RMI 211 Exam 2 Review Correct Questions and Answers
Types of Private Insurers - ANSWER Stock Insurers Mutual Insurers Reciprocal exchanges Lloyd's of London Blue Cross Blue Shield plans Health maintenance organizations (HMOs) Stock Insurers - ANSWER Owned by Stockholders, publicly traded and goal is to profit shareholders Mutual Insurers - ANSWER Owned by policyholders, and goal is to be there for their policy holders Fraternal Insurer - ANSWER insures members of a private nonprofit organization (religious or social) Llyod's of London - ANSWER NOT an insurer, but a society of members who underwrite insurance in syndicates. reciprocal exchange - ANSWER An unincorporated group of individuals who mutually insure one another, each separately assuming a share of each risk. Blue Cross - ANSWER an insurance company that provides hospital care benefits. Blue Shield - ANSWER an insurance company that provides benefits for surgical and medical services performed by physicians. Captive Insurer - ANSWER an insurer owned by a parent
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