What is Group Life Insurance? Group life insurance is a type of life insurance in which a single contract covers an entire group of people. Typically, the policy owner is an employer or an entity such as a labor organization, and the policy covers the employees or members of the group. Group life insurance is often provided as part of a complete employee benefit package. In most cases, the cost of the group coverage is far less than what the employees or members would pay for a similar amount of individual protection. So, if you are offered group life insurance through your employer or another group, you should usually take it, especially if you have no other life insurance or if your...
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What Is Casualty Insurance Casualty insurance refers to the insurance component that primarily protects a person or business when held liable for their negligence. In other words, it covers the insured entity’s liabilities to others. It generally includes liability, vehicle, theft, and worker’s compensation insurance. You are free to use this image on your website, templates, etc., Please provide us with an attribution link How to Provide Attribution? Article Link to be Hyperlinked It offers protection from the risk of liabilities. For example, it protects if the insured are held accountable for the injuries or property damage to a third party. In addition, it compensates third...
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Case Summary COMPLAINT On July 7, 2004, M&S, along with co-counsel, initiated a ground-breaking class action lawsuit against John Hancock Life Insurance for its company-wide policy of rarely selling life insurance to African Americans in the early to mid-20th century. The named Plaintiff was an African American woman whose mother had purchased life insurance policies from John Hancock in the 1940s and 1950s. The lawsuit also confronted John Hancock’s practice of offering African Americans substandard and seriously inferior life insurance products when it did sell insurance to African Americans. The policies offered to African Americans are known as industrial or monthly debit policies...
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U.S. Supreme CourtHoffman v. John Hancock Mutual Life Insurance Company, 92 U.S. 161 (1875) Hoffman v. John Hancock Mutual Life Insurance Company An agreement between the agent of an insurance company and an applicant for insurance whereby the former, without authority from the company, accepted, by way of satisfaction of a premium payable in money, articles of personal property, is a fraud upon the company, and no valid contract against it arises therefrom. U.S. Supreme CourtHoffman v. John Hancock Mutual Life Insurance Company, 92 U.S. 161 (1875) Hoffman v. John Hancock Mutual Life Insurance Company APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE NORTHERN DISTRICT OF OHIO An...
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SUPERINTENDENT ADRIENNE A. HARRIS SECURES $21.6 MILLION FOR NEW YORKERS FOLLOWING LONG TERM CARE INSURANCE INVESTIGATION John Hancock to Return $21.6 Million to Consumers, Give Back $2.2 Million to the New York State Medicaid Program, and Pay Penalty of $2.5 Million for Violating the NY Insurance Law Adrienne A. Harris, Superintendent of Financial Services, announced today that John Hancock Life & Health Insurance Company’s (JH) will return $21,594,671 to consumers and/or their beneficiaries and $2,228,031 to the New York State Medicaid Program. JH will also pay a $2.5 million dollar penalty for violations of New York Insurance Law following a compliance review with state requirements...
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Auto-Owners Insurance is an insurance company that has been around for more than 100 years. The company offers several discounts and coverage options through more than 48,000 agents in 26 states. Auto-Owners Insurance uses a customer-centric approach with a focus on personalized experiences. This means its quote process is only available via an agent, which can be a downside for people looking to get a quick quote online. Learn more about the auto coverage you can get in this Auto-Owners Insurance review. Auto-Owners Insurance: Is it worth it? What is Auto-Owners Insurance? Auto-Owners Insurance is an insurance company founded in 1916 in Mount Pleasant, Michigan. Today, it’s headquartered...
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Happy Family Playing in Garden. Photo: Getty Images/Westend61 Auto-Owners Insurance is among the leading property and casualty insurance companies in the United States. It was founded in 1916 by Vern V. Moulton. The company is headquartered in Lansing, Michigan, and offers coverage in 26 states through 48,000 licensed, independent agents. Mr. Moulton started his insurance company in one room of a bank building. In the early days, the company wrote only automobile insurance. In the 1940s Auto-Owners Insurance entered the casualty insurance marketplace and began offering personal property and commercial casualty coverage, including homeowner’s insurance, life insurance, car insurance, and...
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