Samuel Tucker, Author at InsNerds.com

It Doesn’t Take an Underwriter To Say “No”…

Today’s guest article was written by Sam Tucker, CEO of Carrier Risk Solutions, Inc and was originally published on InsNerds.com “It takes an Underwriter to find a way!” This is one of the most memorable quotes that I ever heard from another insurance professional. The year was 2006 and I was a wet behind the ears … Read more

Definitioner

Umbrella

A promise to pay for things you broke that used up so much money that your carinsurance, home insurance or other insurance paid as much as they are allowed to. This is very important if you have nice things like a house and if you make more than $50,000 a year.

Agency

The company the agent works for.

Underwriter

The person who decides to accept or not accept your offer to pay a company for the promise that they will pay for things you break or lose.

Risk Management

The way we study how things can go wrong and try to lower the chances that they will go wrong.

Carrier (Insurer)

A company who promised to pay for big things you break or lose if you pay them a little money before it happened.

Risk

Chance of something changing either for better or worse.

Insurance

Paying a company a little money for the promise they will pay a lot of money for things we break or lose without meaning to.