We help customers realize their hopes and dreams by providing the best products and services to protect them from life's uncertainties and prepare them for the future. As per the section 4 of IRDA Act 1999, Insurance Regulatory and Development Authority (IRDA), which was constituted by an act of parliament. Errors and omissions insurance (E&) is business liability insurance for professionals such as insurance agents, real estate agents and brokers, architects, third-party administrators (TPAs) and other business professionals.
The global insurance industry was sufficiently capitalised to withstand the financial crisis of 2008 and 2009 and most insurance companies restored their capital to pre-crisis levels by the end of 2010. Indemnity - the insurance company indemnifies, or compensates, the insured in the case of certain losses only up to the insured's interest. No-fault insurance is a type of insurance policy (typically automobile insurance) where insureds are indemnified by their own insurer regardless of fault in the incident.<div style='text-align:center'><iframe width='480' height='336' src='http://www.youtube.com/embed/7Ls_GbJo77k' frameborder='0' allowfullscreen></iframe></div>
A recent example of a new insurance product that is patented is Usage Based auto insurance Early versions were independently invented and patented by a major US auto insurance company, Progressive Auto Insurance ( U.S. Patent 5,797,134 ) and a Spanish independent inventor, Salvador Minguijon Perez ( EP 0700009 ). Long-term disability insurance covers an individual's expenses for the long term, up until such time as they are considered permanently disabled and thereafter Insurance companies will often try to encourage the person back into employment in preference to and before declaring them unable to work at all and therefore totally disabled.
The Division will continue to accept comments through December 31, 2015 on the Massachusetts voluntary market for homeowner's insurance. The state of Iowa is part of the U.S. insurance regulatory framework which is a highly coordinated state-based national system designed to protect policyholders and to serve the greater public interest through the effective regulation of the U.S. insurance marketplace.
