What Does Insurance Exchange Mean?
You can define Insurance Exchange as, Companies that provide a market for insurance coverage are usually not available elsewhere for extraordinary or extraordinary risks. Unlike insurance companies, insurance exchanges do not buy insurance coverage. Rather, they are non-profit organizations that oversee their members or registered unions. In this way, Grants receive awards, issue policies, process claims, monitor underwriters and monitor their credibility. Lloyds of London is the world's leading insurance exchange. INEX (formerly Illinois Insurance Exchange) is the largest and only insurance exchange in the United States.
Insurance Exchange is an insurance market that is widely used in health insurance.
After signing the Affordable Care Act, President Obama created an insurance exchange where people can choose between the rates offered by state governments, the federal government or private insurance companies. Insurance exchanges should encourage competition.
Literal Meanings of Insurance Exchange
Meanings of Insurance:
The process or arrangement in which a company or government agency guarantees compensation for some loss, injury, illness or death in exchange for premium payments.
Anything that provides protection against possible emergencies.
Sentences of Insurance
Meeting the highest standards of personal conduct is the best guarantee against personal problems.
Synonyms of Insurance
indemnification, defence, protection, shelter, safeguard, preventive measure, cover, precaution, provision, surety, financial protection, security, immunity, safety measure, indemnity
Meanings of Exchange:
The act of giving one thing in return and receiving another (especially of the same type or price).
Sentences of Exchange
Negotiations led to the exchange of land for peace.
Synonyms of Exchange
barter, interchange, traffic, giving and taking, trade, swapping, switch, trafficking, bandying, trade-off, trading, reciprocity, swap, change