Insurance Concepts

1. Person in charge of examining insurer's to make sure everything is up to standard.
5. A type of risk that could result in a gain or a loss.
7. The payment made by the insured each month for their insurance plan
8. A term that means one party writes the contract and it is, "take it or leave it."
10. A classification of risk that indicates the insured is at optimum risk for loss.
12. An agreement between two parties
14. A term meaning a contract of unequal value

2. The promise of an insurance company to pay for covered losses
3. A type of wording that will always be determined in favor of the insured.
4. The uncertainty of loss
6. Medical supplement plans for Medicare that helps cover expenses not covered in the base plans.
9. The amount an insured must pay before insurance will agree to pay.
11. Kicks in when an insured has reached the out of pocket maximum for the year
13. Health Insurance Portability and Accountability Act