Insurance Overview

Insurance is a product that allows individuals and organizations to reassign their risk of loss to others. Insurance law covers the policies insurance companies can offer and the rates they can charge. States regulate the insurance industry with the backing of federal law.

There are dozens of kinds of insurance covering a wide range of risks, such as the risk of car accidents, accidental death, house damage, crop failure, or earthquakes. Businesses may have "key man" (insurance for losses that may occur when a key business person dies or is disabled), disability, or property insurance.

Disputes with insurance companies may be resolved out of court if the policy requires or allows it, but some disputes may require suing the insurance company. Insurance lawyers can determine if your insurer is treating you fairly and sue for you if the company is acting in bad faith.