The social security system in the USA is complex and diverse. There is no single nationwide centralized social security system in the United States. It is formed from various programs regulated either by federal or state law, or jointly by federal and state authorities. Separate programs are also accepted by local authorities. The state social security system in the United States is clearly divided into two areas: social insurance and social assistance. They differ in terms of funding sources. Social insurance payments are made from insurance funds formed from the social insurance tax that is levied on workers (in the proportion of entrepreneurs). State aid is paid from the budget:Read More →

Insurance is one of the oldest categories of social and industrial relations. In the US, the insurance system is widely developed. Insurance is carried out by numerous insurance companies (there are several thousand of them in the USA), and the types of insurance services are extremely diverse. Analysis of the US insurance market is quite relevant and is of scientific and practical interest. Describing the degree of scientific elaboration of the problems of the US insurance market, it should be noted that this topic has already been analyzed by various authors in various publications: textbooks, monographs, periodicals and on the Internet. However, in the study of literatureRead More →

Around the world, agents and brokers are the main sales channels for insurance products. In the US, middlemen discuss 95% of the market. For work with individuals, agent networks are most often used, and with corporate clients – brokers. Insurance agents act on behalf and on behalf of the insurer, and brokers act on their own behalf and on behalf of the insured and the insurer. The agent acts as a market participant on the supply side of insurance services, i.e. for him the interests of the insurer are priority, therefore, the activity of the agents is regulated, as a rule, not separately, but together with the insurers. AnRead More →

The US insurance market is the most developed insurance market in the world. On the general background stands out personal insurance, which has received a sustainable development. It includes life insurance, rent or pension insurance, and health and accident insurance. Life insurance in the United States has existed since 1830. Now life insurance is a strategically important industry that provides investment in the economy and the solution of social problems of society. Life insurance has long been no longer just an inventory, thanks to which people can save money, make a profit from investments, secure pensions and medical services. Life insurance has become a specific industry, aimed at aRead More →

The American insurance business has a huge scope and leads the global insurance market in all possible indicators. I would like to remind you that it was in the USA that life insurance appeared. Here, in 1699, a professional organization dealing with the life insurance of widows and orphans first appeared, and then the Eckvatedl insurance company was created for the personal insurance of citizens. From the initial types of insurance – marine, fire and life insurance – gradually grew a wide range of different areas of insurance. In the conditions of a modern society with a developed market economy, there are practically no material objectsRead More →

In the US, there is a special legislative regulation of the insurance business. The fact is that each state has its own insurance legislation and its own regulatory body (supervision). There is no single federal law on insurance and a single federal body for the supervision of insurance activity. Each state makes its own requirements for the minimum level of capital, the types of insurance offered, conducts audits of controlled insurance companies, carries out general regulation of insurance activities by issuing licenses to brokers, agents and insurance companies themselves. Aliyev R.F. Insurance Regulation in the USA: Overview // Insurance. – 2000. №5. – p.18-34 Insurance supervisors in the United States focus onRead More →

In the USA, the first insurers, as independent legal entities created for insurance purposes, appeared in 1720. The period of the initial development of the United States in the field of insurance is associated with the emergence of a large number of one-day companies that have become bankrupt and sowed panic among consumers. This led to the decision of Parliament on the monopoly of insurance operations for insuring corporate interests by two insurers The London Assurance Corporation and The Royal Exchange Assurance Corporation, which carry out insurance operations in the United States today. To a large extent at that time, branches and insurers from the UK were engagedRead More →

For those who rent housing, renters insurance is intended, which is often mandatory, since its registration is required under the terms of the lease. And this is logical: insurance is an additional protection in unforeseen and undesirable cases that threaten the loss of property. Homeowners insurance is provided for homeowners insurance, and if housing is purchased through a mortgage, insurance may also be a requirement, only already emanating from the mortgage company. Home and real estate insurance is also an important component of the entire process of social adaptation and settlement in the United States. There are companies that insure the risks of a new buyer and provide insuranceRead More →

The American nation suffered a double seismic shock: two rather strong earthquakes struck the country this week. Moreover, seismic disturbances were noted in regions where such natural phenomena are recorded relatively rarely. The first earthquake was recorded in the night from Monday to Tuesday in the south-east of Colorado. The strength of the blows was about 5.8 points. The second earthquake, of magnitude 5.8, the epicenter of which was located in Virginia, occurred in the second half of the day on Tuesday. His tremors, in particular, felt the inhabitants of New York. In some cities in the state of Maryland, residents also noticed a strange screech, the fall of looseRead More →

For Americans, this type of property insurance is the second largest insurance premium collected; it is inferior only to automobile insurance. The total premium collection for 1997 (later data is not yet available) amounted to 29.14 billion dollars. In the US, insurance policies have a high degree of unification of insured risks. Across the country (with the exception of the state of Texas) there are only seven main types of policies. From these standard tools, an individual insurance is collected for a homeowner or tenant. Common additional conditions put forward by the policyholder are usually the inflation requirement, which gives a certain increase in the cost of the policy,Read More →