What is the name of your state (only U.S. law)? Texas
I am trying to find out the answer to a question regarding what constitutes insurance. The definition I have been given is indemnification based upon a contingency.
So if a company was in effect offering to pay the insured a certain amount of money if that insured lost his job, how would that be structured to avoid it being classified as insurance.
I am trying to find out the answer to a question regarding what constitutes insurance. The definition I have been given is indemnification based upon a contingency.
So if a company was in effect offering to pay the insured a certain amount of money if that insured lost his job, how would that be structured to avoid it being classified as insurance.