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Insured Event
(redirected from Insured Events)

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Insured Event
Any event that would cause an insurer to pay a claim. For example, in car insurance, an insured event may be a car accident because it would cause the insurance company to compensate the policyholder for property damage and/or medical bills. Insurance companies base their premiums on the likelihood that an insured event may happen. For example, a younger driver may pay a higher premium than an adult because younger drivers may be statistically more likely to cause an accident.


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Insured events that may be covered include: death, diagnosis of a terminal illness, diagnosis of critical illness, disability due to ill health, permanent disability, accidental death.
The calendar year losses and LAE ratio includes changes made during the calendar year in reserves for losses and LAE established for insured events occurring in the current and prior periods.
In addition to providing the needed expertise for insured events and the financial resources that may be needed in the event of an insured event, these policies also provide peace of mind for those executives or employees asked to travel into foreign countries where kidnappings and extortion occur with regularity.
 
 
 
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