Insurance D2B

Insurance the "American" Way

2008-11-28T11:36:00.004-08:00

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

2008-11-28T11:36:00.003-08:00

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

2008-11-28T11:36:00.001-08:00

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?

2008-11-28T11:35:00.000-08:00

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

2008-11-20T11:57:00.002-08:00

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

2008-11-20T11:57:00.001-08:00

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

2008-11-20T11:56:00.002-08:00

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

2008-11-20T11:56:00.001-08:00

By Kyle J Norton

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

2008-11-20T11:55:00.001-08:00

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

2008-11-16T12:43:00.002-08:00

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

2008-11-16T12:43:00.001-08:00

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

2008-11-16T12:42:00.000-08:00

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?

2008-11-14T11:22:00.001-08:00

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/

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

2008-11-14T11:21:00.002-08:00

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!!

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

2008-11-14T11:21:00.001-08:00

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.

Insurance - A Great Way To Get Protect

2008-11-11T08:53:00.001-08:00

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

2008-11-11T08:52:00.000-08:00

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

2008-11-10T12:38:00.001-08:00

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!

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

2008-11-08T00:31:00.000-08:00

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.

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

2008-11-07T11:35:00.001-08:00

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

2008-11-07T11:34:00.005-08:00

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

2008-11-07T11:34:00.003-08:00

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

Protect Your Business With a Fidelity Bond

2008-11-07T11:34:00.001-08:00

By Jake Robberts

Before we get started lets clarify what a Fidelity Bond is. A "Fidelity Bond" is another name for a Commercial Crime Policy. Many Agents consider it a surety bond but it is not it is a form of insurance that protects the employer from theft of a employee

"According to research conducted by the Association of Certified Fraud Examiners (ACFE), U.S. organizations lose an estimated 7 percent of annual revenues to fraud. Based on the projected U.S. Gross Domestic Product for 2008, this percentage indicates a staggering estimate of losses around $994 billion among organizations, despite increased emphasis on anti-fraud controls and recent legislation to combat fraud." -acfe.com"

A Fidelity Bond protects an employer from employee theft. Usually, insurance companies and security firms are required to obtain a fidelity bond. Essentially Fidelity Bonds guarantee the employer's money and property in the event that an employee causes damage though negligent or a dishonest. Fidelity Bonds or Employee Dishonest bonds are usually required by private obligees but are required by some government entities.

Its primary coverage is employee theft. This will pay for loss or damage to money, securities and other property directly from theft or forgery by an employee. Several other agreements can be added or included in your Fidelity policy to protect you from someone other than an employee. Such as:

Forgery or Alteration

Inside the Premises - Theft of Money & Securities

Inside The Premises - Robbery or Safe Burglary of other property

Outside The Premises - Theft of Money & Securities and Robbery of Other property

Computer Fraud

Money Orders And Counterfeit Currency

Other coverage could apply depending on the type of business and insurance company providing the policy.

Jake has been written Fidelity Bonds and Surety Bonds for over 10 years.

Benefits of Insurance Claim Management

2008-11-07T11:33:00.000-08:00

By Derek Rogers

If due to certain circumstances, you feel the need to file for an insurance claim, you must be aware that it can be a terrible time if by any chance your insurance company refused to pay up or if they only offered you with a fraction of the required amount. This can come as quite a blow to you and your career, but there are other ways that are open and effective at the same time.

You can choose to fight for your fair share and one of the best ways to do this would be to get the help of a claims management firm. Using the helpful services, provided by the claims company, many people have got their due money as well as the compensation. Even you can avail this service to get the money that is due.

Claims Management Companies offer claims management services to the common man. These services consist of advice and services which concern claims for repayment for loss, remedy for loss, restitution, compensation or due to some other obligations. There are numerous benefits of insurance claim management; all you need to do is find the right one that suits your needs.

A claims management company can guarantee that you get back everything that had been involved in the claim. If it is necessary, the company can deal with all the professionals on your behalf. The company takes all the necessary steps to ensure that you get all the money that is due.

Although, you may think that paying extra to make the insurance company pay up may not be worth it but let me tell you that your money will make its way back to you in less time and without much effort on your part.

Here below are the benefits of taking help from a claims management company:

In many cases, the company can perform certain calculations that can give you a proper idea as to when you can expect to receive the money and within what time span. Such expert advice from dedicated professionals can help you get a good night's sleep.

One major benefit is that the company takes over the negotiation on your behalf and offers with all the necessary and required legal advice you may need. Whether it is the calculations of your claim or the various problems which may rise when you are taking on the employee compensation issues, you need to make your decisions very wisely and this is where your claims management service steps in to make wise and calculated decisions for you.

Another benefit with claims management is that their presence makes the insurance company aware about you being serious about the money. Insurance companies pay only what they think you are going to accept, therefore it is wise to take help of a claims management company to get the attention you need and deserve.

It can be really difficult to get your money and compensation from the insurance agency, in order to avoid such hassles, make sure to enlist the proper help as soon as you feel the need to. To find the best company, take a look at the features offered by various claims management companies to find out which offers the best services and advice.

Derek Rogers is a freelance writer who represents a number of UK businesses. For Loss Assessor Consultants and Insurance Claim Management, he recommends Morgan Clark.

Insurance As a Device For Handling Risk

2008-11-06T12:59:00.001-08:00

By Sarah Martin

The real nature of insurance is often confused. The word "insurance" is sometimes applied to a fund that is accumulated to meet uncertain losses. For example, a specialty shop dealing in seasonal goods must add to its price early in the season to build up a fund to cover the possibility of loss at the end of the season when the price must be reduced to clear the market. Similarly, life insurance quotes take into consideration the price the policy would cost after collecting premiums from other policyholders.

This method of meeting a risk is not insurance. It takes more than the mere accumulation of funds to meet uncertain losses to constitute insurance. A transfer of risk is sometimes spoken of as insurance. A store that sells television sets promises to service the set for one year free of charge and to replace the picture tube should the glories of television prove too much for its delicate wiring. The salesman may refer to this agreement as an "insurance policy." It is true that it does represent a transfer of risk, but it is not insurance.

An adequate definition of insurance must include both the building-up of a fund or the transference of risk and a combination of a large number of separate, independent exposures to loss. Only then is there true insurance. Insurance may be defined as a social device for reducing risk by combining a sufficient number of exposure units to make the loss predictable.

The predictable loss is then shared proportionately by all those in the combination. Not only is uncertainty reduced, but losses are shared. These are the important essentials of insurance. One man who owns 10,000 small dwellings, widely scattered, is in almost the same position from the standpoint of insurance as an insurance company with 10,000 policyholders who each own a small dwelling.

The former case may be a subject for self-insurance, whereas the latter represents commercial insurance. From the point of view of the individual insured, insurance is a device that makes it possible for him to substitute a small, definite loss for a large but uncertain loss under an arrangement whereby the fortunate many who escape loss will help to compensate the unfortunate few who suffer loss.

The Law of Large Numbers

To repeat, insurance reduces risk. Paying a premium on a home owners insurance policy will reduce the chance that an individual will lose their home. At first glance, it may seem strange that a combination of individual risks would result in the reduction of risk. The principle that explains this phenomenon is called in mathematics the "law of large numbers." It is sometimes loosely referred to as the "law of averages" or the "law of probability." Actually, it is but one portion of the subject of probability. The latter is not a law at all but merely a branch of mathematics.

In the seventeenth century, European mathematicians were constructing crude mortality tables. From these investigations, they discovered that the percentage of males and females among each year's births tended everywhere toward a certain constant if sufficient numbers of births were tabulated. In the nineteenth century, Simeon Denis Poisson gave to this principle the name "law of large numbers."

This law is based on the regularity of the occurrence of events, so that what seems random occurrence in the individual happening simply seems so because of insufficient or incomplete knowledge of what is expected to occur. For all practical purposes the law of large numbers may be stated as follows:

The greater the number of exposures, the more nearly will the actual results obtained approach the probable result expected with an infinite number of exposures. This means that, if you flip a coin a sufficiently large number of times, the results of your trials will approach one-half heads and one-half tails, the theoretical probability if the coin is flipped an infinite number of times.

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

Finding the Best Whole Life Insurance

2008-11-06T12:57:00.000-08:00

By Kumar Balasingham

Now that you have finally decided to sit down and make sure that you have all of your final arrangements set in place, there is a lot that you need to consider when it comes to the best whole life insurance. The whole life insurance policy is one that is generally the best for people when it comes to the long-term outcome but it is something that people generally avoid because of the upfront money. Generally speaking, even the best whole life insurance plan will have you paying a pretty high premium.

This is to make sure that the best whole life insurance company has gained enough money from you upfront in order to pay out down line. Also, the best of the best whole life insurance companies will only have you pay a premium for about twenty years or so which means your monthly premiums will be on the higher side. It is better to pay the high monthly or yearly premiums now instead of later when you are retirement. Taking care of getting the best whole life insurance plan in place now is something that is extremely important to take care of.

Shopping Around

When it comes to trying to shop for the best whole life insurance it is extremely important to make sure that you are not taking the first policy that you come across. The reason is that you may very well come across truly the best whole life insurance policy and find that you are over paying. Now you can always stop the policy that you paid for and begin a new one with the better company but all of the money that you put into what you thought was the best whole life insurance plan is wasted and that is money that you are not going to see again.

Make sure that you are keeping good notes of all of the various companies that you come across and what the details are for the policies that they are offering. By taking notes and taking the right amount of time to compare it all, you will be able to truly find the best whole life insurance plan out there. Once you have found the best whole life insurance plan you will want to go ahead and take care of it and get it all started The sooner you sign up for the best whole life insurance plan then quicker you will be done paying for it all.

Author Promoted Sites Cheap Term Life Insurance , Life Insurance Settlement Loan

Professional Indemnity (PI) Insurance Market

2008-11-05T14:30:00.002-08:00

By Paul P Berg

Where are we now - and the future?

The Professional Indemnity (PI) market is currently in its soft phase, with insurers still placing emphasis on volume at the expense of profit.

And what of the future? It is certain that at some stage the market will enter harder conditions. There is uncertainty as to when the market might harden and by how much. Invariably the deeper and more prolonged the soft market the more pronounced the adjustment will be when it comes.

Events in insurance, as in life, are powerful and unpredictable. What future events might conspire, individually or collectively, to prompt a return to harder market conditions? The following is a list, by no means exhaustive, of the likely culprits:-

1) The Credit Crunch - will have three adverse effects on the insurance market. First, there is likely to be an increase in the cost of capital as its availability becomes scarce. Second, a reduction in the asset base of major insurers as sub-prime losses erode balance sheets - further reducing the capital available required to underwrite risks. Third, an increase in credit crunch liability claims as those who have suffered losses (home owners, shareholders etc) seek to recover from professional advisers, company directors etc.

2) Investment Income - a combination of increased stock market volatility and reducing interest rates could see insurer's ability to generate investment income curtailed.

3) Environmental Factors - after two relatively benign years of (insured) natural catastrophes, could 2008 see a return to more usual levels of claim - particularly in relation to the hurricane season?

4) Economic Factors - a downturn in the economy hits the insurance industry in two ways - invariably an increase in the cost of claims allied to a reduced pool of economic activity from which to collect premiums.

And finally - unforeseen events aside, our current prediction is that whilst the market is unlikely to harden during 2008, prices could well start to rise towards the start of 2009.

As ever, forewarned is, or should be, forearmed...

Griffiths & Armour Professional Risks acts as manager for the professional indemnity division of Griffiths & Armour.

Griffiths & Armour Professional Risks Ltd is an appointed representative of Griffiths & Armour which is authorised and regulated by the Financial Services Authority.

All rights reserved. This document does not present a complete or comprehensive statement of fact or the law, nor does it constitute legal advice. It is intended only to highlight issues that might be of interest to Griffiths & Armour clients; specialist legal advice may be required where appropriate. Where links to third party websites are provided, we accept no responsibility for their content.

Paul Berg is the owner of Griffiths & Armour, UK's leading independent indemnity insurance brokers, risk managers and financial advisers. We specialise in professional indemnity insurance and professional liability insurance for the construction and legal professions.

How a Surety Brings Peace of Mind

2008-11-05T14:30:00.001-08:00

By John Bows

Surety Definition

The word Surety is a noun pronounced sur- e- ty. Surety is a guarantor, which will assume responsibility of another person (principal) obligations if the principal cannot, or does not meet them. The term Surety has existed for thousands of years.

Example of Surety

Have you ever heard the saying "don't ever be anyone's Surety", what exactly does it mean? You would be held liable to guarantee the obligations of the person you where acting as Surety for. If you were acting as a Surety for a particular obligation of another (Principal) and the obligations were not met, you would have to meet those obligations on the principals behave, this is known as Surety. Surety has been around for thousands of years and is the oldest form of insurance.

How a Surety brings peace of mind

Let us suppose for a moment that you were an owner of a large piece of land, and you wanted to develop it. After years of research, money and time, you decided you wanted to build a commercial building on that land. You hire a contractor to complete the project. At first, your contract is doing a great job and everything seems to be going smoothly. After six months of construction, the project starts running behind schedule and you have failed inspection. The inspector tells you that the foundation is not up to code and it needs to be completely redone.

On top of that, the contractor walks form the job because the project has become unprofitable. What do you do and where can you turn to? That is where a Surety would come into play. If you made that one of your requirements for the contractor to obtain? The Surety would do one of the following things they would hire a new contractor, reimburse you monetarily, or finish the project. The Surety would take up the obligations of the principal. After the Surety has settled the claim the Surety would than go after the principal for the loss caused to the Surety.

Surety Bond types can be confusing you can learn more about Surety Bonds with more up coming articles

Thanks
John Bows
Integrity Bonds Inc

Filing an Insurance Claim? Expect to Fight Your Own Insurance Policy

2008-11-05T14:29:00.000-08:00

By Jane Pytel

Unscrupulous insurance companies will use your insurance policy as a basis to deny claims rather than as a basis to pay them. Flawed, faulty, or unfair insurance policy interpretation is characteristic of the widespread and out of control tactics insurance companies will use to delay, reduce, or deny payment of your claim.

When you purchase insurance, you are entering into a contract between yourself and your insurance company. This contract, or policy, establishes all terms and conditions of your insurance coverage.

An insurance contract is considered a contract of adhesion. Simply put, this means that the carrier draws up the policy and presents it to the policyholder, the insured. Because the insured has no input to amend the terms of the policy the burden of ambiguity is placed on the insurance company. The benefit of doubt must be made to the favor of the insured.

But insurance companies successfully bank on the chances that the majority of policyholders do not understand their rights. To the contrary, insurance companies will assert that there is no flexibility beyond their interpretation of your policy. When you file a claim, these companies will seek to delay or deny your claim based on what it considers any perceived or contested policy ambiguities.

As an example, assume that you have filed a claim for damages to your vehicle caused by a traffic accident. In the course of your claim you are advised by your adjuster that your claim is under additional investigation because a specific portion of your policy excludes coverage for portable equipment which is not permanently installed on or in the vehicle. You counter that permanently installed is vague and that you presented your vehicle to your agent for inspection at the time the policy was purchased. Further, you disclosed all equipment installed on the vehicle when the policy was issued. You have a reasonable expectation that this equipment is covered under the terms of your contract.

In this instance your insurance company is delaying payment of your claim by redefining the language of the contract. You have adhered to your obligations of disclosure, and you have paid your premiums. What should you do?

You need to do your personal homework. Review your information. Have you studied the policy language? What would the prudent and reasonable person conclude? Is your argument valid? Did you adequately present all details relative to your vehicle at the time you insured it? Did you have a legitimate expectation that the subject equipment was covered?

If you believe the facts support you, continue to pursue your position. Your best weapon in protecting yourself against questionable claims practices is to know your policy.

You must study and understand your insurance policy. Your insurance company assumes you will not do this.
You have a duty to disclose all relevant facts at the time you apply for your policy or your policy can be declared void.
Your insurance carrier likewise has a duty to fairly apply the terms of the contract.
Be assertive in your demands to effect a satisfactory conclusion to your claim.
Insurance companies will search for claims specific ambiguities in your policy to their benefit in order to avoid payment of your claim. They must be able to support their conclusions.

Jane Pytel is a former insurance investigator and author of an amazing new e-book, "Power to Profit" that will take you on an inside journey from the depths of insurance company bad practices to the glory of beating them at their own game. Visit Jane at http://solutionsforyourinsuranceclaim.com

Requirements For Obtaining Foreign Insurance

2008-11-04T12:45:00.004-08:00

By Levi Quinn

Planning a trip to a foreign destination is an exciting and fun process. Of course, it can't all be fun and games. There are many important legal aspects that also need to be taken care of before you set out. Driving in a foreign country involves a valid driver's license and insurance. There are many things that may be required of you and those things can change depending which country you are going to. Be sure to find out what you need to take care of in advance so that there are no nasty last minute surprises.

In many foreign countries your own home country driver's license will not be good enough. You will be required to show an international driver's permit to prove that you are legally allowed to drive there. This involves an application process, so give yourself enough time to get all of this in to place. In fact, it may be better to book the rest of the trip after taking care of these issues.

Go to a reputable travel agent that you trust for assistance. By having help on your end it can do plenty to eliminate language barrier delays. A travel agent may also be able to give you some tips on saving money in a foreign country and alert you to legal issues that you need to be aware of.

Make sure that any car rental you get involved in has some kind of insurance in place. Most well known companies like Budget or Enterprise have this stuff taken care of. But you need to know it is there so ask for paperwork that states as much. Go over the insurance coverage as well to make sure there are no loopholes that will leave you stuck in the event of an accident.

Take out your own travel insurance that can also be applied to automobiles. This may be preferable to you if it is added security that you seek. Speak to travel insurance representatives to see what they can offer you in terms of cost and protection. An insurance company should always be working with you, not against you.

The statistics regarding accidents and fatalities abroad are substantial. An estimated two hundred Americans die each year from accidents that occur while they are visiting in a foreign country. This can be a result of everything from car jacking to traffic accidents. Do what you can to protect yourself at all times. This is a statistics list that nobody wants to end up on.

If you end up bringing your own car to a foreign country, make sure that it meets all legal requirements for that place. From insurance to registration and licensing, all legal aspects need to be up to date and legit. Make sure that any insurance coverage you receive matches what you have back home. Anything less may leave you unprotected. The first step to getting foreign car insurance is being aware of what is expected of you. Equip yourself with knowledge so there are no ugly surprises.

Find the best deal on the auto insurance coverage you need. Visit us today for money-saving tips, compare auto insurance quotes and helpful car insurance advice.

Landlord Insurance - Don't Forget to Protect Yourself With a Business Owners Policy

2008-11-04T12:45:00.003-08:00

By John Mazzara

It is always important that you work to protect yourself, whether you are a landlord that is renting out a home or whether you are the tenant who is renting from a landlord. You never know what can go wrong on both ends of the deal, so having rental insurance is definitely a must. Of course you'll find that there are particular options for renters when it comes to renters insurance and then there is special rental property insurance for landlords available as well. Although many people may think that a landlord should be insured, they often forget to realize that it is so important that they have insurance while they are renting as well. So, let's take a look at both landlord rental insurance and renters insurance for tenants.

Landlord Rental Insurance

Having your own insurance as a landlord is very important if you are going to rent out properties. It is important that you are well protected when you are involved in renting property and good insurance can help to keep you protected if you lose income, if there are legal disputes, and if something bad happens to your property. There are a variety of different options available and coverage for many different situations that is available. However, there are some basics that you'll always want to make sure are included in your policy. Here are the fundamentals of a policy for a rental insurance policy for landlords.

- Property Coverage - First of all, you'll find that property coverage is going to be important if you own rental property. When you go with landlord rental insurance, you'll want to take a look at your policy to see what kind of property coverage you have. You'll want to make sure that your insurance policy covers the rental building itself, any other structures that you have on the property, such as the shed or a garage, and your own personal property that may be stored on the rental property should be covered as well.

- Protection from Lawsuits - Another important thing that you need to look for when it comes to your rental insurance as a landlord is protection from lawsuits. When you are renting out property, this is a huge risk that you will face. If people get injured while they are on your rental property, they could try to sue you. For this reason, having good insurance that will protect you against these lawsuits is important and will definitely come in handy if you every deal with this type of a problem.

- Protection in Case of Loss of Rental Income - Loss of rents coverage is also very important if you are a landlord. If for some reason you end up not getting the income that you are supposed to from your tenants, you still have to come up with the money to pay the mortgage. This type of insurance helps you to make sure that you'll be insured in case you do lose your rental income.

Renters Insurance for Tenants

Of course renters face many risks when they are renting as well and renters insurance is definitely an important purchase. If disasters strike, you'll be at the same risk as someone that owns their own home. While the landlord probably has their own insurance, it is not going to protect all of the things that you own. For this reason it is so important that you have good renters insurance that will provide you with the coverage that you need for all your goods when you are renting. So, let's take a look at some of the things your insurance will cover.

- General Coverage - First of all, let's take a look at the general coverage that you'll get with renters insurance. Your personal property will be protected by your insurance in the case of several different types of perils. Some of these perils that are covered include hail and windstorms, aircraft and vehicle damage, volcanoes, lighting, fires, riots, falling objects, theft, vandalism, smoke, explosions, weight of snow, accidental cracking of water heaters and air conditioners, water damage from appliances, sprinkler systems, air conditioning, and plumbing, freezing of the plumbing, and electrical current damage. Of course it is important to realize that earthquakes and floods are not included. If you think that you may have a problem with either of them, then consider a separate policy.

- Taking Inventory of Belongings - When you are purchasing renters insurance, you'll want to take the time to take inventory of your belongings. This is important, since you'll want to be reimbursed if something happens. You can do this by keeping receipts, documenting with photos or videos, and writing down all the items and serial numbers of valuables that are in your home.

- Other Benefits - There are other benefits to going with rental insurance as a tenant as well. Often your policy will provide you with liability coverage if some falls and sues you. Also, if you have to move out because of a problem in the rental, often the insurance will cover the expenses of living somewhere else if you have to.

John Mazzara CFP CLU CHFC CEBS CMB MBA MS is an independent financial planner in the Twin Cities, MN. Officing out of Edina, Minnesota-John is centrally located within the 7 county metropolitan area. John owns three separate businesses-a licensed real estate broker associate selling Minnesota Real Estate since 1986-affiliated with RE/MAX Associates Plus http://www.selling.mn - an independent CFP-certified financial planner since 1989 with an independent Minnesota financial planning firm-Financial Planning Associates and the owner of a Minnesota mortgage broker firm-Venture Development Inc-specializing ins residential, commercial and investment mortgages http://www.ventureloanapp.com

John has a wealth of knowledge and experience that surpasses most other advisors. If you are looking for someone to help you in the areas of real estate sales/purchase, mortgages, or and/or financial planning and insurance you should call John for a free 1 hour consultation to see if he can meet your needs. 952-929-2577.

Choosing the Ideal Snowmobile Insurance Policy

2008-11-04T12:45:00.001-08:00

By Arran James

You hold insurance on your home, vehicle, and personal effects. It also makes sense to ensure that you have a reliable insurance plan in force on the snowmobile. Laws related to snowmobile insurance are state dependent, but most states ask that at minimum liability coverage is held in the event of a accident. As the coverage varies, its important to check that the appropriate amount of cover is held.

If visiting an area on vacation but hold a snowmobile licence, registration, and insurance in anther state, there might be certain provisions that needed to be taken care of, such as the issue of a temporary license. Before setting off with a snowmobile, make sure to check the requirements of the individual state.

Irrespective of the set minimum amounts of snowmobile coverage, its always wise to obtain a snowmobile insurance plan that covers more than just the minimum stipulated by law. When in control of a vehicle that's operated at high speed and on rough terrain, you want to be certain that you're fully protected in the event of an accident or liability.

In addition, the modern snowmobile is a large investment with new models, such as the Polaris 600 Dragon SP costing $9,699. So, make certain to have a suitable insurance plan to cover replacement or repairs as they become necessary.

Most of the major insurance companies now provide insurance plans for recreational vehicles, such as snowmobiles. Before deciding on a policy, be sure to get a variety of quotes from different carries and compare the coverage, restrictions, exclusions, and the cost.

Have a chat with the representatives at the insurance companies if you want to check on the coverage on offer. Decide on a snowmobile insurance plan that suits your personal needs, your budget, and the requirements of your state.

If you're interested in getting a more detailed look at Snowmobile Insurance, including a variety of snowmobiling tips and ideas, take a look at http://www.snowmobileaccessories.org/

Why Consider Mortgage Unemployment Insurance?

2008-10-31T12:50:00.003-07:00

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?

2008-10-31T12:50:00.001-07:00

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

2008-10-31T12:49:00.000-07:00

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?

2008-10-30T12:27:00.001-07:00

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?

2008-10-30T12:26:00.002-07:00

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

2008-10-30T12:26:00.001-07:00

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

2008-10-30T12:25:00.000-07:00

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?

2008-10-28T19:49:00.001-07:00

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?

2008-10-28T19:48:00.004-07:00

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?

2008-10-28T19:48:00.003-07:00

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

2008-10-28T19:48:00.001-07:00

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

2008-10-25T06:58:00.000-07:00

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.

Health is wealth. If you found this article useful, you can also get tons of free investment advice and great finance tips at Invest Money Stocks.

This article was written by Richard Tyler - a happily retired investment guru who ran several successful businesses during his earlier years. He now shares his wealth of knowledge on investment, business and strategic wealth management at Invest Money Stocks. Ignorance is often the reason why some people are unable to harness upon what they already have to make more money while some 'in-the-know' get richer every year simply through investments. Richard sees it as a passion as well as a pleasure to share his knowledge and experience and hopes that his website will be a wealth of knowledge for those who need help in investment and wealth management matters. Invest Money Stocks covers a wide range of topics from business management, home budgeting, personal wealth management to stocks investment, options trading, penny stocks trading, forex trading, bonds, technical analysis, fundamental analysis and more.

Full Insurance Online Guide

2008-10-24T04:28:00.001-07:00

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

2008-10-24T04:27:00.002-07:00

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

2008-10-24T04:27:00.001-07:00

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?

2008-10-22T06:52:00.001-07:00

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

2008-10-22T06:51:00.000-07:00

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.

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

2008-10-21T12:22:00.003-07:00

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

2008-10-21T12:22:00.001-07:00

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

2008-10-21T12:21:00.006-07:00

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

2008-10-21T12:21:00.005-07:00

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

2008-10-21T12:21:00.003-07:00

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

2008-10-21T12:21:00.001-07:00

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.

Nicholas Barbon, Insurance Pioneer

2008-10-21T12:20:00.000-07:00

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!

2008-10-17T13:41:00.001-07:00

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

2008-10-17T13:40:00.002-07:00

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:

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.
Build a dynamic model representing the process and keep it updated.
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.
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?
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

Common Misconceptions About Insurance in Africa

2008-10-17T13:40:00.001-07:00

By Kihara Kimachia

In most African countries, insurance in a controversial and confusing subject for many. Much of the reason for this stems from the fact that the majority of Africans live on less than a dollar a day. Excluding South Africa and Egypt, the majority of Africans in other countries have never held any kind of insurance policy. Possibly the closest semblance of insurance policies for most are social arrangements where people come together and pool resources to go towards a common purpose. For example, in the event of death or illness.

As a result of this low penetration of insurance, it is understandable that most Africans do not fully grasp the 'mechanics' of insurance. Small business trainers employed by the many Non Governmental Organizations (NGO's) that are active on the continent have a particularly difficult task when they take on the topic of insurance; of course no small business course is complete without delving into some basics of insurance.

The most common misconception about insurance in Africa is that it is a preserve of the rich and upper middle class who work in the 'big towns'. The average African associates insurance with motor vehicles. This is because in most countries, the law requires every vehicle to be insured and certificate displayed on the windshield as proof. Another common misconception is that insurance premiums are refundable so long as no claim is made during the year. Interestingly, amongst those who have undergone some training or are educated to college level, there is the feeling that this is an unfair practice.

Lastly, most Africans tend to think that you can benefit from an insurance contract by receiving more than is stipulated in the event of a claim. The principle of indemnity is not well understood in this case. For example most believe that it is automatic that should you insure your property for $100 then in the event of a total loss you receive your full $100 irrespective of wear and tear and issues such under or over insuring. Anyone contemplating a foray into the African insurance markets needs to thoroughly understand these issues in addition to other dynamics unique to Africa.

CTP Green Slip Policies

2008-10-17T13:39:00.002-07:00

By Jo Thomas

Mandatory third party Insurance or CTP Green Slips give third party coverage. Before the establishing of laws in Australia making third party insurance obligatory, the vehicle owner would usually request additional insurance to cover third party liability injury. Although, this was never an obligatory requirement.

As a result, many felt that innocent victims were left with large, costly bills because the driver of the vehicle chooses not to carry this type of third party insurance product. This altered following a public outrage over a handful of accidents which appeared to acquire extra coverage. Rightly so, the change in the NSW State Government's law, Motor Accident Act 1988, was amended. It now includes a requirement that drivers have compulsory third party insurance for all of their registered vehicles.

Coverage Under General CTP Green Slip Policies:

There are various types of car insurance products on the market, but you cannot escape having CTP Greenslip protection. Nearly all car insurance providers will offer this type of protection along with other car insurance plans such as comprehensive coverage. Under this type of insurance, the driver is protected from any liability of personal injury to anyone that has been hurt due to a motor vehicle collision you have caused or are found responsible for. Should someone be hurt while you are driving and cause their injury, this insurance will cover their personal injury claim against you.

Your CTP Greenslip coverage does not provide any type of insurance protection from damage to property or to the other person's car. It will not give you any cover for your personal medical expenses.

CTP Greenslips will cover:

* Other people who are on the road with you that are involved in the accident

* Pedestrians pedal cyclists or others on foot

* The people you have in your vehicle

* Injuries that are caused by your trailer

Questions for Your Provider:

CTP Greenslips are available through a variety of lenders, all of which you should talk to. You will be able to shop around for the right level of insurance protection at the right price. There are currently 7 insurers that provide CTP Greenslips as required by law. This includes:

* AAMI

* Allianz

* CIC Allianz

* GIO

* NRMA

* QBE

* Zurich

The pricing on these plans differs from one insurer to the next, but is depending, at some level, on your own situation. For example, premium prices for CTP Greenslips is set by a combination of factors including your driving and accident record, the age of those people who will drive your car, the type and age of the vehicle you have, the use of your vehicle (private use as compared to business use) as well as if the purchase will be a renewal or new.

Find out from these potential insures how your driving situation compares to the types of insurance they offer.

Ways to Save on CTP Greenslip Insurance:

Perhaps the best way to get the lowest costing CTP Greenslips possible is to use the Motor Accidents Authority's website where you can use a very helpful calculator. This calculator will take some basic information from you and compute the various quotes from each of the seven insurers. It saves you time and money by providing you with the lowest costing CTP Greenslips possible.

Additionally, you can phone, and get the individual insurers to give you information on the cover and packages they provide. While more time consuming, this more personal approach will deliver the best results for you in terms of cost.

Also, give thought to your driving tendencies, as well as your vehicle. Realize that your costs may be more if you are a reckless driver, but improving these habits over the long term will get you lower rates.

Beware Before Signing:

Before you sign on the dotted line with any insurer for your CTP Greenslips, do your homework. Read through the contract to know what you are signing and how much it will cost you. Do these numbers match the quotes you were given? Because the government regulates who can provide CTP Greenslips for you, you are likely to have no problem trusting the company, but that doesn't mean you shouldn't take note of the contract's fine details.

Additional Coverage to Consider:

While CTP Greenslips are a very necessary type of insurance coverage for your vehicle (you can't drive or get a registration for your car without it) this is not the only type of insurance that you need to remain safe. Comprehensive coverage is also required. It will provide you with protection from loss of your vehicle as well as that of another person you are involved with in an accident.

Insurance Compared provides consumers and businesses with explanations and information on most of the different types of CTP Green Slips (3rd party insurance) available today. Insurance Compared is working to take the mystery out of insurance policies and create transparency so that everyone has the right insurance for them (and nothing more). Find out more at http://www.insurancecompared.com.au/explained/vehicle/ctp.php.

Top Tips When Looking For Static Caravan Holiday Home Insurance - Part 2

2008-10-17T13:39:00.001-07:00

By H Robinson

Some insurance companies will ask if your holiday home is anchored down. This can minimise storm damage, especially if your static is sited on an exposed park, open to the elements. This could be an essential requirement on your policy so speak to your park owner or manager, as failure to anchor your holiday home may invalidate your policy.

The sum insured under your insurance policy should not only include the value of the holiday home, but it should also cover any additional items such as verandas, patios and even extras such as sheds. If you are unsure about the value of your holiday home, your park owner should be able to give you a market value or new for old valuation.

Debris removal and resiting cover should cover the cost of removing debris from the pitch should your holiday home be a total loss. It should also pay for the transportation and reconnection of a new holiday home to the mains.

Items taken from the home to your holiday home are called personal effects. You may be able to include these in your holiday home insurance. However, most household policies will cover these items, so it's always best to check with your home insurer so you don't pay for cover you don't need.

Caravan parks will usually insist on their residents having a certain level of public liability insurance. This cover should offer protection should you, your family, or anyone you have lent the holiday home to, cause injury to someone else or damage someone else's property.

Finally, when contacting insurance providers, check that a leading, solvent insurance company underwrites their policies. You want to be sure the insurance company is around to pay claims if and when the worst happens.

Heather Robinson of Leisuredays. Leisuredays insurance specialise in static caravan holiday home insurance in the UK. For more information about insuring your holiday home, visit http://www.leisuredays.co.uk Leisuredays is a trading name of Caravan Guard Limited, which is authorised and regulated by the Financial Services Authority.

Insurance Crackdown

2008-10-17T13:38:00.000-07:00

By Barry Loughran

Insurance is taken out for piece of mind, if you partake in an activity where there is a possibility that you may lose or damage something of high value or importance then it would be wise to insure that object. With the sheer number of different insurance policies out there for pretty much every product and every event, there is no shock to read that fraudulent claims have rocketed in recent years.

This has resulted in a stamp down on the way in which claims are handled as the insurers struggle to identify a genuine claim from a fraudulent claim. The stamp down has only negative repercussions for most as the border line genuine claims face being rejected due to tighter terms and conditions, higher premiums to make up for lost cash and even reduced policies for certain items.

If you have a claim rejected then you can still claim your money back if you feel that it was an unfair decision. If you fail to achieve any success after making an appeal then you can contact the financial ombudsman to complain about your insurance service.

The financial ombudsman has seen a large number of queries recently with the volume increasing by up to 25% in the past 12 months. This can be down to a number of reasons including stricter policies to people being confused over the wording on the contract.

Insurance is important and you will need to take it out many times in your life so you should ensure you follow the correct procedure when possible when making a claim.

You can obtain insurance for many things but you should always have car insurance, home insurance and travel insurance when traveling abroad. If you don't then you may be subject to losing a lot of money.

Talking About Car Cover

2008-10-17T13:37:00.000-07:00

By David H Thomson

Car cover is compulsory, meaning that it is an offense to drive a motor vehicle on UK roads without having an insured vehicle. Saying that, there are a number of options available as to what insurance you actually buy. The following should give you an idea as to what to do. Bear in mind also, that when going to buy insurance from a provider that, while most policies are the same, the terms are not. So this means that when you buy some insurance for yourself and your vehicle, it is worthwhile having a clear discussion with the broker and finding out just what you will get for your money.

Insurance for you and your car covers, to varying degrees, liability that you may incur if you injure somebody or, damage other people's property while driving. It simply means that if the worst happens and an accident occurs, then you can be covered for a large amount of the costs needed to put things right.

Cover comes in a variety of forms, but the basic idea is that you can cover yourself to a minimum amount or to a fully comprehensive amount, which will take care of almost all eventualities while you are out on the road. Fully comprehensive cover can also cover the inconvenience of having a damaged car, with many insurers often offering replacement (courtesy) cars as part of a fully comprehensive service package.

The first type of insurance cover you can take out when it comes to motoring is third party insurance. This is the basic kind of car cover you can buy, and covers the impact of damage and injuries caused by you against someone else and/or their car. You and your vehicle are not covered by this type of policy. In this sense it may seem a little risky to most people, but for obvious reasons the cost of it is low.

Third party fire and theft takes the level of cover one step higher, and is designed to protect you as well as anyone involved in some unfortunate incident with you. This level of cover insures against replacement or repair of your car if it stolen or destroyed or damaged by fire.

Then, as explained earlier, the fullest level of cover comes under the name of fully comprehensive. This cover protects you for most eventualities. For example, it covers you if your car is damaged by an accident caused by yourself. Windscreen damage may also be covered by such a policy, for example.

Fully comprehensive insurance protects your car for all manner of uses, often including travel to work, and for pleasure. There are even some fully comprehensive policies that cover you when you wish to drive someone else's car (with their permission). This last type of cover often only covers you for any third party damage, so be wary of this.

Make sure you know exactly what type of car cover you are paying for when you take out a policy. This means asking what the cover entails and whether there are any extras that would make the cover more competitive.

David Thomson is Chief Executive of BestDealInsurance an independent specialist broker dedicated to giving consumers the best insurance deal. They offer great value home, life and car insurance.

How to Find the Cheapest Greenslips in Australia

2008-10-16T04:37:00.002-07:00

By Jo Thomas

Greenslips are compulsory, but you can still choose the company you buy this insurance from. From previous experience, you may know that there can be a radical difference in the price offered between the various companies. Seeking out the cheapest greenslips in Australia usually requires investing time in researching your options, including considering companies you may not already be familiar with.

Getting Low Cost Insurance:

Whenever you purchase any insurance, take the time to find the least costing product available by comparing quotes offered by several companies. Quotes are offer no obligation and they provide you with a clear, well defined offer. They outline is available to you, what the overall costs in terms of premiums and the cover they provide. They will include exclusions on this quote too, so you know if some type of insurance, incident or accident is not included. Fact by fact you can compare one company to the next this way. While it make take you a bit of time to really get to the bottom of which insurance provider is offering the lowest rated policy out there, it is well worth it if you can save $100, $200 or more from one policy to the next. Since greenslips are often offering about the same amount of cover to you, from one company to the next, there is little reason to work with one company instead of another.

What Makes Rates Different?

Prior to your search for the lowest price greenslips in Australia, you should understand that there are a few differences in cost based on who you are. This is why your rate may be different from your friend's. There are various instances where rates will fluctuate. This is generally based on the amount of risk you are, as statistics have shown to the insurance company. They use complex formulas while analysing data from the past few years. Here are some of the areas that they used to calculate how much they will charge you.

* Age: Without doubt many youthful drivers are less experienced and much more likely to make errors, intentionally or unintentionally. The younger you are the more risk you present and therefore the higher the greenslip charge will be. If there is more than one person driving the vehicle, the risks for all drivers are considered.

* Accident Record: Are you someone that has never been in a driving accident and therefore you have never been responsible for any claims? This in and of itself is one of the best ways to keep your greenslips costs low. The better your driving record is, the lower your costs will be.

* Vehicle: The type of vehicle you own is also an important part of the cost. Some vehicles carry more risk than others because of how they are driven. More importantly, the high end vehicle has a higher replacement cost and is more likely to be stolen.

With these thoughts in mind, you can now calculate the costs that you will be charged for greenslips in Australia.

Obtaining the Lowest Cost Greenslips in Australia:

In Australia, only specific companies have been approved to sell and manage greenslips within the country. Those companies include:

* AAMI

* Allianz

* CIC Allianz

* GIO

* NRMA

* QBE

* Zurich

Each of these companies is able to sell greenslips, but there is no regulation on the charges that one can charge over the others. Therefore, you could spend a few hours and get quotes from each one of these companies to compare and then make your choice. This would be the most direct way to get the information you need personalized for your specific goal. Yet, you may not have to go through all that work.

Rather, the Motor Accident Authority has already put together a comprehensive website that will gather your information and help you get the quotes you need. You can visit their website any time, supply the information you have about the type of insurance you need your personal information as well as your vehicle information and get quotes. Generally, this process takes about 15 minutes to complete because you can gather information as you go.

What is nice about the Motor Accident Authority is that they keep the website updated and allow you to find the information you need fairly quickly. It takes only a few minutes to get an idea of which company will provide you with the lowest rate. The information is stated plainly, and this includes the differences which the policies may have.

As you consider your need for the cheapest greenslips in Australia, realize that you do need to keep up on the costs over time. Companies often will try to sway you into working with them, so be sure you are paying attention throughout the process.

Researching the best price greenslips in Australia? Looking for answers to many common greenslip questions? Find them at Insurance Compared, the premier resource for everything you need to know about insurance. This company is working to ensure insurance is understandable so you can find exactly the insurance you need. Learn more at => http://www.insurancecompared.com.au/explained/vehicle/ctp.php

General Liability Insurance, Variations and Coverage Summary

2008-10-16T04:37:00.001-07:00

By Dean Markham

The current Insurance Services Office (ISO) Commercial General Liability (CGL) Coverage Form is comprehensive in nature. It insures the bodily injury and property damage exposures of commercial ventures. It may be written as a monoline policy or combined with other lines of to form a Commercial Package Policy (CPP). This comprehensive nature of the form eliminates having to select and group individual or specific hazards, with the resulting potential gaps in coverage. Coverage applies to:

Premises liability arising out of the ownership, maintenance or use of the premises;

Products liability for goods and products manufactured, sold or distributed;

Completed operations liability for services provided or work done for others;

Personal injury liability and advertising injury liability of the insured; and

Medical payments coverage.

Each of these coverage's is subject to certain policy definitions, exclusions and limitations.

The basic CGL coverage form can be tailored with a number and variety of optional forms and endorsements that broaden, delete, restrict, add or modify the form's basic coverage's to result in a coverage form specifically designed for the individual insured.

ISO developed two CGL coverage forms for general use;

CG 00 01, is the "occurrence" form. It covers losses where the injury or damage occurs during the covered policy period, regardless of when the company is notified of the loss or claim. The key to this coverage approach is the date of loss or the period of time when the loss occurs.

CG 00 02 is the "claims-made" coverage form. With this form, coverage is triggered by the actual filing date or receipt of the claim, in addition to the date or period of time in which the loss or injury occurs. This form handles any covered loss or claim filed during the policy period, regardless of when the actual loss or injury occurred. This is subject to the retroactive date indicated on the declarations. While the retroactive date can be any date, for complete protection it should be the first date that claims-made coverage was applied to the risk. This is because an occurrence coverage form applies to any loss or damage before that date. Claims-made coverage applies only to covered losses occurring after the retroactive date.

commercial insurance quotes for all business types @ http://www.mcisinc.com

Listed are some of the numerous different companies that write this general liability coverage: AIG, American Safety, Arrowhead, Burlington-Guilford, Century Surety, CNA, CorerX, Evanston, Gemini-Vela, General Star, Golden Bear, Hartford, Lexington, Liberty International, Liberty Surplus, Lloyds of London-SHG, Markel, Maxum, Mt. Hawley, National Environmental, National Liberty & Fire, Nevada Risk, No. American Capacity, OneBeacon, ProBuilders, RLI, Safeco, Scottsdale, Travelers, United National, Western Risk & Zurich.

How to Compare Insurance Quotes Accurately

2008-10-15T09:01:00.001-07:00

By Tyler Dewitt

Do you want to know more about how to compare insurance quotes? By understanding how to compare insurance quotes quickly and effectively, you can manage to save yourself hundreds of dollars every month on your insurance rates. At the same time, by using poor methods to help you compare insurance quotes, you may get stuck with an insurance policy that does not provide you with the coverage you need or that costs more than you should be paying for an insurance policy.

How to Compare Insurance Quotes from the Comfort of Home

If you want to compare insurance quotes from the comfort of home, you have many options available to you. Before the Internet, the only method for comparing insurance rates from home was to call various insurance companies and ask them for a quote. Now, you have more options available to you. For example, you can go on the Internet and visit the websites of a variety of different insurance companies and request quotes from their sites. To make the entire process simpler, however, many people have turned to websites that gather information from a variety of different insurance companies in order to provide them with several insurance quotes from a number of different companies.

How to Compare Insurance Quotes Accurately

All three of these "stay at home" methods can help you accurately compare insurance rates. Of course, calling individual insurance companies or visiting the individual websites of insurance companies is a time consuming process that can be quite frustrating as well. In addition, you cannot be certain you are really comparing similar policies to each other. In other words, one company may set the deductibles higher in order to make your premiums lower or they may decrease your benefits in order to quote a lower monthly premium.

One of the advantages of using one website to help you gather insurance quotes is that you can request quotes for specific benefit and deductible amounts. This way, you can be certain the insurance policies you are comparing are truly the same.

Considering More Than Just the Costs

When it comes to understanding how to compare insurance quotes, you need to consider more than just the premium amounts, the deductible amounts and the amount of the benefits. You should also consider the reputation of the insurance company and the accessibility of a representative. After all, if you are involved in an accident or your vehicle become damage, you want to make sure the company you work with will be responsive to your needs and will actually pay out the benefit you deserve.

Before signing a policy with an insurance company, you should also be certain to read the policy carefully. All insurance policies will have certain exclusions in place, which means certain items are not covered by the policy. To be sure you are receiving the coverage you think you have, you need to read through the policy and make certain the proper coverage is in place.

This article was dedicated by Leading Insurance Quotes, known as LIQ. If you would like to compare multiple quotes and ave on your premium today visit Leading Insurance Quotes to find the cheapest insurance quote today!

Stop - Read This Before Renewing Your Insurance

2008-10-15T09:00:00.002-07:00

By Sid Dodds

Spending Diary

If you are looking to save some money in the current financial market then start a diary to record where you are spending your money one of the first things to consider is Insurance the two largest areas for insurance spend are:

car

house

How to save some money on these areas of expenditure

When your insurance is due for renewal shop around don't just renew with you current insurer especially if you pay by monthly direct debit its easy to just let it renew but you miss out on all the first year discounts that they give you at renewal.

Last year my household insurance renewal came through and it had gone up by a third the first new company that I telephoned offered me a saving of a couple of hundred pounds compared to my renewal.

I went back to my current insurer to tell them that I wasn't going to renew and they the put me through to a special department who were all pally and then undercut the new insurer by £5 saying they wanted new customers but didn't want to lose they ones that they had. Boy did I milk that for a few minutes.

I have done this with motor insurance in the past but the prices seem much keener and I haven't ever really saved more than about £10, this is with the direct insurers. But if you have experienced a big increase and have had no claims or convictions I would have a look around.

So the moral of the story is shop around just for the peace of mind that you are paying a decent price for the cover that you want.

You need to make sure that you have the correct level of sum insured for the buildings and contents that you have.

If you are under insured when it comes to claim time you might not get back as much as you thought.

At renewal check that the buildings and contents sum insured's have increased. If you have unusual items or individual items pianos, glassware, stamps, lawns mowers, jewelry watches these probably need to be specified to the insurance company individually depending on you policy.

If they are not specified if you needed to make a claim it could be refused or a lower amount paid out.

If you are looking to save money then have a look at this website http://www.havelotsofcash.co.uk

Can I Collect Unemployment Benefits?

2008-10-15T09:00:00.001-07:00

By Chuck Linart

First of all, unemployment is not welfare; it is insurance. You paid into it, and if you are entitled to it, darn Skippy you should take it.

The questions you need to ask yourself are these:

1) Was I fired through any fault of my own?

If the answer is "no" or "debatable," then continue reading. If the answer is something like, "Yes, I got frustrated and destroyed my work computer with an axe," just stop reading now because you're probably not eligible.

2) Am I making money now through business activity or part-time employment?

If the answer is "no," keep reading. If the answer is "yes," you might still be eligible in many states, depending on how much you're making.

3) Am I actively looking for work?

We should hope so. If not, you're definitely not eligible.

If you believe you may be entitled to collect unemployment benefits, you should absolutely file a claim. You and your former employer have been paying into this fund. Now you need it. Take it! If you paid into health insurance you'd file a claim if you got sick, right? Same thing here. One more time: Unemployment benefits are not welfare, they are insurance, and you should not feel the least bit guilty about collecting if you are legitimately entitled to collect.

Even if you don't think you qualify, you should still file a claim (unless you smashed your work computer to bits with an axe). If nothing else, it can help clear the air on the circumstances of your dismissal.

Don't leave money on the table!

Join this supportive online community of unemployed people!

Personal Injury Specialist!

2008-10-15T08:59:00.004-07:00

By Sadhana Dhanyal

If you have been injured in an accident and wish to secure compensation for the same, you can benefit by opting for personal injury claims. You are eligible for compensation if you have suffered an injury due to somebody else's fault. If you are confused as to how to go about the entire process, you can approach a personal injury specialist. These specialists have in depth experience in handling accident claims. They can help you get all the required information quickly and easily.

Most of the people fear securing suitable compensation as they feel it is a time consuming task. However, with little guidance, you can simplify the whole process. You can get suitable reimbursement for the losses suffered. The problem arises when a person being injured finds it difficult to run around to secure compensation. You may be having problems with your health already, so you wouldn't like to handle the claim all by yourself. It is advisable to seek professional help and ease your burden. Personal injury specialist can help you get suitable claims for any injury suffered.

The injury claim specilists will not charge any fees and guarantee 100% compensation. You need not pay any fees for the service. The claim will be processed completely free under a 'no win no fee' policy. This means that you need not pay fees for the claim. A personal injury lawyer can help you get all the required information on personal injuries.

You can look online and choose from a wide variety of claim specialists. Most of the have a proven track record of handling personal injury claims successfully. You can avail this service free of cost. Besides, it also helps you save a considerable amount of money. These specialists will ensure that once your claim is in process, they will keep in touch with the situation at every stage of your case. You can trust them for confidentially handling your case.

In fact, personal injury specialist are a boon to anyone suffering from an accident injury. They can handle any type of injury successfully. They will help you choose a suitable compensation claim.

No one wishes to ruin their holiday by meeting with accidents. However, you cannot ignore this fact. It may be possible that you end up meeting with an accident while travelling. If you have been one such victim, you can make use of holiday compensation.

Log on to Personal injury lawyer in UK

Holiday compensation

Personal Injury Compensation!

2008-10-15T08:59:00.003-07:00

By Sadhana Dhanyal

The number of people suffering from injuries due to accidents is constantly on the rise. The injuries may result due to various reasons. They can occur either due to slipping, tripping, falling, road traffic accidents, injuries at the workplace and so on. Many a times, despite the best safety measures they still occur. If you have been one such victim, you may be having a tough time dealing with the situation. If you are protected with an insurance cover against injuries, you can deal with the situation well. However, if you are not, then it may be a trying situation for you.

You can opt for personal injury compensation if you have suffered an injury due to the negligence of somebody else. This will help you get the required amount of money as compensation for the loss that you may have suffered due to accident. Personal injury compensation has helped many people in the past secure compensation quickly.

You should also make sure that you assess the monetary worth of the personal injury before making a claim. It is a vital part of the claim. Every personal injury being unique, carries different compensation for it. Moreover, the individual circumstances too play a crucial role in assessing the worth of the claim. Personal injury compensation have dealt with such cases successfully. Benefit form their services and ease your burden.

The compensation you receive depends largely on the type of injury you have suffered and whether you're the injured party or the one responsible for the injury. If you are the injured party, you will be required to answer the compensation questions.

Many people have benefited from personal injury compensation. This kind of compensation claim involves a series of steps. One needs to follow the whole procedure to make a successful claim. In case the responsible party's insurance company has been involved, they may try to minimize the damages for pain and suffering. Hence, it is very important to approach an injury claim specialist who can help you deal with the situation well. Claims help online can help you get claim fast.

Generally, it is easy to secure compensation for smaller injuries. Your chances of getting a claim approved fast are more. If your injuries are grave and you are worried about the compensation, you can benefit by opting for claims help online. This service being available online is free and easily available to all. One need not pay any fees for it.

Moreover, you can also get free advice form a team of accidents claim specialists. They will guide you to take the appropriate steps and help you get compensation fast. They also specialize in various kinds of accident claims. Seek help from personal injury compensation!

Log on to Personal Injury Claim

For more information:

Claims help online

Online Whiplash Compensation Claims Company!

2008-10-15T08:59:00.001-07:00

By Sadhana Dhanyal

Most of the common injuries sustained in road traffic accidents are whiplash injuries. Scores of people are injured in road traffic accidents. Both drivers and passengers are affected by it. You can always seek suitable claim for the injuries suffered.

Generally, whiplash injuries are caused due to the sudden force of the vehicle. As a result, the passenger is pushed forward forcefully which results in head injuries. The force of the injury is such that the ligaments in the neck are stretched and torn by the sudden movement, resulting in damage along the spine between the top of the neck and the lower back.

Some of the common symptoms of whiplash injuries include neck and chest pain, stiffness and reduced movement in neck and back. These symptoms can also persist beyond six months after the accident. You need not suffer due to the fault of somebody else. Take corrective steps now by opting for whiplash claim compensation. Looking online can help you choose from the services of a wide variety of claim specialists. Online whiplash compensation claims company can help you seek suitable claim for injury suffered. The service is not only free and easy but also cost free.

Online whiplash claim is a hassle free process. You can get all the required information on whiplash injuries online. Enjoy the following benefits from this service now:

• You need not pay any fees for the service.

• Even if you lose your whiplash claim, you will not be forced to pay.

• You are assured of receiving 100 per cent of your compensation if your claim is successful.

• You just need to fill in an online whiplash claim form and submit it.

• You can get expert advice of whiplash solicitors.

Seeking help from online whiplash compensation claims company in UK can help fasten up the process of securing compensation. these companies have qualified and well experienced advisors who will take upon your case and provide the best solution for you. Do away with the hassle of running around to secure compensation. Make a successful claim by approaching them now. They will act on your behalf and help you get the full level of compensation you rightfully deserve.

Providing details of any eyewitnesses of the incident who can vouch for what happened. In case, you have any photographs of the scene, do provide the same.

For more information:

Whiplash solicitor

Whiplash Compensation Claims

Online Claims Company!

2008-10-15T08:58:00.002-07:00

By Sadhana Dhanyal

If you have been injured in an accident and wish to seek a claim for it quickly, you can opt for online claims company. Get compensation fast for the injuries suffered. By opting for online claims company in UK, you can fasten up the entire process of securing compensation. Benefit from their immense experience NOW!

You can also benefit form the advice of injury claim specialists who will provide you with all the required guidance on the claim. They will take upon your case and suggest the best solution for you. Looking online for help will ensure that you get the service free of cost and in a short period of time. Make best use of this service now.

The online mode of seeking compensation is very easy. You may have been involved in a road traffic accident or suffered an injury at the workplace. Whatever be the cause of injury, you can seek suitable claim for it. This service will enable you to get a suitable claim for any type of injury resulting from a car accident. You need not feel helpless if you are finding it difficult to secure compensation.

You may have suffered injuries at work or met with an accident while travelling. Accidents are inevitable. However, you can always take a suitable course of action to overcome the tough situation. Injuries at work place do occur despite the best safety measures. The employers are liable to provide adequate safety measures to all the employees. If you have suffered an injury due to falling and tripping, faulty equipments, dangerous machinery, loose wire connections left unchecked, you can always make a claim for it.

Online claims company serves specifically those who have met with an accident and are the residents of UK. It is a hassle free process of securing compensation. To secure compensation, you just need to fill in an application form and submit it online.

Employees are often exposed to a lot of physical hazards while at work. Long sitting hours can also affect their physical health adversely. The most common problem of such health hazard is back pain. Often, it is caused due to long hours spent at work station or by lifting heavy objects. It is the right of every employee to make a claim for the injuries suffered at the workplace. You need not fear losing your job by making a claim.

No win no fee claim company was first introduced as a method of funding. It was a replacement for the Legal Aid system for nearly all types of personal injury claims. Irrespective of the financial situation of the claimant, one can seek due compensation for the injuries suffered.

Benefit now from this service. One need not pay any fee for this type of claim. Online claims company in UK is here to help those looking for compensation quickly.

Log on to Online compensation claim

No win no fee claim company

No Win No Fee Solicitor!

2008-10-15T08:58:00.001-07:00

By Sadhana Dhanyal

No win no fee is also known as conditional fee agreements. They were introduced when Legal aid was still available for personal injury claims. It was done primarily with the purpose of helping people with incomes above legal aid eligibility limit, to fund personal injury litigation. Initially, people who had an income above the limit used to find it difficult to pay for a solicitor.

However, with the introduction of "no win no fee", things have changed. It has made easy for most of the people to secure claim as they can easily fund their civil cases. These claims have become very popular with people as it allows them to get compensation for a personal injury quickly.

You can also avail the services of no win no fee solicitor for further advice on these types of claims. Scores of people have benefited from their advice in the past. These solicitors have an in depth experience in handling compensation claim cases successfully. No win no fee solicitors have an in depth experience in handling injury claims. You can consult them for expert advice. Many people have benefited from their service in the past.

Often people are worried about paying a large amount of fees for the compensation claim. However, with no win no fee, one need not pay any fees for it. No matter whether you win or lose the case, you will not be required to pay fees. If you have suffered an injury due the fault of the driver, then you can seek suitable claim for it. Looking online will also help you get a claim fast. No win no fee solicitor too can help you deal with the situation well.

Those who have met with an injury know it well how difficult it is to deal with the situation. If you are insured against injuries, you are free form worries. In case, you are not, then things may be very difficult for you. Seeking compensation in such circumstances can seem like a tedious task. It is here that no win no fee solicitor can help you. These solicitors will make sure that you don't pay for the case. It is irrespective of the fact whether you win or lose the case.

You can easily seek compensation for the personal injuries by opting for personal injury compensation. You can seek advice on personal injuries form a team of personal injury solicitors. Don't get confused with the multitude of options available. These specialists have a proven track record of handling personal injury claims. Many people have benefited form this service in the past.

If you have suffered an accident or a personal injury that was not your fault, you are entitled to make a compensation claim. You can also seek advice from no win no fee solicitor. They can help you evaluate your compensation claim. They will make the entire process of seeking claim easy for you.

Log on to No win no fee lawyer

For more information:

Personal Injury Compensation

No Win No Fee Basis Claims Lawyer!

2008-10-15T08:57:00.000-07:00

By Sadhana Dhanyal

No win no fee accident claim is a type of claim which can help one get compensation for the injuries suffered due to the negligence of somebody else without paying any fees. It is a method of funding used to provide compensation for all types of personal injuries. If you have suffered an injury accidentally, you can make a claim for it. Approaching no win no fee basis claims lawyer can help you get claims fast. They can guide you on the entire procedure.

No win no fee accident claim was first introduced as a method of funding, as a replacement for the Legal Aid system for nearly all types of personal injury claims. Irrespective of the financial situation, one can avail this service. Personal injury solicitors too can help you deal with the situation well. One can even look online for quick service. You can get free advice online.

These claims assure you suitable compensation for the losses suffered. Approaching personal injury lawyer can also help you get the best advice. These lawyers are well experienced in handling such cases. You can benefit form their expert advice. They will help you get compensation for all kinds of accident claims.

In case, you don't stand a good chance of winning the case, they will advice you not to proceed further. They have in depth experience in handling compensation cases, viz:

• Car crashes

• Motorway accidents

• Motorcycle claims

• Bicycle accidents

• Claims against uninsured drivers

• Trips and slips including

• On the pavement

• In a shop or supermarket

• In a public place

• Accidents on land owned by

• Accidents at work and in factories

If you have suffered with an injury due to the carelessness of somebody, you can seek suitable claim for it. Most of the victims of personal injuries often hesitate to take action for fear of their compensation claim being turned down. Generally, personal injury cases can include car accidents, product defects, physical injury at workplace, medical malpractice, to name just a few.

No win no fee basis claims lawyer have helped scores of people get suitable claim for the injuries suffered. By making use of their service, one can get coverage for any medical treatments, replace lost income, and hopefully compensate for the pain and suffering had the person been involved in a very serious injury including permanent disability and even death. No win no fee basis claims lawyer can guide you through the entire process.

However, one should give due care to the type of personal injury claim specialist they approach. You should keep in mind that the claim specialist has relevant experience. Choosing a good personal injury lawyer with a good track record of successful negotiations is very important.

Log on to No win no fee accident claim.

Personal injury lawyer

The Importance of Student Content Insurance

2008-10-14T13:46:00.001-07:00

By Martin Ll Jones

Moving away from how can sometimes be a daunting thought, but if you are planning to attend University, the likely-hood is that you will be moving away from home into your own accommodation, often sharing with strangers. Before leaving for your new home, it's important to asses how safe your accommodation is and what the surrounding area is like, especially if you are moving to a large city. I cannot stress enough how important it is to insure your possessions at University in case of theft or accidental damage.

Student accommodations can be very enticing for thieves and burglars because they know that every student usually has a laptop or computer, expensive mobile phones and other valuable assets which can be easily sold on. Many companies offer specialist content insurance packages tailored for students, it is important to investigate these policies fully and compare different packages so that you are getting the right package which will suit your needs. I have put some tips below for you to check against your chosen student content insurance offers.

What does it cover?

Make sure the policy you have chosen covers exactly what you need to be covered, for example many companies offer packages which covers your general contents such as clothes and books etc, but offer a different package for covering more expensive items such as laptops and mobile phones. Don't choose not to cover those higher priced items because of the higher policy charges, these are often the most appealing items for thieves and are often the items you can't imagine living without, they are also much more expensive to replace if they are stolen. Also make sure to check if theft is covered, you can even have additional clauses such as accidental damage added to your policy.

Price

Don't just settle on the first quote you receive from the first company. It's advise to shop around extensively collecting numerous quotes from numerous companies, then make a shortlist of the ones which offer exactly what you need. I'm not saying that the cheapest is always the best, but if a company is offering you a lower price for the exact same specifications then it's a no-brainer. These companies want your custom, so don't be afraid to haggle on the price, tell them you've received a better price from one of their competitors, don't be afraid to do this even to a large company.

If something terrible does happen such as a break-in, you will be very glad that you are covered. You wont have to shell out another hundreds of pounds on a new laptop or have the inconvenience of being without a mobile phone, these items will simply be replaced by the insurance company. Not many student do this as they see it as an unnecessary expense and hassle, but this decision will be regretted in the event of a burglary or theft occurring on your university accommodation.

For more money saving tips, advice on student banking, budgeting, discounts, general student life and even making money, visit http://www.studentcashflow.co.uk

Understanding Insurance

2008-10-14T13:45:00.000-07:00

By Christian Seemuller

Almost everyone has had some experience with the practice of purchasing insurance, in one way or another. It may be that you were purchasing a home and the mortgage lender required Homeowners Insurance as a requirement of the loan. It may have been required when you purchased a car. Insurance is a device that allows for the transfer of all or part of a risk from one party to the insurance company. Each person pays a small, certain cost, the PREMIUM, to the insurance company, the INSURER. The INSURER, in turn, draws up a legal contract, the POLICY, between you, the INSURED and them, the INSURER.

Any legal contract, and in this case an insurance contract, needs to have certain parts to it to make it a valid contract. These "parts" are competent parties, a legal purpose, an offer and acceptance and consideration.

By definition, RISK is the chance or uncertainty of loss. For a RISK to be insurable it has to be measurable. PURE RISK is measurable. SPECULATIVE RISK is not. SPECULATIVE RISK. An example of SPECULATIVE RISK is investing in the stock market.

Life Insurance, specifically, is a contract that transfers risk of financial loss associated with premature death from the insured to the insurer. The need to cover the obligations that might be left behind upon death is the reason we need to be sure we are covered by a life insurance policy. The policy proceeds are paid by the insurance company to the beneficiary of the policy.

Use MyBeneLife.com for your life insurance needs and get instant Annuity Quotes.

5 Insurance Scams That Made the Headlines

2008-10-11T20:27:00.000-07:00

By Patrick Chong

There's a dark side to worldwide travel insurance - the fraud. The trouble is, it's notoriously hard to disprove fraudulent claims - especially in the travel sector and hundreds of people get away with it every year. Indeed, it's estimated to cost companies millions of pounds every year, and the extent of the problem is evidenced by this fact: there have been more worldwide travel insurance claims for Rolex watches, than have ever been manufactured. It's amusing on one level, but financially crippling on another - and damaging for all the honest types, who suffer higher premiums as a result.

Of course, there are far more risky instances of insurance fraud that have been taken - and often they've gone wrong in spectacular fashion. Here are 5 of the most memorable...

5. Mr Derek Nicholson

Derek Nicholson and his partner Jottie Nagle were accused of faking a drowning for a $1,000,000 insurance scam. Having taken out the life insurance policy just four days before the incident, it instantly seemed suspicious. After Nagle was told that she could not claim the life insurance policy for 12 years without a body, Mr Nicholson placed a call to the police claiming to have seen one matching his description, but this all unravelled when he was later found alive and well in New York. Despite pleading "not guilty" and claiming past confessions were not valid, they were convicted in 2004, and face a maximum 5 years imprisonment on the conspiracy charge and a maximum 6 years on the false distress charge.

4. Gaylan Sweet

This insurance scam is different from the others, as it actually is an inside job! Gaylan Sweet was a claims adjuster for Allstate insurance who concocted a scheme to share to defraud his company and pocket the money. Over 10 years, he pulled the same insurance scam twice, roping in two people to pose as parents of an imaginary child killed by an equally imaginary drunk driver and pocketing over $700,000 in the process. The case was a mixture of real and imaginary people: real deputy sheriffs' names were on police forms (though had never actually been involved in the case), real doctors had treated the fake children and there were various invented witnesses confirming the 'facts'. Sweet and his accomplices were eventually arrested in 2002 and jailed for five years for insurance fraud.

3. Mr John Magno

John Magno is currently awaiting trial for arson in relation to insurance fraud. In 2001, there was the biggest fire in Toronto's history at Woodbine Building Supply - due to its almost residential location, more than 50 families were forced to evacuate their homes on Christmas morning. Of the two individuals assumed to have committed the arson - Tony Jarcevic and Sam Paskalis - the former died and the latter was severely burned and left in a coma. Paskalis later admitted his involvement in the alleged scheme. Magno himself had increased his insurance two months before the incident and tried to cash in the $3,500,000 insurance policy shortly after the "accident".

2. Mr John Darwin

The most recent case in this list took the British media by storm when the full details were revealed. John Darwin went missing, assumed dead, after going canoeing in 2000. After a search turned up nothing, his wife claimed the insurance. Everything was quiet until December last year when the 'dead man' turned up in a London police station claiming memory loss and the belief that he was a missing person. This unravelled when a photo of the couple grinning together in Panama was revealed in the papers. Suffice it to say, the court found the couple to have lied to their children, their neighbours and police in aid of an insurance scam, and were both jailed for over six years for their scheme as their trial concluded last month.

1. Mr John Stonehouse, MP

But the most memorable instance of insurance fraud has to be the former Labour MP John Stonehouse. On November 20th 1974, he faked his suicide. Leaving behind only a pile of clothes on Miami beach, he was presumed dead - but actually heading to Australia to start a new life with his secretary Sheila Buckley. In an unlikely turn, he was found a month later by police who mistook him for the still illusive Lord Lucan! While awaiting trial in Brixton prison, he still remained a Labour MP, eventually resigning 3 weeks before his trial. This left the Labour party in a bind, as they were suddenly a minority government. They ended up forming a Liberal-Labour pact to stay in power until Thatcher's election victory 3 years later.

As for Stonehouse, he was tried on 18 charges of theft, forgery and conspiracy to commit insurance fraud. He was sentenced to 7 years in prison, serving 3 of them before being released early due to his poor health.

Quite a lot of "Johns" in the list - perhaps that's a clue for us, when looking at fraudulent worldwide travel insurance claims!

Of course, not everyone fakes their own death as part of an insurance scam - in 2007, Bosnian Amir Vehabovic staged his death to find out who his true friends were! After bribing undertakers to bury an empty coffin, he hid in the cemetery bushes to see how many of the 45 people invited appeared to show their respects. When only his mother showed up, Vehabovic was left sending angry letters to the missing parties!

As worldwide travel insurance scams are harder to prove, it's no surprise there have been fewer high profile cases. It's easier to explain the sudden appearance of a 'stolen ipod' than a man who died 5 years previously!

Patrick Chong is the Managing Director of Journey's Travel. Their commercial travel insurance website, Insuremore, offers cheap worldwide travel insurance and offer a quick and easy online claims feature.

Sport Bike Insurance Tips

2008-10-11T20:26:00.000-07:00

By Ryan Jefferson

Statistics have shown that sport bikes have many more accidents than other motorcycle types. Having a great amount of engine power, able to boost a rider at over 200mph, it can be dangerous for those riders that do not have much experience on the roads. This is why sport bike insurance does cost a lot more than other types.

When you are looking for sport bike insurance there are a few things you should know:

- Any customizations you have carried out on your sports bike (including wheels and bodywork) should be clearly stated in your insurance policy, because insurers usually cover the standard model with no modifications.

- Any performance enhancements should also be clearly stated in your policy.

- Modifications that could affect the sport bike's legality for your country should also be considered. For example: In some countries learner riders have a strict engine capacity restriction. If you are making a claim, the insurance company could easily refuse your claim due to having breached legal restrictions.

- If you are a bike enthusiast like I am, and enjoy taking your bike to the race track, ensure you know the insurance liabilities for any damages sustained on a race track. Many insurers will not cover payouts to damage associated with race track riding, unless it is explicitly negotiated for in your policy. Many riders are not aware of this, and that it is probably in their best interests to make this clear with the insurance company.

Hope this teaches you a few things about top Sport Bike Insurance companies - ensure you have all the necessary in black and white on paper, otherwise they can always deny you in the case of a claim!

Top Sport Bike Insurers and Merchandise!

Insurance to Make the Most of Earning Power

2008-10-10T18:25:00.005-07:00

By Kyle Y Widner

Businesses often have one thing in mind - to earn money. The higher the dollar amount attached to a corporation, the higher its value is seen. A company's good will is seen as the difference of its earnings when compared to just the earnings of its actual products. People are willing to pay money to keep their current and future earning potentials secure. And this idea of having financial security can also be applied to having insurance.

Crunching the numbers

Say that you have a machine that produces a small part needed for car manufacturing. If you subtract the amount that it costs in interest and supplies to keep the machine running, it earns a net total of $5,000 a year for you. Now if you know that the average lifetime of the machine is 20 years, you can expect it to earn $100,000 in its lifetime. So if this machine should be destroyed in a fire after only 5 years of operation, you would lose approximately $80,000.

You can use the same information to put a price tag on the life of any person in the household that is making a paycheck. Shouldn't this earning potential be as important as that of the machine?

Going back to the machine, think of what happens if the machine breaks down. That year, instead of earning $5,000, it costs $5,000 to get it back and running again. This same equation can be paralleled by a family member becoming ill and not being able to work. The family member not only is not bringing home a paycheck for that week, month, or year, but he or she is now costing the family money in the form of medical expenses, food, shelter, etc. This is where insurance comes in.

Protecting employees equals protecting the business

A valuable employee is to a business what the family breadwinner is to the family. More and more companies are starting to realize what an asset a good employee can be when it comes to making money. Therefore, more companies are taking out insurance policies for employees, and the higher up in a company someone is, the higher the dollar amount of the policy.

The debt scenario

Just like a machine can either earn or cost a company money, the actual books of a company can also do the same thing. The accounts of a business are expected to perform in a certain way, and preferably with an increase in earning. However, bad debts can decrease the amount of net income a company brings in at the end of the year. The only way to protect against these bad debts is through insurance. Insurance can protect the building or assets itself, the business, and the value of the goods. This only holds true for the value of the policy, but the better your insurance policy is, the better the protection.

When you have insurance on your business, goods, and employees, you are investing in the future. You are safeguarding your company against future damages, so that if they occur, you do not have to worry about your financial status.

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

Out of the Ordinary Insurance

2008-10-10T18:25:00.003-07:00

By Isla Campbell

When people think of insurance, they most likely conjure up images of cars, houses, travel and pets but there are some not-so-standard insurance policies that you may never have thought about!

Believe it or not there is actually a company in Florida which offers insurance against Alien Abduction! You can insure yourself against being kidnapped by extra-terrestrials, and if you are snatched by a bright light from the sky, then you need to hope you are dropped back on Earth so you can fill in the paperwork and make a claim. So if you're worried about seeing UFO's near your home or have been watching too many X-Files episodes then this type of insurance could be just the ticket.

Many celebrities over the years have insured parts of their bodies that were vital to their success. Michael Flatley insured his legs for millions, Bruce Springsteen covered his voice and Egon Ronay took out a policy on his taste buds. It's unlikely that most of the general public would consider such extreme measures but when there's big money and livelihood at stake, it can often make sense.

The term 'moral turpitude' is not one you hear every day but it refers to a type of insurance policy that covers celebrity endorsements when they go wrong. If, for example, a company paid a celebrity millions of pounds to endorse a product and then during that time the celebrity was convicted of wrongdoing then the policy would protect the company's investment.

Sporting events also come into play within the insurance market and not just in the way you might think with regards to sponsorships. Big sporting events like the Olympics and the Superbowl are often heavily insured against things going wrong and the event not being able to take place. One policy even covered Scottish football fans for trauma should Scotland ever go on to win the World Cup. Another possibility could be to insure against being hit by a stray ball at a golf event or cricket match, because you just never know.

In recent years insuring your pets has gone from being considered rather quirky and unnecessary to being a must have item for animal owners, so who knows what areas of insurance may grow in popularity in the future? All it needs is one or two confirmed Alien abductions and a whole new market could open up!

For most people however, such insurance is nothing short of fantastical and the likelihood of finding insurers to cover such bizarre potential occurrences is likely to be slim at best. There is of course a more down-to-earth side to insurance however than all of these extreme policies and remembering to get a home insurance quote for example before you move house will prove much more useful in your day-to-day life than wondering if E.T. is going to pay you a visit.

Isla Campbell writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.

Insurance Quotes, Save Money When Shopping Online

2008-10-10T18:25:00.001-07:00

By Dean Markham

In times of a recession threat, everyone is looking for ways to save money. And insurance premiums are one area you can cut costs immediately. However, most people don't shop their insurance because of the time and hassle.

Well not any more, with the advent of the internet you can simply go to your pc, open a browser, go to a search engine like Google and perform a search for the Commercial Insurance Quotes or what ever insurance type you are looking for. The search engine will return results of numerous websites where as you can log on to and request multiple insurance quotes by completing one simple form.

You can read about many different types of business insurance or personal insurances such as workers compensation, business auto, commercial property, general liability , personal auto, home owners, individual life insurance and health insurance.

Many have insurance terminology / definition sections so you can better understand the language used within an insurance policy. Find links to other insurance related resources categorized by state, websites like the specific states Department of Insurance.

Visitors can surf around the easy to navigate site and after determining what type of insurance they need, they can simply click the "Get Quoted" button found on each page, complete the short form and submit their insurance quote request, it's really that easy. Agents and Brokers will contact the visitor with quotes as requested.

All the time and hassle that used to be required when shopping insurance has now been done away with. No more sitting on the phone, calling from place to place to get multiple quotes so you can compare and be sure you are not over paying.

You simple submit one short form and wait for multiple quotes to be sent to you via email or fax, however you request. done at your convenience, from your home or office computer any time of day, 7 days a week.

Please keep in mind that when submitting insurance quote requests via the internet, ultimately, real people will be providing you with the services you requested and that it will take a little time (up to 72 hours) before an agent or broker contacts you, so please be patient. For example, if you request an insurance quote on Friday evening, unless there is an agency open on Saturday or Sunday, you most likely will not hear from anyone until Monday.

Dean A. Markham, Global Marketing Strategies, Internet Marketing, Online Business Promotion - http://www.ebiz-strategies.com internet business money making strategies.

Check us out - All Insurance Quotes http://www.iquoted.us commercial insurance quotes.

Best Insurance Policy is an Inoculation Against Uncertainties

2008-10-10T18:24:00.000-07:00

By Addi Vardhaman

Insurance guarantees a stated amount of money at the completion of a specified period. Besides providing for financial security in the case of ones untimely death, it can be used to accumulate a kitty for ones old age, for financing ones or children's education as well. It is also found that people very often take insurance just to save themselves from taxes.

Under section 88 of Income tax Act 1961, the government of India has offered tax incentives to life insurance products in India. The objective of this incentive is to facilitate the flow of funds for productive purposes. Under this offer a nominee of life insurance is entitled to a rebate of 20 percent on the annual premium payable on ones life or ones children. The rebate is deductible from the tax payable by the nominee of the life insurance. The rebate can be availed up to Rs 12000 at the most on payment of yearly premium of Rs 60,000.

The best insurance policy is the one with a proof that no one can take it away from the nominee after his /her death but only the one entitled to. One need not take out a number of insurance policies and take the burden of their management. Rather, take out only one i.e. the best insurance policy from a reputable company with a sound track record. One must ensure that ones life insurance policy pay out 15 to 30 times of ones annual income as capital when one dies.

By purchasing a life insurance, a potential customer purchases peace of mind. As such, a potential customer is all set to counter any financial crises that may come. On the other hand, the insurance companies to help the nominees meet such demand collect the premiums from other customers who face the same risk and pay out for the loss claimed by the customers. Insurance provides assistance even in times of drop in income after ones retirement.

Fortunately, a large number of private players have entered this field. As such, a potential customer has a wide range of products and services to choose from. Moreover, these many private players in the market offer products that specifically suit every type of customer. That is why the potential customers should devote certain time for life insurance comparison in India before actually applying for one. As the Indian insurance market is more diversified now with new products being launched at regular intervals, comparison of different life insurance policies help the potential customers get the best deal; it will help the potential customers reap the fruit of unique aspects of every insurance product and get the maximum profit.

With the introduction of the online facility life insurance comparison in India can be carried on via this mode as well, and perhaps, it is the most hassle free and the cheapest mode for this task. Seating within the comfort of ones home and just with the click of the mouse one can avail information of more or less all the insurance policies that exist. This facility can be utilised to clarify the jargon's and terminologies pertaining to finance as well. One can also avail of the experts opinion on the net. With the availability of various on line communities potential customers are able to join those communities and clarify their doubts pertaining to any insurance policy. Having devoted certain time on the net one can easily find the best insurance policy in India. Before applying for an insurance policy one should be clear in mind regarding the reasons purchasing a policy. Ones reason may be tax benefit or life coverage. Only after firming it up one must apply for one. Different companies have different eligibility criteria though the main coverage areas are similar. Thus, properly going through the policies is a must to find the policy that addresses ones needs properly.

About The Author: For more information about life insurance and general insurance. Please visit our website: paisawaisa.com/

Mortgage Insurance and Protection Choices - Protecting Your Home and Family

2008-10-10T05:09:00.000-07:00

By Marilyn Katz

Mortgage insurance or mortgage protection seems like it can mean more than one thing to the average consumer. I want to save people time and money, and also to make sure they find the right products that will help them feel more secure with a large investment like a home.

Many people think of private mortgage insurance (PMI). This product is usually required by lenders if the homeowner still owes more than 80% on their house. The proceeds are paid to the lender in the event that the borrower cannot make payments. It does protect the lender, but was not designed to provide protection to the homeowner. It can usually be avoided by making sure that you, as a homeowner, owe less than 80% of the value of your home. Sometimes this product is also called lender's mortgage insurance.

Another popular product is mortgage life insurance. These are term life policies that have a face value or death benefit that will cover the mortgage balance. The benefit will be paid to the policy beneficiaries upon the death of the insured person. Sometimes these policies also have disability or critical illness riders (options) to make them more flexible.

A popular option is the Return of Premium rider (ROP) which will pay the policy owner back the premiums paid in the event the term expires, and the insurance is not collected. For instance, a mortgage life policy may have a 20 year term and a $50 a month premium. If the insured person survives the policy, they can get back a check for $50 times 12 months times 20 years, or $6,000.

Term life policies are popular and affordable ways to cover mortgages in the event of a homeowner's death, and his or her loss of income to the family. However, many of us realize we are more likely to be unemployed than to die in the course of paying off our mortgage. A new and popular US product is called layoff protection or private unemployment protection.

Layoff protection plans pay a cash benefit to the plan member in the event ot a layoff. This money can be used to keep bills current, and is in addition to any state unemployment benefits they are entitled to. It is extra security that a mortgage or rent bill can be paid, loans can be kept current, and other bills can be paid in the event of temporary unemployment.

A final product that most homeowners seek is homeowner's insurance. This is property insurance, intended to cover the actual building in the event of damage. It may also provide liability coverage in case another person is injured on the property.

Have you heard about income protection that can be collected in addition to state unemployment benefits. This product has been popular in the UK for years, but is unique and new in the US market.

We can also help you find the best term life insurance quotes if you are looking for the best mortgage life insurance plan.

Auto Transport Insurance

2008-10-09T13:20:00.001-07:00

By Shiji Shijina

One important thing that has to be kept in mind before choosing a car transport company is the amount of insurance coverage that will be provided by them while the car is in their custody. Most auto transport companies do provide an insurance policy to their clients so that if their car faces any damage while shipping they can get a claim.

All the insurance agreements and responsibility for damages between you and your auto transport company should be included within your contract. When a valuable classic, vintage race car has been shipped apart from general insurance, a temporary type of insurance coverage has to be covered. Such coverage may be available through your auto transport company and added to the cost of your vehicle's transport.

Following things have to kept in mind:According to law the auto transport company will be having an insurance certificate which can be collected. You can freely ask them certain questions like what kind of policies they have, if any damage occurs during shipping will it be covered or only certain parts of the car will be covered. Keep in mind that any assurances that the auto transport companies gives should be in writing. Just see that if there are any personal items in the car. If yes, then remove it. The reason being the auto transport company will not cover any objects in the car.

When you drop your car at the shipping company, a transport truck driver will inspect your vehicle before loading it to check is their any damage. Be with the transport truck driver during the examination. Again an inspection takes place during unloading to check if any damage has taken place during shipping. Be there will the inspection process takes place and note down all damages on the condition report before receiving the car. Try to carry a camera with you for documentation. If you are taking possession of the car at night, try to do the inspection under bright lights. If you find any reason to file a claim, do it as soon as you take delivery of your vehicle.

If you do not note down the damages in the condition report it will be impossible to prove that the car transport company was responsible for the damages. If you feel that the auto transport company has not given full claim for your vehicle then you can file a complaint with your local better business bureau. You can also contact the U.S. Department if your vehicle was transported over state lines. But, U.S. department of transportation cant help you if there is already a court judgment against the company.

Shijina is an expert author for Auto transport and vehicle shipping. She written many articles like Vehicle transport, car shipping and car transport. For more information visit our site aaat.com Contact me at shijinaseo@gmail.com

Think You Can Live Without Paying For Insurance? - Think Again!

2008-10-08T14:14:00.003-07:00

By Lance Winslow

Many people have a problem and disdain for buying insurance and generally these folks do not buy insurance unless they absolutely have to. In other words, unless they are worried about being arrested for not having insurance, they simply never purchase it.

Of course, we all know that if you borrow money for a car or home, the bank makes you buy insurance to protect their asset; the home you live in or the car that you drive. If you do not purchase that insurance the bank buys it for you and charges you for it. If you do not pay, they repossess or foreclose.

Many Americans do not have health insurance either and many of them by choice, as they simply do not want to pay the monthly premiums. If you are self employed as 10% of all Americans are you might not be forced to buy health insurance and so you don't.

Forty-five million Americans do not have health insurance and some analysts believe that nearly half do not purchase it by choice. That's fine unless something goes wrong; have you seen the price of health care lately?

If you drive a car and get involved in an accident, even if it is not your fault, you could be assigned partial blame and if someone is injured severely you could be sued for your entire life's savings, without insurance you will have to pay if you lose the court battle, pay for the attorneys and they will seize your assets if you cannot pay.

Can you see why you need insurance or you could lose everything? This is why you need to buy insurance. Please consider all this.

"Lance Winslow" - Lance Winslow's Bio. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/.

Art Insurance - How to Keep Your Art Investments Safe

2008-10-08T14:14:00.001-07:00

By Judith A. Tartt

One of the best ways to keep your art investments safe is to insure them, ie, get art insurance. Following is what you need to do to get the most art insurance at the best price.

The Art of Fine Art Insurance: What You Need to Do to Insure Your Art Investments

Following are some insurance tips for art investors.

Art Insurance: Photograph Your Collection. This is one of the first things you need to do when seeking art insurance. Take multiple sets of photos - at least two. Be sure to take shots from different angles so that you will be able to definitely prove the authenticity and condition of a piece if it is lost, stolen or damaged.

Put one set of photos in a safety security box and keep one at home. You may even want to take a third set of photos to give to your attorney and/or the executor of your will. The key to remember is to take multiple sets of identical photos, not just one.

Art Insurance: Photograph/Store Additional Paperwork. In addition to taking photos of the actual art piece(s), you should also photograph supporting documentation. For example, original sales receipts, paperwork that supports its provenance, appraisals and anything else that supports the value of a piece.

Art Insurance: Create E-Files. As a backup to photographing supporting documentation, where possible, its also a good idea to create e-files. For example, you can scan sales receipts, turn them into pdf files and store them on your computer or on a remote server.

Art Insurers: What You Need to Know

There are insurance agencies that specialize in offering coverage only on art and antiques.

Or, you can take the alternative route and get your art insurance from the same company that provides your homeowners insurance. Many insurance companies offer discounts when a customer carries more than one policy with them (eg, a homeowners and an auto policy).

Depending on what you're having insured, and for how much, it will usually only cost a few more dollars per month if you add coverage for your art to your homeowners insurance policy.

The final thing to remember about art insurance is that it can be negotiated. Don't just accept the first quote. Shop around, ask questions and be sure to know exactly what you're getting. Like all insurance, there are loopholes in policies. You don't want to find out after the fact that a particular instance or situation wasn't covered.

Bottom line on Art Investments: If you make an investment in art, you need art insurance.

About the Author: Have old oil paintings, pastels, prints, photographs, furniture and/or jewelry sitting around? You could be sitting on a fortune and not know it. Art-Care.com is a community of art conservators, art appraisers and other art professionals. Find an expert, industry- certified art appraiser to tell you the value of your items at Art-Care.com. We provide an extensive list of highly regarded professionals in many fields - all for free.

Insurance For the Community

2008-10-07T14:13:00.003-07:00

By Sarah Martin

It might be unusual to think about, but insurance is actually a good idea for the entire community. When most people think of insurance, they think about how it can benefit them or their company on an individual basis. However, insurance also helps to benefit the same time, since whatever affects the individual also affects the entire community. Here is a look at how.

Providing for the future

By taking out an insurance policy against fire or flood or other property damage, you are not only taking care of your business in the present, but also safeguarding it for the future. Doing this shows that you have a stable business and company. A company that stays around has an impact on the community. On a personal level, having life insurance helps a man or woman to provide not only for their family while they are alive, but also for a period after they have died. Relieving the community of expenses

Many insurance policies can help remove the burden of caring for an individual from the community. For instance, workman's compensation insurance, disability insurance, maternity coverage, health insurance, and life insurance can all take care of a person, and/or their family, in a different instance where they would normally rely on the community to do so. This can help to prevent poverty and the reliance upon public aid in the event of an injury or disaster. Often, many of the natural disasters that would normally impoverish families would have less of an impact if the families had insurance.

Help maintain the standard of living

Insurance helps to make sure that individuals, families, and businesses aren't left penniless after a disaster. By doing so, they are able to maintain the current standard of living for those people.

Balance payments

Without insurance, the cost of things would shift dramatically. For instance, should a company have several debtors bankrupt out of loans; they would be forced to raise prices to make up for the difference. Then they would have to wait for money to come in again to be able to drop prices. This could have a huge impact on the market. By having insurance, losses like these are absorbed so that their impact on society is much less.

Reduce losses

Insurance also helps to reduce the actual calamities that it is designed to pay for. For instance, take discount car insurance. Because premiums for car insurance go up when there is an accident, many drivers are more careful while they are driving. By driving more carefully, there are fewer total accidents on the road.

Insurance equals equality

Having insurance allows small businesses to compete with larger businesses because the insurance helps to eliminate some of the risk. This can allow for more competition in the market and make it easier for small business owners to stay in business.

Having insurance is not beneficial just for the individual who carries the policy. Instead, it is beneficial to the entire community as a whole.

Sarah Martin is a freelance marketing writer based out of San Diego, CA. She specializes in insurance, business, and finance. For quotes for maternity coverage or discount car insurance, please visit http://cheap-insurance-rates.com/

Metropolitan's Field Force

2008-10-07T14:13:00.001-07:00

By Kyle Y Widner

Those who knew Mr. Knapp of the Metropolitan Life Insurance Company were not surprised when, early in 1879, he packed his bags and sailed for London. He was not the kind of man to be content with armchair studies; characteristically, he headed right for the fountainhead of information on industrial life insurance, Henry Harben, of the Prudential.

Mr. Knapp was given a cordial reception. His studies at firsthand confirmed his previous decision to enter the business. His next step, one without parallel in the annals of insurance history, was executed with typical boldness. He arranged with Brice Collard, a British insurance man, to become his local deputy and to send over a sizable number of Englishmen experienced in conducting industrial insurance, to launch Metropolitans new effort in the United States.

Between 1879 and 1884 Mr. Collard commuted back and forth from London to New York, bringing to our shores several hundred able men, together with their families. Once located in key centers, these men had a heroic task to accomplish-to hire and train local Agents in the new approach, and to organize and establish district offices from the very ground up-all at top speed. They had to teach a technique of selling policies for small amounts, of receiving the premiums weekly in the homes of the insured, and of accounting for this multitude of transactions to the home office.

Many circumstances conspired to make formidable the building of an industrial insurance business in this country. The depression of 1873 and its aftermath of liquidations and bankruptcies had seriously disturbed the economic life of the nation. This was the most disastrous period in American insurance history. Policyholders lost many millions of dollars in company failures, and public faith in the institution of life Insurance dropped to a low point.

Moreover, the American people had little or no knowledge of the advantages of industrial insurance the large majority had never even heard of it. Only the Prudential Insurance Company of America and the John Hancock Mutual Life Insurance Company were already in the field, and their operations were very restricted. There had been few fraternal organizations such as the English Friendly Societies to popularize among working people the practice of saving funds for the expenses of death.

Despite these difficulties, Metropolitan flourished from the very beginning, probably because of the experienced technique of the English Agents. The first industrial policy was issued on November 17, 1879 and before another year had passed more than 200,000 such policies were issued. The insurance in force multiplied by leaps and bounds. At the end of 1880, in a little over a year, the company had on its books more than $9,000,000 of industrial insurance.

This figure was virtually doubled during the next year. At the close of 1882 the industrial business in force exceeded $34,500,000. The company passed the $100,000,000 mark early in 1886, a little more than six years from the inception of the business. As the volume of business increased, so did the Field Force. A few weeks after industrial insurance was launched the company had three district offices, with 130 Field Men. The following year the strength of the Field Force increased to 750.

By 1883 more than 1,600 men were operating from nearly 50 district offices and the expansion of business and personnel continued apace. The insurance world viewed this development with amazement. The company's success had proved the enormous popular demand for this type of protection, previously almost altogether ignored.

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

What Did the GAO Say About the Availability of Terrorism Insurance?

2008-10-07T14:12:00.000-07:00

By Kimberley Ward

What did the recent GAO report on Terrorism insurance say and what does it mean to the insurance industry? This article presents the official conclusions and points out some other interesting facts found in the details of the report. Also, I provide my perspective on the terrorism insurance availability and call on the insurance industry to come to some consensus on the matter.

On Monday, September 15, the Government Accountability Office (GAO) released a study called "Terrorism Insurance: Status of Efforts by Policyholders to Obtain Coverage". (GAO-08-1057) As a member of the American Academy of Actuaries Terrorism Risk Insurance Subcommittee, I was involved in meetings in Washington DC as the GAO was pulling together expert opinions and background on the issues involved.

Background

The terrorist attacks of 9/11 are estimated to have caused insured losses of about 32.5 billion (as of 2006). Just after the attacks, the availability of coverage was severely impaired, causing problems in the real estate sector and other negative economic consequences.

To help mitigate these consequences, Congress enacted the Terrorism Risk Insurance Act of 2002, more commonly known as TRIA. Under TRIA, insured must offer terrorism insurance to their commercial policyholders on the same terms they offer for other coverages on the policy. In the event of a terrorist attack, the insurance industry is responsible for a deductible of 20% of their direct earned premium and 15% of losses after that. The US government would cover 85% up to a maximum of $100 billion annually. (NOTE: This seems very small compared to the financial services bailout being considered!)

The act has been reauthorized in 2005 and 2007, with changing amounts of deductible for the industry and changes in the lines of business covered. The current act doesn't expire until 2014.

The GAO was tasked with the objective to determine if specific markets in the US are having any trouble getting the amounts of coverage they wish to obtain. Specifically:

Availability of terrorism insurance in certain geographical areas

Factors limiting insurers' willingness to offer coverage

Advantages and disadvantages of some options for changes to TRIA or the funding mechanism.

The GAO study looked at take up rates, data on insurance companies, and interviews with more than 100 experts on various parts of the insurance process.

GAO Conclusions

The official GAO conclusions include:

That some high-value properties in major cities may face initial challenges in obtaining enough coverage, but eventually manage to by using several insurance companies in more complex insurance structures, buying separate terrorism coverage, or self-insuring

The current 'soft' market has helped the availability of terrorism insurance overall

Many insurance company CEOs worry about their overall exposure (aggregation limits) in some geographical areas and seek to control their concentration there.

There is a lack of consensus on what future TRIA options would be the most useful for improving the availability of terrorism insurance coverage.

I have garnered some other interesting information from the meat of the report. Other interesting facts from the GAO report:

The 'take-up rate', or the percentage of commercial insurance policyholders opting to buy terrorism coverage has been between 60% and 65% since 2004.

The cost has generally amounted to about 4% of annual premium for these customers. Note that coverage is not usually priced on a percentage basis, but as a loss cost that varies by territory. I'm assuming that the 4% refers to high risk areas since those were targeted in the scope of the study.

The policyholders that don't purchase coverage do so because they don't feel at risk or their lender doesn't require it.

Reinsurers and Rating Agencies may influence the purchase of terrorism insurance.

The GAO asked industry personnel about what options should be enacted to aid with the availability problems. They went on to say that no consensus of industry opinion was found. The options for modifying TRIA include:

Lowering TRIA industry deductible following large terrorist attacks

Permitting tax-deductible reserves for terrorism losses

Forming insurance pools for sharing assets and losses

Catastrophe bonds

Limiting state regulation and requirements

What does it mean for you

As an actuary, I have several take-aways from this report. In my opinion, the fact that the GAO didn't find any serious availability issues means that TRIA will remain in place, unchanged for some time to come, unless a big terrorist attack occurs. In that case, availability will 'harden' in the short term while losses are assessed.

From a risk management and actuarial point of view, controlling concentration (or your aggregation limits) is key to sleeping easy at night, even if it makes potential insurers (or their brokers) work harder to find coverage. That effort makes the system work better because spreading the loss is an important function of insurance.

The industry's lack of consensus when it comes to alternative options really hurts the industry's credibility and their ability to influence the options eventually selected. I think a industry-wide conference with interested stakeholders in the terrorism insurance arena would be a valuable first step to a more permanent terrorism insurance solution. In my mind, the government HAS to have a stake in the final arrangement, since the government's actions have a great influence on terrorism activity in the US.

You can read the GAO report GAO-08-1057 at gao.gov.

See Kimberley's blog at http://viewivorytower.blogspot.com and her company's website at http://wspactuaries.com

Galveston Needs Help to Rebuild From Hurricane Ike

2008-10-06T09:15:00.000-07:00

By Bruce Westbrook

Almost two weeks after Hurricane Ike slammed into the Texas Gulf Coast, thousands of people remain displaced from their homes on Galveston Island, where many residences were severely damaged or even destroyed. The long cleanup process is underway, but that process cannot proceed fully without full help and cooperation from the insurance companies who accepted policies designed to cover such events.

Getting an insurance company to make good on its policy can take weeks. According to the Texas Insurance Code, insurance companies have 15 days to begin investigation of a claim after a policy owner has notified them of it. (Written notification is advised.) But since the hurricane qualified as a natural disaster, the state insurance commissioner had the discretion to allow a 30-day period, which was granted.

One problem for homeowners is that, as soon as the investigation begins, the deadlines stop. Insurance companies can take as long as they need to send out insurance adjusters and others to investiate a claim. Meanwhile, the policy holder may remain homeless, or lacking a proper home in which to live.

After the insurance company has completed its investigation, it has 30 days (increased from 15 days after a natural disaster) to decide whether or not to accept and pay the claim. Upon making a decision to pay, it has five days to make payment.

These regulations mean it can take many weeks for an insurance company to make payment on a policy -- if payment is made at all. Homeowners, meanwhile, must be ever vigilant in ensuring that their claim is being processed in a timely manner. If it's not, then they may need to seek additional help.

Galveston homeowners who believe they're being subjected to insurance fraud by their homeowners insurance companies can seek legal remedies by contacting a Galveston hurricane insurance fraud lawyer with Jim S. Adler & Associates.