Insurance for Dummies

"Insurance for Dummies" introduces readers to the basics of every kind of insurance. It provides expert advice and step-by-step guidance for life, health, car, home, and other kinds of insurance. Author Jack Hungelmann, CIC, CPCU, has over 25 years of insurance experience and has taught several classes on personal risk management and insurance.
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U.S. v. Southeastern Underwriters Association

The 1944 Supreme Court Case of the United States v. Southeastern Underwriters Association found SEUA's practice of setting multi-state rates to be in violation of federal antitrust laws. This decision overturned an 1869 Supreme Court case decision that upheld states’ jurisdiction of regulation, and made the business of insurance subject to federal regulation for the first time.
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I'm Sorry laws

Almost two-thirds of all U.S. states have enacted "I'm Sorry" laws. These laws allow a doctor to apologize for medical mistakes without allowing the admission to be used against them in court. This legislation responded to malpractice defense strategies that make victims feel angry and further encourage law suits. Malpractice insurers advise doctors against the use of any admission language.
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Potential climate change

According to a recent Ernst & Young study of the insurance industry, potential climate change is the greatest strategic risk currently facing the property/casualty insurance industry. Other high risks include: demographic shifts in markets; catastrophic events; competition from new players; and regulatory intervention.
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Property claims databases

Most property insurers use one of two major property claims databases for underwriting a policy: the Comprehensive Loss Underwriting Exchange (CLUE) and the Automated Property Loss Underwriting System (A-PLUS). These systems enable insurers to check the claim history of both the homeowner and the property that the homeowner is purchasing.
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First recorded auto accident

Henry Hale Bliss was the first recorded auto accident fatality in the United States. In September 1899, Bliss was struck by a taxi cab at the intersection of 74th Street and Central Park West in New York, when he paused to help a woman passenger get out of a trolley car. Bliss died the next day. A ceremonial plaque was dedicated to at this site in September 1999.
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Term life insurance

Term life insurance is a type of life insurance policy that provides death protection for a stated time period or term. It was developed to provide temporary life insurance protection on a limited budget. The first term life policies were issued in Philadelphia in 1759 to benefit the families of Presbyterian ministers.
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Term life insurance

Term life insurance pays money to a designated beneficiary upon the death of the policyholder. A general rule of thumb to determine the amount of term insurance to buy says multiply your current annual income by the number of years until retirement, but no more than 20.
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Health insurance coverage

According to recent U.S. Census Bureau statistics, there were 47 million Americans without health insurance coverage, or about 15.8 percent of the U.S. population. This is the highest ever recorded. According to the report, some of the trend can be explained by employers curtailing coverage or making it too costly for lower income workers to afford.
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Credit scoring

Credit scoring was invented in the 1950s by Stanford University researchers Bill Fair and Earl Isaac. The two established Fair Isaac and Co. in 1956 to provide credit-scoring services. Their FICO credit score uses several factors to predict the likelihood of repaying a loan and is the most widely used credit bureau score in the world.
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