Insurance the "American" Way

By Sarah Martin

Whether or not a given type of carrier is doing business in the American way depends upon the definition of the term "American way." No one definition of the term would be generally accepted. Under some definitions, only state funds would be excluded. Under others, mutuals and reciprocals also would be excluded. Still other definitions would exclude Lloyd's of London. Other definitions, however, would include all carriers doing business in the United States today. Pay your money, and take your pick. The authors are inclined to believe that there are good Americans at the head of all types of insurance carriers.

Definite Cost

Another argument often presented by representatives of stock companies is that the cost of the individual health insurance in stock carriers is definite. Their policy is not subject to assessment. But the definite-cost argument does not apply exclusively to stock companies. Many mutuals are qualified to issue non-assessable policies. For example, a typical clause found in a number of mutual policies reads: "This policy is non-assessable, and the liability of the named insured to the company is limited to the payment of the premium herein prodded."

Some stock insurance company agents argue that all mutual policies are assessable irrespective of a policy condition to the contrary. A number of court decisions are on record, however, to disprove this contention. There is no general or automatic assessment liability. Also, some stock agents argue that even though contracts are non-assessable in one state, they might be assessable in another. There is no evidence to support this claim, either.

In theory, at least, some buyers find an assessment feature in a contract an advantage. The assessment privilege gives the carrier additional financial strength. Under the assessment clause the companies can charge an additional premium whenever the original rate proves inadequate. The advantage of the assessment feature, however, is more theoretical than practical, for the task of collecting any sizable assessment would be difficult indeed.

Whether or not a definite, predetermined premium is charged for insurance for pregnancy, for example, is a matter of the type of policy issued rather than the type of company issuing it. Stock companies and many mutuals issue only non-assessable policies. Other mutuals issue only assessable policies, some with unlimited assessment and others with a limited assessment.

By and large, the rank-and-file insurance buyer prefers a non-assessable policy; but assessable policies are not always undesirable. In fact, the factory mutuals charge a more than adequate premium; yet they include an assessment clause in their contracts. The factory mutuals have never had to rely on these clauses, although they do give added strength to the carriers.

A Definite Contract

Mutual insurance contracts may include the following provision: "The company is a perpetual mutual corporation owned by and operated for the mutual protection and benefit of its members in accordance with law and in accordance with the charter and bylaws of the company as now in force and as the same may be amended from time to time."

Stock company representatives sometimes interpret this clause to mean that protection afforded by a mutual policy can be varied during the lifetime of the contract simply by a change in the corporate bylaws. They argue that, on the other hand, the protection offered by a stock insurance contract is clearly defined in the policy agreement and cannot be altered except by court order.

This argument is an exaggerated criticism of the mutual policy. Changes in bylaws will become binding upon policyholders only if these changes are reasonable and then only after the insureds have received notice of the change. If the changes adversely affect the insurance protection carried by the policyholder, they are very likely to be held unreasonable. Upon receiving notice of a reasonable change, the insured, if he disapproves, could cancel his home owner's insurance policy (as an example) and seek coverage elsewhere. The only cost of this action would be a penalty through the use of the short-rate cancellation table, which does not give the insured a full prorata refund of his premium.

If changes in mutual bylaws affect only administrative procedures, they are binding. Stock companies also can change administrative procedures without their policyholders' approval. In the final analysis, policies of advance-premium mutuals are as definite in the rights and obligations of policyholders as are policies issued by stock carriers. In fact, mutual policies usually contain a condition that states: "This policy embodies all agreements existing between the named insured and the company or any of its agents relating to this insurance."

As a matter of fact, since most policies (both mutual and stock) include cancellation clauses, companies, upon giving proper notice, can alter the terms of their policies at any time they see fit. They can terminate one policy and offer a less liberal one in its place.

Sarah Martin is a freelance marketing writer based out of San Diego, CA. She specializes in the history of finance, business, and different types of insurance, including insurance for pregnancy and home owner's insurance. For a free individual health insurance quote, please visit http://cheap-insurance-rates.com/.

Liability Insurance For Builders & Trade Contractors

By Matthew Bowes

As a trades contractor and residential builder you know that things don't always go as planned and that no matter how careful you are, accidents can happen. Dealing with clients can also bring its share of the unexpected. While there are many things in the trades that can come along which you could not have prepared for, Small Business Liability Insurance does not have to be one of them. Take just a little bit of time from your work day to go online and research the many ways you can protect yourself and your business for this very specific industry.

You work hard everyday juggling requests from clients and suppliers while keeping an eye on your workers and their safety on the site. Clients can become very emotional when dealing with their home, which makes you extremely vulnerable to lawsuits, Workers can get injured on the job, supplies can go missing from the work site; any number of unexpected things can happen in a routine day. Don't let these unforeseen occurrences disrupt your source of financial stability. Be prepared by going Online to see the unique ways a Small Business Liability Insurance plan can help you through your tough times.

As a contractor your insurance needs differ from other small businesses in that you face a unique set of risks. As part of a typical day you most likely engage in transporting tools, equipment, employees and supplies to and from and between job sites. Your equipment is often in several locations both on and off-site. A contractor also has the added burden of often requiring bonds to even bid on certain jobs.

In order to ensure that you are adequately covered for any type of occurrence, you will most likely require a variety of types of Small Business Liability Insurance for Contractors. These could include coverage for such things as: design/build errors and omissions, builder's risk (while work is in progress) and rented contractors equipment to name a few. Considering the possible issues that can happen while on a job can seem overwhelming at the onset. It's well worth taking some time now before anything goes wrong to fire up your laptop in the comfort of your own home to search for the Contractors Liability Insurance Package that best suits your specific needs.

You do not want to have your business interrupted in the event of an accident or equipment theft simply because you were not adequately covered. Many people depend on your ability to keep your existing contracts going not the least of which is your family and their financial stability. Nobody wants or plans for things to go wrong on a job but in the event they do it's easy to make sure you have taken the rights steps to protect yourself and your workers. Even a seemingly minor incident such as a vehicle breaking down can cause a loss of revenue.

Give yourself the freedom to do what you do best - provide a much sought after professional service as a contractor and keep your customers happy. It's really as easy as doing a little research online to help you choose the best Contractors Small Business Liability Insurance Package that is available.

Matthew Bowes - http://www.degreeprogramsonline.info

Looking Ahead - What to Expect From the Insurance Industry in the Upcoming Years

By James Cochran

As the end of the first decade of the new century approaches, insurance companies are realizing a need for change and innovation within their industry. The urgency to make these changes is underscored by several external forces that will continue to take shape over the next several years. Insurers must begin preparing for the future as cultural and environmental changes, technological advancements, globalization and world health issues arise.

To address continual operational challenges within the insurance industry, adoption of new technology will be critical. Market demands are forcing insurers to take a look at how to incorporate real innovation to the business model rather than solely applying optimization to products, processes and services.

To protect against existing and new competitors, such as mass-market retailers, from snapping up vital shares of their market, insurance companies will need to apply new technologies and innovation to the business model to adjust for the changing needs of consumers.

Meeting the needs of small businesses

Until now, insurers typically repackaged existing products as "new" and consumers bought what they were given. With greater frequency, consumers are realizing what they want and don't want, and if insurance providers resist innovation, this shift could affect their business significantly.

There are more small business owners now than ever before - completely changing the landscape of the business consumer needs. Business owners fall on both extremes of the spectrum when it comes to small business liability insurance: those that demand commodity pricing and those that demand premium-quality policies. Both are very different in their wants and needs, and the insurance industry must diversify its offerings to accommodate this need.

While the needs of small businesses are changing across all sectors and small business liability continues to evolve, the information technology consulting and computer-related businesses have more distinct changes and vulnerabilities appearing at a more rapid pace. One such change is globalization. Insurance providers must respond to this growing need with innovative offerings in their liability insurance. They must integrate new technologies into their own industry so they can adequately serve the IT and computer industry.

Trends affecting insurance

In addition to globalization, changing demographics will potentially affect insurance for consumers, agents, brokers, policyholders and other professionals. Changes in workforce demographics will require employers to make adjustments to outdated liability insurance policies and insurers will need to be dynamic enough to keep pace with these changes.

Another market force driving the urgency for change is technology, and more specifically information technology. It has the potential to level the playing field of the insurance industry. Technology is opening the door for greater insurance product offerings among nontraditional organizations such as Kroger in the U.S. and Tesco in the United Kingdom. While the nontraditional organizations primarily offer personal insurance, small business liability insurance may not too far off.

To remain competitive, insurers are realizing that collaboration is essential to innovation. Collaboration can come from building relationships with suppliers, competitors, peers, employees and other stakeholders. Insurers also must observe other industries to garner fresh perspectives.

To truly incorporate innovation into the new business model and survive beyond the first decade of the new century, interaction with consumers will also become increasingly important. Insurers must capture the feedback of business owners to be sure their liability insurance is exceeding expectations.

James Cochran is the founder of Techinsurance, which has been providing high quality business liability insurance at a reasonable price to IT firms across the nation since 1997. They quickly became a leader in the online insurance industry, and have since maintained their position as one of the top IT insurance providers

Are Annuities Offered by Insurance Companies Safe?

By Dr. Shelby Smith

The election is over but the economic and financial fundamentals have not changed. Nor is change expected until the bailout programs loosen the credit market, the recession (or worse) runs its course and economic downsizing reverses directions. Meanwhile, as I mentioned in this retirement blog, the market is unpredictably volatile, retirement accounts are down 40% to 50% from their 2007 highs and market investments are exceptionally risky. If consumers tighten their collective belts between Thanksgiving and Christmas as is forecast, expect a decided nasty turn in the stock market, shrinking jobs, falling incomes and corporate failures. Where is a safe place for retirement assets?

The part of the financial services industry that has largely escaped financial trauma has been life insurance companies. Granted, AIG Corporate failed but their troubles were not related to "insurance" but to unregulated Credit Default Swaps. The insurance subsidiaries of AIG suffered "guilt by association" but have maintained their financial strength rating as independent entities. No doubt these insurance subsidiaries will be the primary assets that are sold to repay the bailout loan extended to AIG Corporate by the federal government. You're probably asking questions about the solvency of the insurance industry and the safety of their products, especially fixed annuities. Let's take a safety tour of insurance companies.

First and foremost, insurance companies have an operating history of stability that is the envy of banks and brokerage firms. Their investments are limited to conservative, boring options that rarely carry inordinate market risks. The products they offer must first be approved by the state Insurance Commissioner to assure suitability for the general public and guard the insurance company's solvency. There have been failures - mostly small - that have occurred in troubling economic times. When failure seems likely or actually occurs, the home-state Insurance Commissioner swings into action armed with powerful regulatory might. Insurance Commissioners have the power to levy fees on other insurance companies operating in the state to pay for rehabilitation, merger or liquidation of failed insurance companies. This system has worked flawlessly, because not one insurance policyholder has lost a penny of their invested principal with an insurance company. Bear in mind, insurance companies have survived world wars, global depressions, scandals, government failures and stock market meltdowns. Americans have insured their homes, cars, health, life, business and retirement nest eggs without fear of safety.

What about fixed rate and index-linked annuities? Again, never has a fixed annuity holder lost a penny due to market losses. Not only is there a clearly stated guaranteed minimum rate of interest, but index-linked annuities offer the potential to earn extra if the market-linked index rises. What's more, if the market index falls - and that has been the case in the current market meltdown - the annuity is guaranteed not to lose value. In addition to no market losses, annuity owners get income tax deferral on earnings until withdrawal, protection from creditors in most states, probate-free transfers at death, the right to convert to a guaranteed lifetime income, penalty-free withdrawals to cover emergencies and total control over their money if circumstances change.

Fixed annuities, especially index-linked annuities, have gotten a bad rap from Wall Street in recent years, primarily because their popularity has taken mutual fund and variable annuity sales away from stock brokers. While the current meltdown has created massive losses for market investments, fixed annuities are loss free, earn a guaranteed rate at a minimum and will pay extra interest if the market recovers. Annuity owners are not postponing retirement, leaving retirement to find jobs or spending sleepless nights worrying about market losses. Savers will never get rich by choosing fixed annuities, but may very well stay rich.

Don't be surprised if the financial professional who introduced you to annuities calls and says: "your money is safe, and you have no losses - if the market recovers, you'll do even better". It might be a good time to think about converting more of your "market" money to fixed annuities. Stock broker don't have much good news these days because if you followed their advice you have massive losses. Of course, they are still giving you advice about where to put, or keep, your money - I suppose the theory is "the more they're wrong the higher the probability they'll guess right next time". I don't like that theory and neither should you. Safeguard your retirement money because "retirement is the largest purchase you'll ever make and you can't borrow the money to pay for it". Your retirement nest egg will pay for the last one-third of your life...safeguard it wisely.

Shelby J. Smith, Ph.D.

For resources and more on this topic check out: Wake Up Call for America and Is Your Annuity Good or Bad?

The Reduction of the Cost of Industrial Insurance

By Sarah Martin

Two further developments helped to reduce the cost of industrial insurance in the twentieth century. As early as 1911 the company inaugurated a plan whereby industrial policyholders willing to pay weekly premiums directly and continuously to the home office or to a district office would receive a refund of 10% of the premiums. The following year this provision was included in the policy and became a contractual right of the insured. The Metropolitan was the first company to grant this allowance.

Large numbers of policyholders have taken advantage of this provision; in fact, more than 30% of the weekly premiums in force are now paid directly to the company, without collection commissions to agents; and the amount returned to policyholders in 1942 for such direct payment was about $7,700,000.

It is interesting to note that almost 30 years after this practice was adopted by the Metropolitan, it became a statutory requirement for companies in New York State, illustrating once again how the company's voluntary provisions for the benefit of policyholders have later become part of the insurance law, whether it be life insurance or cheap auto insurance.

The second development was the introduction in 1927 of industrial insurance on the monthly premium plan. This form of insurance was designed primarily to meet the requirements of men and women who could afford to buy policies for between $500 and $800 and to pay their premiums monthly. In the main, the monthly premium Industrial policy was intended for better circumstanced wage earning families. In recent years this type of insurance has also been made available in smaller amounts and on the lives of children.

The monthly premium policies are similar in their provisions to the weekly contracts. From its very inception this insurance has been participating and has had the benefit of the company's nursing service. Yet current rates for monthly premium insurance are 12% lower than on corresponding rates for weekly premium policies. In fact, Metropolitan monthly premium industrial insurance compares very favorably in cost with ordinary insurance in many other companies. It is not surprising, therefore, that its growth has been phenomenal. At the end of 1942 there were nearly 3,000,000 monthly industrial policies on the books for a total amount of insurance of nearly $1,400,000,000. In the following years an increasing proportion of the company's industrial business was on the monthly plan.

We may conclude this section on cost by referring to a report made in 1938 by the insurance department of the State of New York, after an intensive study made of Metropolitan industrial insurance. The State Examiners concluded that the net cost of weekly premium industrial insurance exceeds the cost of comparable substandard ordinary insurance, and even private health insurance, on the average, by only approximately 15% of the industrial gross premium.

The report pointed out that this figure may be further reduced to about 5% if premiums are paid to a district office under the privilege of the 10% refund. The examiners of the state insurance department, after 18 months of study, reached the conclusion that "these costs are not excessive in view of the service rendered." Their conclusions were reaffirmed as the result of a later examination.

Sarah Martin is a freelance marketing writer based out of San Diego, CA. She specializes in finance, business, and private health insurance. For cheap auto insurance quotes, please visit http://cheap-insurance-rates.com/

Insurance Training

By Rama Krishna

Insurance Training is being offered in many universities in United States of America. Many of these universities offer choice both correspondence and classroom education. The courses are designed related to specific areas like Risk and property management, Agent broker pre licensing, worker's compensation etc. There are also many institutes which offer online courses beneficial to those already employed as insurance agents. All these universities also give professional certification to agents who h successfully complete their training programs and also give them the option of continuing their education for specializations.

Most of the training institutes and companies make sure that the training department is efficient enough to give simultaneous online or virtual class training to agents in various locations. Many Insurance companies sponsor the training charges to those already employed in the respective sectors. In addition to that many prominent companies and individual candidates prefer to have courses online. Some universities offer both in house classrooms training as well as online training.

Features

• Insurance Training instills professionalism and builds self confidence among the employees to tackle the pressure that goes with the industry.


• It introduces candidates to various soft skills and behavioral techniques motivating good competition and better understanding of the market and business culture.


• Insurance Training also provides the candidates an exposure of International insurance market scene to help them cope with day to day industry changes.


• The training also gives enough sessions on other business oriented issues like human resource, investments and security concerns.

Benefits

• The training ensures good customer service and also enables to understand new products and regulations introduced in the market.


• It also helps the agents to grasp various industry concepts, thereby encouraging focused analysis with regards to product and technical knowledge.


• The training also provides a good background on effective data maintenance and content management.


• The training encourages good competency within the industry and also among the agents.

Insurance training help the agents provide professional service to the public. It on the whole gives a wide picture and helps an agent address specific issues of a customer. The training also helps in building ethical values along with professional approach to the industry.

For more info visit : Insurance Training

Extended Health Care Benefits in Group Insurance Plans

By Kyle J Norton

As we mentioned in previous article, many corporations offer competitive packages, and that's even a strategy in hiring and retaining employees. These competitive packages include group insurance to plans that provide individual retirement accounts or traditional registered pension plans, etc. In this article, we will discuss fundamental principles of group insurance.

Group Insurance exists for the benefit of the complete group and therefore the individual member is not required to submit medical information. In this article, we will discuss the extended health care benefits in group insurance plan.

Extended health care is a benefit that picks up where basic health plan leave off. It provides an extension for some benefits and provides other benefits not available through the basic plans. The benefits is a supplement of the basic plan benefits until the basic benefit has reached it maximum payout. the core benefits of extended health care plan includes

a) Semi-private or private room accommodation in a hospital.

b) Prescription drugs

c) Private duty nursing

d) Ambulance services and paramedical services

e) Eye and hearing care

f) Dental care such as preventative care, major restoration and orthodontics

Both Health and Dental Care plans may have a deductible of $25 to $50 and /or co insurance factor of 80% reimbursed by the insurance company. Deductible are applied against the first claim of the calender year and co-insurance is applied against each claim. Extended health care may includes a limiting clause resulting in a lower premium being charged for the benefit.

Dental care normally has a maximum benefits that can be charged for each calendar year by each insured member and their dependents, such as $2000. Sometimes there is a different maximum for different levels of care. Please read details in your plan.

I hope this information will help. If you need more information, you can read the complete series of the above subject at my home page: Kyle J. Norton http://lifeanddisabitityinsuranceunderwriter.blogspot.com/ http://groupinsurance08.blogspot.com All rights reserved. Any reproducing of this article must have all the links intact. I have been studying natural remedies for disease prevention for over 20 years and working as a financial consultant since 1990

Benefits of Group Insurance Plan

By Kyle J Norton

As we mentioned in previous article, many corporations offer competitive packages, and that's even a strategy in hiring and retaining employees. These competitive packages include group insurance to plans that provide individual retirement accounts or traditional registered pension plans, etc. In this article, we will discuss the benefits of group insurance Plan.

1. Benefits for employers

a) The insurance provided by company helps to reduce turnover,attract a higher class of employee and employees loyalty.

b) Provides for continuity of coverage of any new employees had previous coverage, making the employer more competitive in the labor market.

c) Creates a greater degree of employee security and efficiency.

d) Employers have a obligation to provide affordable employee protection.

e) Premium is easy to project and to adjust.

f) It is a deductible expense.

2. Benefits for employees

a) Employees received free insurance coverage without paying any premium when funded by the employer.

b) Do not require evidence of insurability on the larger plans.

c) Provide for employee security for employees dependents in the event of death, disability or critical illness.

d) Life insurance in the group insurance can be carried over to a new group policy or individual plan upon termination.

Please note that some companies have combined contribution and non contribution plan depending of seniority of each employee. This type of plan automatically enroll new hired employee and junior employees( less 3 years of seniority) into contribution plan and he or she requires to pay for portion of premium from 10% t0 30% or more before they can enroll into non contribution plan usually with seniority of 3 years or more.

I hope this information will help. If you need more information, you can read the complete series of the above subject at my home page:

Kyle J. Norton http://lifeanddisabitityinsuranceunderwriter.blogspot.com/ http://groupinsurance11.blogspot.com All rights reserved. Any reproducing of this article must have all the links intact. I have been studying natural remedies for disease prevention for over 20 years and working as a financial consultant since 1990

Insurance Fraud Affects Us All

By Cindy Hartman

Insurance fraud seems to be a common occurrence. Have you heard someone say that they claimed more than what they lost from a fire? Or stated their items were worth more than they really were so they could - in their words - recover the deductable, too?

One person claimed all his tools were top of the line. Not one wrench or screwdriver was purchased at Wal-Mart? Hard to believe! Another person claimed he had a closet full of custom-tailored suits, rather than some being purchased off the rack. Again, a statement I question.

When people file fraudulent claims, who do you think ends up paying for it in the long run? Everyone, through higher premiums. An insurance policy is to help you get back to where you were prior to your loss, not improve your way of life!

We've had many disasters in recent years, and predictions are that we'll continue to see hurricanes and tornados affect our lives. Fires continue to burn houses and business. Flooding is happening in areas of the country where it 'never' happened before. Wild fires continue to burn.

Fortunately, something is being done about it. The Federal Bureau of Investigation has stated that the Hurricane Katrina Fraud Task Force has brought federal charges against 907 individuals across the country since Katrina affected so many lives in 2005. The Task Force's responsibility is to deter, detect and prosecute those who try to take advantage of disasters related to Hurricanes Katrina, Rita, Wilma, Gustav, and Ike, as well as other natural disasters.

The Task Force processes complaints and coordinates with law enforcement agencies to initiate investigations. Unfortunately, there are people who thrive on taking advantage of victims. The same is true in the situation of people trying to recover from disasters. It is a sad statement that such a task force is needed. However, we can be pleased that we have federal oversight on this wide-spread fraud.

More than 26,000 disaster fraud complaints have been received and over 17,000 have been or are being investigated. Just created this year, the Command Center now has a disaster fraud hotline to receive complaints related to the California wildfires, Iowa floods and Hurricanes Gustav and Ike.

These are the wide-spread disasters, and this commission is addressing the fraud committed by people taking advantage of the disaster victims. But consider your individual policy. Many insurance agents have stated that fraud - whether the type investigated by the Task Force or those committed by the policy holders themselves - will encourage the insurance companies to be more stringent when requiring proof of ownership from their customers. When filing a claim, this will impact those who do not have an inventory of their belongings because they won't be able to provide this information.

What can you do? Report suspected fraud. And have a list of the contents of your home or business so you can support any claim you might need to file.

Cindy Hartman is President of Hartman Inventory, a woman-owned business. Visit her website at http://www.HartmanInventory.com to discover more reasons you need a business or home inventory. Also view the Turnkey page to learn about the Hartman Inventory Systems, a complete turnkey business package; start and grow your own personal property inventory service. Cindy's blog, at http://www.HartmanInventoryBlog.com, discusses marketing, management, entrepreneurship and asset inventories.

About Policy Administration

By Motchka Curtis

Policy administration is a term that is most commonly used in reference to insurance. Insurance exists in the modern world for everything from safeguarding a person's life all the way down to safeguarding that person's investment in a particular stock or bond. Insurance is everywhere and for that reason it needs to be managed in a way that allows everyone involved in the policy to know what is going on whenever they might want a report along those lines. Policy administration is the discipline devoted to making sure that this wish becomes a reality and it usually encompasses everything starting with the quotes that are given right down to the actual management of the insurance when it is purchased by the client.

In conventional times, policy administration was a budding field that did not really get that much attention from insurance companies because of the relative expense that it brought to the table. Nobody at that point had thought about employing information systems to analyze the questions related to policy administration and for that reason accountants were required to keep everything honest and keep everything up to date. Accountants are expensive and for that reason insurance companies were not that eager to ensure that policy administration of the various insurance agreements they had in place was a top priority of the insurance firm.

With the advent of policy administration software however, that has changed significantly. The software has taken what was once a very difficult area of the insurance game and turned it into something extremely easy. Any good policy administration software package will allow you to manage everything you would find across the life of a particular insurance policy.

Insurance politics starts with first contact through quotes and rate offerings and ends with the termination of the insurance contract depending on the preconditions that were set in the initial contract. All of this information is available at the touch of a button through policy administration system software. As the future dawns bright on this aspect of insurance it is expected that further policy administration packages will only get more sophisticated as time passes.

Premium Industrial Insurance

By Sarah Martin

Over the decades, well meaning but often misinformed persons have decried what they have called "the high cost of weekly premium industrial insurance." Any offhand comparison with the cost of ordinary insurance or cheap homeowner insurance would be, of course, to the disadvantage of industrial.

There can be no escape from higher costs in view of the nature of the business. Three factors determine the cost of life insurance, whether it is ordinary or industrial-mortality, operating expense, and the interest earned on the invested funds of the company.

Of these, the first two operated to make industrial insurance cost more than ordinary. Because it was sold chiefly to the families of working men, industrial insurance had to provide for the higher mortality prevailing among this group. Despite marked improvement in the years following, the death rate of industrial policyholders still showed an excess of about 20% as compared with the holders of standard ordinary policies.

The second item, operating expense, was higher in the case of industrial insurance, not only because of the small units in which these policies were issued but also because it had to cover the cost of the additional services which industrial policyholders received.

The premiums were received in the homes weekly, and the agent often would have to call more than once to find the policyholder at home and in funds. His time was at the disposal of the people on his debit, and the policyholder was saved the trouble and expense of having to pay at the office of the company. The services of the agent had to be paid for, and they were well worth what they cost. No wonder that the operating cost of weekly premium insurance was higher than that of ordinary.

Nevertheless, progress was made consistently to reduce the difference between the cost of industrial and ordinary life insurance, and this reduction was in large measure the result of definite planning and conscious effort. Death rates of policyholders continued to decline throughout almost the entire span of life. At the younger ages they finally reached about one fifth of the former levels.

The company's broad program of welfare activities, including its extensive nursing service, undoubtedly reflected favorably on the longevity of the industrial policyholders. More and more their life expectation has come into line with that of the population as a whole. There was still a sizable difference, however, in favor of the ordinary policyholders.

Better management also reduced the expense ratio of the business. The employment of better qualified agents, their greater stability, the improved persistency of policies, the better control of details of the business, the new devices of recordkeeping, the extension of insurance without medical examination-all helped to bring the expense ratio down, although the services given were greatly extended.

In fact, the proportion of the industrial premium devoted to expenses at that point was only about one half what it was about 50 years before, and is smaller than that required by the majority of purely ordinary companies for conducting their business.

Sarah Martin is a freelance marketing writer based out of San Diego, CA. She specializes in finance, business, and life insurance. For cheap homeowner insurance, please visit http://cheap-insurance-rates.com/.

Freight Broker Training - Contingent Cargo Insurance

By Sharon D. Martin

Contingent Cargo Insurance, I've heard of it, but what is it? Contingent Cargo Insurance is an insurance policy usually carried by Freight Brokerages as a customer-based protection plan. Why does a brokerage need it since the Carrier has to have insurance? When would a brokerage need Contingent Cargo Insurance?

First of all, there is no law that requires a Freight Brokerage to carry contingent cargo insurance. They DO NOT have to carry it. But, most shippers won't deal with a brokerage that doesn't have it. Why? Most shippers feel they can sue the broker or collect from the brokers Contingent Cargo Insurance if a load is hijacked or once delivered, is damaged or missing pieces. But, this is not true. That falls under the carriers insurance. A Brokerage does not personally load the freight, count it, inspect it, nor haul it.

And a lot of times the carrier does none of this BUT haul it. Yet the carrier takes possession of the load and is therefore responsible for it. If it is hijacked, damaged, or is missing pieces, the carrier and/or receiver goes back to the shipper, NOT to the Brokerage. Then the carrier and shipper work it out or the carrier, shipper and receiver work it out. The Brokerage is truly the intermediary, but, YES, there are times when he/she can be held responsible.

Below are the only two reasons I know of as to when a Brokerage would be better off in carrying Contingent Cargo Insurance.

(1) Plain and Simple: If the Brokerage signs an agreement with the Shipper stating that he/she will take responsibility if something goes wrong.

(2) If the Brokerage fails to check out the Carriers insurance and something does goes wrong. This can hold true if a Brokerage is exceptionally busy or chaotic one day and he/she forgets to check the Carrier insurance. Maybe the Brokerage has decided to take on Agents or has hired some new Agents and out of nervousness, they forget to check the Carrier insurance. Or Maybe the Brokerage has done business with the Carrier before and doesn't think he/she needs to check the carrier insurance again. Then, all of a sudden while in route, the Carrier wrecks and a whole load of eggs are broken. No problem, the Carrier's insurance will cover it. WRONG! The Carrier had forgotten to pay his insurance premium that month and it was cancelled three days ago. But the Broker didn't know this because he/she forgot to check the Carrier's insurance. Having Contingent Cargo Insurance would have surely saved the day here.

Written by Sharon D. Martin - a1freighttraining@gmail.com

What is the Source of Groups in Group Insurance?

By Kyle J Norton

Many corporations will offer competitive packages, and that's even a strategy in hiring and retaining employees. These competitive packages include group insurance to plans that provide individual retirement accounts or traditional registered pension plans, etc. In this article, we will discuss the source of group insurance

1. Employers

The main source of groups is the employer group. The employer group can be one company or family of companies and the master group contract is issued to the employer or head office that covers all the employees working only for such company.

2. Trade associations

Group Benefits can also be provided for by trade associations.They are based on the fact that while you may have many different employers, all the employees are engaged in similar occupations.

3. Professional associations

Groups of professionals like doctors or dentist are often too small to purchase group insurance individually by office. However, when they are bundled together with other professional offices, it creates a very large insurance group.

4. Unions

Unions also provide group benefit for their active at work members even their members may work for difference employers or group of employers.

5. Creditor groups

Insurance is provided for each borrower of funds on a group basis up to a certain maximum. The premium charged is a flat rate per $100 borrowed or outstanding indebtedness. This type of insurance aims to protect the lender in case of disability or death of the borrower.

6. Saving groups

Insurance is provided for depositors and investors as a plan completer if they die. It generally would cover the contractual payment period only, but not equal to the total goal to be saved.

Groups are classified as being small, standard or large.

a) A small group have between 5 - 25 people. Usually, Insurance companies require medical statement will usually be required for any group with 10 employees or under.

b) Standard group has a size of 25 - 200 employees

c) Large group has about 200 - 20,000 employees.

The main characteristic of group plan is the large the group the cheaper the premiums.

I hope this information will help. If you need more information, you can read the complete series of the above subject at my home page: Kyle J. Norton http://lifeanddisabitityinsuranceunderwriter.blogspot.com/ http://groupinsurance01.blogspot.com/ All rights reserved. Any reproducing of this article must have all the links intact. I have been studying natural remedies for disease prevention for over 20 years and working as a financial consultant since 1990

Electronics Insurance - Are Your Electronics and Computers Covered by Your Insurance?

By Russell Longcore

There is a lot of misinformation today about consumer electronics and how it is treated by insurance companies. Most people I talk to think that if they have homeowners or renters insurance, their consumer electronics are covered.

But they usually find out that their assumptions aren't true...at claims time.

Sure, some of the property is covered. But there are a bunch of limits and exclusions that will surprise you if you have a loss and file a claim.

Don't wait until claim time to learn about this important coverage. Read this article carefully and make good decisions about your coverage.

Twenty years ago, consumer computer usage and ownership was not all that common. If you owned a cell phone, you carried it in a bag the size of a small purse. There were few home fax machines. Answering machines were pretty common, but voicemail was still on the horizon. Scanners were non-existent. Printers and copiers were huge and expensive, and you didn't see them in most homes. If you were the rare person who had satellite TV, the dish was about eight feet across and sat out in the back yard. And Personal Digital Assistants (PDAs) and MP3 players had not been invented yet.

But today....

In our home we have:

• two desktop computers with monitors

• four laptop computers

• four printers

• one stand-alone fax machine

• one combination fax, scanner, copier

• three TVs

• two VCRs

• one digital video camera with tripod for our home recording studio

• one audio mixing board, one microphone, one amplifier, two external soundcards, and a 500GB hard drive, all for our home recording studio

• two DVD players

• two cell phones, one smartphone, each with voicemail

• one satellite TV system with a 24" dish on the roof

• two Ipods

Your home may not have that amount of electronics, but then again, you might have more. The way that consumer electronics prices have tumbled over the years makes ownership much easier for more and more people.

But...is it covered? Does your homeowners or renters insurance cover your electronics?

We run three separate businesses out of our home. Most of our electronics are used in our businesses.

Do you have a home business? There are millions of home businesses...everything from home daycare to a service business to multilevel marketing businesses. Many times, those entrepreneurs own office electronics for their home business. Do you use your computers and other electronics for any kind of home business? Even if you're answering office email on your home computer, it could be considered "business use."

Are they covered by YOUR homeowners policy?

Are they covered if they are business-related?

What happens if your desktop or laptop computer is stolen, either from home or away from home? Is the theft covered by your homeowners insurance policy?

If you're carrying your laptop through an airport anywhere in America, your laptop is at huge risk for theft. (See more below) What if your laptop is stolen while you're in the airport?

Here is the answer to those questions...

MAYBE!!!!

In the Homeowners or Renters Policy, Coverage C, Contents, there are special limits of $2,500 for "property, on the residence premises, used primarily for business purposes." The policy says there is a $500 limit for "property away from the residence premises used primarily for business purposes." Of course, you will have a deductible to pay first, so if your deductible is $500 or more, you won't get ANY money from the insurance company for this loss.

Are your personal electronics covered? Yes, but only for the following perils:

• Fire or lightning

• Windstorm or Hail

• Explosion

• Riot or Civil Commotion

• Aircraft (not in aircraft, but if aircraft fall on your stuff.)

• Vehicles (not in vehicles, but if vehicles crash into your stuff.)

• Smoke

• Vandalism or Malicious Mischief

• Theft

• Falling Objects (stuff falling onto your stuff)

• Weight of Ice, Snow or Sleet

• Accidental Discharge or Overflow of Water or Steam

• Sudden and Accidental Tearing Apart or Bursting (of a steam or hot water system).

• Freezing

• Sudden and Accidental Damage from an Artificially Generated Electrical Current

• Volcanic Eruption

As I said above, the policy limit for business electronics at the residence is $2,500.

If your laptop or other portable electronics are stolen from your car, there is no coverage under your Auto insurance for the theft.

Also remember, that under Coverage C, Contents, payment is made on an Actual Cash Value basis, not Replacement Cost Value. The only way to get RCV is to add the Contents Replacement Cost endorsement to your policy. It's not automatic, you have to request it.

How about other kinds of damage that your computer might sustain?

• Accidental damage, such as dropped equipment, falls, liquid spills and auto collisions.

• Water damage

Those kinds of damages are not covered under your homeowners or renters policy.

And what about the software and sensitive data in your computer? Is that covered, too?

Not likely. In the Homeowners and Renters policies, under the "Property Not Covered" section, "business data, including data stored in computers and related equipment" is not covered.

So, to be fully covered, you'll need to buy some additional coverage.

COMPUTER AND PERSONAL ELECTRONICS INSURANCE

The leading company in the world for computer and portable electronics insurance is Safeware Insurance. They have programs for students, individuals, small and large businesses and schools at very competitive rates.

Let me take a few minutes and tell you about their outstanding insurance product.

If you own:

• Desktop or Laptop Computers

• Personal Digital Assistants (PDAs)

• Smartphones

• Digital cameras

• MP3 players

• Scanners/Faxes/Copiers

• Printers

• DVD players

• Flash drives

• Servers

• External hard drives

• Digital camcorders

• Peripherals that connect to your computers through an USB port, Firewire, PCMCIA or another input

All of these electronic products need special insurance coverage not provided in Homeowners or Renters policies.

Did you know these facts about computers?

• Accidental damage is the number one cause of loss

• Theft is number two cause of loss

• Power surge is number three

• Manufacturer warranties do not protect your computer from accidental damage or theft

• Even though some manufacturers do offer special "damage only" coverage, they do not offer coverage for theft, power surges, natural disasters or vandalism.

You already know how easy it is to have electronics with replacement value in excess of $2,500. There are loaded desktops and laptops that easily exceed $2,500 EACH.

So, you have some choices:

1. Call your agent and buy a Personal Property Endorsement to add coverage to your homeowners or renters policy. Downsides to this choice are (a) many endorsements only pay the Actual Cash Value of the damaged property, not replacement cost, and (b) perils like Accidental Damage, Drops, Falls, Cracked Screens, Liquid Spills and Auto Collisions are not covered.

2. Buy a custom policy that just adds special coverage for your computers and other electronics, like:

• Desktops

• Laptops and notebooks

• Personal Digital Assistants (PDAs)

• Smartphones

• Digital cameras

• MP3 players

• Scanners/Faxes/Copiers

• Printers

• DVD players

• Flash drives

• Servers

• External hard drives

• Digital camcorders

• Peripherals that connect to your computers through an USB port, Firewire, PCMCIA or another input

Safeware's policies cover Accidental Damage, Drops, Falls, Cracked Screens, Liquid Spills and Auto Collisions.

Business Electronics

In May 2006, burglars stole a laptop from the home of a data analyst at the Department of Veterans Affairs. The laptop contained the sensitive personal information of over 26 million veterans and military personnel. The FBI said that the laptop was recovered after an informant "snitched," motivated by a $50,000 reward.

But it's not just organizations that deal with consumer data that are concerned about thefts. Companies whose employees have laptops are naturally concerned with the value of the computer when it is the company that owns the laptop.

The Ponemon Institute, a privacy risk management think tank, released an extensive study in June 2008 entitled "Airport Insecurity : The Case of Missing and Lost Laptops." They studied laptop security at 106 American airports and found that there is an average of 12,000 laptops lost, missing or stolen at American airports PER WEEK! The airport with the worst record is Los Angeles International, with about 1,200 per week. The nation's busiest airport, Atlanta's Hartsfield, was in eighth place with 450 per week.

Further, the study found that only 33% of the laptops within the airport's Lost and Found Departments are ever reclaimed! That means that the remaining 67% of unclaimed laptops are either sold or disposed of by airport authorities. Can you imagine the amount of sensitive personal and business data contained in those laptops? No one knows what happens to that data, but it is ALL at risk. The Identity Theft risks are astronomical.

Safeware's policy covers business electronics for the hazards the homeowners, renters or business insurance policy does not cover.

Education Coverage

Students face a higher risk of damage or theft than a normal adult user. Students can experience accidents when they're putting their stuff into their locker, or accidentally get bumped in a busy hallway, or when they're running to the bus. A soft drink could be spilled on the keyboard, or they could sit their laptop bag down somewhere and later find it missing.

This policy protects students' computers against Accidental Damage, Theft, Vandalism, Power Surge, and Natural Disasters at any location within the USA, Canada and while in transit.

Small Business Coverage is for any sized business with electronics property values up to $49,999, covering Accidental Damage, Theft, Fire, Vandalism, Power Surge and Natural Disasters.

Commercial Coverage is a group plan for organizations that have electronics property values in excess of $50,000. Coverage can be one of the following: Comprehensive (Accidental Damage, Theft, Fire, Vandalism, Power Surge, and Natural Disasters); Theft ONLY, or Accidental Damage ONLY.

The Commercial policy can benefit organizations such as:

• Schools and colleges that want to make their student's notebook computers more safe and less at risk.

• Corporations issuing notebooks and laptops to their workers, and wishing to minimize their risk of capital loss.

In these organizations, the equipment is owned by the corporation or school and used by the employee or student. Experience has shown that if an individual does not own the computer, he or she is likely to take less care of the item than if they owned it themselves. Schools and businesses need to insure their equipment against the perils that could turn their expensive equipment into unusable junk.

Safeware Insurance policies do not depreciate for age and condition of your electronics. If you have a claim that requires replacement of your equipment, they pay for like kind and quality of the equipment you had. That's a HUGE difference from the Homeowners and Renters policies, and could mean thousands more dollars to you in a claim.

Worldwide Coverage is an endorsement that adds global coverage to your policy for a very low price. Standard coverage is for the USA, Canada and Puerto Rico.

Mobile Advantage insures PDAs and smartphones. You likely purchased your unit at a big discount when you signed up for a service plan. If your device is damaged or stolen, you'll have to pay full retail for another unit. However, with Mobile Advantage, you're only responsible for the $50 deductible per incident to get a brand new device.

For more information about Personal Electronics Insurance for your student, yourself, your business or your school, contact Safeware Insurance at: www.safeware.com

LAPTOP RECOVERY COVERAGE

Can you get your stolen laptop back?

There is a way that you can protect your laptop, and then retrieve your laptop after it's been stolen.

Three burglary suspects were arrested on February 1, 2008 by Albuquerque police, thanks to a stolen computer loaded with tracking software. The software is called LoJack for Laptops™, developed by Absolute Software. The tracking software told the police exactly where to find the suspects. The police were also able to recover thousands of dollars in other stolen property at the location.

Absolute Software is the leader in Computer Theft Recovery, Data Protection and Secure Asset Tracking™ solutions. It works this way: You install the LoJack for Laptops™ software and register it at the LoJack website. If the laptop is stolen, you notify your local police and notify the LoJack Recovery Team. The next time your computer is connected to the Internet, the laptop secretly notifies the Monitoring Center of its whereabouts. The Recovery Team can track its location, and provide police with the information they will need to get a search warrant and recover your laptop.

Pricing for LoJack for Laptops™ starts at only $39.99 per year.

My friend here in Atlanta, Cole Harrison, had his laptop stolen from his car recently. He had the Lojack system on the laptop, and notified them immediately when he discovered the theft. Lojack located the laptop the next day...in Thailand.

If you want protect your laptop so you can get it back after it's been stolen, contact Lojack for Laptops at: www.lojackforlaptops.com Lojack boasts a 90% recovery rate for stolen laptops.

CONCLUSION

For only a small price, you can have the proper coverage you need to protect all your personal and business electronics. Be the smartest person on your block with the right protection. Be the hero to your business with the best coverage. YOU CAN DO IT!!

Copyright 2008 by Russell D. Longcore P.S. I wrote a book that YOU need! check out: http://www.insurance-claim-secrets.com NUMBER ONE at Amazon.com in its category! My blog is at: http://insurance-claim-secrets.blogspot.com/ Nominated for Georgia Author of the Year Award 2008 Finalist, USA Book News "Best Book Awards 2008"

Insurance and Safety at College

By Cindy Hartman

Whether your children are already in college or will be soon, there are insurance and safety issues (yes, on top of everything else you need to think about!) that must be considered.

PERSONAL PROPERTY INSURANCE

Most homeowners policies cover your children's belongings while they are gaining their higher education if they live on campus, are under the age of 24 and their legal address is your residence.

Many students choose to live off campus, and that creates a need for a separate renter's policy. Renters insurance is very inexpensive and a must when you think about how much they take with them (if you don't remember how much, wait until they bring it all back home!).

FIRE SAFETY

Every year college and university students experience a growing number of fire-related emergencies. According to the USFA Fire Safety 101 Program, many factors contribute to the problem of dormitory housing fires:

- Improper use of 911 notification systems.

- Hindered evacuation efforts - fire alarms are often ignored.

- Evacuations are delayed due to lack of preplanning.

- Vandalized and improperly maintained smoke alarms and fire alarm systems.

- Misuse of cooking appliances.

- Overloaded electrical circuits and extension cords.

Check with your college to ensure they:

- Regularly inspect fire and smoke alarms.

- Have updated evacuation maps in the housing facilities.

- Inspect exit doors and windows routinely.

- Conduct fire drills and practice evacuation plans.

THEFT

According to Colby-Sawyer College, theft is the most common crime on American college campuses. Being aware of your surroundings is an important part of crime prevention, especially in areas where thieves are most likely to strike such as academic buildings, residence halls, libraries, and parking lots.

Thieves will look for cash which is sometimes left unsecured. Bikes are a good target because either whole or in parts, they can be quickly removed from campus and sold. Books, stereos, CDs and tapes can be converted into fast cash.

SAFEGUARD YOUR VALUABLES BY PRACTICING THESE EASY TIPS:

- Keep doors and windows locked, even if you are inside the room sleeping or plan to be absent for only a short time.

- Keep small, valuable items like cash, checks, credit cards, and jewelry locked in a safe place.

- Do not lend your key(s) or give your lock combination(s) to anyone, even friends.

- Do not prop open doors; this prevents unauthorized access to your residence hall.

- Record your personal property, including serial numbers.

These simple tips, from making sure you have the correct insurance coverage to knowing fire and theft safeguards, will make the years at college less stressful - for you and your children.

Cindy Hartman is President of Hartman Inventory, a woman-owned business. Visit her website at http://www.HartmanInventory.com to discover more reasons you need a business or home inventory. Also view the Turnkey page to learn about the Hartman Inventory Systems, a complete turnkey business package; start and grow your own personal property inventory service. Cindy's blog, at http://www.HartmanInventoryBlog.com, discusses marketing, management, entrepreneurship and asset inventories.

Insurance - A Great Way To Get Protect

By William Black

A contingent situation can arise at any point of time in anyone's lives. It comes without any prior notification. But we can take precautions to deal with any possible emergency smartly. This can be done by taking out an insurance policy as per your requirements. Any risk that can be quantified can potentially be insured.

There are many types of insurance available in the market such as life, auto, business, home and health insurance. Insurance companies sell various insurance plans to the consumers seeking coverage. If the insured person faces any kind of loss he can claim for the amount of coverage that he had insured for. But, it is vital to choose a right insurance coverage, from the right place.

Insurance policies can be availed through plenty insurance companies and agents but the most convenient option to apply for such policies is through extremely popular online mode. Through the online mode, you can easily understand the terms and conditions of the policy while sitting at the comfort of your home or office. You can click on several sites and can derive all the necessary information of insurance as per your requirements. A thorough research on the internet entails you to pick a perfect insurance deal at feasible premium rates. This will save your precious time as well as money, as you are not required to visit to ample of insurance companies to understand the terms and conditions of your insurance policy. Online mode provides you great chance to apply for an insurance policy in a hassle free manner.

By purchasing insurance policies, individuals and businesses can receive compensation from damages which might be arises by car accidents, theft of property and belongings, and fire and storm damage; health issues; and loss of income due to disability, redundancy or death etc.

William Black has no formal degree in finance, but years of work that he has put in the finance industry makes him perfectly eligible to be called an expert in financial matters. To find insurance, unsecured loans, personal loans, bad credit loans, cash loans visit http://www.infoaboutloans.co.uk/

Statistics Show That For Millions of Americans, Insurance is More Than Worth the Cost

By James Cochran

Today, many small businesses operate without liability insurance - with the exception of the workers' compensation insurance, which is required by law. In many cases, business owners simply want to cut down on operating costs, but in today's climate in which worker compensation claims have skyrocketed, operating without any liability coverage is a highly volatile practice.

With just one claim, what took years to build can be wiped out. Without liability insurance, the business can take a major hit from the litigation process and the owner's personal assets can become vulnerable. Consider that in 2007, according to the Bureau of Labor Statistics, there were more than 335,000 cases of employees injured on the job due to contact with objects and equipment.

Workers' compensation, which is required by law in all 50 states, protects employers from liability for an accident involving an employee. This coverage will pay medical expenses and lost wages on injured employees. In cases of disability, it will provide a lump sum or annuities. It is increasingly important employers review their general liability insurance policies to ensure the coverage protects the business against claims made for bodily injury or property damage. Coverage should include medical expenses, defending the lawsuit, settlements and in appeal procedures, bonds or judgments.

Premiums on General and Professional Liability insurance can be costly, and often the cost alone dissuades businesses from purchasing it. The cost, however, of operating without liability insurance can prove to be much more extreme. The out-of-pocket costs of filing a claim alone can escalate quickly and the number of damages that can occur such as fire or theft could nudge a business towards severe debt. If a worker is harmed on the job, the employer will face medical and legal fees. Workman's comp insurance, which is required at varying levels by state, will provide a safeguard to the company.

Cost of no insurance

In September 2007, the Bureau of Labor Statistics issued a report detailing employee compensation. On average employers paid $28.03 per employee per hour. Of these costs, approximately $2.35 (8.4 percent) of total compensation went towards life, health and disability insurance - a nominal expenditure when compared to the cost of disputing or paying on a claim.

Lawsuit expenses alone can vary radically depending on several variables such as the type of claim and whether it was filed by a customer or an employee. Employers can count on spending a significant amount to defend the case. Typically costs and procedures include:

* A summons and complaint filed against the company, which results in several meetings and attorney fees, including consultation, transcript and research costs, all billed at an hourly rate.

* The claim will then progress to the deposition phase, which entails a settlement conference and a trial date. In addition to the billable hours and other various fees, the attorney will also bill for the deposition paperwork.

* During the trial, the attorney charges hourly and there's no telling how long the trial could last. It could go from several days to several weeks. In addition to the hourly fees, the defendant is also being billed for various legal fees.

* Legal fees can include transcript fees, witness fees, court reporter fees, consultation and deposition fees, research fees and mailing fees.

In the event the employee wins the case, the defendant - the employer - will brunt the burden of not only paying the settlement, but also any medical, attorney and other expenses the prosecuting party has incurred. For those organizations operating without insurance, this can put them at risk of going into major debt or bankruptcy.

In one 2004 workers' compensation case in California, a wood products company was ordered not only to pay its employees medical expenses, but also entitled the employee to, "...medical treatment as is reasonably required to "relieve" from the effects of his industrial injury, even if such treatment will not "cure" that injury..." In effect, the company will be paying for medical treatments indefinitely. The company did, however, have insurance coverage and did not have to foot the bill.

In a separate case, in 2006, an employee who suffered industrial injuries to the neck in the form of fibromyalgia was awarded payment of medical costs, in excess of $14,000, disability reaching nearly $100,000, plus life pension, which paid just over $45 per week.

Protecting assets

Insurance protects businesses against more than just worker-related claims. It can also cover disasters such as fires, natural disasters and theft.

According to a recent article in the Los Angeles Times, compensation awards to victims are now being determined for the recent Metrolink train crash in Chatsworth, Calif. and it's expected the awards could easily exceed the $200-million cap Congress implemented on railroad liability in any one accident. If the cap is removed, Metrolink will be in an extremely vulnerable position.

While most businesses will never experience a disaster of this magnitude, insurance coverage beyond workers' comp insurance may be necessary in ensuring the organization's assets are protected. A workers' compensation insurance quote should outline what coverage will include. From there the business owner can determine whether additional liability insurance is needed. Typically, liability insurance coverage includes:

* Legal costs - general liability insurance will cover litigation costs such as attorney and witness fees, as well as settlement payments.

* Medical costs - insurance will cover medical costs for individuals who may have been injured on company property, this includes employees as well as customers.

* Property damage - insurance will cover fire, theft or other incidents that damage the assets of the business. It insures the company from physical damage to the property as well as the customer's property.

* Business interruption - insurance will cover the business in cases of major disasters, such as a fire, that render the business inoperable. If the business is unable to operate, the insurance would reimburse the company for its losses and the profits that would have been made during that time.

Business operators should shop recognized, established insurance providers to find the best coverage for their needs and the best price for their budget. All companies can provide general liability and workers' compensation insurance quotes to help businesses budget for the expense.

References:

www.bls.gov/ect

http://www.dir.ca.gov/wcab/wcab_panel.htm

http://www.dol.gov/esa/owcp/energy/regs/compliance/weeklystats.htm

"Metrolink collision; Liability cap could be tested," Los Angeles Times. Page 3. September 17, 2008. By Carol J. Williams

James Cochran is the founder of Techinsurance. Since 1997, Techihsurance.com has been providing high quality professional liability insurance at a reasonable price to IT firms across the nation. They quickly became a leader in providing business liability insurance, and have since maintained their position as one of the top IT business insurance providers.

EIFS - How Synthetic Stucco Can Cause Huge Damage to Homes Across America

By Russell Longcore

IF you have EIFS on the exterior of your home, you likely have significant water damage all over your home and may not know anything about it.

The acronym "EIFS" stands for "Exterior Insulation and Finish Systems." Most people call it "stucco," although it's not true stucco. It's synthetic stucco. In this article, the terms EIFS, stucco and synthetic stucco will all be interchangeable.

There was an article in the Atlanta Journal Constitution on November 4, 2008 about Post Properties, headquartered in Atlanta. Post owns apartment complexes all across the USA. Post will spend $40 to $45 million dollars repairing over 11,000 apartments that have water damage due to improperly installed EIFS.

"This is a construction method that was prevalent in the 90s. We don't use it anymore," David Stockert, Post's CEO and president, told analysts Tuesday. Stockert also said that very little of the damage will be covered by insurance.

$45 million is just a drop in the bucket compared to the damages to single family homes across America that are covered with synthetic stucco.

Over the last twenty years, MILLIONS of single family homes were built using stucco as the exterior finish. Stucco looks great, is easy to install, has great energy-saving features and can be made to look like stone and other masonry finishes.

However, in my own experience as a claims adjuster, I've seen very little residential stucco that has been installed properly. Nearly every EIFS-clad house I've ever inspected had water, mold and termite damage behind the stucco. Sometimes the damage is so extensive that the houses have to be condemned and torn down.

I spent lots of time handling claims for Construction Defect liability that involved stucco. I don't know of any single building material that has been responsible for more builder bankruptcies in America than stucco. And, as the stucco product ages, more and more home damages are being discovered.

I remember inspecting a huge, three story wood framed, stucco exterior home in a golf course community in Athens, Georgia a few years ago. The owners discovered the damage when the wife walked over to a dining room bay window and her foot fell through the wood floor.

There was water damage on all four sides of the house, and around every door and window opening. Worse, the water behind the walls made the perfect breeding ground for termites that had been eating the house for a long time. The estimate I wrote was for $439,000, and the home was valued at about $500,000. The house was demolished and rebuilt on the foundations. The builder's liability insurance paid the claim. The new house DID NOT have a stucco exterior.

EIFS manufacturers issue shop drawings that builders are supposed to use when installing EIFS. They specify that flashing must be used around ANY door or window opening. "Flashing" are formed metal pieces that keep the water from getting behind the stucco. But in millions of homes, the builder simply butts the stucco up against the outside of the window or door, smears on the stucco finish, and seals the joint with caulking. It saves installation time and the cost of the flashing.

It doesn't take too many months for exterior caulking to crack and separate. Once that happens, water gets behind the stucco every time it rains.

So, when water gets behind EIFS, it gets trapped. Lots of homes have a layer of "housewrap," or plastic sheeting as a vapor barrier under the stucco. But vapor barriers that keep moisture out also keep moisture in. When water gets trapped behind the EIFS, it creates the perfect habitat for termites...food and water. They'll stay until the food and water run out.

Termites can destroy a home unprotected by pesticides. However, termites can also damage or destroy a protected home. Termites only need THREE THINGS TO THRIVE:

1. Access...a way to get in.

2. Moisture to drink.

3. Food...which in an average house is wood. Walls, floors, plywood, trim, windows, doors...all wood products are on the termites' menu.

The other big problem for stucco is that builders ran the product down the side of the exterior wall and then landscaped up to it. Stucco that comes into contact with the ground makes it super easy for termites to invade without detection.

Why am I telling you this about your stucco-covered home? Because your damage will likely NOT be covered by your homeowners insurance policy. Wet Rot is excluded in your homeowners policy. The standard HO-3 policy also has exclusions for damage caused by insects. The policy also excludes damage caused by mold and mildew, commonly found where the water damage is.

I urge you to have a home inspector or contractor inspect your home. Look carefully at the outside trim around your doors and windows. If you cannot easily see a metal flashing between the stucco and the door or window trim, your stucco was improperly installed by the builder. The chances are overwhelming that you have interior water damage all over your home.

The final insult is that you likely can't sell your home without making the repairs first.

If you find damage, and your insurance company denies coverage for your damages, you'll have to notify the builder who built your home that you're making a claim against his Liability insurance policy. I recommend that you consult an attorney as you begin the process.

EIFS, improperly installed on ANY building, causes nothing but nightmares and financial ruin. Don't be a victim...find out your rights and fight hard!

Copyright 2008 by Russell D. Longcore P.S. I wrote a book that YOU need! check out: http://www.insurance-claim-secrets.com NUMBER ONE at Amazon.com in its category! My blog is at: http://insurance-claim-secrets.blogspot.com/ Nominated for Georgia Author of the Year Award 2008

The Importance of Owners Title Insurance

By Cindy Bishop

There are two types of title insurance, lender's coverage and owner's coverage. Lender's coverage protects the lender in the event their interest in the property is jeopardized by an unpaid lien or encumbrance or by a challenge to the owner's title. Lender's coverage is mandatory on most mortgage loans.

Owner's title insurance is optional. Owner's coverage is the cheapest insurance a buyer will ever purchase. It protects the buyer's interest in the property for as long as he owns it. If someone challenges the buyer's title or if there are any liens that should have been paid off before closing, the title insurance company will defend the buyer's title at no cost to the buyer.

Sometimes at closing, buyers will be tempted to opt out of purchasing the owner's title portioin in order to save a few hundred dollars. Many times, the loan officer or real estate agent will even encourage a buyer to forgo purchasing this vital one time payment insurance.

We've all heard the saying "penny wise and pound foolish". It means that some people will do anything to save a few dollars today only to end up paying a whole lot more down the line. Any buyer who chooses not to purchase owner's coverage is being penny wise and pound foolish. Owner's coverage, unlike most other insurance, involves a one-time premium. The amount of the premium is based on the value of the property and may vary slightly among title companies. As mentioned previously, the coverage is good for as long as the buyer owns the property.

Most title insurance companies have a simultaneous issue option. If a buyer opts to purchase the insurance on the day of closing, he will receive a discount on the lender's policy. So, buyers should make sure to ask the closing company or attorney what the simultaneous issue rate is for the title insurance company through which they write their policies. Keep in mind that if a buyer chooses not to purchase owner's coverage, he will be required to pay the full premium for the lender's policy.

Title insurance companies also offer reissue rates for refinances. Reissue rates allow a borrower to pay for coverage on the difference between the value of the original lender's policy and their current loan amount.

Depending on the internal procedures of the title company or closing attorney, a buyer will either receive his owner's policy at the closing table or via U.S. mail a few weeks after closing. The owner's policy should be kept in a safe place along with the deed to the property as it is the only original. In most states, attorneys and title companies are only required to keep files for seven to ten years. So, if an issue arises years later, a copy of the title insurance policy may not be available from the attorney or title company because they may have already disposed of the closing file.

If it becomes necessary to file a claim, the title insurance company contains the information needed to begin that process. Be prepared to provide the title company with a detailed explanation of the claim and any supporting documentation.

Copyright © 2008 Bishop Realty Services All Rights Reserved.

Cindy Bishop, Broker, CRS, GRI, CSP Bishop Realty Services, Virginia office Visit us at http://www.buyingforeclosuresvirginia.com or http://www.greatforeclosureinvestor.com

Probable Loss and the Law of Large Numbers

By Sarah Martin

A Large, Homogeneous Group of Exposure Units

To facilitate the prediction of the probable loss through use of the law of large numbers, it is essential that there be a large number of similar units exposed to the same peril. If a company can insure only ten houses against damage by fire, very little prediction is possible. As noted in the discussion of the degree of risk, the larger the number of units involved, the less deviation there will be in the actual experience.

It is absolutely essential that there be a large group of exposure units. Not only is a large group of units necessary, but the units must be similar. In fire insurance, there must be a large number of similar properties. It is not possible to predict losses if the subjects for insurance present a hodgepodge of structures of various constructions, usages, and values. In life insurance, there must be a large number of persons in each age, health, and occupational classification.

Definite Loss

The loss must be difficult to counterfeit. Death, perhaps, comes closest to perfection in meeting this requisite. Death is so difficult to feign that few insureds will attempt it which is a big reason why so many different types of life insurance are available. Only in cases in which the insured has disappeared can there be a suspicion of something other than death. In sickness insurance, however, it is sometimes difficult to tell if a loss has occurred. During the depression, it was found that sickness claims greatly increased.

Persons who could not find jobs either worried themselves sick or else, in order to collect benefits, decided to say they were indisposed. Inability to distinguish between real and fraudulent claims was in part responsible for the receivership of several insurance companies which wrote extensive amounts of disability insurance during the 1920's and the 1930's.

Disability insurance contracts today are much less liberal on the average than they were thirty years ago because of the adverse experience the companies had in those trying days. Companies are more careful both as to the kinds of disability contracts they will write and as to the people for whom they will be written.

Accidental Loss

The loss must not only be definite, but it must have been accidental, as distinguished from expected. Ideally, the loss should be beyond the control of the insured. Depreciation losses, for example, are uninsurable, since there is nothing accidental about their occurrence. Or if someone is killed in an unexpected accident at a younger age than expected, there are certain life insurance policies that compensate for that kind of tragedy.

These losses are expected. Also, when mercantile theft insurance is written, normal shoplifting losses are not covered. In credit insurance, normal credit losses are not covered; only the unexpected losses are insured. Death meets this requisite because, although death is certain, the time of death is uncertain.

Large Loss

The hazard to be insured against must be capable of producing a large loss which the insured could not pay without economic distress. Insurance against breakage of shoestrings is unknown. The loss involved is so small that it is not worth the time, effort, and expense to enter into an insurance contract to indemnify the loss. (And insureds would likely be furious at the company, since most shoestring breakage is due to wear and tear, which would not be covered by the policy.)

This example is a reductio ad absurdum, of course; but it illustrates the principle. There are, nevertheless, many coverages sold which insure small losses. Hospital policies which promise benefits of less than $150 although costing $15 a year are certainly in the small-loss class for many persons.

Automobile towing charges, with limits of $10 per disablement, seem to most insureds to involve such small losses as to make insurance inadvisable. It is uneconomic for a person to insure the small losses which he can very easily pay himself, for the cost of insurance includes not only the loss cost but also a rather substantial margin for expenses.

Sarah Martin is a freelance marketing writer based out of San Diego, CA. She specializes in finance, business, and different types of life insurance. For free quotes on a variety of life insurance policies, please visit http://www.equote.com/.

Insurance Probabilities

By Sarah Martin

Economically Feasible Cost

To be insurable, the chance of loss must be small. The cost of an insurance policy consists of the pure premium, or amount actually needed to make loss payments, and the expense portion. If the chance of loss approaches 100%, the cost of the policy will exceed the amount that the insurance company is obligated to pay under the contract.

For example, it would be possible for a life insurance company to issue a $1,000 policy on a man 99 years of age. The net premium alone, however, would be about $980, to which would have to be added an amount for expenses which would bring the premium total to more than the amount of insurance. To make life insurance rates attractive, the premium has to be far less than the face of the policy.

Chance of Loss Must Be Calculable

Some probabilities of loss can be determined by logic alone-for example, the probabilities involved in the flip of a coin. Others must be determined empirically, that is, by a tabulation of past experience with a projection of that experience into the future.

All types of insurance probabilities are determined on an empirical basis. There are some chances of loss, however, which cannot be determined either by logic or from past experience. Unemployment is an example. Unemployment occurs with such a degree of irregularity that, as yet, no one has succeeded in working out a method of determining its future incidence.

This is one reason why unemployment insurance is not sold by private insurance carriers. If there are no available statistics on chance of loss, it is impossible to predict losses, in spite of a large number of exposures.

Unlikely to Produce Loss to Majority Simultaneously

No insurance company can afford to insure a type of loss which is likely to happen to any great percentage of those exposed to it. True, life insurance companies insure their policyholders against death even though it is well established that every one of them will die eventually.

The life insurance company is really insuring its policyholders against premature death. Its rates and reserve accumulations are fixed in such a way that it can pay claims as the claims mature without causing financial hardship to the company.

If all the policyholders of a life insurance company should die prematurely, this company would be just as bankrupt as would a fire insurance company whose policyholders all lost their houses by fire.

Unemployment runs aground on this last barrier, too. Those individuals whose jobs were secure could never be sold unemployment insurance. Prospective customers would be drawn solely from those who felt their employment situations to be insecure.

When a business recession occurred, hosts of the insureds would lose their jobs at the same time. It would be equivalent to a life insurance company having a large percentage of its insureds die at the same time.

Insurance is an arrangement whereby the unfortunate few who lose are indemnified by the fortunate many who escape loss. Particularly those whose financial well being depends on it, which is often the case with the families of term life insurance policyholders. If the many, however, suffer the loss, then the few will prove inadequate to indemnify them properly, except at an uneconomic premium.

In order to guard against catastrophic losses, fire insurance companies, for example, seek a wide distribution of exposures and set up underwriting standards which prohibit the concentrations of business in small sections of a city. They also put a clause in their policies excluding losses due to wars, thus relieving them of the danger of catastrophic losses resulting from atomic warfare.

Sarah Martin is a freelance marketing writer based out of San Diego, CA. She specializes in business, finance, and term life insurance. For free life insurance rates, please visit http://www.equote.com/.

Sports Related Accident Claim

By Reethi Rai

Many of the sportsmen suffer from various kinds of injuries while playing. Injuries are certainly unavoidable while playing. However, by exercising appropriate safety, one can try to avoid the injuries. If a sportsperson still meets with an accident, one can make a claim.

Thousands of sportsmen suffer from various kinds of injuries due to foul or negligent play, inadequate instruction or supervision, unexpected violence or unsafe facilities. If you have suffered from such injuries, sports related accident claim can help a victim of an accident get suitable compensation.

Over a period of time can such injuries can affect the career of the sportsmen. It is advisable to take all the precautions. In case, you have suffered an injury due to the negligence of somebody else, you can benefit form these claims.

You no more have too fear losing out opportunities owing to injuries. These claims will help you get instant relief from any kind of sports injury. Sports facilities, leagues, teams and referees are supposed to cover any risk that sportsmen may be exposed to. If they fail to do so, you can make a claim for it. You can also approach sports injury lawyers who will fight your case and help you win claim easily. They will study your case in depth and suggest a suitable solution for your kind of situation.

If you have been a victim of Achilles tendon, hamstring injuries, broken bones, knee, groin, elbow, neck and muscular injuries, you can make a claim for it. In fact, such injuries are very common amongst sportsmen. You are very entitled to compensation for the injuries suffered.

Benefit From Accident Claim Information and Advice!

Accidents happen every day and result in thousands of people suffering personal injury every year. In most of the cases, accidents result due to the fault of the other person. Some common types of accident which may occur are:-

Road traffic accidents - injuries to vehicle occupants, pedestrians, cyclists

• Accidents at work including industrial diseases

• Accidents in public places

• Injuries caused by defective goods or products

• Medical or dental negligence

If you have been a victim of any of these kinds of accidents, you can get compensation. It is likely that you may not have a fair idea about the claims process. In such a situation, you can benefit from accident claim information and advice. You can get all the required information on claims procedure.

Compensation is payable under various headings such as pain and suffering, financial loss eg. loss of wages, medical or other expenses incurred loss of future earnings, loss of amenity. In order to claim successfully it will be necessary to prove that the person was negligent and that the negligence caused the accident resulting in the injury. 100% personal injury claim can also help you get compensation for the injuries suffered.

Reethi Rai, Expert Author

For more information: Accident claim information and advice 100% Personal injury claim