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A risk retention group is a corporation or limited liability association formed under the laws of any state for the primary purpose of assuming liability exposures on behalf of its members. Members of the group must be engaged in similar activities or related with respect to liability exposures by virtue of any related or common business ...
Insurance is characterized as a business vested or affected with the public interest. [2] Thus, the business of insurance, although primarily a matter of private contract, is nevertheless of such concern to the public as a whole that it is subject to governmental regulation to protect the public’s interests. [1]
Erie Insurance Exchange began in 1925 when two salesmen for the Pennsylvania Indemnity Exchange, H.O. Hirt and O.G. Crawford, left to create their own insurance company.. In three months and 20 days, the two convinced 90 stockholders to invest using a hand-written business plan, raising $31,000 to begin their own auto insurance compa
Private Limited Company: have 2–200 shareholders; shares are held privately and cannot be offered to the public. Have limited liability and registration is mandatory. Regulated by the union government. Public Limited Company: have more than 200 shareholders. Can be listed or unlisted in the share market.
The term public benefit corporation (PBC) or another abbreviation may be added to the entity's name if the founders choose. Finally the share certificates that are issued by the entity should state that the firm is a public benefit corporation. A shareholder vote is required to amend the articles which must include "non-voting" shares.
Personal liability coverage: This coverage may help financially protect you against potential legal fees from someone getting injured on your property. Medical payments coverage: This coverage ...
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