Long-term care insurance

Long-term care insurance first appeared in the 1980s. Long-term care insurance offsets the risk of financial drain if one should need medical and custodial care for chronic conditions. Industry experts project that the need for protection from the financial consequences of requiring long-term care will grow dramatically over the next few decades.
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Subrogation

Subrogation refers to the process where an insurance company seeks reimbursement from a person or entity legally responsible for an accident after the insurer has paid out money on behalf of its insured. According to the general rule, after paying the claim, your insurer is "subrogated" to the rights of your policy and can sue the negligent party on your behalf.
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Fastest-growing diseases

Forbes Magazine recently compiled a list of the top fastest-growing diseases in the United States. Esophageal disorders topped the list growing by nearly 500% during the last decade. Other fast-growing diseases and conditions include: high cholesterol, hemorrhoids, anxiety disorders, and breast cancer. All were up by over 100% over the last decade.
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HMOs

The Health Maintenance Organization Act of 1973 provided grants and loans to start or expand an HMO while requiring employers with 25 or more employees to offer federally certified HMO options alongside traditional health insurance. By law, HMOs would offer a specified list of benefits to all members, charge all member the same monthly premium, and be structured as a nonprofit organization.
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Retail clinics

Retail clinics such as MinuteClinic are being established in CVS stores, Targets, Wal-Marts and other retail outlets around the country. Retail clinics treat common ailments and offer an alternative to expensive emergency rooms. Most are open evenings and weekends. Experts suggest the growth of retail clinics is a product of more health consumerism, less health care coverage and a more transient society.
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Burial insurance

According to the National Funeral Directors Association, the average price of a traditional funeral is between $5,000 and $6,000. This average cost is expected to double in the next 15 years as production costs rise and land becomes scarce. Life insurance or burial insurance will cover funeral expenses. Burial insurance is specifically designed to cover funeral expenses for single and family type coverage.
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Insurance underwriting

Insurance companies earn profit through sound underwriting and investment management. Underwriting is the process of selecting risks to insure while deciding how much premium they pay. Collected premiums are put into reserves or invested. Specifically, profit equals the sum of earned premium and investment income less incurred loss and underwriting expenses.
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Insurance advertising

Insurance advertising budgets have grown significantly in recent years, up more than 64% since 2000. The main factor behind this increase is Geico's transition from traditional direct mail to TV, radio and billboard advertising. Geico's gecko and cavemen have helped increase its market share. Insurance competitors have responded, resulting in a surge of insurance advertising.
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Property insurance

The first use of property insurance occurred around 3000 BC in China. Chinese merchants would ensure their goods they shipped overseas through an insuring partner. In the event that a ship was lost at sea or pirated, an insuring partner would reimburse the owners of the ship and goods. In the event of a loss, the merchant would be held into slavery to the insurer until the debt was repaid.
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Most Admired Companies

Prudential Financial ranked highest among insurance companies on Fortune Magazine's most recent edition of the World's Most Admired Companies list. Fortune's annual survey ranks companies according to the following key attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment and global competitiveness.
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Nationwide

"Nationwide is on your side" is the familiar slogan of Nationwide Insurance. Nationwide began as the Farm Bureau Mutual Automobile Insurance Company in 1925. By 1943, the company was operating in 12 states. Further expansion saw the company change its name to Nationwide. Today, the Ohio-based insurer is one of the world's largest financial services companies with more than $157 billion in assets.
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The Human Life Value

How much is a life worth? The Human Life Value concept is an insurance method for computing the life value of a person. This concept considers many factors including: annual income, active earning to retirement, personal expenses, inflation, and future salary. The Human Life Value concept was founded by Dr. Solomon S. Huebner in the 1920s.
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The Birthday Rule

The Birthday Rule is an informal procedure used in the health insurance industry to help determine which health plan is considered “primary”, when children are listed as dependents on multiple health plans. Under this rule, the plan of the parent whose birthday occurs first in the calendar year is designated as primary, regardless of their birth year.
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Fraternal organizations

Fraternal organizations such as The Knights of Columbus flourished in the U.S. from 1850 to 1930. Many of these organizations provided their members an array of benefits and services, including insurance, which was previously available only to the upper class. By 1920, there was nearly 9 million insured members. Fraternal organization membership declined after World War II.
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Double Indemnity

The 1944 Hollywood crime drama "Double Indemnity" was nominated for several Academy Awards. Pacific All Risk Insurance agent Walter Neff develops a murderous scheme with a client's wife to collect double indemnity on her husband's insurance policy. The police accept the accidental death but Walter's friend Barton Keyes does not. Double cross ensues as Neff's affair and scheme unravel.
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Disability statistics

Nearly 1 in 3 people between the age of 35 and 65 will experience a disability of at least 90 days during their work careers. Additionally, 1 in 7 people between the age of 35 and 65 can expect to become disabled for five years or longer. More people are better prepared financially for death than they are for a disability event even though the odds of experiencing a disability event are 3 to 5 times greater than dying.
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Health insurance

You may save premium dollars by purchasing the appropriate health insurance product for your circumstances. There are many types of insurance programs, such as group, catastrophic, self-employed, HMO, and PPO, with varying coverage and premiums. Evaluate your insurance coverage each year and save money by selecting the best program for your budget and lifestyle.
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Flamingo Road and Pines Boulevard

According to a recent analysis of State Farm's claims database, the intersection of Flamingo Road and Pines Boulevard in Pembroke, Florida is considered the most dangerous traffic intersection in America. Also making the list: Red Lion Road and Roosevelt Boulevard in Philadelphia and 7th Street and Bell Road in Phoenix, Arizona.
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Motor vehicle crashes

Motor vehicle crashes are the leading cause of death for people age 15 to 20, according to the U.S. Dept of Transportation. Traffic and safety experts attribute the high rate to driver inexperience, driving at night, using devices such as cell phones while driving, and driving with other passengers. Graduated drivers license laws were enacted in the 1990s to reduce teen driving deaths.
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Motorcycle fatalities

According to the U.S. Dept of Transportation’s National Highway Traffic Safety Administration, motorcycle fatalities rose 127% from 1997 to 2006, marking nine consecutive years of higher motorcycle deaths. Traffic safety experts attribute the increase to a large increase in motorcycle ownership, rollback of mandatory helmet laws, and an increase in inexperienced motorcycle riders.
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Auto insurance fraud

Auto insurance fraud costs the property and casualty insurance industry about $14 billion in false claims a year, according to the Coalition Against Insurance Fraud. Insurance fraud studies estimate that up to one-third of all auto accident injury claims have some element of fraud. Exaggeration of injuries is the most prevalent type of fraud.
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Earthquakes

Standard homeowners, renters and business insurance policies do not cover damage from earthquakes. Earthquake coverage is obtained as a policy endorsement or as a separate policy. Earthquake coverage includes a deductible, which runs from 2 to 20 percent of the property's replacement value. About 90 percent of the U.S. population lives in seismically active areas.
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The Great Chicago fire

The Great Chicago fire is the most infamous fire to occur in the United States. Fire broke out at a farm on the evening of October 8, 1871, and quickly spread to other nearby buildings. The fire killed 300 people and destroyed more than 17,000 structures in 27 hours, including the entire downtown core of Chicago and most of its North side.
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Hurricane Andrew

Hurricane Andrew was the first tropical depression of the 1992 storm season. Andrew hit Florida on August 24 with 175 mph winds and hit the coast of Louisiana two days later with 120 mph winds. Andrew is the biggest natural disaster to date. More than 60 people were killed and damages exceeded $20 billion. The devastating hurricane also left eleven property and casualty insurers in insolvent.
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Terrorism Risk Insurance Act

The Terrorism Risk Insurance Act (TRIA) was enacted as federal law in 2002 and currently extends through 2014. TRIA was originally designed as a three-year program to provide reasonable terrorism coverage in the wake of the 9/11 events. TRIA is generally credited with stabilizing the private terrorism insurance market given the complex and unusual underwriting requirements involved.
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Insurance agents and brokers

Insurance is generally sold through agents and brokers. Insurance agents work for an insurance company and maintain the best interests of the insurance company when they sell to customers. Conversely, insurance brokers represent insurance customers. They determine the appropriate insurance coverages for their client and look for the best terms and price.
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Wedding insurance

A wedding insurance policy protects your financial investment in a wedding event. A basic policy costs between $125 and $500. A wedding may be canceled or postponed for reasons such as death or injury, military obligation, extreme weather or disaster. With the typical wedding costing over $25,000, wedding insurance policies have become more prevalent.
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Whole life vs. Term Life

A general insurance planning rule of thumb says purchase whole life insurance for permanent needs (funeral, burial, estate liquidity) and term life insurance for temporary needs (mortgages, college costs).
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Homeowners insurance deductible

The deductible amount on your homeowners insurance is the amount you have to pay toward a loss before your insurance company starts to pay a claim. The higher your deductible, the less premium you pay. If you can afford to raise your homeowners insurance deductible to $1,000 from the usual $500, you may save as much as 25% off your homeowners insurance premium.
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Cell phone drivers

Using a cell phone while driving your vehicle is dangerous. According to a University of Toronto study published in the New England Journal of Medicine, cell phone users were four to five times more likely to have crashes than non-users. Additionally, hands-free cell phone units were found to offer no further safety advantages over hand-held phones.
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