Why Consider Mortgage Unemployment Insurance?

By Sean Horton

With 2008 becoming the year of the 'credit crunch' and literally hundreds of thousands of people in the UK subsequently losing their jobs to redundancy, mortgage unemployment insurance is something that anyone who has a mortgage must have least considered.

And even in times when the economy is stable, redundancy is still a very real threat, so the idea of still being able to continue maintaining your mortgage repayments, even though you have lost your income due to involuntary redundancy, is invaluable. And, quite simply, this is what mortgage unemployment insurance does.

Should you be made unemployed through no fault of your own (and this does not mean should you get fired or dismissed due to misconduct or you elect to take voluntary redundancy) then the mortgage unemployment insurance - also known as mortgage payment protection insurance, or MPPI - will start to pay a tax free benefit. This monthly benefit can be used towards meeting your mortgage commitment every month as well as related costs such as life, critical illness and home insurance premiums, up to a provider's set limits.

By having this benefit, you will be able to still service your mortgage debt and not worry about getting in to arrears or even, in the worst case scenario, having your home repossessed. At a stressful time, having at least some of the financial worry taken away will mean you can focus on getting alternative employment and not be under pressure worrying how to pay your mortgage.

A typical mortgage unemployment insurance policy will start to provide an income from 30 to 90 days after you are made unemployed. This varies on the individual policy terms and conditions, as does the length of time you can receive the benefits (which can be for up to 12 to 24 months, or when you find new employment, whichever is the sooner).

How much you receive will have been agreed at the time you took out the mortgage payment protection insurance cover and this will be reflected in the premiums you will pay which will be x amount for every £100 worth of protection you require. By shopping around for your mortgage payment cover, you can often find it an affordable price, particularly among the independent brokers.

Also, for an additional fee, you can add on accident and sickness cover to the policy (that is why you may sometimes hear it called by the term Accident, Sickness and Unemployment Insurance - or ASU for short). That means that should you lose your income due to involuntary unemployment or due to recovering from an accident or a prolonged illness, the policy will start to pay out the benefit to give you financial assistance at a difficult time.

When choosing your mortgage unemployment insurance, do check that the terms and conditions very carefully, especially for any exclusions which would render the insurance useless. Typical exclusions will include the policyholder being in part time employment or of retirement age. If you are unsure as to whether you would be eligible to claim on your insurance, speak to your broker.

Sean Horton is a Director of Enhanced Wealth who offer competitive mortgage insurance cover for mortgage repayment insurance and mortgage unemployment insurance

Are Registered Massage Sessions Covered by OHIP?

By Amy Nutt

All different types of massage can be beneficial in helping with many different types of aches and ailments. Sports massage, deep tissue massage and therapeutic massage can reduce back and neck pain, relieve stress and speed up the recovery process after surgeries and injuries, but without medical coverage the burden of cost can be too much for some patients to be able to afford.

Will I be Covered?

This is a common question because of the fact that massages can be so beneficial, but also so expensive. Unfortunately, the short answer seems to be that most registered massage sessions will not be covered by OHIP.

There are potentially some cases where massage may be covered, but there are some very specific requirements that must be met in order for the patient to be eligible for coverage: factors like the age of the patient, the nature of the injury being treated and whether or not the clinic administering the massage is registered as a designated physiotherapy clinic.

What's the Difference between Physiotherapy and Massage?

A hundred years age there wasn't a great deal of difference between a physiotherapist and a licensed sports massage therapist - both provided an almost identical rehabilitant service, but today's licensed physiotherapist actually use very little, if any massage, techniques in their treatment and rehabilitation of injuries and ailments.

In the past, sessions with a licensed sports massage therapist would very likely have been covered in full, but with recent changes to coverage under OHIP, coverage only pertains to a limited number of sessions with a designated physiotherapy clinic under the guidelines of eligibility.

Who's Covered?

With the new rules of coverage in place, in most cases, any patient over the age of sixty five or under the age of nineteen that needs physiotherapy sessions will have coverage up to a predetermined number of sessions. All residents of long term care facilities or nursing homes, regardless of age, who require physiotherapy will have coverage up to a pre determined amount of sessions in a calendar year; and anyone needing physiotherapy sessions in their home after having been hospitalized, regardless of age, will be covered up to a pre determined number of sessions.

Under these new rules, anyone not currently living in a long term care facility or anyone not having been recently hospitalized, between the ages of nineteen and sixty four, will not be covered for any massage or physiotherapy sessions, even if the physiotherapy clinic is on the designated list on the OHIP website.

Therapeutic, sports, hot stone and shiatsu massage can all bring with them a host of benefits to the recipient, unfortunately very few if any of these sessions are eligible for coverage by the government under the news policies of the OHIP. Of course, residents are still more than welcome to participate in sessions by any licensed massage therapist, but in doing so they should be prepared to pay for the services out of their own pocket, without the hope of reimbursement from the government.

If you need to schedule a massage session for rehabilitation and are hoping that yours is one of the cases that will be eligible for coverage, make sure that your case meets the requirements above and also make sure that the clinic you are planning on visiting is on the designated list available on the OHIP website.

More detailed information regarding exact situations and types of services, answers to frequently asked questions regarding when and why the coverage was changed and the list of designated physiotherapy clinics that are part of the network can be found by visiting the OHIP website.

Upscale health studio provides Toronto Massages. Unwind and rejuvenate with a massage in our elegant décor and friendly environment.

Choosing an Insurance Company - What to Consider Other Than Price

By Amber Stahl

Buying insurance is buying a promise that you will be taken care of and financially compensated for at the time of your need. While cost of the policy is an important factor, there are aspects other than price that should be considered when choosing an insurance company.

1. Rating of the company Insurance companies are rated by rating agencies based on their financial strength. You want to choose a company that is financially strong to ensure they have the means to pay you when you file a claim.

2. Reputation of the company Are the current customers happy with the company? Go to your state's Department of Insurance website and check out the percentage and nature of complaints filed against the company.

3. Coverage and terms Does the company offer the coverage that you need? Are the terms, deductible, co-pay.. etc, compatible with your financial situation? Over-insuring is unnecessary and expensive since your monetary recovery is capped at the fair market value of the item insured. Under insuring, on the other hand, leads to financial distress due to inadequate coverage.

4. Who will be servicing your claims? Does the insurance company service their own claims, or do they outsource their claims handling? The difference is often reflected in the level of service and customer care.

5. Do they reward royalty? If you get into a car accident, is the company trigger happy to increase your premium, or will they reward customer royalty and implement accident forgiveness?

Buying insurance is buying a promise that you will have the financial resources you need on a rainy day. Therefore, it's important to consider all factors and select a company that has the means and desire to take care of you at the time of your need.

Income Protection Insurance - Have You Left it Too Late?

By Dennis Haggerty

"You have left it too late." Thousands of people are hearing this every day and experiencing that sinking feeling when they realise something once so freely available, is now denied to them. People without savings or perhaps with less than 2 months wages in the bank (that's the majority of people of working age) were able to buy Income Protection insurance very easily. This insurance policy provides a financial lifeline for them and their families if their income is interrupted by Unemployment, Accident or Sickness. Its seems almost overnight that people who were considered the best clients of insurance providers, typically banking and financial services, are now struggling to find cover. They have joined people in the building trades and estate agents who were in the first wave of occupations to fall victim of the credit crunch. We are now seeing the impact of the wider recession.

Take cover

For families and individuals with minimal savings, it will be vitally important for them to move quickly before their sector is the next to suffer the same fate. For many it is only a matter of time before either Mortgage Payment Protection Insurance or Income Protection Insurance is denied to them as well.

One in ten jobs in the UK rely on the retail. It does not take a genius to calculate that the retail sector will see significant contraction and job losses, particularly those handling big ticket items or discretionary purchases. Think in terms of the bad news already filtering through about a down turn in car sales, kitchens, and furniture. After all, most people can put off big purchases, especially as the property development frenzy of recent years peters out.

Engineering is another where shrinking order books see managers beginning to check their company redundancy terms. This may prove to be a precursor to one of many 'difficult conversations' with employees. Indeed, they may find they are soon to join their fellow ex-employees looking for alternative work.

For the majority of people in Britain, money for savings simply does not exist. Up until now this has not been a problem as jobs were plentiful. Unless signed off from work on a long term basis following an accident or due to sickness, being out of work was very temporary indeed. How long can people expect to be out of work as Britain falls into recession? Though everyone will have a different experience, any job search is guaranteed to be much harder than it was last year.

6 months to get another job

In the spring of 2008 a specialist consultant working with ManPower, who asked not to be named, was advising his white collar clients they should think in terms of 2 - 3 months between jobs. He is now saying think six months or more and this will just be for temporary contracts. The Telegraph (10.10.08) were reporting a contraction in full time posts in the UK with the number of temporary vacancies still holding up. The selection and interview process for any job is far more intense and time consuming than in the past. One thing is for sure, it is not going to get easier and the competition for the few full time jobs available will be very tough.

Financial meltdown can be avoided

Check out the Web to search on Income Protection or Lifestyle Protection (very popular alternative name that used by the Post Office for example). Money Supermarket has a buyers guide and price comparison. People who try on-line quotations and find they have issues with acceptance criteria due to their occupation may need to approach a specialist broker instead.

Just don't leave it too late and be forced to join the increasing numbers facing financial melt down who have nothing to fall back if their wages stop rolling in.

iProtect offers competitive Income Protection Insurance and Lifestyle Protection Insurance to protect your family, your home and your income.

Is Pet Health Insurance Or Rental Insurance Right For You?

By Timothy Simmons

If you are considering pet insurance or rental insurance you may have a lot of unanswered questions. Is rental or pet insurance worth the cost? What do they cover? Or is it even necessary? Because pet insurance is not quite as well known as its human health insurance counterpart, you may have a lot of questions. The same may be true for rental insurance, whereas the necessities of home insurance are obvious, rental insurance isn't. We will take a look at both.

Pet insurance, as the name implies is health insurance for your pet. With the costs of veterinary care, rising as quickly as human health care, pet insurance makes a lot of sense. Essentially, pet insurance provides protection for your pet against accidents or emergencies, and illnesses. The cost of pet insurance can vary widely depending on the type of plan you choose. Just like health insurance, if you have a higher deductible, and a less comprehensive policy, you can save some money. In all actuality, when compared to human health insurance, pet insurance is rather affordable. For as little as $30 a month you can have a rather decent pet health insurance policy.

When it comes to utilizing your pet insurance policy it is quite a bit easier than the health insurance you're probably used to. You don't have to choose your pet's doctor off of an approved list. This allows you to stay with the veterinarian that you are comfortable with. After services are rendered, you pay for treatment, and then the pet insurer reimburses you. What your pet health insurance covers is based on how much insurance you have in place. If you have a comprehensive plan that covers everything from routine office visits to medications, you'll probably pay a bit more. So it's important to determine how much pet insurance you not only need but how much insurance you can afford.

Pet insurance does have some issues that you should consider before purchasing. Some insurers will provide limited coverage, which means you may be capped out at a particular amount. You may be restricted when it comes to seeing expensive specialists. Some dog breeds may be more expensive than others. If your dog's breed is more prone to a particular disease or problem, you'll pay more. If your pet is older, pet insurance will be more costly, for obvious reasons.

When buying pet insurance you will want to choose a quality insurer. Insurance companies are notorious for finding loopholes to get out of claims, when they are needed most. Not only do you want an insurer that will be around for you when you need them, but also you'll want them to cover what's needed. Saving a few bucks by going with the cheapest insurer just isn't worth the headaches.

To touch on rental insurance briefly, we'll cover a few basics. Renters insurance is much like homeowners insurance, in that it protects you when renting an apartment or a house. Many individuals go without rental insurance, thinking that it's their landlord's responsibility. This is not a very good approach. Yes, the buildings structure is insured for your landlords benefit, but not your belongings. Rental insurance protects your belongings from theft, fire and other natural disasters. And much like homeowners insurance, rental insurance also protects in the form of liability protection. This means that if a guest as an accident at your apartment or home, you won't be held responsible. For this reason, many landlords are now making rental insurance mandatory. This provides them with the liability protection that they are looking for.

Much like pet insurance, rental insurance is very affordable. We have seen rental insurance for as low as $15 a month. Now, this is for a basic policy, but in many cases, it gets the job done. Things like your deductible, whether you own a pet, and how much coverage, will affect your premium. Make sure to take an inventory prior to getting rental insurance, this will help with any ambiguity with the insurer, if you need to make a claim. Also, the importance of understanding or policies features is a must. Have your agent or insurer explain any policy features or drawbacks that you may have questions about. And go with a decent insurance company that you can rely on.

If you're interested in pet health insurance you can find more information on the site. For more details on rental insurance for your apartment or home you can more info on that too.

Liability Insurance and Risk Management

By Pamela Weaver

Every business in today's market should not be without liability insurance and risk assessment. It is very important for any type of business to take these precautions to ensure they are not at a major risk that could be detrimental to the business. There are many factors that should be considered when thinking about liability insurance and risk assessment for any company.

Liability insurance is designed to offer specific protection against third party claims, such as if payment is not typically made to the insured, but rather to someone suffering loss who is not a party in the insurance contract. Under liability insurance policies, generally damage caused intentionally and contractual liability is not covered. When a liability claim is made, the insurance carrier has the right to defend the insured.

The legal costs of this are not always affected by the policy limits, which is useful because they can be substantial when long trials are held to determine a fault or the amount of damages. Overall, liability insurance covers companies that may come into contact with claims made against them.

Risk assessment is the purpose of quantitative or qualitative value of risk related to a solid situation and a recognized threat. Quantitative risk assessment requires calculations of three components of risk, the magnitude of the potential loss and the probability that the loss will occur. Assumptions and uncertainties are clearly considered and presented and defined as a formalized basis for the objective evaluation of risk in mind. Risk assessment is an important, but difficult, step in the risk management process. The steps to properly deal with these risks are more formulaic, once risks have been identified and assessed.

Part of the difficulty of risk management is the measurement of both of the quantities in which risk assessment is concerned- potential loss and probability of occurrence- can be very difficult to measure. The two main categories for risk can be A risk with a large potential loss and a low probability of occurring and a low potential loss and a high likelihood of occurring. These may sound very similar, but are treated very differently as both produce very different results.

So any business that has forgotten about these two issues should start recognizing the need for them in any type of company especially with the financial climate the way it is, uncertainty may be on the cards for more than just the banks. For liability insurance and risk management contact Hamilton Robertson.

E&O Insurance For Your Small Business

By David W Judge

Do you own a business which provides a service to your client for a fee? If so, you have an E&O (Errors and Omissions) exposure where your company can be sued for mistakes or omissions that result in financial losses for a client.

Also called "Professional Liability" or "Malpractice" insurance, Errors and Omissions (E&O) insurance should be considered by companies and individuals who work with clients in the areas of consultation, service providers, design or sales.

What is E&O insurance? It is a separate insurance policy that provides your business insurance coverage to cover judgments, settlements and defense costs that can result from errors (or omissions) that you have made or that a client perceives you have made. Even if the allegations are found to be groundless, thousands of dollars may be needed to defend the lawsuit.

Do you need an E&O policy? The most well know professionals who need E&O insurance are doctors, lawyers, accountants, architects, and engineers, etc. However, if you provide a service to your clients for a fee you too have an E&O exposure. There are hundreds of businesses that fall under this category and range from wedding planners to advertising agencies.

Does your general liability policy cover E&O losses? General liability policies do not provide E&O coverage. A general liability policy does not provide coverage for errors, contract performance disputes or any other professional liability issue.

What should you look for in an E&O policy? E&O insurance helps protect you business in two vital areas. The first are attorney fees. Many times the cost to defend an E&O claim is more costly than the settlement itself. Even if you are sued with a frivolous law suit you still have to pay for your legal defense. Most E&O policies provide defense cost for your company up to the coverage limit on your policy.

The second vital area of coverage is to pay the amount of any settlement you would pay if found at fault. Presume that you are a wedding planner and you are to plan a wedding for June 11th but for some reason there is a mix up and you reserve the reception hall, band, caterers etc, for June 4th instead. On June 4th the band, caterers etc. all show up at the reception hall to find no one there, who pays? This is exactly what an E&O policy covers.

E&O policies vary from company to company so you need to make sure that your policy provides adequate coverage for your particular business. Cost for E&O policies also vary greatly depending on the class of business, location, claims experience etc. You should contact your local agent to discuss your business E&O exposures and determine if an E&O policy is right for you.

For more information and to receive an online instant quote for your business go to http://www.QuoteItNow.com

Why Does a HGV Owner Need to Have HGV Insurance?

By Stanley Headley

Accidents involving HGVs are becoming more and more common. There is no shortage of HGV accidents on the rainy and fogged UK roads. Some slide off the road before turning upside down. Others hit or get hit by other vehicles on the road, causing severe damage. The impact of HGV accidents have got serious financial and business implications as these vehicles are employed to transport heavy goods and other objects to faraway destinations

These factors necessitate HGV insurance. In fact, these factors make insurance a necessity. HGV insurance means "peace of mind" for both the HGV owner and their client. It is an insurance policy where the owner, i.e., the insurer pays a certain amount of money that he usually does not get back. This amount of money is paid to cover for damages caused by certain unforeseen happenings. The nature of these happenings and the nature of the damages covered vary greatly, according to the category of coverage that has been opted for.

Insurance is one of the most important financial umbrellas that help us to sail smoothly through life. A business involving HGVs is no exception. Yet, there are many HGV users and owners who tend to overlook and underestimate the importance of HGV insurance.

HGV insurance can be confusing, expensive and can involve quite a few technicalities. But it is imperative to be adequately educated about the basics, so that you do not find yourself caught in the middle of an unpleasant situation.

Be clear about how much you need

A HGV owner often tends to overlook some factors that are essential. If you have the money to get a particular cover that will protect you against a potential menace, it is better to purchase the protection. The money you spend today could come to your aid tomorrow. Unnecessarily underinsuring your HGV would mean abnormally high expenses in future, in the event of some severe unforeseen incidents. Generally a HGV needs more insurance than what its owner thinks, both in terms of coverage levels and nature of insurance.

What insurance does your HGV need?

The type of insurance and the amount of insurance your HGV needs will depend on the nature of the HGV's operations, the types of goods the HGV hauls and the nature of your business.

Is HGV insurance worth it?

HGV owners often think that insurance is a waste of time and money, as they would never make a claim. Never claiming on your insurance is an excellent achievement. But can you really guarantee it?

How do you know what is going to happen to your HGV the very next moment?

You must have a reliable HGV insurance policy, as it will protect the business tool that you value the most. Moreover, it can protect the goods that your client has entrusted you to transport. If any incident should happen to the HGV or to the goods being hauled, adequate compensation will be provided to cover all damages.

You can understand the real worth of and the need for HGV insurance only when an unwanted situation arrives.

Staveley Head are a fast growing independently owned insurance broker based in the UK and offers HGV Insurance with huge savings being passed onto the customer.

Is Cheap HGV Insurance Possible?

By Stanley Headley

HGV owners often get apprehensive about purchasing HGV insurance. This apprehension rises from the notion that HGV insurance is extremely expensive. But that is not always true! It is not essential for a HGV owner to purchase an expensive HGV insurance that calls for a hefty premium. HGV insurance can be cheap as well. One only needs to search for the right kind of HGV insurance keeping the budget, the requirements and the nature of business in mind.

HGV owners today have the advantage of having the Internet at their disposal. The Internet contains the websites for a large number of insurance companies that spell out their terms, conditions, services and rates explicitly. These websites enable the potential customers to make an extensive and thorough search on the different HGV insurance providers. The potential customers can decide on the services they need to protect their vehicles and the rates they find cheaper. The Internet enables them to make a quick and objective comparison between the various HGV insurance providers and thus find the cheapest one. Before deciding on a cheap HGV insurance, the insurance seeker must educate themselves about the pros and cons of that policy.

The HGV insurance market offers two important choices to the HGV insurance seeker. These are Employer Liability and Public Liability.

Employer Liability protects against damages caused by an accident on site or off site. This insurance does not cover any injury-causing road accident. Those accidents are covered by the motor insurance policy of the employer.

Public Liability provides protection against damages caused to the business by the general public. This insurance only covers the employers. It has nothing to do with the protection of the employees.

Haulage Exchange is another kind of HGV insurance. It provides coverage to the goods or parts being carried by a HGV to a particular destination. It protects against damages caused by accidents, damages caused by fire, vandalism and theft. Haulage Exchange also provides coverage when an employer sub-contracts the haul of goods to other transporters.

The different types of HGV insurance policies and their various features often become confusing for HGV owners. They find the task of choosing suitable and inexpensive insurance quite tricky.

Insurance brokers play a valuable role at this point, as they have knowledge about the terms, conditions and other nuances of various insurance companies.

These brokers know where and how to contact these companies. A company, advertising itself on the Internet, will project itself as the best and the cheapest. But insurance brokers provide insurance seekers with true and impartial information. Thus brokers are often the best and the most dependable advisers when one needs to choose a suitable and inexpensive HGV insurance policy for their haulage vehicle. They help one find an appropriate insurance policy, keeping the budget, the requirements and the nature of business in mind.

Other ways of ensuring that your HGV insurance policy does not make a hole in your pocket are by possessing a flawless driving record and providing your HGV with precautionary measures like tracking devices and alarms.

Thus, cheap HGV insurance is more than possible if you know how to look for and ensure it.

Staveley Head are a fast growing independently owned insurance broker based in the UK and offers HGV Insurance with huge savings being passed onto the customer.

Price Right For PPI?

By Michael Challiner

If you're taking out any sort of loan, be it a mortgage, personal loan, credit card or an "indirect" loan such as a store card, you're likely to be offered payment protection insurance, or PPI. It is intended to cover the periodic (normally monthly) payments should you find yourself out of work, sick or injured. Normally there is a waiting period of 28 days before you can claim and payments are then made for varying periods, according to your policy, usually up to 12 months. Always read the small print of any policy - PPI is no different, there are wide variations in cover and you shouldn't rush in to anything without knowing all the facts.

There's been a whole lot of bad press regarding PPI - take the case of a store card, for instance. You may decide to take out a store card with the express intention of gaining the discount offered on the day - which is often the way in which salespersons get you hooked on to the store card in the first place. If your sole intention is to get the discount and pay the account in full as soon as possible, then you're hardly likely to need PPI, but it's amazing how many people are bamboozled into it.

PPI is an optional insurance with any type of loan and not something to be taken out regardless of circumstances. It should never be automatically included in a loan and when looking at a loan quotation, you should make sure that it's not hidden away in the small print. Ask for a quote with and without PPI, just to make sure. Chances are you'll be staggered at the cost!

Mis-selling and extremely high interest rates are the cause of the poor publicity - PPI's have been sold indiscriminately, even to those who cannot benefit fully from the cover they offer. As an example, it is no benefit whatsoever offering cover for redundancy to some-one who is self-employed or engaged in short term freelance work.

Despite all this, PPI can be a valuable tool in its place. If you would be in serious financial trouble making loan repayments were the worst to happen, then it could save a lot of worry by having some sort of insurance in place, at the right price. For instance, there's something new down at the Post Office. Following the bad press, the Post Office has obviously seen an opening for PPI and has entered the market, with a promise to offer a fair and reasonable deal.

As far as interest rates are concerned, it's possible for your loan to snowball when PPI is added. A loan of £10,000 over a period of five years can add up to a massive £16,114.40 if PPI is included. Without PPI the total would have been £11,650. Typically the APR is increased from 6.2% to 22.7%.

The Post Office Lifestyle protection policy has deeply undercut rival PPI products when it comes to cost, typically by up to 15%. This makes it a reasonable stand-alone policy. Customers can take out insurance on monthly repayments of anything from £100 to £2,500, right up to a maximum of 60% of their gross salary per month.

The Post Office is not the only place to buy a stand-alone policy, however. By logging on to an independent broker, you can find all types of insurance products, including PPI. The broker will search a whole range of insurers to find the right policy for you, to suit your own individual circumstances.

Have a look at Michael Challiner's great articles about insurance and financial matters. Insurance articles - Loans articles - Mortgage articles

The Dangers of Assuming Your Insurance Policy Covers Everything

By Lavana James

One of the most costly errors any one of us can make is to overestimate our short term insurance cover - be it on our primary residence, our car or even our own health and well being. Many of us may well rush into covering ourselves and our valuables without considering updating the policies on a regular basis and this could prove fatal.

Even if your chosen policy does protect you from rising inflation, you may find the value of your home simply outpaces it. Plus, the fact that many of us keep on collecting valuable and often priceless possessions without increasing the short term insurance cover could mean your personal property is criminally under insured.

Review the basic elements of your short term policies regularly

It is imperative that you review the basic elements of all your insurance policies on a regular basis, especially in these economically trying times. There can be nothing worse than submitting a claim only to be told you are not adequately covered.

The vast majority of property policies generally cover losses to your home, the related property and selected personal items. The provided cover for your possessions is usually worked out as a percentage of the total coverage of the house and is normally in the range of 50%.

When taking out a policy, it is important to be aware of the acts of God, or perils, that are not included in the cover. In the United States, for instance, flood damage is often not included in the overall insurance cover and home owners are encouraged to buy separate cover.

Here in South Africa, many insurance policies will not cover damages caused by riots or political turmoil and home owners have to address it as a separate issue.

Choose replacement cost cover over actual cash value

A smart move when ensuring that your possessions are adequately covered is to negate the urge to purchase a home owner's policy with extra blanket coverage for your personal items and to rather opt to buy separate, additional cover for your valuables instead.

Remember, however, to choose replacement cost cover rather than the actual cash value. The latter, although it sounds like the better of the two options, takes depreciation into account and will only pay out the calculated market value of the item instead of the cost of replacing it.

Penny wise, pound foolish

Some brokers may suggest you try and save a little on your premiums by insuring your home for only 80% of its value. The thought process behind this startling proposition is that it is most unusual for your entire home to be destroyed in one fell swoop. But this idea has its definite snags, apart from the obvious one of losing your entire home to fire, earth quake or some other natural horror.

The problem with under insuring your home is that the cost of labour and materials could very well increase and instead of the claim covering 80% of the cost of re-building, it may only cover 73% of costs. And in these turbulent times, it may be very difficult for you to source the extra 27% needed for the job.

Quick policy pointers

• Make sure your policy automatically protects you from rising inflation

• Shop around for a policy that is tailor-made for you and your possessions

• Be aware of acts of God not covered by your policies

http://www.chadwicks.co.za

Insurance Bundling

By Richard T. Tyler

As the current economy takes a plunge, tides of price-hikes hit consumer world-wide. Thus, people are beginning to be more and more creative in finding ways to decrease monthly expenses. Insurance bundling has been creating quite a buzz when it comes to cutting costs.

Cutting back by bundling up your insurance is of almost the same concept as saving cash when you go to wholesalers instead of retailers. When you buy in bulks, you are entitled to a bigger discount because you cut on operational expenses and save time for yourself and the seller. That's why in a recent study, over 70% of homeowners have bundled up with an auto insurance policy. Customers prefer to keep a long-term relationship with their insurance provider. Later on, when enough trust is built on both parties, customers can apply for extra policies like auto insurance for the other members of the family.

It saves time and money to work with only one insurance company rather than liaising with different companies for your different insurance needs. It also makes things less confusing. Aside from that, it's also more likely to get substantial discounts as you avail for more services. Research backs this up with more customers being satisfied when bundling up insurance as they renew their policies at higher rates.

Policy holders become more loyal to their company of choice and they receive additional benefits from a company that has their trust for all their insurance needs. Another study also found out that once customers have found an insurance company to work with, the possibility of them switching into another insurance provider is less likely.

Since we used the term "wholesale" to explain the general idea on why one can save on expenses by bundling up insurance, we can probably use the utilities billing system as another example. For internet, phone and cable services, you could probably have asked around on the lowest quotes for each service. In the end, you may also have found out that it's still more practical in terms of costs and time to just go to one service provider that offers the lowest package price for these three services.

Same goes with insurance policies. While rates differ with different insurance companies, their rates become even more logical when you compute the costs of the insurance packages in bulk, taking in consideration the bonuses that they offer and the discounts that come with them. Dealing with just one company also makes things less complicated as different companies have different policies and regulations. It would be harder to keep track of these differences especially in the long run when then begin to overlap. It also strengthens the relationship. You may find it rewarding to work with a company that cares for you and your family.

The best time for you to deal with different insurance companies is during the first stage-when you're still looking for that one company that can offer you the best and most suitable package with a reasonable quote. It would be better to list down what you know you need so it'll be easier for you to ask the right questions.

And hopefully, when the search is over, you'll be starting a lasting relationship with an insurance company that can give you and your family an efficient and cost-effective insurance bundle package.

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Full Insurance Online Guide

By Jizmack Baraceros

Insurance refers to a contract wherein a person gets financial reimbursement from an insurance company in case of losses. Insurance comes in many types such as casualty insurance, disability insurance, health insurance, life insurance, property insurance, liability insurance, credit insurance, car insurance, financial loss insurance, kidnap and ransom insurance, and purchase insurance. Believe it or not, there is even pet insurance.

Getting financial reimbursement is not that simple. Since nothing is free in this world, you have to pay a premium in order to be insured. The premium is highly based on the risk of loss. Aside from the premium, there are other factors affecting insurance. It is best if you take time understanding insurance, insurance policies, and everything in between before actually getting one.

Car insurance, to put it simply, serves as protection against losses in cases of accidents. For example, you hit another car while driving and both cars were damaged. Your car insurance will help you foot the bill. Usually, companies selling cars include car insurance in their sales. While packaged deals are great, it will not hurt you to look around.

Developed medical care, improved healthcare, enhanced diagnostic procedures... These may give you hope that life insurance is not exactly as important as advertised. However, the day when you start thinking like this is the day you are wrong. Life insurance serves a number of purposes. For one, it is a good income replacement. Another, it can be used for paying your children's college education. Also, life insurance can be a tool in wealth preservation.

Health is wealth. You have heard of this before and chances are you will still be hearing it years later. Health is of utmost importance; you should not take any chances with it. This is where heath insurance comes in. Health insurance may be the best way to get preventive car, nursing care, and other medical attention in cases of accidents and illnesses.

http://fullinsurance.com

The Taboo Subject of Life Insurance

By David John Martin

Life insurance is a tough subject to think about. It only takes a coastal walk along a sheer cliff-top, or a near miss on the drive home from work to realize that it probably is something one should consider sooner rather than later, especially in regards to the fact that the younger and healthier you are, the cheaper your premiums will be. The real problem with life insurance is, well, it's never fun.

Car insurance is equally dull. But because it is the law to be insured, the majority of drivers get on with it and make sure their policy is up to date. That said, unlike the history of life insurance, the history of car insurance is sprinkled with many humorous stories of stupid people claiming for stupid things. Some claims forms have featured such absurdities as: 'I had been driving for forty years when I fell asleep at the wheel and had an accident.' And: 'On approach to the traffic lights the car in front suddenly broke.' And my personal favourite: 'The accident occurred when I was attempting to bring my car out of a skid by steering it into the other vehicle.'

In terms of humorous home insurance claims, there is the famous story (sadly later proved to be fiction) of the man who insured 24 particularly expensive cigars, smoked them, and then attempted to claim his insurance because they had been destroyed by fire. He succeeded in court, but once he'd cashed his cheque, the insurance company sued him for arson.

Back to reality though, and the claim of Philip Clough. After shoving some washing into his machine before going away for the weekend, he returned to find the machine still spinning on a boil wash. The insurance company subsequently denied payment because they believed their policy didn't cover steam damage. Luckily for Clough though, the courts saw things differently on grounds that steam is H2O, just as water is.

Although ironic, it seems to me that if the general public were to learn to laugh about life insurance, then maybe people would be able to think about it more seriously. Quite frankly, who wants to contemplate what's going to happen after you've gone? It is almost a taboo subject for some people, unless it comes up during conversations about fraud or disease, it seems barely interesting at all and thus less at the forefront of our collective imagination. But the really funny thing is that it is the only policy that is pretty much certain to be paid out.

I recommend visiting the Post Office® for life insurance quote and to buy a simple, cost effective term life insurance policy, offering you a way to pay off your mortgage or leave your family a cash sum when you die.

Holiday Insurance For a Risk Free Fun-Filled Holiday

By Charle Lawrence

Getting holiday insurance has become quite important for the tourists nowadays. Disaster may fall to anyone at anytime. You may have gone out to take a break from your hectic life schedule and have fun but that too may turn to be sad for you. So, it is better to not to take any risk and be prepared and take precautions before anything bad or any physical injury may happen to you.

Several things may happen to you while you journey which are like falling sick, meeting accidents on your way, loss or theft of luggage or cancellation of flights or trains. So, there is nothing bad in being prepared through the help of such insurance policies. These are even being provided by the travel agents too and therefore, you will not have to take much pain while arranging for one. While buying their holiday package you will get to insure that whole trip. Other than this, such insurance policies are available in the online services too. You can shop around for the best deal by going through the quotes offered by the online agencies.

A variety of insurance plans are available for the holiday fun freaks. Travel insurance, discounted annual cover, ski or snowboarding holiday insurance plans and single trip insurance policies are certain available insurance plans. Some of these plans cover only a special event while some policies cover the entire holiday period. Based on the duration and the reason for which the particular insurance policy is being undertaken the prices of these differ.

When you are going to a place which is totally new for you and is opposite to the climate where you reside then it is necessary for you to have the holiday insurance. Under such circumstances the insurance should not cover a few days or special events, in fact the whole holiday duration should be insured. This will make the holiday tour quite tension free, enjoyable and memorable for your whole family.

Charle Lawrence is associated with insuranceb. He holds a Master's in finance from Cambridge University. To know more about holiday insurance, quote holiday insurance, travel insurance, uk holiday insurance please visit insuranceb.co.uk/

Why Home Insurance?

By Jon Elton

Many people used to ask the question repeatedly again and again, why home insurance? They in general out there with so many arguments against the home insurance. But I found all of them would be having same types of reasoning to argue why we need not go for home insurance. They will tell like this. See my area where I am staying for last two decades, nothing untoward instance have happened. There were no earthquake, there were no floods, there were no fire, there were no vandalism, and our area is very calm without any terrorist attacks and so on. And after all they will suggest that home insurance is not at all required, why to spend dollars from your wallet year by year.

All the above are correct, but when I ask them back, what you will do if your house is got damaged or destroyed by some reason? Are you 100% assured that your area would not be affected by any one of these eventualities? I simply asked then did any of us believed that, at least in dream, such an attack would have happened on 9/11. Do you think that your earth under your foot not having any earthquake genes in it? Is it not true that a cyclone like Katrina can occur at any time, irrespective of your prediction? If just a flood happens, what will be the status of your dream home? Who can rule out an angry mob coming and vandalizing all homes they come across? At least can you assure that a firebreak out will not happen at all in the home? Is it not enough a simple lighting or electric short circuit?

There was only one answer. The chance of coming such an eventuality is very less. True, but if any of such eventuality happened do you want to go with an empty wallet and a huge mortgage credit on your head? Is it not a right approach to insure the home for an equal amount of the cost of your home? You have to make a premium payment for the sum insured, which will be a much less amount comparing the amount of the policy insured. In case of a worst catastrophe, you stand to gain much; you can get back another dream home with the insured amount. If no eventuality happens, thank God and nature; you are just losing only a minimal amount. This minimal amount will assure you a perfect sleep, without any stress about the home and its contents.

Home insurance is a necessary protective precaution every one has to take to safeguard the hard earned money invested in the home. You must have taken huge amount as mortgage loan to acquire your dream home. Home insurance can only assure you from the credit debt like mortgage loans and other personal loans in case of any natural eventualities. It is imperative to go for insurance, make sure that you insure your home equivalent to an amount by which you can rebuild a dream home. Are you not clear now, why you require your house to be insured?

Jon Elton owns and operates a Car Home Life Insurance Quotes website to help while making decision about insurance. He also operates a Cheap Car Auto Insurance site to help taking decision about auto Insurance.

Home Content Insurance Cover Online

By Jon Elton

Many people are out there looking for home insurance cover online. It is better always to have pre-knowledge of what types of insurance covers are available for home. Basically there are two kinds of schemes regarding the home insurance. One of them purely deals with the materials inside or contents of the home, like TV, fridge, computers, washers and so on. If any theft or losing of the household properties occur this type of insurance cover is applicable. The other type of insurance specifically deal with the insurance of home itself, I can say the structure of house. If any damage happens to the structure of the house the second kind of house insurance will be applicable.

All insurance companies offer you, whether online or offline, both kinds of insurance cover, individually or jointly. In most of the cases, like when your property is mortgaged, the house insurances are inevitable. Home content insurance is required depending on the personal requirements or as a result of the loans taken for the purchase of the home contents. You can take the insurances individually for each or jointly combining home insurance and home content insurance together. The second option of joint insurance scheme will be beneficial to the customers, if the customer plans to have both. In general home content policy covers all items that can be taken with you from one place to another. Home insurance policy covers all the items or parts of the house, which are immovable.

While considering the home content insurance, you must take into account certain criteria. It is better always to insure the home contents as there are always threats of theft, vandalism or natural disasters like flood, lightning and severe electric shortage. There are many insurance schemes covering all such types of eventualities. The insurance cover assures the maintenance and replacement of the items, if required, in case of a warranted situation. For each and every item in your house can be insured for certain amount depending up on their original cost, guaranteed life and depreciation. It is highly advisable to get the maximum insurance cover considering its worth, do not go for lower policies. Also you should not spike up the policy amount as the payment you have to make may go insane.

Often it is a practice that insurance companies offer wide range of eventualities on which the insurance covers is effective. I would like to caution you to go through the terms and conditions, the list of eventualities and the details of claim amounts for each of the items before entering into a contract with any online insurance company. As the coverage eventualities are more the more you have to pay as premium. Most of the eventualities are of no concern for you. So you should avoid such options to reduce the payments on insurance coverage.

There are many online insurance companies ready to help you in insuring the home contents as well as home. To get a best deal my advice for you is to get insurance quotes from many online sites and select a proper company for home insurance with minimal payments.

Jon Elton owns and operates a Car Home Life Insurance Quotes website to help while making decision about insurance. He also operates a Cheap Car Auto Insurance site to help taking decision about auto Insurance.

Why is HGV Insurance Special and Why is it Important to Understand the Lingo?

By Stanley Headley

HGV insurance, or Heavy Goods Vehicle insurance, or Haulage insurance, has some factors that are generally not known to the common public. A HGV owner or operator should have a clear and thorough understanding of all the terms, conditions and nuances of HGV insurance in order to ensure that they have the right HGV insurance policy.

The significance of HGV insurance arises from the fact that the law requires a hauling vehicle to have an insurance coverage in order to travel on highways and streets.

Why is HGV insurance special?

HGV insurance guarantees that the goods and items of the customer are adequately insured while in transit. Thus, the customer feels secure about untoward incidents that might occur in transit. Moreover, a HGV having a coverage remains protected in matters involving legal complications.

HGV insurance covers various goods being transported that range from highly hazardous and toxic materials to extremely heavy and big objects.

Normally the coverage given to the vehicle does not depend on the premium paid by the insurer. The majority of the insurance providers offer an introductory bonus in the form of a waiver of up to sixty percent for the initial coverage.

The greatest surprise involving HGV insurance lies in the fact that it can be cheap and affordable despite the valuables it covers and the "expensive" tag attached to it.

HGV insurance lingo

If you are planning to purchase a HGV policy for the first time, you do not need to fear. HGV is not rocket science. All one really needs to do is to get a hang of the jargon involved.

One might wonder how knowing the lingo is going to help. One might think that the process of learning the jargon would be too time-consuming. But it is not actually that difficult. Moreover, you will soon find out that the fact that you know the insurance language will cause your premium to go down considerably.

Your apparent experience about any type of insurance will discourage the agents and brokers from their attempts to convince you with unnecessarily expensive packages. They would not have the heart to approach you with extravagant plans, as your mastery over HGV insurance lingo would make them feel that you have sufficient knowledge to nip their efforts at the bud.

If we visit a foreign country and speak their language, we get readily accepted by the locals as they feel comfortable and at ease with us. A similar magic happens with the insurance industry. The moment you speak their language you ensure that you get the best deal, the best treatment and the best services.

Words and phrases like "Public Liability", "No Claims Bonus", "Compulsory Deductible", "Voluntary Excess", "Premium" etc. will act like magical words and phrases as soon as you utter them while conversing with HGV insurance companies or brokers. The Internet will play a valuable role if you sincerely want to get a hang of HGV insurance lingo.

Thus, a little bit of special attention to HGV will make sure that you get an affordable and perfect HGV deal.

Staveley Head are a fast growing independently owned insurance broker based in the UK and offers HGV Insurance with huge savings being passed onto the customer.

The Underestimated Value of Insurance

By Sarah Martin

Insurance as an issue in business-the worth of insurance is typically greatly underestimated. This is partially the consequence of assuming a very tapered view of the insurance industry for, in assessing the value of any commerce enterprise, we must mull over not only the basic and obvious benefits which are the outcome from its behavior but also its more distant penalties (upon close examination it will be clear (1) that insurance executes a wide variety of functions for the business individual and the population which are frequently acknowledged without notice or approval and (2) that the abundant forms of insurance have in basic form very much the identical elements in sight.

Insurance brings out security in business activities-a service which is ordinary to all forms of insurance-life insurance, homeowner insurance, credit insurance, bonding, title insurance, etc., and is to alternate for big and uncertain losses a minute but definite payment. By this it means that the business individual enters into a contract to disburse a relatively diminutive premium at fixed intervals, in exchange for the insurance company's agreement to presume the risk of particular bigger losses which may or may not happen.

For example, while an individual may be aware that fires are consistently ruining business property and stocks of goods he is unable to determine how quickly his property will be affected, if ever. If he could forecast his fire damages with any precision he could make provision prior to damages without the necessity of insurance, provided there was appropriate time; but since the occasion and its consequences are vague he has no guarantee that his most solemn efforts to provide for the future might be cut short by an unfortunate calamity.

But what is most vague with consideration to an individual may be directly calculated for a crowd. A revision of fire insurance statistics would demonstrate that on bakeries, for example, a particular percentage of loss due to fire may be predictable in a given time period. If such statistics were more reasonable in disposition it would be feasible even to find the statistical results in regards to specific kinds of bakeries in specific edifices.

How this might be performed can be shown with fire insurance rates. It is thus possible to create provision on a numerical basis for a group which is not probable for an individual. The constituent of confidence or guarantee is a fundamental one in every industry and to every individual and insurance supplies a means in which such confidence can be introduced where it likely did not previously exist.

Nor do other types of insurance fluctuate from fire insurance in this esteem, except in scale. Any person who is familiar with the evidence of the past experience of life insurance companies can assure anyone with the maximum amount of ease that out of 100,000 individuals at the age of 20, 3,891 will perish before they reach 25. Nonetheless with regard to an individual we can forecast nothing and one who tries to offer against bereavement by reduction may or may not be victorious.

In marine insurance we can also discover individuals and companies who, depending upon their familiarity of conditions and the understanding of the past, are prepared for a minute consideration to suppose the risks incident to conveyance of a vessel or a cargo over the ocean. It is factual that here the elements affecting the risk are diverse and so assorted that the dilemma of calculating an accurate premium is more complex, but the standard involved is identical.

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

The First Stock Market Crash

By Sarah Martin

Frederick H. Ecker became President of the Metropolitan on March 26, 1929, and associated with him as Vice Presidents were Robert L. Cox and Leroy A. Lincoln. Mr. Cox died in January of the following year, and Mr. Lincoln immediately assumed the position of second in command. He succeeded to the Presidency in March 1936, when Mr. Ecker became Chairman of the Board. When the new administration took office in 1929, the country was enjoying what appeared to be great prosperity.

Many men in business and in public life believed that we had attained a depression less economy. Corporate earnings were at a high level. There was frenzied activity in the stock market and in the flotation of new securities. Prices of common stocks reached dizzy peaks. Credit was easy to obtain. The growth of the Metropolitan and of other life insurance companies reflected the optimistic spirit of the times. All prospered as a result of the great business activity and the high rate of employment at good wages then prevalent throughout the country.

The first hundred billion dollars of life insurance rates in force had been attained; predictions were being confidently made that within another 10 years the second hundred billion would be added. But in October 1929 came the first manifestation of a series of cataclysms which shook the country and the world. The first stock market crash came almost out of a clear sky. The full significance of this indication of economic distress was little understood at the time. Many people suffered immediate losses. Many held on to their securities while prices were dropping sharply, only to sell them at even lower figures at a later date, or to be closed out for lack of margin.

Nevertheless, there were many in high places that refused to believe that this was more than a temporary financial setback. Although the national income fell in 1930 and 1931, it was still at a fairly high level. Because of the low prices to which common stocks had fallen, various recommendations were made in the late autumn of 1929 urging the life insurance companies to make such purchases in anticipation of rapid economic recovery.

The State laws governing life insurance investments specifically forbade such venturing. Undoubtedly great havoc would have been wrought in the financial structures of many companies and great losses suffered by policy holders if such advice could have been taken. The market quotations as they dropped from month to month thoroughly confirmed the prophetic warnings of Mr. Ecker, and justified his insistence that the law limiting the character of the investment portfolio of Life insurance companies should remain essentially unchanged.

The life insurance companies stood firm. Because of the character of their portfolios, they were not seriously affected by the declining values. In some respects, the very nature of the upset at the close of 1929 reacted favorably upon the companies. Many individuals who had lost heavily in the stock market felt called upon to increase their Life insurance in order to make good the losses to the estates which they had hoped to build up for their families.

Thus, in the years immediately following the first stock market crash, ordinary insurance made unparalleled gains and was becoming closer and closer to offering term life insurance without exam. In 1930 the Metropolitan issued, exclusive of business revived or increased, close to $1,400,000,000 of ordinary insurance, the highest annual figure in the history of this department up to that time. But even this figure was exceeded by a considerable margin the following year, when a total of more than $1,460,000,000 was achieved. In fact, 1931 has remained the banner year for the writing of ordinary insurance in the Metropolitan.

Even in the industrial department there was an issue of $1,110,000,000 in 1930, only 8% less than in its peak year of 1929. In 1931 the industrial insurance issued still exceeded $1,000,000,000. In both the ordinary and the industrial departments, the total insurance in force continued to increase without interruption through the year 1931. Apparently, the economic situation up to that time had not yet seriously affected the ability of the American people to purchase or maintain life insurance.

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

Similarities in All Fields of Insurance

By Sarah Martin

Similar depictions are found in all fields of insurance. No property owner is completely certain that his title is strong and no one would be willing to put forth a single prediction about it when it comes to personal judgment, however correct, could be wrong. But given an adequately large collection of risks underwriters are eager to transform uncertainty into certainty by conceding protection in return for a predetermined premium.

No merchant is aware for sure when a particular debtor's account might need to be written off as a "bad debt," or how much he stands lose on a personal debtor, but in many areas of business the standard loss through bad debts is about completely certain. When an assortment of risks thus increases the firmness of the future it becomes feasible for the manufacturer to take away his doubts by the acquisition of a credit insurance policy.

The law of most States holds a business responsible for payment to hurt employees, usually specifying precisely the amount to which the individual employee is allowed; but even in the major plants it is complex to guess the entire amount which will be compensated in any given year.

But by accounting for, for instance, all steel plants in America, we can come to a much more precise finale and through compensation private health insurance can wipe away this element of possibility from the employer's company. Generally most business men would confess that nothing is more vague than the law, and yet they suppose a legal liability when they authorize a salesman to go into their premises, when they dangle a sign over the path, operate an industrial unit with windows opening on the lane, and perform many other acts without a consideration of the component of risk thereby brought up.

A public liability policy would turn many of these reservations. So we might go on to exemplify the element of doubt in the operation of a vehicle, in an operation executed by a doctor, in the function of an elevator, in the presence of a plate glass window, the operation of a steam boiler, and the mailing of a package by parcel station, in all of which the doubt, or at least a significant part thereof, may be completely erased by the introduction of insurance.

It is the failure entirely to welcome this principle that causes people so often to insure their possessions but to overlook their life insurance, to enlighten themselves of their liability under reimbursement acts, yet take no notice of their liability to the public. Plenty has been said, nevertheless, to show the outcomes in the elimination of risk made accessible to the individual and the business owner. If all ambiguity could be removed from business, profits would be definite; insurance removes much insecurity and to that degree is profitable.

Insurance improves business competence-the natural result of the removal of risk and ambiguity is an increase in business effectiveness. Every producer knows that if it were feasible for him to lessen the uncertainties of his industry by 50% his efficiency as a commerce unit would be at the very least trebled. The cost of goods is often used as an index to the competence of their production and allocation, and it is well known that the slighter the risk involved, the lesser the price it is achievable to charge.

The most doubtful businesses are in the foremost the most incompetent ones; for the exis¬tence of the huge element of doubt minimizes the significance of the countless small factors which make up the summation total of effectiveness. With a few bigger risks out of the way the business owner is able to dedicate his concentration to those minor perfections which award him an advantage over his competitors. This makes the idea of cheap auto insurance that much more relevant.

For example, suppose that a young individual has gathered a small amount of wealth and is given an opportunity to invest this amount of capital in an exporting commerce. He may be very certain of the achievement of this industry and would be prepared to risk his opportunity in it without thinking twice. But he considers the danger accompanying ocean transportation and the hazards of inferno and fraudulence.

His investment symbolizes a growth acquired by reduction and tough labor, and when he ponders the likelihood of flames, of shipwreck, of harm to the goods by the sea, etc., he becomes reluctant to put his capital in jeopardy unless insurance is introduced as a kind of protection. With this guarantee he is a resourceful business individual, without it he is a risky gambler heckled by uncertainty and indecision.

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

Business Still Booms Within Proposed Limits

By Kyle Y Widner

The scene for Metropolitan Life Insurance Company began to shift around 1905-a year of great import in American life insurance history. For some time it had been clear to leaders of public opinion that all was not well with the practice of life insurance as it had been conducted by some of the larger companies. In that year the New York Legislature appointed a joint committee, with Senator William W. Armstrong as Chairman, to make a sweeping inquiry into every phase of the industry.

The inquiry concentrated upon the alleged mismanagement of the companies, their vast accumulations of wealth, their treatment of policyholders, their cost of operation and administration, the methods and character of their investments, their legislative activities, and practice of contributions to political parties.

The investigation was conducted by distinguished counsel headed by Charles Evans Hughes, later Governor of the State of New York and Chief Justice of the United States Supreme Court. Much that was unsavory was disclosed in the activities of some, though not all, of the larger companies. The report of the investigation was followed by drastic legislation which cleansed the business of questionable practices which had sprung up during the years.

Two decades later the business had earned from Mr. Hughes, in an address before the Association of Life Insurance Presidents, the commendation: "1 believe that there is no safer or better managed business in our country than yours." In so far as the Metropolitan itself was concerned, the Armstrong investigation and the legislation which ensued were, with exceptions mentioned below, a happy vindication of the practices which the company had previously established. Tontine, or deferred dividend insurance, which Mr. Fiske had proscribed when the Ordinary Department was reestablished in 1892, was outlawed. Expenses in the acquisition of new business were definitely limited.

When other companies argued that the restriction of expenses imposed a hardship upon them, the Legislative Committee cited the Metropolitan as an example that business could be done within the proposed limits. As regards industrial life insurance, the committee referred to what were called "serious evils which have been disclosed by this inquiry," but stated that it was not prepared to make recommendations with reference to that business. This was regarded by Mr. Fiske as a personal triumph.

He had impressed the committee with his views as to the importance of industrial life insurance as an institution and with the value of the service which it rendered, and he had urged that the companies be permitted to seek remedies of the features criticized, without legislative interference.

The only applicable changes in the law were to put the reserve liabilities on the basis of Metropolitan Industrial mortality, and to provide paid-up values to lapsed policies after three instead of after five years. The result of the investigation as a whole was to add to the prestige of the company, a fact evidenced by the sharp increase in its business in the years that followed.

This author is a freelance marketing writer based out of San Diego, CA. She specializes in the history of life insurance, business, and finance.

Online Insurance Policies

By Jon Elton

With the verdant use of computers and internet global networking online facilities, nowadays people would like to do business with online stores and websites. Whatever you want to lead a comfortable or luxurious life, everything is available online. This is true in the case of insurance policies as well. There are many advantages for online insurance policies.

There are varieties of insurance policies. They are life insurance policies, auto insurance policies, accidental insurance policies, health insurance policies and home insurance policies. All these policies are essentially required for any citizen. These insurance policies help the people to live without ant stress on future. If you have a valid life insurance cover, you can forget about the financial difficulties which can be faced by your dependents in case of an eventuality of the death. Without the insurance cover the lives of your loving ones will be in shatters. Similar is the case with auto insurance. Auto insurance is in any case important, as it is an essential deal required to get the necessary permit and license to drive the vehicle. Auto insurance will safeguard from you and third parties in case of any damages to the vehicle or an accident. You need not worry about the financial burden due to auto related issue if you have already insured your vehicle.

The present lifestyle, polluted environments and fast paced life have become the source for many physical and mental ailments. Thanks to the advancements in the medical field and technological fields. The diagnosis and after treatments are nowadays are easy with modern techno savvy equipments, laboratory tests and also with the advanced highly effective medicines. Almost all the diseases are curable and the rest are controllable enabling the patient to lead a worthy life. But...? The expenses associated with the medical diagnosis and treatments are very high making it very difficult for millions to afford. Here health insurance comes as the savior. With a minimal payment of monthly installments, you can cover all your medical needs without any difficulties. Group health insurance schemes and family health insurance schemes extends this health insurance facilities to your family and the groups like workers in a company.

Home insurance and home content insurance are the other types of insurance schemes which are widely in use. These insurances schemes make you free of worrying about the loss or damage of your dream homes and its contents. If you have availed a mortgage loan for the home, the insurance policies for home is very essential. Accidental insurance policies are a sort of Life insurance policy without any life coverage on natural death. If the death or permanent disability occurs due to an accident, then this insurance cover comes into effect.

All the above described various kinds of policies are now available in online. You have to log on to your internet and search for the good options foe each one of the above. Getting the proper awareness on all these insurance schemes is necessary for selecting the proper and best insurance deals.

Jon Elton owns and operates a Car Home Life Insurance Quotes website to help while making decision about insurance. He also operates a Cheap Car Auto Insurance site to help taking decision about auto Insurance.

Nicholas Barbon, Insurance Pioneer

By Geoff Ficke

For most of history natural and man made disasters were treated as simple "Acts of God". After the event, the effected populations were left to fend for themselves. They rebuilt their lives as best they could but there was no agency or provider that could be approached for assistance. Charity was virtually unknown in any organized way. Governments were distant and not in the business of administering relief funds.

Thus, a commercial opportunity was noticed, addressed and successfully harvested. In 1670 there was a massive fire in London. It was the largest fire in history until that time. The city was, at that time the largest, most densely populated in the world. Almost all of the buildings in London were constructed of wood and were built closely together, At that time, as now, London was a very horizontally designed metropolis (New York City and Hong Kong in contrast, are much more vertically built). The fire fed upon itself and raged widely, consuming all in its path.

After the fire burnt itself out, the city of London and it's population were decimated. A prescient resident named Nicholas Barbon observed first hand the total destruction of his the metropolis. Barbon was a German trained physician. He assisted by caring for the injured but felt that something more could be done to assist people in rebuilding their physical, financial and emotional lives.

His brilliant, elegantly simple idea was to create an assurance product that could be sold in mass, at affordable rates and cover the possibility of loss by fire. Nicholas Barbon met with accountants and financiers and developed some of the earliest actuarial tables to assess and price risk. London Assurance was incorporated and was the first known entity to sell fire insurance to individuals and businesses.

In America, Benjamin Franklin started the first fire insurance company in Philadelphia in the 1760's. Franklin was an entrepreneur with a wide range of business and philanthropic interests. He was probably one of America's richest men of that era. He started the first fire department in Philadelphia at the same time. Imagine selling fire insurance for profit, and assembling a professional fire department to mitigate losses from fires. Bright fellow, no?

The great Chicago fire and the San Francisco fire of 1906 would have left these modern, beautiful metropolises with much sadder futures if the use of fire insurance had not been widely incorporated by the time they burned. Chicago is now known as "The 2nd City", not because it is secondary to New York, but because the modern city we enjoy was rebuilt on top of the burned out husk of old Chicago.

Today the use of fire insurance is ubiquitous. We must have fire insurance to secure a home loan. Cities around the world have crafted building codes to minimize fire hazards among other reasons. The assessment of fire insurance risk is an actuarial craft. Hundreds of thousands of jobs are existent because of the fire and casualty industry that Nicholas Barbon pioneered.

The genius of Nicholas Barbon in assembling the elements that successfully commercialized the fire insurance business benefit us to this day. His vision allows millions of families and businesses around the world to survive disasters and re-assemble their lives.

Everyday, in locations all over the world, entrepreneurs are working to create new products, techniques and services that can improve our lives. Ben Franklin, Thomas Edison, Bill Gates and other famous inventors are paid homage for their contributions and genius. They are worthy role models for people seeking to create new opportunities. Men like Nicholas Barbon are less obvious. And yet, the seemingly mundane creation of fire insurance is a wonderful template for us to consider as we seek to craft exciting, new innovations.

Geoff Ficke has been a serial entrepreneur for almost 50 years. As a small boy, earning his spending money doing odd jobs in the neighborhood, he learned the value of selling himself, offering service and value for money. After putting himself through the University of Kentucky (B.A. Broadcast Journalism, 1969) and serving in the United States Marine Corp, Mr. Ficke commenced a career in the cosmetic industry. After rising to National Sales Manager for Vidal Sassoon Hair Care at age 28, he then launched a number of ventures, including Rubigo Cosmetics, Parfums Pierre Wulff Paris, Le Bain Couture and Fashion Fragrance. Geoff Ficke and his consulting firm, Duquesa Marketing, Inc. (http://www.duquesamarketing.com) has assisted businesses large and small, domestic and international, entrepreneurs, inventors and students in new product development, capital formation, licensing, marketing, sales and business plans and successful implementation of his customized strategies. He is a Senior Fellow at the Page Center for Entrepreneurial Studies, Business School, Miami University, Oxford, Ohio.

Group Insurance Canada - Three Key Options For Canadian Businesses!

By Rob B

You may have heard that the number of insurers in the Canadian marketplace has declined over the years. This is true ... sort of. The traditional life insurance companies have consolidated their group operations into just a few key players. But there are some innovative Group Health Insurance solutions being offered now. And even the traditional group plans have had to improve their offerings to stay competitive.

So what choices are there for a business to provide a group health benefit plan?

1. Traditional Group Insurance Canada Everyone is familiar with traditional workplace health benefits. They provide basic life insurance coverage, a disability insurance safety net and Accidental Death and Dismemberment Coverage. They also offer Prescription Drug and Dental coverage (not always both), and extended health benefits like chiropractic, massage, psychology, and the like. There are a lot of different ways to build a benefit plan now and a good broker will help you to find the right coverage for the budget of your business.

2. Administrative Services Only (ASO) An Administrative Services Only plan can offer all of the same benefits that a Traditional Group Plan. So what's the difference? The difference between ASO and a traditional group plan is that the ASO is essentially self insuring. This eliminates a lot of the "mark-up" in the group plan but also increases the risk of high claims to the business. This risk can be reduced through the use of stop loss insurance. All in all an ASO plan can save a business a lot of money while reducing overall costs.

3. Health Spending Accounts A Health Spending Account is essentially a savings account set aside for the purpose of medical spending. Small business owners and incorporated professionals find that this is a dynamic way to pay for health expenses they already have and to save for future costs. A HSA is recognized by the Canada Revenue Agency and allows the individual to pay for their annual healthcare costs in pre-tax dollars. Money put into the HSA are recognized as a full business deduction. This save significant tax dollars. Of course there are limits to how much can be put into a Health Spending Account. They are reasonable limits.

So you can see that there are choices to implement a health insurance plan for your business and employees. You might be surprised that you do not have to break the bank!

Rob B is a Canadian Insurance broker who is sharing general information on insurance in the hopes that it helps more people get the insurance they need. Rob is an independent broker from the Niagara Region in Ontario, Canada. He writes about insurance for Canadians at http://www.canada-insurance-source.com Visit Group Insurance Canada to learn more about Canadian Group Plans, ASO plans, and Health Spending Accounts. You may use this article on your site as long as you give full credit to the author by including this full resource box with active links.

Project Management Concepts and Insurance Companies

By Kimberley Ward

Many elements of project management (see Project Management Institute's website for more information) could be applied to help insurance companies manage their operations and projects better. One method in particular should be an area of interest for insurance company actuaries - the CONTROL area.

Control is the mate of Planning, another area that strong actuarial help is valuable. Control gets a bad rap from people that feel that the term implies heavy-handed oversight or punitive measures, but is, in reality, an essential part of the planning process. Where planning says what you are going to do and when, control checks on those plans and can suggest corrective action when plans are going awry, as they so often do.

There are three types of control processes - (1) Feedback Control, (2) Concurrent Control, and (3) Feed-Forward Control.

Feedback Control is frequently done by actuaries in insurance companies. Studies of rate levels, unallocated expense allocation, projected expenses, loss reserve calculations are often purely or nearly purely Feedback Control, in that they base the future projections on historical results. In project management, Feedback Control is considered the least optimal control method, since the undesirable events have already occurred well before the control function is initialized. Interestingly, projections based on historical events is quite favored by insurance departments of insurance, that frequently require explanation if your projections are based on anything else.

Concurrent Control is a type of control that takes place when a process is about to occur. The final checking before sending rate filings, Annual Statement reports, agent's bonuses, large claim settlement reports, etc. are are form of Concurrent Control. Training and periodic checking of employee work is also considered Concurrent Control.

The last form of control is an interesting one. It is a form of control more and more actuaries are getting involved in. This type of control function is called Feed-Forward Control and it's goal is to inspire corrective action before a deviation in the plan occurs. Actuaries call it "modeling" and have applied the concept to forecasts of future profitability, premium levels, claim costs for certain lines of business, enterprise risk management, or dynamic financial analysis.

The steps of Feed-Forward Control are as follows:

1. Identify all relevant input variables. For project management, these variables relate to time, volume, and money (or costs of the project). For actuarial work for insurance companies, the variables might be premiums, loss costs, expenses, investment income, risks of various company functions or operations, etc.
2. Build a dynamic model representing the process and keep it updated.
3. Collect data and enter into your model. For most projects I do, the data gets collected into the model before, during, and after it is built.
4. Perform regular assessment of the projected path and the variation from the plan. Are the loss costs out of range? Is persistency decreasing off planned values? Is the level of risk for a type of insured/coverage/policy unacceptably high? Are the number of claims or policies off plan?
5. Take action - Feed-Forward Control provides the early warning system needed to take action before getting too far away from plan.

Actuarial work for insurance companies generally uses the Feedback Control type the most, but Feed-Forward methods have the potential to change the profitability of the company quicker and more reliably.

The major disadvantage for insurance companies is the more complicated filing and approval process for applications that require state approval, but that is overcome with clear actuarial memos and an education process. The advantages of getting ahead of deviations to your insurance company's plan outweighs difficulties getting the process approved. Rating agencies also appreciate the use and application of Feed-Forward Controls both for the added stability of the company and the evidence of careful planning that is implied in the use of such a method.

Kimberley A. Ward, FCAS, MAAA, FCA - Kimberley serves as Partner at Windsor Strategy Partners and is located at their satellite office in Newark, IL. Prior to joining Windsor Strategy Partners, Kimberley served as Chief Actuary at AAIS. Kimberley is a Fellow of Casualty Actuarial Society. She is hold memberships in the American Academy of Actuaries, Conference of Consulting Actuaries, Project Management Institute and Association of Insurance Compliance Professionals. Kimberley's core expertise includes property-casualty actuarial pricing, reserving, product development, project management, mentoring, strategic planning, education, training and employee development. See Kimberley's blog at http://viewivorytower.blogspot.com and her company's website at http://wspactuaries.com