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The American Association of Insurance Services (AAIS) is an American national trade association for the insurance industry in the United States. AAIS offers details on product creation, statistical research, compliance, administrative paperwork, and technical preparation to more than 700 Member insurance agencies. [ 1 ]
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
Shortly after that, other states followed until, by 1871, nearly every state had "some type of supervision and control over insurance companies." [3] Often the legislation and rules promulgated by insurance commissions of one state conflicted with those of others. And in some cases, the rules that applied to out-of-state insurers deprived them ...
“Other forms of insurance, for example homeowners, cover major problems but routine issues, like mowing the lawn and cleaning the gutters are covered by out-of-pocket expenditures.” | Opinion
Insurance law is the practice of law surrounding insurance, including insurance policies and claims. It can be broadly broken into three categories - regulation of the business of insurance; regulation of the content of insurance policies, especially with regard to consumer policies; and regulation of claim handling wise.
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and ...
Health insurance stocks jumped after Donald Trump won the presidential election on expectations for deregulation in the industry, but shares tumbled after the killing of UnitedHealthcare CEO Brian ...
3. Mechanical failure. When mechanical components fail due to normal wear and tear — whether it's a seized engine or failed transmission — your auto insurance won't pay for repairs.