Florida International University Insurance Rate and Financial Stability Questions

User Generated

ebtre811

Business Finance

Florida International University

Description

Responses should be a minimum of 300-500 words (excluding a restatement of the questions and quoted text) with correct spelling and proper grammar. All submissions are filtered through Turnitin! There is a premium on originality and completeness. Where applicable, you should comment on your own personal experiences


  1. Why is it important to contact state insurance department before purchasing insurance?
  2. How can an independent insurance agent provide a better insurance rate?
  3. Why is an insurance company’s financial stability important?

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Explanation & Answer

Attached.

Running head: INSURANCE

1

Insurance
Student’s name
Institution affiliation
Course

INSURANCE

2

1. Why is it important to contact the state insurance department before purchasing
insurance?
The two significant reasons for consulting the state insurance department before purchasing
insurance include; establishing that the insurance company is officiated to operate and that it is
covered by the state’s guaranty fund (Hart, M, 2019). Licensing, which involves official
commendation of operation, secures an individual or an organization from suffering from
fraudulent activities such as scam, and over-exploitation. A licensed insurance company
possesses the intellectual property rig...


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