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What does it mean when an insurance company is in liquidation?

“Liquidation” is the process whereby the Commissioner, upon a Superior Court’s order, terminates an insurance company’s insurance business by canceling al...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Do I need to send a 1099 to health insurance company?

Insurance companies are almost without exception corporations and as such are exempted from IRS 1099-MISC filing requirements, except in certain cases unr...

What happens when a whole life insurance policy lapses?

What Happens When Life Insurance Lapses. Once a policy has lapsed, you no longer have coverage. That means the insurer does not have to pay a death benefi...

What is the subject of insurance?

Subject of Insurance — one or more units of exposure potentially involved in a single-loss event. What is the subject matter of life insurance? So life in...

What is the structure of mortgage loan?

Mortgage loans are generally structured as long-term loans, the periodic payments for which are similar to an annuity and calculated according to the time...

What is the best insurance for a child?

The 6 Best Life Insurance for Children of 2021 Best Overall: Mutual of Omaha. Best for Whole Life Coverage: Gerber Life Insurance. Best for Term Coverage:...

Do married couples have to be on the same auto insurance policy?

Married couples do not have to combine insurance policies. However, it usually makes sense to do so. Combining policies can qualify couples for discounts ...

Can I drive my family members car?

‘Permissive Drive’ rules are applicable in such instances. According to Indian motor tariff, anyone can drive your car under the permitted laws. Hence, do...

Who is the black actor in the progressive commercial?

Chicago area native Bill Glass appreciates the irony surrounding the popularity of the Progressive Insurance commercials where he plays Dr. Rick, a self-h...

What happened to the Federal Deposit Insurance Corporation?

Although earlier state-sponsored plans to insure depositors had not succeeded, the FDIC became a permanent government agency through the Banking Act of 19...