Insurance

Adverse selection refers to a situation where sellers have information that buyers do not, or vice versa, leading to transactions that favor the party with more information.

Health Maintenance Organizations (HMOs) are a type of managed care organization that provide a wide range of healthcare services through a network of providers who agree to supply services to members.

A Health Savings Account (HSA) is a tax-advantaged account designed to help individuals save for medical expenses that high-deductible health plans don't cover.

A hold harmless clause is a legal agreement in which one party agrees not to hold the other party liable for any loss, damage, or legal liability.

Indemnity is a comprehensive form of protection that compensates an insured party for certain losses or damages specified in an insurance policy.

Indemnity insurance is a type of insurance policy that compensates the insured for losses or damages up to a certain limit, providing financial protection against claims or legal actions.

Insurance is a financial product that provides protection against potential future losses or damages by transferring the risk from an individual to an insurance company.

An insurance premium is the amount of money an individual or business pays for an insurance policy.

The Jones Act, formally known as the Merchant Marine Act of 1920, is a federal law that regulates maritime commerce in U.S. waters and between U.S. ports, requiring goods shipped between U.S. locations to be transported on ships that are built, owned, and operated by U.S. citizens or permanent residents.

Key person insurance is a type of life insurance policy taken out by a business to compensate for financial losses that may arise from the death or extended incapacity of an important member of the business.

Liability insurance is a type of insurance coverage that protects an individual or business from the risk of being sued and held legally liable for something such as malpractice, injury or negligence.

OASDI is a federal program in the United States that provides financial benefits to retired workers, their families, and disabled individuals.

A Qualified Longevity Annuity Contract (QLAC) is a type of deferred annuity funded with an investment from a qualified retirement plan or IRA that provides a guaranteed income later in life, typically starting after age 85.

The solvency ratio is a key financial metric used to measure a company's ability to meet its long-term debt obligations and other financial commitments. It indicates the financial health and stability of a company by comparing its total assets to its total liabilities.

Term life insurance is a type of life insurance policy that provides coverage at a fixed rate of payments for a limited period of time, after which it expires without value.

TSA PreCheck is a U.S. government program that allows pre-approved, low-risk travelers to pass through an expedited security screening at participating U.S. airport locations.