General Insurance Basics

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Across
  1. 3. Private insurers who voluntarily offer insurance coverages at rates designed for customers with average or better than average loss exposures
  2. 6. The insurer acquires legal rights to pursue recoveries on behalf of the insured to the insurer to claim from the third-party person
  3. 8. Provides coverage for property and net income loss exposures
  4. 9. Process of deciding which risks an insurer will cover and what will be charged for the coverage
  5. 10. One of the core component of Insurance operations
Down
  1. 1. A legal contract between “the insured” and “the insurer”
  2. 2. Possibility of financial loss or chance of losses to an insured
  3. 4. a person who sells insurance products to an insurance company or companies
  4. 5. A ratio that measures the amount paid in claims by an insurer over the earned premium
  5. 7. Life Cycle that begins with the Customer request for Quote from the Insurance Company