{"id":418,"date":"2024-01-26T01:57:15","date_gmt":"2024-01-26T01:57:15","guid":{"rendered":"https:\/\/consultant.webmarketingcorps.com\/?page_id=418"},"modified":"2024-02-01T02:45:09","modified_gmt":"2024-02-01T02:45:09","slug":"r","status":"publish","type":"page","link":"https:\/\/memoinsurance.com\/es\/insurance-glossary\/r\/","title":{"rendered":"R"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"418\" class=\"elementor elementor-418\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-740936c e-flex e-con-boxed e-con e-parent\" data-id=\"740936c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7f741325 e-flex e-con-boxed e-con e-parent\" data-id=\"7f741325\" data-element_type=\"container\" data-settings=\"{&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c472ffe elementor-widget elementor-widget-text-editor\" data-id=\"4c472ffe\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.21.0 - 30-04-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\tInsurance terms and definitions from Memo Insurance Service.\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52430291 elementor-widget elementor-widget-text-editor\" data-id=\"52430291\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge.\u00a0<a href=\"https:\/\/memoinsurance.com\/es\/contact.aspx\/\" data-ada-original-font-size=\"13\" data-ada-original-font-weight=\"400\">Contact Memo Insurance Service<\/a>\u00a0today to learn more.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-53bd415 elementor-nav-menu--dropdown-none elementor-widget elementor-widget-nav-menu\" data-id=\"53bd415\" data-element_type=\"widget\" data-settings=\"{&quot;layout&quot;:&quot;horizontal&quot;,&quot;submenu_icon&quot;:{&quot;value&quot;:&quot;&lt;svg class=\\&quot;e-font-icon-svg e-fas-caret-down\\&quot; viewBox=\\&quot;0 0 320 512\\&quot; xmlns=\\&quot;http:\\\/\\\/www.w3.org\\\/2000\\\/svg\\&quot;&gt;&lt;path d=\\&quot;M31.3 192h257.3c17.8 0 26.7 21.5 14.1 34.1L174.1 354.8c-7.8 7.8-20.5 7.8-28.3 0L17.2 226.1C4.6 213.5 13.5 192 31.3 192z\\&quot;&gt;&lt;\\\/path&gt;&lt;\\\/svg&gt;&quot;,&quot;library&quot;:&quot;fa-solid&quot;},&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"nav-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/memoinsurance.com\/wp-content\/plugins\/elementor-pro\/assets\/css\/widget-nav-menu.min.css\">\t\t\t<nav class=\"elementor-nav-menu--main elementor-nav-menu__container elementor-nav-menu--layout-horizontal e--pointer-none\">\n\t\t\t\t<ul id=\"menu-1-53bd415\" class=\"elementor-nav-menu\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-562\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/a\/\" class=\"elementor-item\">A<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-563\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/b\/\" class=\"elementor-item\">B<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-564\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/c\/\" class=\"elementor-item\">C<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-565\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/d\/\" class=\"elementor-item\">D<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-566\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/e\/\" class=\"elementor-item\">E<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-567\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/f\/\" class=\"elementor-item\">F<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-568\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/g\/\" class=\"elementor-item\">G<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-569\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/h\/\" class=\"elementor-item\">H<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-570\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/i\/\" class=\"elementor-item\">I<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-571\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/j\/\" class=\"elementor-item\">J<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-572\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/k\/\" class=\"elementor-item\">K<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-573\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/l\/\" class=\"elementor-item\">L<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-574\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/m\/\" class=\"elementor-item\">M<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-575\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/n\/\" class=\"elementor-item\">N<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-576\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/o\/\" class=\"elementor-item\">O<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-577\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/p\/\" class=\"elementor-item\">P<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-578\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/q\/\" class=\"elementor-item\">Q<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-579\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/r\/\" class=\"elementor-item\">R<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-580\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/s\/\" class=\"elementor-item\">S<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-581\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/t\/\" class=\"elementor-item\">T<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-582\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/u\/\" class=\"elementor-item\">U<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-583\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/v\/\" class=\"elementor-item\">V<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-584\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/w\/\" class=\"elementor-item\">W<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-585\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/x\/\" class=\"elementor-item\">X<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-586\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/y\/\" class=\"elementor-item\">Y<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-587\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/z\/\" class=\"elementor-item\">Z<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t\t\t<nav class=\"elementor-nav-menu--dropdown elementor-nav-menu__container\" aria-hidden=\"true\">\n\t\t\t\t<ul id=\"menu-2-53bd415\" class=\"elementor-nav-menu\"><li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-562\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/a\/\" class=\"elementor-item\" tabindex=\"-1\">A<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-563\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/b\/\" class=\"elementor-item\" tabindex=\"-1\">B<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-564\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/c\/\" class=\"elementor-item\" tabindex=\"-1\">C<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-565\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/d\/\" class=\"elementor-item\" tabindex=\"-1\">D<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-566\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/e\/\" class=\"elementor-item\" tabindex=\"-1\">E<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-567\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/f\/\" class=\"elementor-item\" tabindex=\"-1\">F<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-568\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/g\/\" class=\"elementor-item\" tabindex=\"-1\">G<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-569\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/h\/\" class=\"elementor-item\" tabindex=\"-1\">H<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-570\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/i\/\" class=\"elementor-item\" tabindex=\"-1\">I<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-571\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/j\/\" class=\"elementor-item\" tabindex=\"-1\">J<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-572\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/k\/\" class=\"elementor-item\" tabindex=\"-1\">K<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-573\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/l\/\" class=\"elementor-item\" tabindex=\"-1\">L<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-574\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/m\/\" class=\"elementor-item\" tabindex=\"-1\">M<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-575\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/n\/\" class=\"elementor-item\" tabindex=\"-1\">N<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-576\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/o\/\" class=\"elementor-item\" tabindex=\"-1\">O<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-577\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/p\/\" class=\"elementor-item\" tabindex=\"-1\">P<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-578\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/q\/\" class=\"elementor-item\" tabindex=\"-1\">Q<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-579\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/r\/\" class=\"elementor-item\" tabindex=\"-1\">R<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-580\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/s\/\" class=\"elementor-item\" tabindex=\"-1\">S<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-581\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/t\/\" class=\"elementor-item\" tabindex=\"-1\">T<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-582\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/u\/\" class=\"elementor-item\" tabindex=\"-1\">U<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-583\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/v\/\" class=\"elementor-item\" tabindex=\"-1\">V<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-584\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/w\/\" class=\"elementor-item\" tabindex=\"-1\">W<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-585\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/x\/\" class=\"elementor-item\" tabindex=\"-1\">X<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-586\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/y\/\" class=\"elementor-item\" tabindex=\"-1\">Y<\/a><\/li>\n<li class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-587\"><a href=\"https:\/\/memoinsurance.com\/es\/insurance-glossary\/z\/\" class=\"elementor-item\" tabindex=\"-1\">Z<\/a><\/li>\n<\/ul>\t\t\t<\/nav>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d25298b elementor-widget elementor-widget-text-editor\" data-id=\"d25298b\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><b data-ada-original-font-size=\"13\">RATE<\/b><br \/>The cost of a unit of insurance, usually per $1,000. Rates are based on historical loss experience for similar risks and may be regulated by state insurance offices.<br \/><br \/><b data-ada-original-font-size=\"13\">RATE REGULATION<\/b><br \/>The process by which states monitor insurance companies\u2019 rate changes, done either through prior approval or open competition models.<br \/><br \/><b data-ada-original-font-size=\"13\">RATING AGENCIES<\/b><br \/>Six major credit agencies determine insurers\u2019 financial strength and viability to meet claims obligations. They are A.M. Best Co.; Duff &amp; Phelps Inc.; Fitch, Inc.; Moody\u2019s Investors Services; Standard &amp; Poor\u2019s Corp.; and Weiss Ratings, Inc. Factors considered include company earnings, capital adequacy, operating leverage, liquidity, investment performance, reinsurance programs, and management ability, integrity and experience. A high financial rating is not the same as a high consumer satisfaction rating<br \/><br \/><b data-ada-original-font-size=\"13\">RATING BUREAU<\/b><br \/>The insurance business is based on the spread of risk. The more widely risk is spread, the more accurately loss can be estimated. An insurance company can more accurately estimate the probability of loss on 100,000 homes than on ten. Years ago, insurers were required to use standardized forms and rates developed by rating agencies. Today, large insurers use their own statistical loss data to develop rates. But small insurers, or insurers focusing on special lines of business, with insufficiently broad loss data to make them actuarially reliable depend on pooled industry data collected by such organizations as the Insurance Services Office (ISO) which provides information to help develop rates such as estimates of future losses and loss adjustment expenses like legal defense costs.<br \/><br \/><b data-ada-original-font-size=\"13\">REAL ESTATE INVESTMENTS<\/b><br \/>Investments generally owned by life insurers that include commercial mortgage loans and real property<br \/><br \/><b data-ada-original-font-size=\"13\">RECEIVABLES<\/b><br \/>Amounts owed to a business for goods or services provided.<br \/><br \/><b data-ada-original-font-size=\"13\">REDLINING<\/b><br \/>Literally means to draw a red line on a map around areas to receive special treatment. Refusal to issue insurance based solely on where applicants live is illegal in all states. Denial of insurance must be risk-based.<br \/><br \/><b data-ada-original-font-size=\"13\">REINSURANCE<\/b><br \/>Insurance bought by insurers. A reinsurer assumes part of the risk and part of the premium originally taken by the insurer, known as the primary company. Reinsurance effectively increases an insurer&#8217;s capital and therefore its capacity to sell more coverage. The business is global and some of the largest reinsurers are based abroad. Reinsurers have their own reinsurers, called retrocessionaires. Reinsurers don\u2019t pay policyholder claims. Instead, they reimburse insurers for claims paid.<br \/><br \/><b data-ada-original-font-size=\"13\">RENTERS INSURANCE<\/b><br \/>A form of insurance that covers a policyholder\u2019s belongings against perils such as fire, theft, windstorm, hail, explosion, vandalism, riots, and others. It also provides personal liability coverage for damage the policyholder or dependents cause to third parties. It also provides additional living expenses, known as loss-of-use coverage, if a policyholder must move while his or her dwelling is repaired. It also can include coverage for property improvements. Possessions can be covered for their replacement cost or the actual cash value that includes depreciation.<br \/><br \/><b data-ada-original-font-size=\"13\">REPLACEMENT COST<\/b><br \/>Insurance that pays the dollar amount needed to replace damaged personal property or dwelling property without deducting for depreciation but limited by the maximum dollar amount shown on the declarations page of the policy.<br \/><br \/><b data-ada-original-font-size=\"13\">REPURCHASE AGREEMENT \/&#8217;REPO&#8217;<\/b><br \/>Agreement between a buyer and seller where the seller agrees to repurchase the securities at an agreed upon time and price. Repurchase agreements involving U.S. government securities are utilized by the Federal Reserve to control the money supply.<br \/><br \/><b data-ada-original-font-size=\"13\">RESERVES<\/b><br \/>A company\u2019s best estimate of what it will pay for claims.<br \/><br \/><b data-ada-original-font-size=\"13\">RESIDUAL MARKET<\/b><br \/>Facilities, such as assigned risk plans and FAIR Plans, that exist to provide coverage for those who cannot get it in the regular market. Insurers doing business in a given state generally must participate in these pools. For this reason the residual market is also known as the shared market.<br \/><br \/><b data-ada-original-font-size=\"13\">RETENTION<\/b><br \/>The amount of risk retained by an insurance company that is not reinsured.<br \/><br \/><b data-ada-original-font-size=\"13\">RETROCESSION<\/b><br \/>The reinsurance bought by reinsurers to protect their financial stability.<br \/><br \/><b data-ada-original-font-size=\"13\">RETROSPECTIVE RATING<\/b><br \/>A method of permitting the final premium for a risk to be adjusted, subject to an agreed-upon maximum and minimum limit based on actual loss experience. It is available to large commercial insurance buyers.<br \/><br \/><b data-ada-original-font-size=\"13\">RETURN ON EQUITY<\/b><br \/>Net income divided by total equity. Measures profitability by showing how efficiently invested capital is being used.<br \/><br \/><b data-ada-original-font-size=\"13\">RIDER<\/b><br \/>An attachment to an insurance policy that alters the policy\u2019s coverage or terms.<br \/><br \/><b data-ada-original-font-size=\"13\">RISK<\/b><br \/>The chance of loss or the person or entity that is insured.<br \/><br \/><b data-ada-original-font-size=\"13\">RISK MANAGEMENT<\/b><br \/>Management of the varied risks to which a business firm or association might be subject. It includes analyzing all exposures to gauge the likelihood of loss and choosing options to better manage or minimize loss. These options typically include reducing and eliminating the risk with safety measures, buying insurance, and self-insurance.<br \/><br \/><b data-ada-original-font-size=\"13\">RISK RETENTION GROUPS<\/b><br \/>Insurance companies that band together as self-insurers and form an organization that is chartered and licensed as an insurer in at least one state to handle liability insurance.<br \/><br \/><b data-ada-original-font-size=\"13\">RISK-BASED CAPITAL<\/b><br \/>The need for insurance companies to be capitalized according to the inherent riskiness of the type of insurance they sell. Higher-risk types of insurance, liability as opposed to property business, generally necessitate higher levels of capital.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1a75b5b7 e-flex e-con-boxed e-con e-parent\" data-id=\"1a75b5b7\" data-element_type=\"container\" data-settings=\"{&quot;ekit_has_onepagescroll_dot&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6ba21508 elementor-widget elementor-widget-text-editor\" data-id=\"6ba21508\" data-element_type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"plainText\" data-ada-original-font-size=\"13\" data-ada-original-font-weight=\"400\" data-ada-not-tabbable=\"true\"><b data-ada-original-font-size=\"13\">NOTICE:<\/b>\u00a0These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should\u00a0<a href=\"https:\/\/memoinsurance.com\/es\/contact.aspx\/\" data-ada-original-font-size=\"13\" data-ada-original-font-weight=\"400\">contact<\/a>\u00a0your insurance agent, the insurance company, or the language of the insurance policy.<\/div><p style=\"text-align: center;\" data-ada-original-font-size=\"13\" data-ada-original-font-weight=\"400\" data-ada-not-tabbable=\"true\"><a class=\"plainText\" href=\"https:\/\/www.getitc.com\/products\/websites\/\" rel=\"nofollow\" data-ada-original-font-size=\"13\" data-ada-original-font-weight=\"400\">Insurance Websites<\/a>\u00a0Designed and Hosted by\u00a0<a href=\"https:\/\/www.getitc.com\/products\/websites\/\" rel=\"nofollow\" data-ada-original-font-size=\"13\" data-ada-original-font-weight=\"400\">Insurance Website Builder<\/a><br \/>Glossary content provided by\u00a0<a href=\"http:\/\/www.iii.org\/\" rel=\"nofollow\" data-ada-original-font-size=\"13\" data-ada-original-font-weight=\"400\">Insurance Information Institute<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.getitc.com\/\" data-ada-original-font-size=\"13\" data-ada-original-font-weight=\"400\">ITC<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Insurance terms and definitions from Memo Insurance Service. Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge.\u00a0Contact Memo Insurance Service\u00a0today to learn more. RATEThe cost of a unit of insurance, usually per $1,000. Rates are based on historical [&hellip;]<\/p>","protected":false},"author":1,"featured_media":0,"parent":279,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-418","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/pages\/418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/comments?post=418"}],"version-history":[{"count":13,"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/pages\/418\/revisions"}],"predecessor-version":[{"id":1336,"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/pages\/418\/revisions\/1336"}],"up":[{"embeddable":true,"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/pages\/279"}],"wp:attachment":[{"href":"https:\/\/memoinsurance.com\/es\/wp-json\/wp\/v2\/media?parent=418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}