Major Types of Private Insurers
-:- Stock Insurers
Mutual Insurers
Lloyds of London
stock insurer
-:- a corporation owned by stockholders
objective is to earn profit for stockholders by increasing dividends
mutual insurer
-:- a corporation owned by the policyholders
profits are distri...
✓ -:- assessment mutual: insurer has the right to assess policyholders an
additional amount if the insurer's financial operations are unfavorable
advance premium mutual: insurer does not issue assessable policies
-fraternal insurer: provides life and health insurance to members of a social or religious
organization
Lloyd's of London
✓ -:- world's leading market that provides services and physical facilities
to write specialized lines of insurance
NOT an insurer
Lloyd's Brokers
✓ -:- represent policyholders to arrange coverage with syndicates
2|P a g e | G r a d e A + | 2 0 2 0 2 5
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
