Insurance has its own language. There are terms and acronyms that are specific to the topic of insurance and even some with multiple meanings outside of an insurance context. In order to understand the mechanics of a captive insurance company, it's important to first understand basic insurance terminology. Check out this primer on insurance concepts for the non-insurance practitioner, with contributions from our #MOCIA President, Alan Fine. What questions about insurance and captives do you have? #captiveinsurance #riskmanagement #insurance
Missouri Captive Insurance Association’s Post
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Answer: Lender-placed insurance goes into effect as soon as a property owner’s policy lapses. This activation of coverage is automatic. #insurance #specialtyinsurance #insuranceagent
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The automatic activation of LPI coverage is one of the main cost drivers for this type of coverage, which is important for agents and consumers alike to understand. #insurance #specialtyinsurance #insuranceagent
Answer: Lender-placed insurance goes into effect as soon as a property owner’s policy lapses. This activation of coverage is automatic. #insurance #specialtyinsurance #insuranceagent
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Did you know that Insurance Awareness Day recognizes the importance of insurance coverage and promotes public understanding of its benefits? 🛡️ It reminds us to assess risks, protect our assets, and enjoy peace of mind knowing we have coverage in place. #FinancialPlanning #WealthManagement #FinancialPlanner #FinancialAdvisor #InsuranceAwarenessDay #InsuranceAwareness #Insurance
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