Difference between revisions of "Insurance Definition"

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600 CE when they organized guilds called "benevolent societies" which cared for the surviving families and paid funeral expenses of members upon dying. Guilds within the Middle Ages served a similar objective, as did pleasant societies during Victorian times. Insurers will typically use insurance agents to initially market or underwrite their clients. Agents may be captive, meaning they write just for one firm, or independent, meaning that they will problem policies from several firms.<br>Many independent inventors are in favor of patenting new insurance products since it gives them protection from big firms when they bring their new insurance merchandise to market. Independent inventors account for 70% of the new U.S. patent purposes on this space. In figuring out premiums and premium rate structures, insurers consider quantifiable factors, including location, credit score scores, gender, occupation, marital standing, and training level. 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