The major difference between government insurance and private insurance is that the government programs are funded with taxes and serve national and state social purposes, while private are funded by premiums.
That said, "government insurance" is probably a misnomer. Most forms of financial support funded by taxes might be characterized as welfare-type programs. This is because taxes are levied upon the general public to pay benefits far in excess of that which the recipent has paid into the system. A good example is Medicare. While it limits the amount paid to medical providers, there is no limit on how much can be paid on behalf of a consumer participating in the program. The finds to pay those benefits come from taxes, and hence, the working public.
Another significant difference is that private insurance providers must be and remain financially sound. This is accomplished by acuarially determined rates (from which premiums are derived). Actuarial soundnessis not a hallmark of government programs.
Nothing
LIC
a broker sells the insurance, (is a sales person for many companies generally) and insurance company is the actual company that 'owns' the product, or company it's self........
Two different companies may offer different home insurance packages for their employees. The difference between such packages is determined by the revenue of the company in question and the value of the employee for the company.
If you compare product to product, GE's premiums are higher
GAP insurance is coverage that covers the difference between the value of the vehicle at the time of the accident and the amount that is owed on the loan at the time of the accident. GAP insurance can be purchased from the finance company or from the persons insurance company. Usually it is much cheaper to get it from the insurance company.
There is no difference between second hand caravan insurance and first hand caravan insurance. Thus you can get the insurance from any insurance company that supplies caravan insurance.
429 is Government Employees Insurance Company
Government Employees Insurance COmpany It originally only sold insurance to employees of the US Federal Government.
No, there are no government-run insurance companies for auto insurance. Any auto insurance that you get will have to be through a private company.
An Insurance Broker has a duty of care to the client to secure the best deal on the market by 'broking' the insurance requirement out to all insurance companies who will accept the risk. An Agent of an Insurance Company works only for the Insurance Company concerned and thus the client will get a quote from only the insurance company the Agent represents .
The difference between employers liability and public liability are simple. Employer liability insurance covers only claims made by the employees against the company. Public liability covers claims against the company by the general public as well as third parties claims.