Question: Where did The Suebi migrate to?

Answer: Rhineland area of modern Germany,

At the time of the Roman Empire, the Baltic Sea was known as the Mare Suebicum or Mare Sarmaticum. Tacitus in his AD 98 Agricola and Germania described the Mare Suebicum, named for the Suebi tribe, during the spring months, as a brackish sea where the ice broke apart and chunks floated about. <hl> The Suebi eventually migrated south west to reside for a while in the Rhineland area of modern Germany, where their name survives in the historic region known as Swabia. <hl> Jordanes called it the Germanic Sea in his work, the Getica.

At the time of the Roman Empire, the Baltic Sea was known as the Mare Suebicum or Mare Sarmaticum. Tacitus in his AD 98 Agricola and Germania described the Mare Suebicum, named for the Suebi tribe, during the spring months, as a brackish sea where the ice broke apart and chunks floated about. The Suebi eventually migrated south west to reside for a while in the <hl> Rhineland area of modern Germany, <hl> where their name survives in the historic region known as Swabia. Jordanes called it the Germanic Sea in his work, the Getica.


Question: Tacitus described the Mare Suebicum sea as what during the spring months?

At the time of the Roman Empire, the Baltic Sea was known as the Mare Suebicum or Mare Sarmaticum. Tacitus in his AD 98 Agricola and Germania described the Mare Suebicum, named for the Suebi tribe, during the spring months, as a brackish sea where the ice broke apart and chunks floated about. The Suebi eventually migrated south west to reside for a while in the Rhineland area of modern Germany, where their name survives in the historic region known as Swabia. Jordanes called it the Germanic Sea in his work, the Getica.

Answer: brackish

At the time of the Roman Empire, the Baltic Sea was known as the Mare Suebicum or Mare Sarmaticum. <hl> Tacitus in his AD 98 Agricola and Germania described the Mare Suebicum, named for the Suebi tribe, during the spring months, as a brackish sea where the ice broke apart and chunks floated about. <hl> The Suebi eventually migrated south west to reside for a while in the Rhineland area of modern Germany, where their name survives in the historic region known as Swabia. Jordanes called it the Germanic Sea in his work, the Getica.

At the time of the Roman Empire, the Baltic Sea was known as the Mare Suebicum or Mare Sarmaticum. Tacitus in his AD 98 Agricola and Germania described the Mare Suebicum, named for the Suebi tribe, during the spring months, as a <hl> brackish <hl> sea where the ice broke apart and chunks floated about. The Suebi eventually migrated south west to reside for a while in the Rhineland area of modern Germany, where their name survives in the historic region known as Swabia. Jordanes called it the Germanic Sea in his work, the Getica.


Question: What shore of the Baltic's was among the last in Europe to be converted to Christianity?

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

Answer: eastern shore

<hl> The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. <hl> This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

The lands on the Baltic's <hl> eastern shore <hl> were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.


Question: During what major event was the Baltic completely converted to Christianity?

Answer: Northern Crusades

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. <hl> This finally happened during the Northern Crusades : Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). <hl> The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the <hl> Northern Crusades <hl>: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

This finally happened during the <hl> Northern Crusades <hl> : Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword).


Question: Who gained control over parts of the south and east shore of the Baltic Sea?

Answer: The Teutonic Order

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). <hl> The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. <hl> Lithuania was the last European state to convert to Christianity.

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). <hl> The Teutonic Order <hl> gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.


Question: Which country was the last European State to convert to Christianity?

Answer: Lithuania

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. <hl> Lithuania was the last European state to convert to Christianity. <hl>

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. <hl> Lithuania <hl> was the last European state to convert to Christianity.


Question: Who converted Finland to Christianity in the twelfth century?

Answer: Swedes

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. <hl> This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes , and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). <hl> The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by <hl> Swedes <hl>, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

This finally happened during the Northern Crusades: Finland in the twelfth century by <hl> Swedes <hl> , and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword).


Question: What shore of the Baltic's was among the last in Europe to be converted to Christianity?

Answer: eastern shore

<hl> The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. <hl> This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

The lands on the Baltic's <hl> eastern shore <hl> were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.


Question: During what major event was the Baltic completely converted to Christianity?

Answer: Northern Crusades

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. <hl> This finally happened during the Northern Crusades : Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). <hl> The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the <hl> Northern Crusades <hl>: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

This finally happened during the <hl> Northern Crusades <hl> : Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword).


Question: Who gained control over parts of the south and east shore of the Baltic Sea?

Answer: The Teutonic Order

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). <hl> The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. <hl> Lithuania was the last European state to convert to Christianity.

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). <hl> The Teutonic Order <hl> gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.


Question: Which country was the last European State to convert to Christianity?

Answer: Lithuania

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. <hl> Lithuania was the last European state to convert to Christianity. <hl>

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. <hl> Lithuania <hl> was the last European state to convert to Christianity.


Question: Who converted Finland to Christianity in the twelfth century?

Answer: Swedes

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. <hl> This finally happened during the Northern Crusades: Finland in the twelfth century by Swedes , and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). <hl> The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

The lands on the Baltic's eastern shore were among the last in Europe to be converted to Christianity. This finally happened during the Northern Crusades: Finland in the twelfth century by <hl> Swedes <hl>, and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword). The Teutonic Order gained control over parts of the southern and eastern shore of the Baltic Sea, where they set up their monastic state. Lithuania was the last European state to convert to Christianity.

This finally happened during the Northern Crusades: Finland in the twelfth century by <hl> Swedes <hl> , and what are now Estonia and Latvia in the early thirteenth century by Danes and Germans (Livonian Brothers of the Sword).


Question: Who was the strongest economic force in Northern Europe between the 13th and 17 centuries?

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.

Answer: Hanseatic League

<hl> In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League , a federation of merchant cities around the Baltic Sea and the North Sea. <hl> In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the <hl> Hanseatic League <hl>, a federation of merchant cities around the Baltic Sea and the North Sea. In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the <hl> Hanseatic League <hl> , a federation of merchant cities around the Baltic Sea and the North Sea.


Question: What does Dominium maris baltici mean?

Answer: Lordship over the Baltic Sea

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. <hl> In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici (" Lordship over the Baltic Sea "). <hl> Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici ("<hl> Lordship over the Baltic Sea <hl>"). Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.

In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici (" <hl> Lordship over the Baltic Sea <hl> ").


Question: Which 3 countries fought wars over control over the Baltic Sea in the 16th and 17 centuries?

Answer: Poland, Denmark, and Sweden

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. <hl> In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). <hl> Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. In the sixteenth and early seventeenth centuries, <hl> Poland, Denmark, and Sweden <hl> fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.


Question: Which country almost entirely controlled the Baltic Sea?

Answer: Sweden

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. <hl> In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). <hl> Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. In the sixteenth and early seventeenth centuries, Poland, Denmark, and <hl> Sweden <hl> fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland.


Question: What area of the Baltic Sea in Latvia did Sweden not control?

Answer: Riga

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). <hl> Something that was accomplishes except the rout between Riga in Latvia and Szczecin in Poland. <hl>

In the 13th to 17th centuries, the strongest economic force in Northern Europe was the Hanseatic League, a federation of merchant cities around the Baltic Sea and the North Sea. In the sixteenth and early seventeenth centuries, Poland, Denmark, and Sweden fought wars for Dominium maris baltici ("Lordship over the Baltic Sea"). Eventually, it was Sweden that virtually encompassed the Baltic Sea. In Sweden the sea was then referred to as Mare Nostrum Balticum ("Our Baltic Sea"). The goal of Swedish warfare during the 17th century was to make the Baltic Sea an all-Swedish sea (Ett Svenskt innanhav). Something that was accomplishes except the rout between <hl> Riga <hl> in Latvia and Szczecin in Poland.


Question: What type of agencies work for the insurance industry?

Various associations, government agencies, and companies serve the insurance industry in the United States. The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. Many insurance providers use the Insurance Services Office, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions.

Answer: government

<hl> Various associations, government agencies, and companies serve the insurance industry in the United States. <hl> The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. Many insurance providers use the Insurance Services Office, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions.

Various associations, <hl> government <hl> agencies, and companies serve the insurance industry in the United States. The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. Many insurance providers use the Insurance Services Office, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions.


Question: Who is responsible for standardizing insurance laws?

Answer: The National Association of Insurance Commissioners

Various associations, government agencies, and companies serve the insurance industry in the United States. <hl> The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. <hl> Many insurance providers use the Insurance Services Office, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions.

Various associations, government agencies, and companies serve the insurance industry in the United States. <hl> The National Association of Insurance Commissioners <hl> provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. Many insurance providers use the Insurance Services Office, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions.


Question: Who would need to use the Insurance Services Office?

Answer: insurance providers

Various associations, government agencies, and companies serve the insurance industry in the United States. The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. <hl> Many insurance providers use the Insurance Services Office, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions. <hl>

Various associations, government agencies, and companies serve the insurance industry in the United States. The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. Many <hl> insurance providers <hl> use the Insurance Services Office, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions.


Question: What does the Insurance Services Office create?

Answer: standard policy forms and rating loss costs

Various associations, government agencies, and companies serve the insurance industry in the United States. The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. <hl> Many insurance providers use the Insurance Services Office, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions. <hl>

Various associations, government agencies, and companies serve the insurance industry in the United States. The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. Many insurance providers use the Insurance Services Office, which produces <hl> standard policy forms and rating loss costs <hl> and then submits these documents on the behalf of member insurers to the state insurance divisions.


Question: Who is responsible for submitting documents for member insurers?

Answer: Insurance Services Office

Various associations, government agencies, and companies serve the insurance industry in the United States. The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. <hl> Many insurance providers use the Insurance Services Office , which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions. <hl>

Various associations, government agencies, and companies serve the insurance industry in the United States. The National Association of Insurance Commissioners provides models for standard state insurance law, and provides services for its members, which are the state insurance divisions. Many insurance providers use the <hl> Insurance Services Office <hl>, which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions.

Many insurance providers use the <hl> Insurance Services Office <hl> , which produces standard policy forms and rating loss costs and then submits these documents on the behalf of member insurers to the state insurance divisions.


Question: What is taken away from the one insured?

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance.  The essence of insurance is the transfer of risk from the insured to one or more insurers.  How much risk a contract actually transfers proved to be at the heart of the controversy. This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s.  The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above.  While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.

Answer: insurance

<hl> In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. <hl> The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.

In recent years the operational definition of <hl> insurance <hl> presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.


Question: What was questioned in the controversy?

Answer: How much risk a contract actually transfers

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. <hl> How much risk a contract actually transfers proved to be at the heart of the controversy. <hl> This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. <hl> How much risk a contract actually transfers <hl> proved to be at the heart of the controversy. This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.


Question: What type of insurance raised the most issues?

Answer: reinsurance

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. <hl> This issue arose most clearly in reinsurance , where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. <hl> The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. This issue arose most clearly in <hl> reinsurance <hl>, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.

This issue arose most clearly in <hl> reinsurance <hl> , where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s.


Question: What type of sheets were popular in the 1980s?

Answer: insurer balance

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. <hl> This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. <hl> The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer <hl> insurer balance <hl> sheets under US GAAP became fashionable during the 1980s. The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.


Question: What was the name of the problematic guideline?

Answer: FAS 113

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. <hl> The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in FAS 113 , cited above. <hl> While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.

In recent years the operational definition of insurance presented at the beginning of this article proved inadequate as a result of contracts that had the form but not the substance of insurance. The essence of insurance is the transfer of risk from the insured to one or more insurers. How much risk a contract actually transfers proved to be at the heart of the controversy. This issue arose most clearly in reinsurance, where the use of Financial Reinsurance to reengineer insurer balance sheets under US GAAP became fashionable during the 1980s. The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in <hl> FAS 113 <hl>, cited above. While on its face, FAS 113 is limited to accounting for reinsurance transactions, the guidance it contains is generally conceded to be equally applicable to US GAAP accounting for insurance transactions executed by commercial enterprises.

The accounting profession raised serious concerns about the use of reinsurance in which little if any actual risk was transferred, and went on to address the issue in <hl> FAS 113 <hl> , cited above.


Question: Who published the SSAP?

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation.  Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes.  The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.

Answer: the National Association of Insurance Commissioners

<hl> Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners , applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation. <hl> Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.

Statement of Statutory Accounting Principles ("SSAP") 62, issued by <hl> the National Association of Insurance Commissioners <hl>, applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation. Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.

Statement of Statutory Accounting Principles ("SSAP") 62, issued by <hl> the National Association of Insurance Commissioners <hl> , applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation.


Question: What type of accounting does the SSAP cover?

Answer: statutory

<hl> Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called ' statutory accounting' – the accounting for insurance enterprises to conform with regulation. <hl> Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called '<hl> statutory <hl> accounting' – the accounting for insurance enterprises to conform with regulation. Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called ' <hl> statutory <hl> accounting' – the accounting for insurance enterprises to conform with regulation.


Question: What section of the SSAP is a near copy of the FAS 113 test?

Answer: Paragraph 12

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation. <hl> Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. <hl> The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation. <hl> Paragraph 12 <hl> of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.


Question: Paragraph 14 of the SSAP matches what paragraph of the FAS 113?

Answer: 10

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation. <hl> Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. <hl> The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation. Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph <hl> 10 <hl> of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment.


Question: What is still left up to the user's judgement under the SSAP?

Answer: discount rate

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation. Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. <hl> The choice of an "reasonable and appropriate" discount rate is left as a matter of judgment. <hl>

Statement of Statutory Accounting Principles ("SSAP") 62, issued by the National Association of Insurance Commissioners, applies to so-called 'statutory accounting' – the accounting for insurance enterprises to conform with regulation. Paragraph 12 of SSAP 62 is nearly identical to the FAS 113 test, while paragraph 14, which is otherwise very similar to paragraph 10 of FAS 113, additionally contains a justification for the use of a single fixed rate for discounting purposes. The choice of an "reasonable and appropriate" <hl> discount rate <hl> is left as a matter of judgment.


Question: What did the FAS 113 and SAP 62 fail to define?

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater.  Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance.  Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.

Answer: reasonable or significant

<hl> Neither FAS 113 nor SAP 62 defines the terms reasonable or significant . <hl> Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.

Neither FAS 113 nor SAP 62 defines the terms <hl> reasonable or significant <hl>. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.

Neither FAS 113 nor SAP 62 defines the terms <hl> reasonable or significant <hl> .


Question: What percent chance is enough to be considered significant for a 10 percent loss?

Answer: 10

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. <hl> Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. <hl> Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a <hl> 10 <hl> percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.


Question: Who suggested a 10 percent chance of a 10 percent loss?

Answer: an SEC official

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. <hl> Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. <hl> Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. Such tests have been proposed, including one famously attributed to <hl> an SEC official <hl> who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.


Question: What meal was occurring when the 10/10 test was suggested?

Answer: lunch

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. <hl> Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. <hl> Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after <hl> lunch <hl> talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. Indeed, many insurers and reinsurers still apply this "10/10" test as a benchmark for risk transfer testing.


Question: What is shortened name for the iconic test for risk transfer?

Answer: 10/10

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. <hl> Indeed, many insurers and reinsurers still apply this " 10/10 " test as a benchmark for risk transfer testing. <hl>

Neither FAS 113 nor SAP 62 defines the terms reasonable or significant. Ideally, one would like to be able to substitute values for both terms. It would be much simpler if one could apply a test of an X percent chance of a loss of Y percent or greater. Such tests have been proposed, including one famously attributed to an SEC official who is said to have opined in an after lunch talk that at least a 10 percent chance of at least a 10 percent loss was sufficient to establish both reasonableness and significance. Indeed, many insurers and reinsurers still apply this "<hl> 10/10 <hl>" test as a benchmark for risk transfer testing.

Indeed, many insurers and reinsurers still apply this " <hl> 10/10 <hl> " test as a benchmark for risk transfer testing.


Question: What contracts are used for umbrella insurance?

Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio  of premium paid to maximum loss recoverable.   This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer.  As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

Answer: Excess of loss

<hl> Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. <hl> This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer. As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

<hl> Excess of loss <hl> contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer. As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.


Question: What type of insurance uses similar contracts to umbrella insurance?

Answer: liability

<hl> Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. <hl> This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer. As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

Excess of loss contracts, like those commonly used for umbrella and general <hl> liability <hl> insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer. As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.


Question: How are ratios typically expressed?

Answer: as a percentage

Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. <hl> This ratio (expressed as a percentage ), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer. <hl> As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. This ratio (expressed <hl> as a percentage <hl>), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer. As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

This ratio (expressed <hl> as a percentage <hl> ), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer.


Question: What is the colloquial phrase used to refer to the ratio?

Answer: rate on line

Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. <hl> This ratio (expressed as a percentage), commonly called the " rate on line " for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer. <hl> As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. This ratio (expressed as a percentage), commonly called the "<hl> rate on line <hl>" for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer. As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

This ratio (expressed as a percentage), commonly called the " <hl> rate on line <hl> " for historical reasons related to underwriting practices at Lloyd's of London, will typically be low for contracts that contain reasonably self-evident risk transfer.


Question: Where was Lloyd's located?

Answer: London

Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. <hl> This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of London , will typically be low for contracts that contain reasonably self-evident risk transfer. <hl> As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

Excess of loss contracts, like those commonly used for umbrella and general liability insurance, or to insure against property losses, will typically have a low ratio of premium paid to maximum loss recoverable. This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of <hl> London <hl>, will typically be low for contracts that contain reasonably self-evident risk transfer. As the ratio increases to approximate the present value of the limit of coverage, self-evidence decreases and disappears.

This ratio (expressed as a percentage), commonly called the "rate on line" for historical reasons related to underwriting practices at Lloyd's of <hl> London <hl> , will typically be low for contracts that contain reasonably self-evident risk transfer.


Question: What type of clause should contracts have?

The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties.  Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties.  If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance.

Answer: Entire Agreement

The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. <hl> Ideally, the contract should contain an ' Entire Agreement ' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. <hl> If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance.

The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. Ideally, the contract should contain an '<hl> Entire Agreement <hl>' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance.

Ideally, the contract should contain an ' <hl> Entire Agreement <hl> ' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties.


Question: Besides written, what type of side agreement might occur?

Answer: oral

<hl> The contract should be considered to include any other agreements, written or oral , that confer rights, create obligations, or create benefits on the part of either or both parties. <hl> Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance.

The contract should be considered to include any other agreements, written or <hl> oral <hl>, that confer rights, create obligations, or create benefits on the part of either or both parties. Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance.

The contract should be considered to include any other agreements, written or <hl> oral <hl> , that confer rights, create obligations, or create benefits on the part of either or both parties.


Question: What must always be factored into a test?

Answer: rights, obligations or benefits

The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. <hl> If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance. <hl>

The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. If such <hl> rights, obligations or benefits <hl> exist, they must be factored into the tests of reasonableness and significance.


Question: What document includes all obligations, rights, and benefits between parties?

Answer: contract

<hl> The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. <hl> Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance.

The <hl> contract <hl> should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance.


Question: What do the tests of contracts measure?

Answer: reasonableness and significance

The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. <hl> If such rights, obligations or benefits exist, they must be factored into the tests of reasonableness and significance . <hl>

The contract should be considered to include any other agreements, written or oral, that confer rights, create obligations, or create benefits on the part of either or both parties. Ideally, the contract should contain an 'Entire Agreement' clause that assures there are no undisclosed written or oral side agreements that confer rights, create obligations, or create benefits on the part of either or both parties. If such rights, obligations or benefits exist, they must be factored into the tests of <hl> reasonableness and significance <hl>.

If such rights, obligations or benefits exist, they must be factored into the tests of <hl> reasonableness and significance <hl> .


Question: What are two examples of pieces of property?

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium).  For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss.  That agreement takes the form of an insurance policy.

Answer: a car or a house

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). <hl> For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house ) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. <hl> That agreement takes the form of an insurance policy.

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., <hl> a car or a house <hl>) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.

For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., <hl> a car or a house <hl> ) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss.


Question: What is another name for an insurance fee?

Answer: insurance premium

<hl> Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium ) <hl> . For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the <hl> insurance premium <hl>). For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the <hl> insurance premium <hl> )


Question: What are individuals or entities that have an insurance policy called?

Answer: the insured, the policyholder or a beneficiary

<hl> Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party ( the insured, the policyholder or a beneficiary ) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). <hl> For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (<hl> the insured, the policyholder or a beneficiary <hl>) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party ( <hl> the insured, the policyholder or a beneficiary <hl> ) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium).


Question: What is the official name for an agreement between the insurance company and the policyholder?

Answer: insurance policy

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. <hl> That agreement takes the form of an insurance policy . <hl>

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (the insurance premium). For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an <hl> insurance policy <hl>.

That agreement takes the form of an <hl> insurance policy <hl> .


Question: What is the name for the cost associated with an insurance policy?

Answer: the insurance premium

<hl> Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee ( the insurance premium ) <hl> . For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee (<hl> the insurance premium <hl>). For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss. That agreement takes the form of an insurance policy.

Insurance, generally, is a contract in which the insurer (stock insurance company, mutual insurance company, reciprocal, or Lloyd's syndicate, for example), agrees to compensate or indemnify another party (the insured, the policyholder or a beneficiary) for specified loss or damage to a specified thing (e.g., an item, property or life) from certain perils or risks in exchange for a fee ( <hl> the insurance premium <hl> )


Question: When did the first insurance company in the US come into existence?

The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in 1735.  In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation.  Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

Answer: 1735

<hl> The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in 1735 . <hl> In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in <hl> 1735 <hl>. In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in <hl> 1735 <hl> .


Question: In what city was the first insurance company in the US founded?

Answer: Charleston

<hl> The first insurance company in the United States underwrote fire insurance and was formed in Charleston , South Carolina, in 1735. <hl> In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

The first insurance company in the United States underwrote fire insurance and was formed in <hl> Charleston <hl>, South Carolina, in 1735. In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

The first insurance company in the United States underwrote fire insurance and was formed in <hl> Charleston <hl> , South Carolina, in 1735.


Question: In what state was the first insurance company in the US founded?

Answer: South Carolina

<hl> The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina , in 1735. <hl> In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

The first insurance company in the United States underwrote fire insurance and was formed in Charleston, <hl> South Carolina <hl>, in 1735. In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

The first insurance company in the United States underwrote fire insurance and was formed in Charleston, <hl> South Carolina <hl> , in 1735.


Question: What area of insurance was the first insurance company in the US responsible for?

Answer: fire insurance

<hl> The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in 1735. <hl> In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

The first insurance company in the United States underwrote <hl> fire insurance <hl> and was formed in Charleston, South Carolina, in 1735. In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]


Question: What was the name of the organization which Benjamin Franklin was associated with?

Answer: the Philadelphia Contributionship

The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in 1735. <hl> In 1752, Benjamin Franklin helped form a mutual insurance company called the Philadelphia Contributionship , which is the nation's oldest insurance carrier still in operation. <hl> Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

The first insurance company in the United States underwrote fire insurance and was formed in Charleston, South Carolina, in 1735. In 1752, Benjamin Franklin helped form a mutual insurance company called <hl> the Philadelphia Contributionship <hl>, which is the nation's oldest insurance carrier still in operation. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.[citation needed]

In 1752, Benjamin Franklin helped form a mutual insurance company called <hl> the Philadelphia Contributionship <hl> , which is the nation's oldest insurance carrier still in operation.


Question: When did the first stock insurance company in the US come into existence?

The first stock insurance company formed in the United States was the Insurance Company of North America in 1792. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.

Answer: 1792

<hl> The first stock insurance company formed in the United States was the Insurance Company of North America in 1792 . <hl> Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.

The first stock insurance company formed in the United States was the Insurance Company of North America in <hl> 1792 <hl>. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.

The first stock insurance company formed in the United States was the Insurance Company of North America in <hl> 1792 <hl> .


Question: What was the name of the first stock insurance company in the US?

Answer: Insurance Company of North America

<hl> The first stock insurance company formed in the United States was the Insurance Company of North America in 1792. <hl> Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.

The first stock insurance company formed in the United States was the <hl> Insurance Company of North America <hl> in 1792. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.


Question: What position was first appointed in New Hampshire in 1851?

Answer: state commissioner of insurance

The first stock insurance company formed in the United States was the Insurance Company of North America in 1792. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. <hl> Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. <hl> In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.

The first stock insurance company formed in the United States was the Insurance Company of North America in 1792. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. Formal regulation of the insurance industry began in earnest when the first <hl> state commissioner of insurance <hl> was appointed in New Hampshire in 1851. In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.


Question: What started with the appointing of the first state commissioner of insurance in 1851?

Answer: Formal regulation of the insurance industry

The first stock insurance company formed in the United States was the Insurance Company of North America in 1792. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. <hl> Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. <hl> In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.

The first stock insurance company formed in the United States was the Insurance Company of North America in 1792. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. <hl> Formal regulation of the insurance industry <hl> began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.


Question: Who appointed a state commissioner of insurance first, New Hampshire or New York?

Answer: New Hampshire

The first stock insurance company formed in the United States was the Insurance Company of North America in 1792. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. <hl> Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. <hl> In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.

The first stock insurance company formed in the United States was the Insurance Company of North America in 1792. Massachusetts enacted the first state law requiring insurance companies to maintain adequate reserves in 1837. Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in <hl> New Hampshire <hl> in 1851. In 1869, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.


Question: What were insurance companies in large part not allowed to do prior to the 1950s?

Insurance and the insurance industry has grown, diversified and developed significantly ever since.  Insurance companies were, in large part, prohibited from writing more than one line of insurance until laws began to permit multi-line charters in the 1950s.  From an industry dominated by small, local, single-line mutual companies and member societies, the business of insurance has grown increasingly towards multi-line, multi-state and even multi-national insurance conglomerates and holding companies.

Answer: writing more than one line of insurance

Insurance and the insurance industry has grown, diversified and developed significantly ever since. <hl> Insurance companies were, in large part, prohibited from writing more than one line of insurance until laws began to permit multi-line charters in the 1950s. <hl> From an industry dominated by small, local, single-line mutual companies and member societies, the business of insurance has grown increasingly towards multi-line, multi-state and even multi-national insurance conglomerates and holding companies.

Insurance and the insurance industry has grown, diversified and developed significantly ever since. Insurance companies were, in large part, prohibited from <hl> writing more than one line of insurance <hl> until laws began to permit multi-line charters in the 1950s. From an industry dominated by small, local, single-line mutual companies and member societies, the business of insurance has grown increasingly towards multi-line, multi-state and even multi-national insurance conglomerates and holding companies.