Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Question
Name thee organizations whose performance affects or is impacted by the performance of Cigna insurance.
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Step 1
Insurance:-
The majority of individuals have insurance of some form, whether it is for their home, car, or life. But the majority of us seldom pause to consider what insurance is or how it functions.
Simply explained, insurance is a contract that is represented by a policy and offers financial protection or compensation from an insurance provider against losses to the policyholder. To make payments to the insured more tolerable, the corporation splits the risks of its customers.
Plans for insurance are made to protect against potential financial losses, large and small, that may result from harm to the insured or their property or from liability for harm or injury to a third party.
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- Define the following terms related to risk: • Risk avoidance • Risk reduction • Risk transfer • Risk retentionarrow_forwardIf an insured voluntarily gives up the life insurance contract, the policy is A) Foreclosed B) Lapsed C) on extended warranty D) reinstatedarrow_forwardWhat are the essential parts of a successful HIPAA Security Compliance Program?arrow_forward
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