Rmin 4000 exam 2 - Study guides, Class notes & Summaries

group insurance marketing - ️️Methods to sell individual insurance policies to: ◦Employer groups ◦Labor unions ◦Trade associations -Products are sold through group representatives, employees who receive a salary and incentive payments based on sales. -Employees typically pay for insurance by payroll deduction. Distribution-Independent Agency - ️️-Usually represents several unrelated insurers. ---Agents are paid a commission which varies by the line of insurance. -The agenc...

RMIN 4000 Exam 2 - UGA Daniel Brown Questions with verified correct answers.

RMIN 4000 Exam 2 Edmunds|84 Questions with Verified Solutions

RMIN 4000 Exam 2|108 Q’s and A’s |100% Correct

Major Types of Private Insurers - ANSWER-Stock Insurers Mutual Insurers Lloyds of London Stock Insurer - ANSWER--A corporation owned by stockholders. -Objective is to earn profits for the stockholders by increasing stock and paying dividends. (Progressive, Allstate, Metlife, etc.) Mutual Insurer - ANSWER--a corporation owned by policyholders. -profits are distributed to policyholders by dividends or rate reductions. (statefarm, nationwide, liberty mutual) types of mutual insurer...

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major types of private insurers - ANSWER-Stock, Mutual, and Lloyd's of London stock insurers - ANSWER-corporation owned by stockholders. objective is to earn profit for stockholders by increasing the value of the stock and paying dividends Mutual insurers - ANSWER-a corporation owned by policyholders. profits are distributed to policyholders by dividends or rate reductions types of mutual insurers - ANSWER-advance premium mutual, assessment mutual, and fraternal insurer assessment ...

Major Types of Private Insurers - ANSWER-Stock Insurers Mutual Insurers Lloyds of London Stock Insurer - ANSWER--A corporation owned by stockholders. -Objective is to earn profits for the stockholders by increasing stock and paying dividends. (Progressive, Allstate, Metlife, etc.) Mutual Insurer - ANSWER--a corporation owned by policyholders. -profits are distributed to policyholders by dividends or rate reductions. (statefarm, nationwide, liberty mutual) types of mutual insurer...

RMIN 4000 Exam 2 Questions & Answers

Lloyd's of London - ️️The world's leading insurance market that provides services and physical facilities for its members to write specialized lines of insurance. They underwrite insurance for syndicates. group insurance marketing - ️️Products are sold through group representatives employees who receive a salary and incentive payments based on sales (can pay for insurance by payroll deduction) importance of large brokerage firms - ️️very important for commercial P&C, have...