Word: guaranteeeing
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Claims on these policies get paid from the firm's general account--the place your premiums go. As long as the company is solvent, things work normally. But let's assume a worst-case scenario: a state regulator steps in, can't get the firm back on track and decides...
For policies like homeowners' and auto insurance, there's a separate state guarantee fund that will be tapped in a worst-case scenario, like what's outlined at left. Again, limits vary by state, but in many cases you'll be covered up to $300,000. For property and casualty...
So let's assume, repeat, assume, a bankruptcy that leads to liquidation. AIG would pay off as many of its claims as it could. (The good news is that as a policyholder, you're ahead of almost everyone else in line to get paid, including bondholders) If AIG's assets...
Each state runs guarantee funds for insurance policies, similar to what the Federal Deposit Insurance Corp. does for bank deposits. Every state differs in what they guarantee, but most states set basic limits of $300,000 in life insurance death benefits, $100,000 in cash surrender or withdrawal value for...
Still, whizzy schemes to connect millions of Africans can't guarantee users access to the services they need the most. Most of the $23 billion poured into sub-Saharan Africa's information and communication technology (ICT) infrastructure between 1996 and 2006 came from the private sector. In one sense, that...