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  2. Professional liability insurance - Wikipedia

    en.wikipedia.org/wiki/Professional_liability...

    Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a ...

  3. Indemnity - Wikipedia

    en.wikipedia.org/wiki/Indemnity

    Indemnity insurance compensates the beneficiaries of the policies for their actual economic losses, up to the limiting amount of the insurance policy. It generally requires the insured to prove the amount of its loss before it can recover. Recovery is limited to the amount of the provable loss even if the face amount of the policy is higher.

  4. Health maintenance organization - Wikipedia

    en.wikipedia.org/wiki/Health_maintenance...

    Unlike traditional indemnity insurance, an HMO covers care rendered by those doctors and other professionals who have agreed by contract to treat patients in accordance with the HMO's guidelines and restrictions in exchange for a steady stream of customers. HMOs cover emergency care regardless of the health care provider's contracted status.

  5. Public liability - Wikipedia

    en.wikipedia.org/wiki/Public_liability

    Public liability is part of the law of tort which focuses on civil wrongs. An applicant (the injured party) usually sues the respondent (the owner or occupier) under common law based on negligence and/or damages. Claims are usually successful when it can be shown that the owner/occupier was responsible for an injury, therefore they breached ...

  6. Public economics - Wikipedia

    en.wikipedia.org/wiki/Public_economics

    Public economics (or economics of the public sector) is the study of government policy through the lens of economic efficiency and equity. Public economics builds on the theory of welfare economics and is ultimately used as a tool to improve social welfare. Welfare can be defined in terms of well-being, prosperity, and overall state of being.

  7. Duty to defend - Wikipedia

    en.wikipedia.org/wiki/Duty_to_defend

    The duty to defend is a contractual indemnitor or liability insurer's duty to defend the insured or indemnified party against claims. It is generally broader than the duty to indemnify and may cover defense against claims where ultimately no damage is awarded, and possibly even against claims that would not be covered by the duty to indemnify. [1]

  8. Profit motive - Wikipedia

    en.wikipedia.org/wiki/Profit_motive

    In economics, the profit motive is the motivation of firms that operate so as to maximize their profits.Mainstream microeconomic theory posits that the ultimate goal of a business is "to make money" - not in the sense of increasing the firm's stock of means of payment (which is usually kept to a necessary minimum because means of payment incur costs, i.e. interest or foregone yields), but in ...

  9. History of insurance - Wikipedia

    en.wikipedia.org/wiki/History_of_insurance

    The insurance industry helps to eliminate risks (as when fire-insurance providers demand the implementation of safe practices and the installation of hydrants), spreads risks from individuals to the larger community, and provides an important source of long-term finance for both the public and private sectors.