

A: When housing prices fall, consumers are more likely to default on their home loans, causing banks to lose money. Also, home equity dries up, meaning that consumers have fewer funds available for spending, saving, investing or paying down their debts. Sometimes, banks are even

Suppose my garage collapsed on my car. Are damages covered by my home insurance or auto insurance?

June 30, 2024 No Comments

A: Generally, damage to an automobile will be covered by comprehensive car insurance, which is in addition to collision coverage that applies to a car or truck while it is in use. In addition to accident insurance, comprehensive insurance will generally cover damage to an

Does dental insurance cover teeth whitening?

June 30, 2024 No Comments

A: Over 50% of Americans use dental insurance, but it does not tend to cover any sort of cosmetic procedures, including teeth whitening procedures. What Does Dental Insurance Typically Cover? Dental insurance has a typical yearly maximum amounting approximately between $1,000 to $3,000 for covered

Does FSA cover massages?

June 30, 2024 No Comments

A: Flexible spending accounts (FSAs) cover massages for certain medical treatments. These treatments must be approved and prescribed by a physician. Medical Conditions The Internal Revenue Service (IRS) has ruled that massage therapy for the sole purpose of tension and stress relief does not qualify

Does homeowners insurance cover broken pipes?

June 30, 2024 No Comments

A: An all-perils homeowners insurance policy does not usually provide coverage for an actual broken pipe. However, the water damage that the broken pipe causes would be covered under most circumstances. Broken Pipes Most insurance companies would consider a home’s plumbing to be under normal

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