https://wikimd.org/index.php?action=history&feed=atom&title=Insurance_in_the_United_States 2026-04-30T11:16:00Z Revision history for this page on the wiki MediaWiki 1.44.2 https://wikimd.org/index.php?title=Insurance_in_the_United_States&diff=5331899&oldid=prev 2024-02-29T05:27:21Z

<p>CSV import</p> <p><b>New page</b></p><div>&#039;&#039;&#039;Insurance in the United States&#039;&#039;&#039; refers to the market for risk in the United States of America. Insurance, generally, is a contract in which the insurer agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., a property or life) from certain perils or risks in exchange for a fee (the insurance premium). For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.<br /> <br /> ==History==<br /> The first insurance company in the U.S. dates back to colonial days: The Philadelphia Contributionship, co-founded by [[Benjamin Franklin]] in 1752. The industry consolidated more and more, with fewer insurance companies existing each year, a phenomenon known as consolidation.<br /> <br /> ==Types of insurance==<br /> Insurance in the United States can be broadly divided into two categories: [[Life insurance]] and [[General insurance]].<br /> <br /> ===Life insurance===<br /> Life insurance provides a monetary benefit to a decedent&#039;s family or other designated beneficiary, and may specifically provide for income to an insured person&#039;s family, burial, funeral and other final expenses.<br /> <br /> ===General insurance===<br /> General insurance covers insurance of property against fire, burglary, theft; personal insurance covering health, travel and accidents; and liability insurance covering legal liabilities.<br /> <br /> ==Regulation==<br /> Insurance in the United States is regulated by the states under the [[McCarran-Ferguson Act]], with &quot;periodic proposals for federal intervention&quot;, and a nonprofit coalition of state insurance agencies called the [[National Association of Insurance Commissioners]] works to harmonize the country&#039;s different laws and regulations.<br /> <br /> ==See also==<br /> * [[Insurance law]]<br /> * [[Insurance Commissioner]]<br /> * [[Insurance policy]]<br /> * [[Insurance premium]]<br /> * [[Insurance claim]]<br /> <br /> [[Category:Insurance in the United States]]<br /> [[Category:Financial services in the United States]]<br /> {{US-business-stub}}<br /> {{finance-stub}}</div>

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