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Simple English definitions for legal terms

insurance company

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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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babybunny
21:55
@KnowledgeableRitzyWasp: gweilo job lolll
KnowledgeableRitzyWasp
21:55
Hahahaha
KnowledgeableRitzyWasp
21:56
What is the meaning behind that poem? It’s really prettt, is she lamenting about being naive
KnowledgeableRitzyWasp
21:56
Or is it a love poem
babybunny
21:59
i always think about it as making sacrifices for desire, still prioritizing that despite living in turmoil
babybunny
22:00
naivete is definitely a part of it
KnowledgeableRitzyWasp
22:01
Okay, that’s a pretty cool poem. The meaning makes it cooler
KnowledgeableRitzyWasp
22:03
There’s something unique about trying to find time to get laid even though your life is in turmoil. It’s very human
22:03
Did anyone get a message from Texas A&M about delayed decisions?
babybunny
22:04
very true. I’ve never crossed half of China to sleep with someone but I did take a 19 hour flight home just to see someone I loved again. close enough I think
KnowledgeableRitzyWasp
22:05
Yeah, close enough
babybunny
22:07
also really like the short story “a woman like me” by xixi. kind of about a leftover woman. she works in a mortuary and she feels like she’s too dead as a result + too quirked up for any man to love her
babybunny
22:08
“A woman like me is actually unsuitable for any man's love. So the fact that the emotional involvement between Xia and me has reached this point fills even me with wonder. I feel that the blame for my having fallen into this trap, from which there is no escape, rests solely with Fate, which has played a cruel trick on me. I am totally powerless to resist Fate. I've heard others say that when you truly like someone, what may be nothing more than an innocent smile directed your way as you sit quietly in a corner can cause your very soul to take wing. That's exactly how I feel about Xia. So when he asked me: Do you like me? I expressed my feelings toward him without holding back a thing. I'm a person who has no concept of self-protection, and my words and deeds will always conspire to make me a laughingstock in the eyes of others. Sitting in a coffee shop with Xia, I had the appearance of a happy person, but my heart was filled with a hidden sorrow; I was so terribly unhappy because I knew
babybunny
22:08
okay that’s my chinese lit lesson for the night enjoy
KnowledgeableRitzyWasp
22:09
Ooh that’s fire
babybunny
22:09
oh wait “…because I knew where Fate was about to take me, and now the fault would be mine alone”
KnowledgeableRitzyWasp
22:11
I love the self doubt because we as the readers can tell she’s a really interesting and unique woman but then she’s just going off on herself about how she’s unlovable and exists only to embarrass herself
KnowledgeableRitzyWasp
22:11
Thanks for sharing this lit, it makes me feel lots of things, and I think that’s cool
babybunny
22:15
you’re welcome! <3
MightyUnableSphinx
23:25
a bunch of my coworkers are married chinese women
MightyUnableSphinx
23:25
they all have MBAs from american schools
MightyUnableSphinx
23:26
so maybe they got so clouted in china they had to come to the states to find a suitable mate
Ijustwannagetinman
23:39
The more I read about waitlists the more hopeless I feel about getting off ucla’s….
MightyUnableSphinx
0:19
this is the most depressing profile i have ever seen lol: https://www.lsd.law/users/creep/ZestyItalian
MightyUnableSphinx
0:19
he locked tf in for a 180 and didn't hit a single t14
Ijustwannagetinman
0:52
:( it can be a brutal process but i hope he find great joy and success at McGill:)
not that surprising. NURM international cycles are brutal even with perfect stats
pug
0:57
IDK tho hes canadian - i dont think we’re as disadvantaged as other internationals. no visa application, no english testing needed, and gpas are convertible
2:14
hi i’m an NURM international
2:14
@KetchupOnPasta: remember me
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