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Insurance-Related Terms Explained (In Plain English)
Here we will focus on simplifying terminology specific to professional and management liability. No insurance jargon here, just plain English that we can all wrap our heads around.
Employee dishonesty is a major problem for organizations. Crime committed by employees is complex because it is about human behavior. Fortunately, there are steps an organization can and should take to limit risk. Nevertheless, we cannot totally eliminate the risk because we need employees and we need to trust them to carry out their duties. ...
The Insurance Training Center takes pride in delivering high quality courses on professional and management liability insurance and related topics. Our courses are designed by industry experts for insurance buyers and professionals. We cover topics from beginning to end and are an unbiased source of information with no other agenda than to provide reliable, practical,...
Commercial crime insurance offers cover for companies to protect themselves against loss from damage, destruction or disappearance of their own property as a direct result of crime. Here are some important things to note: Commercial crime insurance limits the negative financial impact of crime on the organization, it doesn’t prevent crime! Always read the entire...
What does it mean when a policy is on a "pay on behalf of" or a "reimbursement" basis? ‘Pay on behalf of’ and ‘Reimbursement’ are two different approaches to paying the bills associated with a claim. Whichever way your insurance policy works, it helps to know and understand it before a claim happens.
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