Insurance Essentials

loss ratio graph

Understanding Loss Ratio

A loss ratio is a quick way to evaluate the financial health and profitability of an insurance company. This article explains how to calculate the ratio and what insights you can gain from it. Also, we look at some …

Pay on behalf

Pay on Behalf of vs Reimbursement

“Pay on behalf of” and “reimbursement” are two different approaches to paying the bills associated with a claim. There are pros and cons to both. But …

Extended Reporting Period

Extended Reporting Period (ERP) Explained

VIDEO: An Extended Reporting Period, or ERP, is a finite window of time beyond the end of a claims-made policy during which the insured organization may report claims to the insurer. The ERP extension only …

Duty to defend

Duty to Defend

Duty to defend refers to the obligation to provide a legal defence for a claim made against the insured after that claim has been reported to the insurer.  Read more…

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Insurance Essentials

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