Exam Code: Property-and-Casualty Practice test 2022 by Killexams.com team
Property-and-Casualty Property and Casualty Insurance

TOPIC: Overview of Insurance Operations
1. The candidate will understand how insurance companies are organized, their goals, how success is measured, and their functions.
Learning Outcomes
The candidate will be able to:
a) Explain how insurers have organized to provide property-casualty insurance
b) Describe the major goals of an insurer
c) Describe the internal and external constraints that impede insurers from achieving their major goals
d) Describe the measurements used to evaluate how successful an insurer is at meeting its established goals
e) Describe the core and supporting functions performed by insurers

TOPIC: Insurance Regulation
2. The candidate will understand the reasons for and the types of regulation.
Learning Outcomes
The candidate will be able to:
a) Describe the effect each of the following acts and legal decisions have had on insurance regulation: Paul v. Virginia, Sherman Antitrust Act, South-Eastern Underwriters Association, McCarran-Ferguson Act, Insurance Services Office and the Attorneys General Lawsuit, and Gramm-Leach-Bliley Act
b) Explain how insurance regulation protects consumers, contributes to maintaining insurer solvency, and assists in preventing destructive competition
c) Identify the regulatory activities of state insurance departments and the duties typically performed by state insurance commissioners
d) Describe the arguments for and against federal regulation of insurance
e) Describe the licensing requirements for insurers and insurance personnel
f) Describe the methods that regulators use to maintain the solvency of insurers and to manage insolvencies, and the reasons why insurers become insolvent
g) Describe the goals of insurance rate regulation, the major types of state rating laws, and the reasons supporting and opposing rate regulation
h) Explain how the contract language contained in insurance policies is regulated
i) Explain how the market conduct areas in insurance are regulated and how regulatory activities protect consumers
j) Explain how organizations that act as unofficial regulators affect insurance activities

TOPIC: Insurance Marketing and Distribution
3. The candidate will understand the insurance marketplace and marketing and distribution systems.
Learning Outcomes
The candidate will be able to:
a) Describe the following attributes of the competitive property-casualty insurance marketplace: distinguishing characteristics of insurance customers, insurer marketing differentiations, and unique factors in the insurance marketplace
b) Explain how typical insurer marketing activities are performed and why they are performed
c) Describe the main types of insurance distribution systems and channels, including the principal characteristics that distinguish one distribution system from another
d) Describe the functions performed by insurance producers
e) Describe the key factors an insurer should evaluate during the distribution-system and distribution-channel selection process

TOPIC: The Underwriting Function
4. The candidate will understand the purpose, role, and function of underwriting.
Learning Outcomes
The candidate will be able to:
a) Describe the purpose of underwriting
b) Describe the underwriting activities typically performed by line and staff underwriters
c) Describe the importance of compliance with underwriting authority in individual account selection
d) Describe the constraining factors considered in the establishment of underwriting policy
e) Describe the purposes that underwriting guidelines and underwriting audits serve
f) Describe the steps in the underwriting process
g) Explain how an insurers underwriting results are measured and how financial measures can be distorted

TOPIC: Underwriting Property and Liability Insurance
5. The candidate will understand the different policy considerations in underwriting property and liability insurance policies. Learning Outcomes
The candidate will be able to:
a) Describe in detail each of the COPE factors used to evaluate property loss exposures
b) Explain how insurable interest, policy provisions for valuing losses, and insurance to value affect a loss payment amount under property insurance
c) Explain how underwriters use policy amount, amount subject, normal loss expectancy (NLE), probable maximum loss (PML), and maximum foreseeable loss (MFL) to measure potential loss severity
d) Describe the underwriting considerations for business income and extra expense coverage
e) Describe the underwriting considerations and risk control techniques associated with employee dishonesty and crimes committed by others
f) Describe the loss exposures and the underwriting considerations for commercial general liability insurance
g) Describe the underwriting considerations for personal and commercial auto insurance
h) Describe the key underwriting considerations relevant to the evaluation of submissions for workers compensation insurance
i) Describe the underwriting considerations for umbrella and excess liability insurance

TOPIC: Risk Control and Premium Auditing
6. The candidate will understand the purpose and function of risk control and premium auditing.
Learning Outcomes
The candidate will be able to:
a) Describe the goals of insurer risk control activities
b) Describe the risk control services provided by insurers
c) Explain how risk control cooperates with other insurer functions
d) Explain why premium audits are conducted
e) Describe the premium auditing process
f) Explain why premium audits must be accurate
g) Explain how premium auditing contributes to other insurer functions

TOPIC: The Claim Function
7. The candidate will understand the claim function and related elements.
Learning Outcomes
The candidate will be able to:
a) Identify goals of the claim function, the users of claim information, and the parties with whom claim personnel interact
b) Describe the claim department structure, types and functions of claim personnel, and claim personnel performance measures
c) Describe the key activities in the claim handling process: Acknowledging and assigning the claim, Identifying the policy and setting reserves, Contracting the insured or the insureds representative, Investigating the claim, Documenting the claim, Determining the cause of loss, liability, and the loss amount, and Concluding the claim
d) Explain how the law of bad faith relates to an insurers duty of good faith and fair dealing and how the legal environment affects the law of bad faith
e) Describe the elements of good-faith claim handling

TOPIC: Adjusting Property and Liability Claims
8. The candidate will understand the claim handling process for property and liability claims.
Learning Outcomes
The candidate will be able to:
a) Explain how and why the activities in the framework for handling property claims are accomplished
b) Describe the challenges of handling various types of property claims: Residential dwelling, Residential personal property, Commercial structure, Business income, Merchandise, Transportation and bailment, and Catastrophe
c) Explain how and why the activities in the framework for handling a liability claim are accomplished
d) Describe the challenges of handling various types of liability claims: Auto bodily injury liability, Auto property damage, Premises liability, Operations liability, Products liability, Workers compensation, and Professional liability
e) Given a claim, determine coverage for a loss using the framework for coverage analysis and the activities in the claim handling process

TOPIC: Reinsurance
9. The candidate will understand the function and types of reinsurance and its application. Learning Outcomes
The candidate will be able to:
a) Describe reinsurance and its principal functions
b) Describe the three sources of reinsurance
c) Describe treaty reinsurance and facultative reinsurance
d) Describe the types of pro rata reinsurance and excess of loss reinsurance and their uses
e) Describe finite risk reinsurance and other methods that rely on capital markets as alternatives to traditional and non-traditional reinsurance
f) Describe the factors that should be considered in the design of a reinsurance program
g) Given a case, identify the reinsurance needs of an insurer and recommend an appropriate reinsurance program to address those needs
h) Explain how reinsurance is regulated

TOPIC: Personal Auto Policy
10. The candidate will understand the role of automobile insurance in society and the contents of the Personal Auto Policy. Learning Outcomes
The candidate will be able to:
a) Evaluate various laws and systems regarding approaches to compensating automobile accident victims: Tort liability system, Financial responsibility laws, Compulsory insurance laws, Uninsured motorists coverage, Underinsured motorists coverage, and No-fault insurance
b) Describe no-fault automobile laws in terms of their types and required benefits
c) Explain how high-risk drivers may obtain auto insurance
d) Describe automobile insurance rate regulation in terms of rating factors, matching price to exposure, competition, and other regulatory issues
e) Summarize the sections of the Personal Auto Policy
f) Identify the types of information typically contained on the declarations page of a personal auto policy
g) For each of Part A – Liability Coverage, Part B – Medical Payments Coverage, Part C – Uninsured Motorists Coverage, and Part D – Coverage for Damage to Your Auto: Summarize the provisions; given a case describing a claim, determine if that part of the coverage applies and, if so, the amount the insurer would pay for the claim
h) Describe underinsured motorist insurance in terms of its purpose and the ways in which it can vary by state
i) Describe the insureds duties following a covered auto accident or loss as shown in Part E
j) Summarize each of the general provisions in Part F
k) Describe the Personal Auto Policy endorsements that are used to handle common auto loss exposures
l) Given a case describing a claim, determine whether the Personal Auto Policy would cover the claim and, if so, the amount the insurer would pay for the claim

TOPIC: Homeowners Coverage
11. The candidate will understand the contents of the ISO Homeowners Program and describe some specialty plans. Learning Outcomes
The candidate will be able to:
a) Describe how individuals and families can use the ISO 2011 Homeowners insurance program to address their personal risk management needs
b) Summarize the structure of the Homeowners Policy (HO-3), key changes in the ISO 2011 program revision, and factors important to rating homeowners insurance
c) Determine whether the 2011 HO-3 policy provisions in Section I – Property Coverages provide coverage for a given loss or loss exposure: Coverage A – Dwelling, Coverage B – Other Structures, Coverage C – Personal Property, Coverage D – Loss of Use, and additional coverages
d) Summarize the 2011 HO-3 policy provisions concerning Perils Insured Against and Exclusions
e) Summarize each of the 2011 HO-3 policy provisions in Section I – Conditions
f) Given a scenario describing a homeowners property claim, determine whether the 2011 HO-3 Policy Section I – Property Coverages would cover the claim and, if so, the amount the insurer would pay for the claim
g) Determine whether the 2011 HO-3 policy provisions in Section II – Liability Coverage provide coverage for a given loss or loss exposure: Coverage E – Personal Liability, Coverage F – Medical Payments to Others, and additional coverages
h) Determine whether one or more exclusions preclude the coverage provided by Section II of the 2011 HO-3 policy provisions in Section II – Exclusions
i) Summarize the 2011 HO-3 policy provisions concerning Conditions applicable to Section II and Conditions applicable to Sections I and II
j) Given a case describing a homeowners liability claim, determine whether the 2011 HO-3 policy Section II – Liability Coverage would cover the claim, and if so, the amount the insurer would pay for the claim
k) Compare the coverage provided by each of the following 2011 Homeowners policies to the coverage provided by the 2011 HO-3 policy: HO-2 Broad Form, HO-5 Comprehensive Form, HO-4 Contents Broad Form, HO-6 Unit-Owners Form, and HO-8 Modified Coverage Form
l) Summarize the coverages provided by the various 2011 ISO Homeowners policy endorsements
m) Given a case describing a homeowners claim, determine whether a 2011 HO-3 Policy that may include one or more endorsements would cover the claim, and, if so, the amount the insurer would pay for the claim
n) Describe the operation of the National Flood Insurance Program and the coverage it provides
o) Describe the operation of FAIR plans and beachfront and windstorm plans and the coverage they provide

TOPIC: Commercial Property Insurance
12. The candidate will understand the nature of Commercial Property Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial property insurance in terms of the major categories of loss exposures that can be covered and the components of a commercial property coverage part
b) Determine whether a described item of property qualifies as Covered Property under one or more of these categories in the Building and Personal Property Coverage Form: Building, Your Business Personal Property, and Personal Property of Others
c) Determine which of the additional coverages and coverage extensions of the Building and Personal Property Coverage Form apply to a described loss
d) Determine whether the cause of a described loss is a covered cause of loss under the Causes of Loss – Basic Form or the Causes of Loss – Broad Form
e) Determine whether the cause of a described loss is a covered cause of loss under the Causes of Loss – Special Form
f) Apply the Limits of Insurance and Deductible provisions of the Building and Personal Property Coverage Form to a described loss
g) Explain how each of the Loss Conditions and Additional Conditions affects coverage under the Building and Personal Property Coverage Form
h) Explain how each of the following optional coverages described in the BPP modifies the basic coverage of the BPP: Agreed Value, Inflation Guard, Replacement Cost, and Extension of Replacement Cost to Personal Property of Others
i) Summarize each of the Commercial Property Conditions
j) Explain how each of the conditions contained in the Common Policy Conditions affects coverage under a commercial property coverage part
k) Explain how each of these documents modifies the Building and Personal Property Coverage Form: Ordinance or Law Coverage endorsement, Spoilage Coverage endorsement, Flood Coverage endorsement, Earthquake and Volcanic Eruption Coverage endorsement, Peak Season Limit of Insurance endorsement, and Value Reporting Form
l) Identify the factors that affect commercial property insurance premiums
m) Given a case, determine whether, and for what amount, a described loss would be covered by a commercial property coverage part that includes the Building and Personal Property Coverage Form and any of the three causes of loss forms

TOPIC: Commercial General Liability Insurance
13. The candidate will understand the nature of Commercial General Liability Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial general liability insurance in terms of the types of losses that can be covered by general liability insurance and the components of a commercial general liability coverage part
b) Determine whether a described claim meets the conditions imposed by the Coverage A insuring agreement of the Commercial General Liability Coverage Form (occurrence version)
c) Determine whether any of the exclusions applicable to Coverage A of the Commercial General Liability Coverage Form eliminate coverage for a described claim
d) Determine whether a described claim meets the conditions imposed by the Coverage B insuring agreement of the Commercial General Liability Coverage Form and whether any of the Coverage B exclusions eliminate coverage for the claim
e) Determine whether a described claim meets the conditions imposed by the Coverage C insuring agreement of the Commercial General Liability Coverage Form and whether any of the Coverage C exclusions eliminate coverage for the claim
f) Summarize the supplementary payments of the Commercial General Liability Coverage Form
g) Determine whether a described person or organization is an insured under the Commercial General Liability Coverage Form
h) Explain how the following limits of insurance in the CGL Coverage Form are applied: Each occurrence limit, Personal and advertising injury limit, Damage to premises rented to you limit, Medical expense limit, General aggregate limit, and Productscompleted operations aggregate limit
i) Apply the Commercial General Liability Conditions to claims or other interactions between the insurer and the insured
j) Explain how the premium for CGL coverage is determined
k) Given a case, determine whether, and for what amount, the Commercial General Liability Coverage Form (occurrence version) covers a described claim

TOPIC: Commercial Auto Insurance
14. The candidate will understand the nature of Commercial Auto Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial auto insurance in terms of the loss exposures that can be covered and the components of a commercial auto coverage part
b) Select the symbols needed to provide a described organization with appropriate commercial auto coverage(s) under the Business Auto Coverage Form
c) Summarize the provisions contained in Section II – Covered Autos Liability Coverage of the Business Auto Coverage Form
d) Summarize the provisions contained in Section III – Physical Damage of the Business Auto Coverage Form
e) Describe the conditions contained in the business Auto Coverage form
f) Describe the following coverages that may added by endorsement to the Business Auto Coverage Form: medical payments, personal injury protection and added personal injury protection, and uninsured and underinsured motorists
g) Explain how private passenger vehicles and trucks, tractors, and trailers are rated for commercial auto coverage
h) Given a case, determine whether, and for what amount, the Business Auto Coverage Form covers a described claim

TOPIC: Workers Compensation and Employers
Liability Insurance
15. The candidate will understand workers compensation and employers liability coverages.
Learning Outcomes
The candidate will be able to:
a) Describe workers compensation statutes in terms of: Basic purpose, Benefits provided, and Persons and employments covered
b) Describe workers compensation statutes in terms of: Extraterritorial provisions, Federal jurisdiction, and Methods for meeting employers obligations
c) Summarize these sections of the Workers Compensation and Employers Liability Insurance Policy: Information Page, General Section, and Part One – Workers Compensation Insurance
d) Explain why employers liability insurance is needed and how the Workers Compensation and Employers Liability Insurance Policy addresses this need
e) Describe the purpose and operation of Part Three – Other States Insurance in the Workers Compensation and Employers Liability Insurance Policy
f) Describe the need for and the coverage provided by the Voluntary Compensation and Employers Liability Coverage Endorsement and the Longshore and Harbor Workers Compensation Act Coverage Endorsement
g) Explain how premium bases, classifications, and premium adjustments affect the rating of workers compensation insurance
h) Given a case, determine whether the Workers Compensation and Employers Liability Insurance Policy covers a described injury or illness and, if so, what types of benefits or what amount of damages is covered

TOPIC: Specialty Coverages
16. The candidate will understand various specialty coverages.
Learning Outcomes
The candidate will be able to:
a) Describe commercial excess liability insurance and commercial umbrella liability insurance in terms of: The three basic types of commercial excess liability insurance and The provisions commonly found in commercial umbrella liability policies that distinguish them from other types of commercial liability policies
b) Describe professional liability insurance and management liability insurance in terms of: How they differ from each other, How they differ from commercial general liability policies, and The common types of professional and management liability policies
c) Describe the purpose and characteristics of each of these types of environmental insurance policies: Site-specific environmental impairment liability (EIL) policies, Underground storage tank compliance policies, Remediation stop-loss policies, Contractors pollution liability policies, and Environmental professional errors and omissions liability policies
d) Describe aircraft insurance in terms of: The purpose-of-use categories that insurers use to classify aircraft and The coverages that can be included in an aircraft policy
e) Describe the types of losses that can be covered by each of the insuring agreements generally available in cyber risk insurance policies
f) Explain how an organization domiciled in the United States can insure foreign loss exposures that would not be covered under standard property and liability insurance policies
g) Summarize the purpose and provisions of the terrorism endorsements developed by Insurance Services Office, Inc., and the National Council on Compensation Insurance, Inc.
h) Summarize the guarantee provided by the particular types of surety bonds within the following bond classifications: Contract bonds, License and permit bonds, Public official bonds, Court bonds, and Miscellaneous bonds

Property and Casualty Insurance
P-and-C Insurance test format
Killexams : P-and-C Insurance test format - BingNews https://killexams.com/pass4sure/exam-detail/Property-and-Casualty Search results Killexams : P-and-C Insurance test format - BingNews https://killexams.com/pass4sure/exam-detail/Property-and-Casualty https://killexams.com/exam_list/P-and-C Killexams : Why are life insurance medical exams required?
Senior adult man at medical appointment
Many life insurance companies will want the results of a medical test before approving your application. Getty Images

Life insurance provides a financial safety net for you and your loved ones in the event of your death. By making a payment to the insurance company each month, depending on your billing schedule, you can ensure that your beneficiaries will receive compensation. 

While putting a life insurance policy into place (and maintaining it) is relatively simple, there are some important steps you will need to take to finalize the plan. For example, a medical examination may be required. While not always mandatory, many insurance companies will want to have the results of an test reviewed before signing off on your plan. 

If you're currently in the market for life insurance, or just want to increase the coverage you already have, now is a good time to do so. You can start by getting a quote today.

It's important to understand how to prepare properly to obtain the life insurance policy you desire. Read on to learn more.

Why are life insurance medical exams required?

Medical exams are conducted by life insurance companies to ensure they have a clear picture of who they're insuring (and for how much). It's easy to lie or exaggerate about your health and well-being when applying for a policy. But the company won't just take your word for it and let you pay lower premiums. They'll want to confirm your health status. This will likely be done in two ways:

  • A questionnaire (online or paper): This is where you will answer some basic questions including your age, height, sex, weight, etc. You'll be asked if you smoke or previously did. You'll likely be asked about your alcohol consumption, if you're on any medicine and if you have any allergies. Be honest when answering, because the company will determine the truth when they complete the in-person medical exam.
  • Physical exam: This is done at no cost to the applicant. It's completed either in an office or the insurance company can send a medical professional representative to your home to complete it. If you've had your annual wellness visit with your primary care physician then you already know what to expect. You will have to step on a scale to check your weight. They'll check your blood pressure. They'll ask additional questions not addressed in the questionnaire. You'll also need to provide blood and urine samples. It should be relatively quick (think under 30 minutes).

You likely won't get immediate approval or rejection on the spot. The results of the test need to be returned to the insurance company for that to happen.

If you're ready to start a new policy or want to supplement the life insurance you already have, speak to a provider and get a price estimate.

Can I get a life insurance policy without a medical exam?

If you don't want to take a medical test to get life insurance, you don't necessarily need to. Some providers may not require a medical test in exchange for a life insurance policy. You can explore those right now and expedite the approval process

Here are some common reasons why you may not have to get a medical test for life insurance:

  • You're young: If you're under 30 and healthy. 
  • You want basic coverage: If you're not seeking a particularly high amount of coverage you may not have to take an exam. 
  • Someone else is insuring you: This would be applicable when being added to a relative's supplemental life insurance.

It's important to note that these guidelines don't apply across providers. The necessity of a medical test is specific to all of the above factors - and the provider you are submitting an application with. 

The insurance you would get without submitting to an test is different than the traditional types you may receive should you agree to the standard vetting process. That doesn't mean one type is better than the other, but it's something to be aware of.

No-exam life insurance policies, for instance, are popular if you fall into one or more of the above categories. This type of coverage is guaranteed and is easier to finalize since you're not taking an exam. 

Despite its benefits, this insurance type also has some drawbacks. 

For example, the death benefit may be limited. It also may come with higher monthly premiums than other, more traditional insurance types. This is because the insurer has no real record of your medical history or health status and is therefore taking on additional risk by approving you for coverage. 

When determining whether a medical test is needed - and what kind of protection you can apply for - it's best to speak to a provider directly who can assist you and answer any questions you may have. 

Factors that affect life insurance rates

If you're well then a medical test can help ensure that you pay a low rate for life insurance coverage. Conversely, if you're unhealthy the test will demonstrate this, likely leading to a more substantial cost. But your performance on a medical exam, should you choose to take one, is only one factor that affects life insurance rates. Here are a few others to know:

  • Age: The younger you are, the less you'll typically have to pay. As you age, the rate will rise.
  • Gender: It may seem unfair for one sex to pay more but, statistically, women live longer than men. Since men often (but not always) die at an earlier age than women, they can expect to pay more for their life insurance coverage.
  • Policy type: The type of life insurance you choose (and are eligible for) will influence your rate. Term life insurance is generally cheaper but whole life insurance policies have cash options that may be appealing to you, depending on your circumstances and goals.

Speak with a life insurance expert today who can help you find the right plan for you. 

Mon, 28 Nov 2022 01:54:00 -0600 en-US text/html https://www.cbsnews.com/news/life-insurance-medical-exams/
Killexams : No-exam life insurance policies: Everything to know
Prepare today for a secure tomorrow
To get a no-exam life insurance policy, you can search online for simplified or guaranteed issue policies, which are relatively common.  KATLEHO SEISA / Getty Images

Obtaining life insurance can help you pass money on to your family or other beneficiaries after your death. But not all life insurance policies are the same. Not only can there be differences in factors like monthly premiums and policy limits, but there can also be varying requirements to qualify for a life insurance policy.

One route that some people take is obtaining a no-exam life insurance policy, meaning you don't have to visit a doctor to be eligible. If you don't want to make an extra trip to the doctor's office or you're concerned the test results could lead to even higher costs, then this may be a reasonable option. 

Here's a look at some of the top life insurance providers available. 

Before you make any final decisions, let's take a closer look at what no-exam life insurance policies are — and why you might consider going this route.

What is no-exam life insurance?

No-exam life insurance can include several different types of life insurance that do not require medical exams to initiate coverage. Here are two examples:

  • Simplified issue life insurance: This type of insurance can be for either term life insurance or whole life insurance. As the name implies, these policies follow a simplified process. Rather than needing a medical exam, you can answer a few basic questions and get a decision online in just a few minutes.
  • Guaranteed issue life insurance: This type of policy typically applies to permanent life policies. This is geared more toward those with health conditions and who may be older, so they can benefit those who want a guarantee to qualify, rather than being rejected following a medical exam. However, these policies typically have a waiting period of a couple of years, meaning the benefits might not kick in for someone who dies shortly after applying.

How to get a no-exam life insurance policy

To get a no-exam life insurance policy, you can search online for simplified or guaranteed issue policies, which are relatively common. You can also dig into the offerings of different insurance companies, as even if an insurance provider uses different terminology, they might still allow for coverage without an exam.

To learn more about different types of life insurance policies and options, speak to an expert. Haven Life, a New York City-based life insurance agency, can walk you through the process. You just need to answer a few basic questions to get a free quote.


Don't assume that just because something isn't specifically called a "no-exam life insurance policy" you need an exam. Regardless of what the provider calls the policy, check the fine print to see if you need a medical test or not.

Some providers also offer options like being able to convert a term life insurance policy into a whole life insurance policy without needing a medical exam. That's not to say that you're always better off converting vs. taking out a new policy, but it could be worth considering.

How much does no-exam life insurance cost?

No-exam life insurance policies typically cost much more than ones with medical exams. That's because the insurer needs to account for the extra risk that can come from not knowing enough about your medical situation.

For example, with one major life insurance provider, a simplified issue life insurance policy for a 20-year/$500,000 term for a 40-year-old, non-smoker woman in good health in California costs nearly $50 per month. In contrast, the same type of policy for regular term life insurance with a medical test only has an estimated cost of $30 in monthly payments.

You can also compare prices and plans by scouring life insurance providers online and getting free quotes.

Is no-exam life insurance worth it?

There can be a cost to the convenience of no-exam life insurance policies. But it's also possible that the economics work out in your favor. It's possible that something would be discovered during a medical test that increases your risk to the insurer, thereby raising your rates or perhaps even making you ineligible altogether. No-exam life insurance policies can also benefit those who don't qualify for typical life insurance due to factors such as age or medical history. 

However, if you're in relatively good health, meet a prospective insurer's age requirements and are comfortable seeing a doctor, then this type of insurance may not be for you — as you may secure a lower price with the medical exam.

Bottom line

Overall, a no-exam life insurance policy can offer a path for some higher-risk individuals to obtain life insurance or it could be a good way to quickly obtain coverage. However, you might be able to find lower rates if you go through with a medical exam, so it could be worth exploring your options to see what best fits your budget and goals.

Wed, 30 Nov 2022 15:13:00 -0600 en-US text/html https://www.cbsnews.com/news/what-is-no-exam-life-insurance-policy/
Killexams : Best No-Exam Life Insurance Of December 2022

We scored companies based on these measurements:

Price (50% of score): We averaged the no-exam life insurance rates for males and females in excellent health at ages 30, 40 and 50 for $500,000 and $1 million and a term length of 20 years.

Maximum face amount for lowest eligible age (10% of score): Companies with higher no-exam life insurance coverage amounts for the lowest age earned more points. Note that maximum no-exam coverage can sometimes become lower if you apply at a higher age.

Age eligible for best length/amount (10% of score): Companies offering no-exam life insurance to folks over age 50 earned extra points.

Accelerated death benefit available (10% of score): This important feature lets you access part of your own death benefit in the event you develop a terminal illness

Option to convert to a permanent life insurance policy (10% of score): This is a good option to have in place if you decide you want a longer policy, especially if your health has declined and you don’t want to shop for new life insurance.

Guaranteed renewals (5% of score): This option lets you extend the coverage after your initial level term period has expired, such as at the end of 10, 20 or 30 years.

Renewal rates can be significantly higher, but renewing can provide extended coverage to someone who may no longer qualify for a new life insurance policy because of health.

Median time from application to approval (5% of score): We gave more points to companies with lower no-exam life insurance approval times.

The timeline for approval could be within seconds or a month, depending on the company and possibly even your health.

Sources: Bestow, Ethos, Fabric, Haven Life, Jenny Life, Ladder, Policygenius and Forbes Advisor research.

Looking For Life Insurance?

Compare Policies With Leading Life Insurance Companies

Mon, 05 Dec 2022 20:26:00 -0600 Ashlee Tilford en-US text/html https://www.forbes.com/advisor/life-insurance/best-no-exam-life-insurance/
Killexams : Cogneesol Positioned as Major Contender in the Everest Group's P&C Insurance BPS PEAK Matrix(R) Assessment Report 2022

NEW YORK, NY / ACCESSWIRE / November 30, 2022 / Cogneesol, a global professional services firm delivering business process management, consulting, and technology solutions to businesses, has been positioned as a Major Contender in the Everest Group's P&C Insurance BPS PEAK Matrix® Assessment Report 2022.

This positioning by Everest Group is a testimony of Cogneesol consistent delivery excellence through the years, the partnership commitment to their clients, and of their intent to widen their playing field. Positioned very high in the ‘value delivered' segment under the market impact matrix, the recognition is a reflection on Cogneesol's client and delivery focus.

"Cogneesol's client centricity and delivery excellence have created strong confidence in our wide-ranging insurance solutions. Our offerings not only help clients tackle business disruptions but also enable them to enhance their competitive positioning. Our concerted focus and deep investments in building domain expertise, moving up the value chain and offering consistent value-adds have borne fruits", said Ashim Khurana, Cogneesol's head of Operations.

With an experience of over fourteen years, Cogneesol has been delivering a variety of insurance business process management services to clients across several countries. Leveraging domain expertise coupled with technology and data solutions, their insurance solutions reflect their determination and ambition toward optimizing clients' business processes and being their partner of choice.

Working with carriers, MGAs, wholesalers, retail brokers, agencies and loss adjusters Cogneesol today covers the entire insurance ecosystem from a business process point of view. Cogneesol has built a steady client base that grows 12% per annum. Accordingly, their employee base has been growing at a rate of 15% per annum.

Through the years, they have moved up the value chain, adding complex processes to their suite. Few of their complex and niche product lines within commercial lines include aviation insurance, sexual harassment insurance, cybersecurity risk, liability insurance of software products, strata insurance, logistics insurance. Additionally, they have upped the game by developing a new Analytics Center of Excellence focussed on providing, both descriptive and predictive analytics to its clients and enabling them to make informed decisions based on data. This diversified portfolio has earned Cogneesol a niche place in the insurance service providers' category.

In its assessment report, the Everest Group notes, "Cogneesol's presence in the P&C insurance landscape has been gradually evolving in terms of geographical expansion, focus on carrier and MGA markets, investments in targeted technology solutions, and domain upskilling of talent through relevant certifications and courses such as for underwriting. Although it has a small-scale portfolio currently for P&C insurance BPS, it has been clocking decent growth and still has a healthy pipeline in different geographies such as North America, the UK, and Asia Pacific, especially the ANZ region. It is also gradually moving to larger clients that would offer a greater volume of work on an average than its current clientele."

The report further adds, "Considering that the majority of its engagements are sole-sourced, this also reaffirms its reference ability in this space, thereby leading to better growth prospects moving forward. Even the referenced clients who were interviewed appreciated the domain, transition, and flexibility that the provider brings to the table."

Their technology and digital interventions pre-empt market needs and guide the development of bespoke solutions for core insurance functions on the one hand; and on the other, make non-core processes such as accounting, digital marketing, customer services smarter and more intelligent. In recent times, Cogneesol has been making significant investments to augment their automation and digitization add-ons in order to offer their clients end-to-end solutions to handle complex operational and business changes, and still achieve high performance in a volatile market. The Everest report specifically adds, "From a data investment standpoint, Cogneesol has started to fulfill the need for a consolidated view of data residing on multiple systems, especially for such intermediaries that are acquiring other smaller peers in the market.

Cogneesol's structured quality assurance program overarches all its offerings. Governed by strong metrics to control service levels and monitor end-customer requirements to ensure delivery excellence, consistency and increased customer satisfaction, quality monitoring at Cogneesol is a default. Working across industry-accepted agile and business process re-engineering approaches, continuous improvements drives Cogneeesol's both operational and strategic goals.

The positioning of Cogneesol as a Major Contender in the Everest Group's P&C Insurance BPS PEAK Matrix® Assessment Report 2022 will boost its image of a credible service provider, and will entrench its position as a strong player in the market. Read here to have an overview of Cogneesol's full range of insurance outsourcing solutions.

About Cogneesol

Cogneesol is a leading business transformation, technology, and consulting services company, that partners with clients, across service lines and industries, helping them to overcome operational challenges and optimize processes, thereby unlocking business value, and driving growth. Our extensive suite of solutions include business process management services, technology solutions, customer experience services, digital services, analytics. We cater to clients spread across twenty-five countries and who span across multiple industries. We understand our client's vision, devise performance accelerating strategies for them, and deliver unmatched outcomes throughout the business lifecycle. Headquartered in North America, we have a strong team of professionals and certified across our onshore and offshore delivery centers in countries including North America, India and Philippines.

For more information contact-

Visit - www.cogneesol.com
Contact Number - +1 833 313 3143
Email ID - info@cogneesol.com

SOURCE: Cogneesol

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Tue, 29 Nov 2022 23:16:00 -0600 text/html https://www.benzinga.com/pressreleases/22/11/ac29903842/cogneesol-positioned-as-major-contender-in-the-everest-groups-p-c-insurance-bps-peak-matrix-r-ass
Killexams : ZhongAn Online P & C Insurance Co Ltd (6060)

ZhongAn Online P & C Insurance Co., Ltd., an Internet-based Insurtech company, provides internet insurance and insurance information technology services in the People’s Republic of China. The company operates through Insurance, Technology, Banking, and Others segments. It offers property and casualty insurance products, including accident, bond, health, liability, credit, cargo, household property, motor, and other insurance, as well as shipping return insurance. The company also provides technology development and consulting, asset management, IT consulting, medical examination, Internet hospital, biotechnology, pharmacy, technology training, Fintech, digital asset, medical, life insurance, online banking, and insurance broking services. ZhongAn Online P & C Insurance Co., Ltd. was incorporated in 2013 and is headquartered in Shanghai, China.

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Sun, 04 Dec 2022 18:08:00 -0600 en text/html https://www.investing.com/equities/zhongan-online
Killexams : Global insurance industry - statistics & facts

What are the main types of insurance?

There are two broad types of insurance: life and non-life. In 2021, the highest value of life and non-life direct premiums was written on the U.S. insurance market. With life insurance, the policyholder keeps the plan active by paying premiums to the insurance company. When the policyholder passes away, the insurer pays a lump sum to the designated beneficiary. Clients with non-life insurance – also known as general insurance – can file a compensation or reimbursement claim for costs incurred as a result of loss or damage. Categories of general insurance include motor, liability, and property and casualty insurance.

Who are the world’s leading insurers?

In terms of market capitalization, the global insurance market was led by U.S.-based insurers as of September 2022. Additional information for the world’s current market leader, United Health, can be found here. Premiums written describe the total amount customers pay for insurance coverage and are an insurer’s main source of revenue. In 2021, U.S. insurer, Berkshire Hathaway, generated the highest revenue worldwide, reaching well over 200 billion U.S. dollars.

This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.

Sun, 27 Nov 2022 10:00:00 -0600 en text/html https://www.statista.com/topics/6529/global-insurance-industry/
Killexams : The 7 best travel insurance companies of December 2022

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Killexams : Best Life Insurance Companies Of December 2022

There are two primary types of life insurance: term life and permanent life.

Term Life Insurance

Term life insurance is a policy where you choose the length of coverage, such as 10, 15, 20 or 30 years. If you die within that term, your beneficiary will receive the death benefit. If you outlive the term and don’t renew the policy (at a higher cost), there is no death benefit.

Term life insurance is good for folks who want to cover a specific financial concern, such as income replacement during your working years.

Permanent Life Insurance

Permanent life insurance is good for folks who want a death benefit paid out no matter when they pass away. Permanent life insurance policies also have a cash value component that can accumulate money on a tax-deferred basis. Permanent life insurance is usually significantly more expensive than term life.

People who choose permanent life insurance usually have specific goals in mind, such as supporting financial dependents, funding a trust for heirs, or building cash value to supplement retirement savings.

Permanent life insurance can be broken down into main subtypes:

Whole life insurance

Whole life insurance is predictable because the premiums, rate of cash value growth and amount of the death benefit are fixed and guaranteed.

Universal life insurance

This type offers more flexibility and you may be able to adjust premium payments and death benefits within certain parameters. The cash value growth will depend on the insurer and the performance of the invested assets that are underlying the policy. Types of universal life insurance are fixed-rate universal, guaranteed universal, indexed universal or variable universal.

Permanent life insurance policies can be difficult to understand from quotes or hypothetical illustrations. Simply comparing life insurance quotes or some projection of cash values won’t reveal whether the policy is a good value. “Look under the hood,” advises Flagg of Veralytic. For example, a life insurance agent or financial advisor can request a Veralytic report to see how the policy you’re considering compares to industry benchmarks.

“Ultimately, the premium you’ll have to pay and/or the cash value growth you’ll see depends on what the insurer actually charges and how well the investments do. You want to confirm that internal policy costs are competitive and that the investments within the policy fit your risk tolerance,” cautions Flagg.

Variable life insurance

Variable life insurance offers flexibility not found in whole life insurance, but with a safety net so your death benefit can’t drop below a certain amount.

That flexibility includes deciding on where to invest your cash value. The investments you choose play a vital role in the success of your policy, which makes this an option if you want to play an active role in your life insurance. Unlike a variable universal policy, a variable life insurance policy offers a safety net so that your death benefit won’t fall under a specific dollar figure.

A variable life insurance policy doesn’t let you change your premiums, which also makes it unlike variable universal life.

Similar to other types of permanent life insurance, a variable life policy offers cash value, which you can tap into while you’re alive. You need to make sure your policy maintains at least a minimal level of cash value or your policy could lapse.

No-Exam Life Insurance

Life insurance companies sometimes offer policies without a life insurance medical exam. These no-exam life insurance policies don’t require an test but you may be asked to answer health-related questions.

Types of life insurance policies include:

  • Accelerated underwriting: Life insurance companies primarily use information from third-party sources and algorithms to set your rate. The insurance company will review your prescription drug history, criminal record and driving record to gauge your risk. With that information, the insurance company will set your life insurance rates.
  • Guaranteed issue life insurance: There’s no medical exam, no health questions asked and you can’t be turned down.
  • Simplified issue life insurance: There’s no medical exam, but you likely have to answer a handful of health questions.

Guaranteed issue and simplified issue policies can cost much more than policies that are fully underwritten, but they’re a way to get life insurance quickly and may be the only option for older people and those with health issues.

Other Types of Life Insurance

Other types of life insurance include:

  • Burial insurance: Also called funeral insurance or final expense insurance, a burial insurance policy typically has a small death benefit meant to pay off final expenses, such as $10,000. They are typically whole life insurance policies and will have a high cost for the amount of coverage.
  • Survivorship life insurance: A survivorship life insurance policy, also called second-to-die life insurance, offers coverage for a husband and wife. The death benefit isn’t paid out until both people die.
  • Mortgage life insurance: A mortgage life insurance policy pays off your mortgage if the policyholder dies. The payment goes directly to the mortgage lender.

Supplemental life insurance: Supplemental life insurance is a free or low-cost group policy that may be offered by an employer or group. If a supplemental policy is connected to an employer, you will likely lose that coverage if you quit or are terminated.

Mon, 05 Dec 2022 20:26:00 -0600 Amy Danise en-US text/html https://www.forbes.com/advisor/life-insurance/best-life-insurance-companies/
Killexams : Change in B.C. liability law puts financial burden for accident coverage on U.S. drivers No result found, try new keyword!U.S. drivers with plans to visit British Columbia should check vehicle insurance for coverage. A new law blocks filing against B.C. insurance. Warren Sterling The Bellingham Herald As the U.S ... Fri, 25 Nov 2022 16:05:00 -0600 text/html https://www.thenewstribune.com/news/state/washington/article269224772.html
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