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In the United States, a self-funded health plan is generally established by an employer as its own legal entity, similar to a trust.The health plan has its own assets, which, under the Employee Retirement Income Security Act of 1974 (“ERISA”), must be segregated from the employer's general assets.
Full or exclusive self-insurance is rare, most common is a combination of self-insurance and commercial insurance. Usually the predictable losses of the risk are retained and self-insured, forming a first or "working" layer of cover, and a stop-loss or stop-gap policy is purchased from the commercial insurance market.
LOMA administers a series of designation programs. The Fellow, Life Management Institute (FLMI) designation program, awards the FLMI designation to individuals who pass a series of 10 examinations; these insurance-focused examinations cover insurance, accounting, marketing, information systems, finance, law, management, and computers. [6]
In addition, a number of publications can be purchased via the I.I.I. store, including the Insurance Fact Book, the Financial Services Fact Book, Insuring Your Business, the Insurance Handbook and a wide variety of brochures, including "12 Ways to Lower Your Homeowners Insurance Costs". [4] The institute's current president and chief executive ...
The name was changed again in 1975 to the Independent Insurance Agents of America. In 2002, the association became the Independent Insurance Agents & Brokers of America (IIABA or the Big "I") to encompass the group's entire membership of independent insurance agents and brokers. Robert Rusbuldt is the current Big "I" president & CEO.
Car insurance costs skyrocketed to a 47-year high in December 2023, jumping by 20.6% from a year earlier, according to Bureau of Labor Statistics inflation data. The pandemic’s inflation levels ...
The Chartered Insurance Institute (CII) is a professional body dedicated to building public trust in the insurance and financial planning profession.The CII's purpose, as set out in its 1912 royal charter, is to 'Secure and justify the confidence of the public' in its members and the insurance sector as a whole.
Professional designation programs include formal education leading to CIP and FCIP designations in the classroom, distance learning and web-based learning. The Institute normally has about 20,000 students studying in programs at community colleges and universities in Canada, The Institute uses the CIP program to educate full-time students of property and casualty insurance.