statutory capital: Sum of statutory surplus, capital, and mandatory securities valuation reserve (MSVR).
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Author: FastInsurance24.com
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Reseller or Type:Type of Insurance
Type:Pet and Livestock
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Details: VetSmart offers Optimum Wellness Plans. The Optimum Wellness Plans are detailed action plans which include care for the routine medical needs of your Pet. Each Optimum Wellness Plan offers differing amounts of health care meant to prevent illness and lengthen your Pet’s life. As an added bonus, when you enroll in any one of our plans, your Pet becomes eligible for discounts or lower fees on most other services and products — even prescriptions
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statutory accounting: Accounting practices prescribed by the insurance department of the insurer’s state of domicile based on standards set by the National Association of Insurance Commissioners (NAIC). The principal objective of statutory accounting is to provide a framework for a conservative measurement of an insurer’s surplus.
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Telephone:877-632-3001
Reseller or Type:Type of Insurance
Type:Home
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Details: USAA is a worldwide insurance and diversified financial services family of companies with roots in serving the military community.
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state regulation of insurance: The complexity and cost variations of insurance stems directly from state regulation of the industry. Unlike the securities and banking industries, the insurance industry does not have a strong federal oversight role. Instead, through the 1945 McCarran-Ferguson Act, the domestic industry faces 55 sets of overseers (the 50 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam and American Samoa). With so many different sites of regulation, and so many sources of local sales outlets for insurance policies, itÆs not surprising that insurance policies are hardly the standardized commodities that you find when trading stocks or opening a bank account. This is particularly true in property/casualty coverage and less so in life insurance. Added to the maze of different products is the fact that state-based regulation means that insurers may base their rates in each state on their business profile in that state. Auto rates, for example, reflect accident and theft trends in local territories. The upshot is that there is great pricing variation along with lots of different types of policies. Lastly, insurers have increasing freedom to price their policies for whatever the market will bear. Even if an insurer has to file its rates in your state, you shouldnÆt assume that state regulators are poring over the rates to review their fairness.
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Telephone:800-242-6422
Reseller or Type:Type of Insurance
Type:Auto
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Details: For the past 76 years, Amica has received A.M. Best Company’s top rating for financial performance (currently A++). For the fifth consecutive year, the company was named to the Ward’s 50 Benchmark Group, which recognizes the 50 top performing insurance companies in the United States. Standard & Poor’s has assigned its AA+ financial strength rating to Amica. The company also consistently earns the highest customer service ratings from a nationally recognized consumer publication.
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state insurance department: An administrative agency that licenses insurers to do business in that state and implements state insurance laws and supervises (within the scope of these laws) the activities of insurers operating within the state.
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Telephone:800-564-6222
Reseller or Type:Type of Insurance
Type:Auto
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Details: AAA is a federation of 98 motor clubs providing its more than 40 million members in the United States and Canada with a full line of travel, financial, insurance and automotive-related services.
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state (compulsory) disability plan: Plan of short-term income replacement required by some states to cover eligible persons employed within that state.
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Telephone:800-844-6542
Reseller or Type:Type of Insurance
Type:Life
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Details: First Colony is a GE Financial Assurance company committed to providing high-quality, competitive insurance and annuities designed to help you build, protect and transfer wealth. First Colony is licensed in every state (in New York through its subsidiary, American Mayflower Life Insurance Company of New York), in Guam and Bermuda.
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