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LSDefine

Simple English definitions for legal terms

insurance company

Read a random definition: serendipity doctrine

A quick definition of insurance company:

An insurance company is a business that sells insurance policies to people or other businesses. When you buy insurance from a company, you pay them money (called a premium) to protect you from certain risks. For example, if you buy car insurance, the company will pay for damages if you get into a car accident. There are different types of insurance companies, including ones that are owned by their policyholders (called mutual insurance companies) and ones that are owned by shareholders (called stock insurance companies).

A more thorough explanation:

An insurance company is a business that provides insurance policies to individuals or organizations. These policies protect against financial losses due to unexpected events, such as accidents, illnesses, or natural disasters.

  • Captive Insurance Company: A company that insures the liabilities of its owner. The insured is usually the sole shareholder and the only customer of the company.
  • Mixed Insurance Company: An insurance company that has characteristics of both stock and mutual companies. It distributes part of the profits to stockholders and also makes distributions to the insureds.
  • Mutual Insurance Company: An insurance company whose policyholders are both insurers and insureds. They pay premiums into a common fund, from which claims are paid. The policyholders are the owners of the company, as opposed to a stock insurance company owned by outside shareholders.
  • Stock Insurance Company: An insurance company operated as a private corporation and owned by stockholders who share in the company's profits and losses.
  • Stock Life-Insurance Company: A stock insurance company that does life-insurance business.

For example, a person may purchase car insurance from a stock insurance company. The company is owned by shareholders who invest in the company and share in its profits and losses. The policyholder pays premiums to the company, and in return, the company provides coverage for any damages or losses resulting from a car accident.

insurance commissioner | insurance of the person

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14:47
dude washu has sent me an email at least once per feek for 3 months
14:47
it has significantly impacted my opinion on their law school
14:48
week* frick
BluePacedCephalopod
14:49
yeah like i've gotten radio silence from them since october
BluePacedCephalopod
14:49
like if you don't want me that's fine but why not reject or WL people? too busy having Zoom seminars
BluePacedCephalopod
14:50
like it's actually so rude that they don't have the decency to R/WL before like April
15:03
Lmaoo the Zoom seminars
GW is requesting my fall transcripts (I had intended to apply during the fall semester when I requested them, but had three hurricanes-one with water rescues in my neighborhood-an emergency 2 1/2 week trip to Colorado to say goodbye to my mother-in-law, then I received my service dog, which required another eight days away from school for training), so I ended up applying this month. If I request new transcripts through LSAC, does each school I applied to receive them? I'm hoping to not have to write an addendum of why all of my narrative evaluations mention my busy schedule or that I had to miss classes and whatnot. (My school doesn't do letter grades.)
AnotherUsername1
16:31
Yes, they receive them automatically from LSAC
@AnotherUsername1: Thank you! :)
1a2b3c4d26z
17:00
hi
omelette
17:22
yooo 1a
omelette
17:22
its eggan
omelette
17:22
eff i missed him
Do y'all think Berkeley's gonna reject me or waitlist me. An A seems unlikely atp.
omelette
18:24
i feel the same way
'tis very sad
It sucks cause I feel like I fucked up my video statement but the rest of my app was strong and now the video statement isn't even a requirement
I think as long as you haven't been R or WL, you're still in the running! I don't think they'd leave anyone hanging if they already knew! <3
BatmanBeyond
19:12
Tried negotiating scholarships with the school but they basically called my bluff saying I have to share other letters by the deposit deadline to get any $. It feels good to bet on myself though
1a2b3c4d26z
19:37
EGGGGG
1a2b3c4d26z
19:38
MY MAN
1a2b3c4d26z
19:38
How's it goin
[M] hw03
20:46
how's everyone doing
did anyone have a penn date change? mine went into review early feb, then the date on the portal changed to a couple days ago.. but no email update wondering if anyone else is in the same boat
omelette
22:24
@1a2b3c4d26z: im ok just waiting on a few more schools
0:32
how do you fuck up a video statement when youre well aware its going to happen and its straightforward
Obama
2:13
You’re an idiot
Obama
2:14
There’s a variety of ways for it to go awry
omelette
2:59
yeah true, an alarm noise went off in the middle of my video statement and i just kept going but it could have prevented the adcomms from hearing what i was saying
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