Excess line insurance companies also known as Excess and Surplus typically insure risks not covered by the standard lines market. It became the meeting place for parties wishing to insure cargoes and ships, and those willing to underwrite such ventures. If there is no such chance of loss, the transaction may have the form of insurance, but not the substance.
It is usually issued in conjunction with a search of the public records performed at the time of a real estate transaction. Insurance can influence the probability of losses through moral hazard, insurance fraud, and preventive steps by the insurance company.
The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. Dental insurance, like medical insurance, is coverage for individuals to protect them against dental costs. Numerous variations of this formula have been developed and are in use.
A reinsurer may also be a direct writer of insurance risks as well. Thanks so much for this great article; this is the stuff that keeps me going through the day. I've been looking around for your site after I heard about them from a friend and was thrilled when I was able to find it after searching for some time. Being a avid blogger, I'm happy to see others taking initiative and contributing to the community.
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