Group insurance


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Group insurance

Insurance coverage for a group, which can usually be obtained at a cheaper rate than insurance for an individual.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Group Insurance

Insurance provided to a whole number of people who negotiate collectively. Group insurance is thought to provide better insurance at a lower rate to members of the group because the insurer is able to spread its risk over a larger number of people that it otherwise would be able to do. Unions and other trade groups often procure group insurance policies.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
'It is my great pleasure to promote Leston into this new role,' Jamie Kalamarides, president of Prudential Group Insurance, said.
I just hope that the BIR will consider the justifications submitted to it by various sectors in excluding all types of payments for group insurance, including payments to HMOs, from the coverage of the tax.
Thousands of employees who served more than 35 to 40 years in different departments of government of Sindh and their deduction of group insurance was made from their salaries, at the time of their retirement, they were not paid single rupee of group insurance except those who died during the service due to restrictions and agreement made with insurance company causing inferiority and deprivation among the thousands of employees of Sindh government.
Managing Director Benevolent Fund and Group Insurance Shahbir Ahmed said the amount was invested according the provisions of State Bank of Pakistan.
Under one of the charges it has levied a penalty of Rs 25 lakh stating that "group insurance policies death claims are settled in favour of the master policy holder as against the beneficiaries...
Steve Pelletier, currently CEO of group insurance, will be promoted to executive vice president and take over U.S.
New group insurance sales premiums fell to $73 million, from $75 million.
The Protector Group Insurance Agency Inc., one of New England's largest independent insurance agencies, demonstrates its ever-expanding focus on the New England region through its newest office in Nashua, New Hampshire.
One of the state's largest insurance agencies, Brown-Hiller-Clark & Associates of Fort Smith, has acquired another insurance agency in town, Group Insurance Consultants of Fort Smith Inc.
Although he had been in the inactive reserves, he was called back during the Korean Conflict, having been trained in close air support, which interrupted his career in group insurance sales in south Florida.
The number of employees plays a significant role in determining whether or not group insurance is an option.
Washington Trust, a division of The Washington Trust Company, and a subsidiary of Washington Trust Bancorp Inc (NASDAQ: WASH), has appointed Ann M Nagle as vice president, trust officer of the Wealth Management area's new Group Insurance Trust division.

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