Likewise, the government provides health services for those unable to afford private health insurance. On the other hand, property and liability insurance comes in a wide variety of forms. It includes all of the different kinds of insurance that protect people from financial loss if their property is destroyed, damaged, or stolen. It also includes all forms of liability insurance-the insurance that protects people from financial loss if they are responsible for injury to another person or damage to another person's property.
Within the ambit of insurance jobs, the agent has to define properly the terms and conditions of the insurance contract, especially on the liabilities of the insurer on property insurance in case of loss or destructions. Within the property and liability field, there are several specialized branches, or “lines” of insurance. Some companies write all lines, while others write only one. In addition to insurance on homes, business, places, automobiles, and personal property, this field includes marine insurance, which covers boats and ships and their cargoes, and inland marine insurance, which covers almost anything capable of being transported or which is used in transportation. Inland marine insurance covers everything from furs and paintings to locomotives and bridges. Also included in the property and liability field is worker's compensation insurance, which pays a person for loss of wages and medical expenses if he or she is disabled because of an injury or illness connected with a job. Worker's compensation also provides death benefits for dependents if death is due to a work-connected injury or illness. Fidelity bonds, which guarantee that contracts will be carried out properly and liability companies.
Insurance careers of the agents and brokers deal constantly with the public with claims job in insurance transaction.. In addition to selling insurance policies, they are responsible for advising each client about the particular kinds and amounts of insurance that will meet the client's individual needs. In some cases, they also help settle claims when a loss occurs by working out a payment agreeable both to the policyholder and the insurance company. Agents who sell certain types of life insurance may also collect premiums. As to insurance employment, some agents are employed by a single insurance company and are paid either a salary, commission, or combination of both. Note that commissions are a percentage of the premiums paid to the agent based on the value of the policies of an agent sells. Many other agents are independent businesspeople who are under contract to represent several companies. Insurance brokers, on the other hand are independent business people who represent no particular companies but who may order policies from many. In other respects, the broker's work is the same as the agent's. they both are paid commissions on the policies they sell. Like the insurance companies they represent, agents and brokers often specialize either in life insurance, health insurance, or property and liability insurance. Some specialize still further and handle only one line of liability insurance, such as automobile coverage. Others may handle a diversified firm's entire range of business.
Agents who deal with insurance sales jobs may work in large offices with a number of other agents or in small one-person agencies. Some work out their homes. Many agents combine their insurance business with other types of business; it is not uncommon, for example, for a property insurance agent to be in the real estate business, too. In addition to selling and performing services for their clients, insurance agents spend considerable time on paperwork, record keeping, and correspondence. Depending on the size of the agency, an agent may also supervise a number of clerical workers and sometimes a staff of salespeople.
Furthermore, since an agent's insurance career income depends on the amount of insurance policies he or she sells, the agent devotes a lot of effort to finding new who might buy insurance. This frequently involves considerable activity in civic and social affairs. Large insurance companies that use independent agents and brokers hire field representatives to promote their line of insurance. Field representatives make regular calls on each agent in their territory who handles their company's insurance job, including life insurance jobs. They instruct the agents on new types of insurance and changes in old policies. They help find new business and assist programs to make sure the clients have the right kind of coverage in sufficient amounts. Furthermore, they encourage the agents to conduct vigorous sale campaigns for a successful insurance transactions.