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What does carrier mean for medical insurance?

A carrier is another name for insurance company. The terms insurer, carrier, and insurance company are generally used interchangeably. Note that people wi...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Which account do insurance companies use to set aside sufficient funds to pay claims?

For insurance companies, balance sheet reserves represent the amount of money insurance companies set aside for future insurance claims or claims that hav...

How much is product liability insurance for a business?

The average cost of product liability insurance for products in a low-risk category is about $0.25 per each $100 in revenue. For example, if you sell $500...

Can doctor charge me more than insurance allows?

Anything billed above and beyond the allowed amount is not an allowed charge. The healthcare provider won’t get paid for it, as long as they’re in your he...

How do I get my property and casualty license in California?

Applicants may take one examination and apply for a Property and Casualty Broker-Agent license by selecting both the Proprty Broker-Agent and the Casualty...

What is Causa Proxima in insurance?

The Principle of Causa Proxima or Proximate cause is one of the six fundamental principles of insurance and it deals with the most proximate or nearest or...

Why are insurance companies allowed to deny claims?

There are several reasons insurance companies deny claims that are valid and reasonable. For example, if your accident could have been avoided or if your ...

What are exclusions in insurance policy?

Exclusion — a provision of an insurance policy or bond referring to hazards, perils, circumstances, or property not covered by the policy. Exclusions are ...

What is an h09 policy?

An HO2 policy is another basic homeowners insurance policy. It covers the 10 perils listed on an HO1 policy, and some additional perils, including falling...

Are insurance companies allowed to charge admin fees?

Insurers are allowed by law to charge admin fees as they see fit, however, according to the Financial Conduct Authority they must be reasonable and reflec...