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.
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