A coupé insurance company that will thieve me beside lots tickets?
I am looking around for the cheapest car insurance in state of NJ and own at least 5 tickets within the end 5 years…what car insurance company will take me for the best premium…thanx try this http://painintheexhaust.blogspot.com I hope you can consent to your foot off the…

A couple weeks ago some B**** run into the wager on of my motor and the insurance company is calling it.
a total loss. I need to find the blue book value so i don’t win screwed by insurance. Can anyone help me? It is a 1977 Oldsmobile Cutlass Supreme Brougham. I can not find it anywhere. ummmm…yeah is just…

A detail of texas companies that provide blue cross blue shield strength insurance?
i am looking for a list of companies in texas that use bcbs of texas strength insurance. This type of list does not exist except in the marketing department of BCBSTX. You could hire a flea market survey company to call every company of a certain size…

A document signed by the insued directing the insurance company to compensate benefits directly to the physician is?
~~It is called an assignment of benefits.~~ If you have a major medical policy, instinctively that would be assigned to the provider. But if you have a supplemental health policy, which pays directly to you, it’s not needed to assign the benefits…

A existing commanding officer the antagonist of the insurance companies friend of the general public -Why are the Americans afraid of him?
http://www.youtube.com/watch?v=C2oUInTUl?? Because if you own a serious illness, like cancer, your survival rate is much, much better contained by the USA. Because the US has many times more big tech diagnostics and other medical equipment per…

A give somebody the third degree in the order of Insurance companies and pre-existing conditions?
In Obama’s speech last night, one point is that he would get it illegal for insurance companies to discriminate against those with pre-existing medical conditions. What effect would this enjoy on us, the insurance companies, costs and our premiums? do you suggest it is…

A guy hit the rear of my toyota 4runner what should I settle for near his insurance company?
MY TRUCK FLIP OVER ON THE SIDE OF THE ROAD AND SHORTLY AFTER THAT THE GUY RAN RIGHT INTO THE BACK OF MY TRUCK. MY INSURANCE COMPANY IS STATING THE TRUCK IS TOTAL LOST DO ANYONE KNOW HOW THIS PROCESS WILL PLAY OUT?…

A insurance company claims I owe them money for a claim on my property, I have no ins.What could begin to me?
My chimney fell onto another persons vehicle, I had no homeowners insurance at the time. They are in a minute sending me the bill and threatening legal action. What is the worst overnight case scenario for me? The claim…

A insurance company that I own a misfortune claim plain against have sent me two checks?
one of the checks was made out to me and the repair shop. I got my vehicle fixed with that one. But I think they accidently sent me another check for like amount of 2,600. The guy told me not to cash that one he…

A little stone hit my car’s windshield… should I ask my insurance company to fix it??
Could it be worth? Yes, only if you pay for “AUTO GLASS” coverage. But if you don’t enjoy coverage, it’s a different story. absolutely seize it fixed asap. your insurance would rather pay for a windsheild to some extent than for an injury…

A motor insurance company sent me two check?
I was hit by someone while my car be parked and it was not my fault. The insurance company sent me two checks for impossible to tell apart amount. One was in my entitle with “supplemental payment” and the other one was contained by the body shop I chose and my name…

A relative have a lifetime annuity from an insurance company. Is the annuity past the worst?
The annuity is 20 plus years old, from a large insurance company. Are adjectives payments safe? Are they secured by cash reserves? As we hold seen all too okay, no company can be considered “safe” in this environment. Yes, insurance companies are required to hold…

A relative received a cheque from an insurance company mistakenly and he bank it. Is he liable to be sued?
The insurance company still has not found out the mistake. But, if they did, would my relative get within trouble with the law? Should he own up first? I doubt he will be sued, however once the insurance company…

A request for information to deduce in the region of: Why can’t you, or anyone else, start an insurance company and a short time ago product billions?
That seems to be the modern liberal train of thought revolving this issue: CEO’s are hording profits and all (I’m sure you’ve hear it before). But take a step back, Why can’t anyone…

A trailer truck hit me and the insurance company is offering me what seem to be a lame agreement, can they do this
It hit me and the police report said its his fault. I have no insurance so the trucks insurance company looks at my motor and says the care is worth $1,500 but the wreckage is $3,700. so they…

A vehicle tattered by and Insurance company for me get scratched, The rental company desires me to foot the deductible
If what you’re axiom is that your insurance company supplied you with a rental car, which you next scratched while it was in your possession, and the rental agency requests you to pay the damage deductible on the saloon, yes…

A very well prearranged insurance company use pretend detector sofware at their appointment meeting point in need recitation the customer.?
Is this illegal? I’m pretty sure it is, especially with regard to human rights etc. Not to worry – that sh*t don’t work anyway. Sounds great. Where do I receive the software. Does it work on TV soundbites. What use…

AARP INSURANCE COMPANY?
When it comes to AARP Insurance is this supported more by Republicans or the Democrats? It is such a big company but they do bother you if they get your name and they want you to sign up for everything. Any information would be appreciated in the region of your findings. AARP was created to MARKET insurance….

About how much am i gonna seize from the insurance company?
some a#(a)hole just blew a red light and totaled my 97 Chrysler Sebring coupe LXI. it have about 170,000 miles on the 2.5L V6 and automatic transmission. You can budge to KBB.com, put the particulars to your car into the question list and get the blue book pro of…

About insurance companies & workers Comp baggage?
Can you get in touch next to the Government about the bs Workers comp takes you through I hurt my pay for mild disc bulge pain and they don’t want to fix it They are trying to Avoid it by having me do physical psychiatric help ~~This is a better alternative than surgery. It…

About insurance that will cover a pregnant woman on their insurance..what insurance company can u recommend !!?
plz help my friends is pregnant and she doesn’t have insurance and immediately she want to get one but we dont know if theirs a insurance company that will cover this kind of situation..plz minister to No private health insurance company will sell a…

About long-term diligence insurance company financial strength?
Hello, I have long-term care insurance near Penn Treaty Network America insurance company. Just found out that they have a B-minus financial strength rating. Is B-minus “bad”? Are there stats concerning the dud rate of B-minus companies over the course, say, of 20 to 30 years? Does anyone know how long they’ve…

Accident be the other guy’s glitch. Should I call upon my insurance company?
I was recently involved contained by an accident with a minicab. The accident was the cab’s guiltiness. The cops gave him a ticket. The cab company is self insured and have agreed to pay for the damages. My insurance company is Geico. I am wondering if I should…

Accident next to company truck: will company insurance drop me?
Hello all, I was involved surrounded by an accident in a parking lot, which is turning out to be pretty downy as far as liability. If it is determined to be my fault will my company insurance drop me as an insured driver or raise the companies insurance premiums? I know…

Accident payout by insurance company.?
I am looking for information regarding the payout on past auto accident. Yes I know I can ask my agent but I would like to do this surreptitiously as I am considering changing insurance providers. So where on earth on the internet can I get this information? Call the claims department of your insurance company…

Accident, should i not appointment the insurance company?
i was in an disaster, dont know who was at fault. her motor han no damage but mine did, but i don’t want to call b/c if im at idiosyncrasy my rate will go up. im thniking of not calling in hopes she’ll not call upon, will this look bad if the insurance…

Accidental Death Claim- insurance companies own no timeframe to discharge claims?
A person was insured by an insurance company and have an accidental death insurance. Accident happen 11 month ago. Company still did not paid the claim and it appears that still have not collected even makeshift documents for their “investigation”. NY Insurance Department (I am from NY) says that…

Accidental insurance company,I don`t know heading is viking,they solitary charged $90.00 a year. not sure if i.e. the nam
this was last year when i get the info,pamplet,from choiropractor. Insurance was good for illustrious school sports injuries also.I’m in Minnesota. Two index depending on the home base of the company. Both have A+ ratings. Note: The ratings are…

Actuarial Science (related to Insurance, Financial Analysis of companies etc)-colleges?
Dont know what country your in but in the UK, Kent, sounthampton, heriott watt and LSE adjectives have actuarial science course or things extremely similar at search of yahoo type actuarial science colleges india ,you return with related links go through them for details.

Addresses of Indian Insurance companies?
Addresses etc. of all Indian Insurance companies To name a few National Insurance Company Ltd. (NIC) The Oriental Insurance Company Ltd. (OIC) United India Insurance Company Ltd. (UIIC) The New India Assurance Company Ltd. (NIAC) and dance on Yahoo india web site for more try these links its about london offshore nouns…

More Insurance Company quesions please visit : InsuranceQuotesFAQ.com

Source by insurancefaq

At a basic level a premium deficiency exists when unearned premium and expected future premium are not sufficient to cover future estimated losses, loss adjustment expenses, policy acquisition costs and maintenance costs. In other words, a premium deficiency reserve is required if you expect a net loss in future periods for the particular policy, line of business, segment or company that has already been written.
Divergence in practice have evolved regarding at what level one should apply their analysis and which method should be used to calculate any resulting reserve. Should one look to the policy level, and perform a review of multiple contracts or do one high level review? Once you determine you have a premium deficiency how should you calculate the premium deficiency reserve?

To answer these questions we first have to understand the theory and guidance relative to premium deficiency reserves. We will also look quickly at how practices have evolved over time in different segments of the insurance industry.

Guidance on Premium Deficiency Reserves
Generally Accepted Accounting Principles (“GAAP”) and Statutory Accounting Principles (“SAP”) are fairly consistent in their definitions of premium deficiency reserves. The general premise is that a premium deficiency reserve is required when unearned premium at a specific balance sheet date would be insufficient to cover expected future losses and loss adjustment expenses. Under GAAP one also considers the amortization of deferred policy acquisition costs and maintenance costs. As acquisition costs are expensed as incurred under statutory guidance they are excluded from a statutory analysis of premium deficiency. In practice we recommend that companies begin analyzing for premium deficiency when loss ratios exceed 90%.
In theory traditional recognition of premium and losses under GAAP and statutory guidance rely on the concept of matching. Both GAAP and SAP defer future income and attempt to recognize the income during the same period as associated future losses. However, when future losses are expected to exceed premium such losses must be accrued for when determinable. This concept of accruing for losses when they are detainable creates the need for premium deficiency reserves.

Premium Deficiency Reserves in Practice
In order to understand premium deficiency reserves fully it helps to understand the industries in which they are more commonly found. Industries such as life insurance, mortgage guarantee insurance and warranty insurance are typically required to analyze for premium deficiency reserves. These industries normally collect premium monthly to cover losses incurred during the associated period. In such industries unearned premium is minimal due to the premium earning cycle. Additionally, losses are not recorded until actually reported, as claims not yet reported are considered to be associated with future premium payments received. In order to determine premium deficiency reserves in these industries actuaries have historically performed projections of expected future premium. The present value of expected future premium inflow was than measured against the present value of expected future claims and applicable costs to determine the need for premium deficiency reserves.

While more frequent in lines of business with long-term contractual commitments such as life, warranty and mortgage guarantee insurance we have seen an increase in premium deficiency questions and recognition due to the current soft market. We have also noted a divergence in practice in the area of premium deficiency measurement in companies with multiple lines of business and operating companies.

Premium Deficiency Measurement
Statutory and GAAP guidance both state that an insurance contract should be grouped in a manner consistent with how policies are marketed, serviced and measured. GAAP guidance adds that contracts should be grouped using the same method as a company uses to measure profitability of its insurance contracts. While these definitions appear to be clear and concise there has been much debate regarding the specific language for contract groupings.

Extremes in practice have gone from using the total amount from the NAIC Annual Statement (creating one group and one PDR projections) to policy groupings based on each policyholder (creating one projection per customer). The most common form of grouping we have encountered is found between these extremes, grouping applied by line of business or legal entity.

In practice we have found that GAAP entities generally consider grouping on a consolidated entity basis and statutory entities generally group on a legal entity basis. Therefore a company with twenty legal entities writing two lines of business may end up with twenty individual analysis under statutory guidance and two under GAAP.

The level of grouping matters because of different rules regarding offsets between groups versus within a group. As stated in SSAS 53, “Deficiencies shall not be offset by anticipated profits in other policy groupings.”  A PDR can go no lower than zero for a particular group and therefore a negative indicated reserve for one group does not offset a positive indication in another group. However, unlimited offsetting is allowed within a group. Therefore, one group means unlimited offsetting and a lower PDR and multiple groups mean limited offsetting and a higher PDR.

We believe that groupings will continue to vary from company to company; however, we recommend that companies base their measurement decisions on the guidance provided and clearly document their reasoning for their application. One item to consider is that policies grouped together by large insurance carriers may be very different than the policy grouping for smaller insurance companies or captive insurance companies. This is easily illustrated by looking at the three consideration areas of marketing, servicing and measurement and contrasting them between a large nationwide home and auto carrier and comparing them to a small home and auto carrier in the North East.

A nationwide home and auto carrier may group all of New England together as one market circle if their pricing and marketing strategy is consistent by geographic area. They may also service policies based upon the same geographically determined market circles. Servicing of proof of loss, eligibility determinations, billing processing and claims processing may be organized geographically by regional headquarters.

However, a small home and auto carrier in the North East may elect to build a market niche by focusing on a specific risk such as farms, vacation homes or mobile homes. It would follow that they may organize departmentally into silos serving each market niche. Each company’s business model is different so their grouping for a PDR analysis should also be differ.

Calculating the Premium Deficiency
Once an analysis determines that there is a premium deficiency for a specific group of policies, one has to determine the value of the projected premium deficiency reserve. Doing so involves the actuarial determination of future claim costs, and premium inflows. There is no official guidance on what actuarial method should be used to calculate the anticipated investment income that may be included in the premium deficiency test.  As a result, there are varying industry practices. The two primary methods used in practice are the expected investment income approach and the discounting approach. The expected investment income approach computes anticipated investment income on all of the cash flows generated by current in-force contracts. The discounting approach discounts expected future payments for claim costs, claim adjustment expenses and maintenance costs. Both methods incorporate the time value of money into the calculation of the premium deficiency reserve.

Final Thoughts
Statutory and GAAP guidance does not define a consistent method of measuring and calculating premium deficiency reserves. In fact, guidance allows flexibility and judgment in application of policy grouping and calculation methods utilized. Whichever approach taken, the company should clearly document their reasoning and justify the selection of groupings and calculation methodology based upon applicable statutory and GAAP guidance. To avoid the possibility of audit adjustments and post close fire drills we recommend that companies with loss ratios over 90% implement a well documented and consistently executed policy for determining a premium deficiency reserves. Doing so will greatly reduce inquires from your auditors and regulators.

Source by Jason Sandner

Auto insurance rules differ from one state to another. These rules lay down specific guidelines with respect to types of coverage to be included in the insurance policy as well as the minimum amount that one should allocate under each coverage head.

The follwing is a brief outline of just how auto insurance works in Texas. Texas is a ‘tort state’ which means that you are responsible for the injuries you cause as a result of an accident. Therefore you have to have a proof of how you are going to pay up should you be involved in an accident. This obviously means that you have to have an auto insurance which has more than the minimum coverage. Hence minimum liability insurance is a must in Texas. The liability cover has to be a minimum of $20,000 per individual for bodily injuries that you cause to the other persons(s) and up to $40,000 for all. Apart from that, you have to be adequately covered to enable you to pay $15,000 for damage you cause to the other party’s personal property in the accident.

The Texas Personal Automobile Policy regulations offer eight types of coverage. By law you are required to have basic liability coverage. The other seven types are optional. If you are leasing or financing a new car however, dealers may require that you have collision and comprehensive coverage as well.

Penalties for violating the states’ financial responsibility laws are severe. A fine of $175 and $350 may have to be paid by the first time offender. For subsequent convictions $350 to $1,000 could be charged. Apart from this, the driver’s driving license can be suspended or, worse still, the automobile can be impounded by the authorities. To avoid this one has to carry the proof-of-insurance card at all times and produce for scrutiny on demand by law enforcement officer. This card is sent to the insurance policy holder after he purchases an automobile insurance.

Texas auto insurance law requires that rates for insurance offered in the state be reasonable but adequate. At the same time they should not be excessive to the risks for which they apply, and definitely not unfairly discriminatory. The law also allows the insurance companies to give discounts to people with lower risk and freedom to charge a higher premium for high risk individuals. Following are some of the reasons which can cause your insurance premium to go up or come down.

Age and marital status: Lower age and ‘unmarried’ marital status can attract a higher premium as they are considered more risky drivers.

Driver’s driving record: No accidents or tickets in the past can avoid a penalty which is generally in the form of a surcharge.

Urban vs. Rural: If your car is kept in an area classified as rural you are likely to pay a lesser premium compared to when you keep it in an urban surrounding. This is because in the former case, the automobile is less prone to theft.

Make of your car: Flashy, expensive cars are more theft prone compared to their lower end counterparts and hence may translate into higher premium for its owner.

Source by Jill Quinn

It is a good idea to have insurance if you start your own cleaning business. Typically, many businesses go with a cleaning business that has certain types of insurance. If you are doing residential cleaning, most homeowners will ask you about insurance too.  Indeed, having a good insurance policy, it is not only you who will be provided with peace of mind but the clients as well.

You can check locally in order to learn more about your insurance needs and the amount that it will cost you. You can contact your local insurance agents or brokers in order to gain advice regarding the right insurance for your business.

General liability insurance is the most important type of insurance that you should get for your business.  This is also known as property liability insurance. There will be a point that you can accidentally damage something, but in having such insurance, you can protect yourself and your client from this kind of situation. This kind of insurance can also covers injuries that you can get from business activities.

If you are wondering about the cost of this kind of insurance, cost of it depends on the numbers of your employees and business track record, since there are some services that can drive this kind of insurance way up and these services are window services, disaster clean to name a few.

You can contact few insurance companies and ask about the price in order to know the amount it will cost you in getting this insurance.

Bond is important in a business as well. One of these bonds is fidelity bond. This bond can help you protect those people you are doing business with. Like for instance, if an employee of yours was caught stealing from your client, the bond can protect you.

There are different varieties of fidelity bonds, these bonds covers different situations. You can get blanket bond to cover your staffs or any other bonds which you think will be best for your business. So, you need to check out the different bonds and know which they cover in order to come up with the right decisions.

Indeed, insurance and bonds can protect you and your clients, so even if they are not necessary required in putting up a cleaning business, getting insured and bonded are truly great ideas. These can help you gain trust from clients, since most clients prefer cleaning services that are insured and bonded.

For more info see: How To Start A Cleaning Business

Source by kelvin m young

Home insurance provides personally liability coverage for bodily injury and property damage to other people. However, the standard personal property insurance policy (homeowners, tenants or condo) does not extend liability coverage to any types of business use of the property including home daycare businesses. Occasionally, babysitting in your home is not considered a business, but when it becomes a day care business (defined as regularly caring for children on a regular schedule while receiving financial compensation), personal liability coverage would not apply.

If a home daycare provider has not arranged for liability coverage and a child is injured in any way, the home owner could be personally responsible for all damages. Therefore, it is important to purchase in-home childcare insurance if you have been or plan on starting a daycare business. Most of the time, this coverage can be added by rider to a homeowners, tenants, or condominium policy thereby eliminating the need to purchase a separate policy.

Some insurance companies offer the following protection through their coverage:

• Bodily injury and property damage resulting from your childcare operation.
• Allegations of sexual abuse involving children in your care
• Accidents, without regard to fault or liability, to children in your care. This is offered for both on and off your premises.
• Medical payments coverage
• Personal injury including libel, slander, wrongful eviction, wrongful entry, and alienation and affection of any daycare child.

It’s important to thoroughly check out the coverage available to you, to make sure that your home daycare business is properly insured.

According to the Government of Canada’s website on How to Start a Day Care Centre Business located at www.canadabusiness.ca, you should obtain the expertise of an insurance agent regarding insurance coverage for your business. If you own, rather than lease your place of business, you will need insurance coverage for your property. Also, regardless of property ownership, you will require insurance protection for furniture, fixtures and equipment. Some of the other areas you should be concerned about are liability coverage against mishaps, damages or lawsuits resulting from business operations and business interruption insurance. The Child Day Care Centre Regulations state that the details of insurance coverage of the home, with respect to the possessions of the residents, must be included in the admission agreement.”

You will also find comprehensive information on starting a daycare business, licenses and regulations, managing your operation, associations and contacts, education and training, resources, recommended books, video collection, and recommended websites to ensure your home daycare business is in full compliance with the laws of Canada.

If you provide daycare for friends and neighbors in your community on a regular basis, and consider it a home-based business, it would be in your best interest to contact your insurance broker to determine what coverage is needed based on the type of daycare you are providing. This will not only ensure that you are covered, but that the children are as well. It is in the best interest of all parties concerned that daycare provider insurance is purchased in case of any problem that may arise.

Source by Liane Wood

While a homeowner in Florida is not required by Florida law to purchase home insurance, a person who has just taken out a mortgage will likely find that the mortgage holder will have certain requirements in regards to home insurance. The requirements are pretty much the same no matter what mortgage lender a person works with, although there are some variations from lender to lender.

A person who is taking out a mortgage to buy a home should also consider the costs of home insurance for the house itself; property insurance is not necessary in this case. The mortgage holder will simply want to make sure that the person who is buying the home has coverage should the home for any reason sustain damage or loss of value. A new homeowner may need to hire a contractor to evaluate what the value of the home is; the contractor’s evaluation will then need to be verified by the bank that holds the mortgage.

Mortgage lenders will also want to know about the insurance policy’s deductible. The deductible, simply put, is the amount of money that a homeowner will need to pay on his or her own should damage occur to the house and/or the property. While it is expensive to purchase a policy that has a low deductible, in many cases banks will have a policy on what sort of minimum deductible is acceptable. On the other hand, a person who is buying a home should look over his or her finances carefully and make sure that he or she can pay for damage done to the house that will not be covered on the insurance policy that is being taken out.

Additional interests is another section of a home insurance policy that a bank will be very concerned about. In fact, if this part of the home insurance policy is not worded in accordance with the bank’s policy in this regard, the bank will not accept it. One should consult the bank before taking out a home insurance policy and request the bank to give the proper wording for this aspect of the home insurance policy.

When taking out Florida home insurance on a new house that is being purchased, it is important to do the research and take out a policy that is affordable, suitable and that meets the mortgage lender’s standards. This will make the final paperwork for closing the sale of the house a lot simpler and easier. A person who is unfamiliar with home insurance should consult both the mortgage lender and a competent home insurance policy holder in regards to what sort of home insurance policy would be the best option and agreeable to the lender.

Source by Todd Meyers

Car insurance is mandatory in the UAE and comparing services provided by different insurers is sensible. A good way to do this is through word of mouth, viz a viz, friends or colleagues and you can expect good reviews on prices and the claims service. Inquire about their claims history with their insurer and how these have been paid for.

Another easy and more credible way is to compare motor insurance online in Dubai. By Searching for car insurance companies online, you can easily compare quotes and offerings in a matter of minutes. Begin by short listing a mix and match of local and international companies and then comparing their prices and offerings.You will be amazed on how different they are!

Choose a company that provides 24-hour online support to its customers. From procuring quotes to purchasing policies and making claims, international insurers have robust IT systems and processes that ensure the ultimate convenience to the customer. You may also notice that international insurance companies give their customers an option of instant quotes, especially for motor insurance. With this option, a quote can be generated in a matter of seconds!

Most international insurers will provide comprehensive covers for a reasonable price with maximum protection. Speak to your insurance advisor to understand what covers best fit your needs. Claims free drivers are also given excellent offers and discounts on their car insurance. Not only that, they may also extend discounts to other products such as home, travel, personal accident, yacht, golf and medical insurance.

Opt for an international insurer with a good customer service reputation offering support via their call centre, website and branches. This not only assures you have convenient options to get in touch with them but also translates to quick assistance during an emergency or incident. <a rel=”nofollow” onclick=”javascript:ga(‘send’, ‘pageview’, ‘/outgoing/article_exit_link/4287537’);” href=”https://www.rsadirect.ae/Content/profile.asp?InsuranceType=M”>Compare motor insurance online in Dubai</a>  to get the best deals in insurance.

Source by Kinjal

All states have made a driving license and insurance compulsory. It’s not hard to get auto insurance when you are online but it can be hard and people are concerned when it comes to finding good coverage. You may not get adequate coverage if your credit score is not good. The reason for this is that you will have to pay more for your cover but there are ways around this to get cheap auto insurance.

Auto insurance companies who do not perform credit checks, sounds good doesn’t it! But they are available for those who have a low credit score. you will just need to find them and that is the hard part.

There are many auto insurance companies that perform a check on your credit information when calculating how much insurance premium to be charged when you pay monthly installments,

So always remember when you call for new insurance there are many insurers that are keeping an eye on your credit history. Don’t you worry after reading what I just mentioned! Whatever your situation is there must be some company who can offer you the best deal to  get cheap auto insurance.

Most of us are unsure why do companies perform credit check before you sign up any insurance claims. There are reasons why some insurance companies use your credit information. It is because there is a direct relationship between your credit history and the claims that may incur in future and your ability to pay for your premiums.

However, you may find some companies that provide no credit check auto insurance. If you are worried about your credit ratings that will affect your coverage you need to find these companies. For instance, companies like All State and Progressive do not perform credit checks under certain conditions. So don’t feel dejected, you will always get no credit check auto insurance even if you have bad credit ratings.

And even if you are unlucky in finding such insurance companies you may contact your state insurance department. They will help you provide necessary information you need to  get cheap auto insurance.

The other thing you can do is to search online using an insurance comparison site, They may not tell you if they perform credit check but you can get a good idea. You can do this by doing a search and then stating pay monthly as the payment method. The quotes you get that have a very narrow or no difference between paying monthly and paying yearly are those you need to look for as it is likely it is these ones that are not taking credit scores into account. Click here to get cheap auto insurance now.

Source by Brian Bannon

Commercial General Liability Insurance is one of the most commonly purchased types of small business insurance. But many small business owners still have lots of questions about what it is, why it’s needed, and how it works. Here are answers to the top five questions we hear from our small business clients about general liability coverage.

1. What does general liability insurance cover?

General liability insurance covers claims of bodily injury or other physical injury or property damage. In the event of a covered lawsuit, such policies will typically pay for a legal defense as well as compensatory, general and punitive damages.

A typical general liability insurance policy covers:

– Bodily injury and property damage liability: If a visitor is injured on your premises, or you or your employee injures some or damages property on your client’s premises.

– Personal and advertising injury: Certain offenses you or your employees commit in the course of your business, such as libel, slander, disparagement or advertising copyright infringement.

– Medical expenses: Applicable medical costs if someone is injured and needs medical treatment due to an accident on your premises.

– Premises and operations liability: Bodily injury and property damage sustained by others at your premises or as a result of your business operations.

– Tenant’s liability: Claims of damage due to fire or other covered losses caused by you to premises that you rent.

Please note that this list includes typical coverages afforded under some policies. Be sure to examine your own policy carefully for any exclusions, limitations, or any other terms or conditions that may affect your coverage. The terms and conditions of your policy will prevail.

2. Why do I need general liability insurance?

Even if you don’t expect to ever face a claim, General Liability Insurance is a smart, inexpensive investment in your company’s future. Accidents do happen, and people who are injured or whose property is damaged will expect compensation. Although such accidents may be no fault of your own, you’ll still be held financially responsible for them, and it only takes one such incident to break the bank for most small businesses.

In the event of certain types of lawsuits, even if you feel you’re not at fault, you’ll likely spend a hefty sum trying to prove it in court. For covered suits, general liability insurance pays for a legal defense and any settlement award, up to the limits specified by the policy.

Additionally, many client companies will have contract requirements that mandate that their business partners or vendors carry general liability coverage. Such contract requirements protect the client from incurring any costs in the unlikely event that someone or something should be injured or damaged in the course of your business relationship.

If you’re still not sure if you’re one who needs general liability insurance, there’s no cost to speak with an agent or broker for advice and a no-obligation quote.

3. How do I determine how much coverage I need for my business?

Your insurance agent or broker can help you assess the potential liability for your business, which varies depending on the type of industry your business engages in, as well as other factors.

Your location is one consideration, as courts in some states have historically made higher damage awards than those in other states. Businesses in those states may wish to consider carrying general liability insurance with higher coverage limits.

Lower-risk businesses, such as accounting firms or IT consultancies, may feel comfortable with lower coverage limits, while businesses in higher-risk fields, such as construction, may need more coverage. For small businesses with less risk, a combined general liability and property insurance package may be a cost-effective option. Such dual policies are known as a Business Owner’s Policy or BOP.

4. I’m worried that the coverage limits on my general liability policy aren’t high enough. What can I do to be sure I have enough coverage if I get sued?

If you’ve got a $1 million general liability policy, but you’re worried that you’ll be sued and your legal costs and court-ordered settlement could be even higher than $1 million, you may wish to purchase an excess liability insurance policy. What is this type of insurance? Also known as umbrella insurance, excess insurance is an inexpensive way to provide additional coverage when the limits of insurance on an underlying policy are exceeded.

For instance, if you have $1 million in general liability coverage, but a court orders you to pay $1.5 million in compensation, the right excess insurance policy would pay for the difference of $500,000. In addition to general liability policies, an umbrella insurance policy also adds coverage to your hired and non-owned auto liability and employer’s liability insurance policies, at no additional cost. However, umbrella coverage does not apply to professional liability insurance.

For contractors and consultants, some clients require excess liability insurance in their contracts to ensure that their vendors are financially capable of paying a large damage award in the event of a lawsuit. Client contracts may also require other types of insurance, such as professional liability or workers’ compensation.

5. How can I reduce my risk of having to file a general liability claim?

While it’s good to have general liability coverage, it’s even better when you don’t have to use it. There are several ways you can cut your risk exposure and reduce the chances that you’ll face a lawsuit:

– Provide proper training for all employees and subcontractors.

– Institute safety policies, processes and procedures appropriate for your line of work.

– Inspect your place of business for hazards that could result in injury.

– Maintain your office space, furnishings and equipment in top condition to reduce the risk of injury or property damage.

– Ensure that smoke detectors are operational and emergency exits are clearly marked and unobstructed.

– Restrict access to hazardous areas or equipment to authorized personnel only.

Ask your insurance agent or broker for additional tips on how you can reduce your risk.

Source by Jim Cochran

The main purpose of disability insurance is to to replace an individual’s income should they be unable to work as a result of either an accident or a sickness.In this article, we will discuss the disability insurance for but-sell policies.
Often, there are several owners for a business. In this situation the owners may enter into buy/sell agreements which will govern how the business is dealt with in the event one or more of the owners dies, becomes disabled or suffers a bankruptcy. Disability buy-sell insurance is designed to assist healthy owners to fund the purchase of a disabled owner’s share of the business. In fact, the likelihood of a long-term disability affecting the business increases as the number of owners in that business increases. Therefore, it is extremely important for business owners to consider disability buy-out insurance as part of their buy-sell program.
When reviewing the provisions of a disability buy-out policy, it is important to consider the following:
a) The Elimination Period or waiting period the person must be disabled before the benefit will be paid. Many insurers use longer Elimination Periods of 12, 18 or 24 months for this type of policy.

b) The definition of disability used in the policy and the definition of disability in the buy-sell agreement must match the definition in the disability policy so that the funds become available when needed to fund the buy-out.

c) The method of benefit payment.
There are several methods that can be used to pay the benefits, including lump sum, installments or combination of the two. The premium for a policy with a lump sum benefit will be higher than the premium for a policy where the benefit is payable in installments.
Insurers have a number of requirements for this type of coverage
a) The business owner must own a minimum percentage interest in the business and When the insured suffers a disability which triggers the buy-out and the benefits are paid under the policy, the coverage terminates.

b) The insured business owner must be employed by the business

A buy-sell agreement must be in place between the owners
a) It must provide for the purchase and sale of shares in the event one of the business owners becomes disabled
b)Specify the purchase price for the shares
Some policies also stipulate that the insured cannot be working in the business organization while the disability buy-out policy pays benefits. If the insured is still affiliated with the company in any capacity, the insurer assumes that they want to maintain their ownership interest and no residual or partial disability provision is included in these policies, due to the implication that the insured has returned to the business and does not want to be bought out.
Any subsequent recovery of the insured has no impact on the availability of the benefit, regardless of whether it is paid as a lump sum or on an installment basis.The maximum benefit provided under a disability buy-out policy is limited to the total value of the business
I hope this information will help. If you need more information of the above subject, please visit my home page at:
http://disabilityinsurance11.blogspot.com
http://lifeanddisabitityinsuranceunderwriter.blogspot.com/

All rights reserved. Any reproducing of this article must have all the links intact.

Source by Kyle J. Norton

The travel experience of overseas travelers will be more enjoyable if the visitors are covered with a proper visitor health insurance plan. Atlas America visitors insurance provides comprehensive medical coverage to secure overseas travelers from any financial crisis. Even for short travel plans to the US require proper attention.

Visitor medical insurance is now an integral part of ones travel plans given the expensive health care costs in America. Buy Atlas America insurance to cope with financial crisis in case of a medical emergency.

At affordable premium cost customers can benefit comprehensive medical coverage and emergency medical services. Non-US citizens who are traveling to America for short period can buy Atlas America Visitors insurance plan. This plan covers the insured from 5 months and up to 12 months. After the expiry of coverage period, the policy can be extended up to 36 months.

The Atlas America insurance covers primary services like emergency hospitalization and consultation of physician. Ambulance units, life support and intensive care units are called as peripheral services and are arranged by the insured under Atlas America Plan.

Atlas America plan also covers for medical expenses if the insured encounters terrorist activities, trip interruptions, natural calamities… Comprehensive reimbursement will be given in the Atlas America plan for certain eligible additional causes. Essential assistance for medical evacuation of the insured is covered in case of emergency.

The Atlas America is one of the few Visitors Insurance Policies that cover for pre-existing condition. Pre-existing conditions will be covered only if it is a life-threatening situation. Atlas America insurance plan also covers acute onset of pre-existing condition for those below the age of 70 up to $15,000. The mortal remains of the insured will be repatriated if there is demise during the policy period. With the support of Hygeia PPO network, Atlas America plan offers cashless billing of the medical expenses incurred during the policyholder’s stay in the hospital.

Once the deductible is met, coinsurance is waived if the traveler is treated within the network and 100% expenses will be covered by the plan. 24-hour telecom assistance, maternity care and sports rider packages are also provided for the insured.

Atlas America insurance plan can be purchased online to save time and energy. This plan is a trusted insurance coverage in the travel industry. The Atlas America insurance plan is underwritten by reputed corporation, Lloyds, London. International travelers can travel and stay peacefully in the US covered with Atlas America Visitors insurance.

Source by Anubhav

After seeing the historic flooding of Nashville, Tennessee, the question of “how much does flood insurance cost” is on many of our minds. After all, floods are devastating – and they’re not typically covered under typical homeowners insurance policies. National flood insurance is available through the National Flood Insurance Program.

As with most insurance, flood insurance rates vary based on amount of coverage and risk. For example, if you live in an area that’s prone to flooding, expect to pay more for flood insurance than someone who lives in a low risk area. Flood insurance is available for homeowners, condo owners, business owners, and renters.

According to FloodSmart.gov, the average flood insurance policy costs less than $570 per year. While that may be the average, that doesn’t mean you can expect to pay that amount. Again, it comes down to the flood risk and the amount of coverage you purchase. For example, if you live in a moderate-to-low risk area and you purchase $250,000 building and $100,000 contents coverage, you would qualify for a “preferred risk” policy with an annual premium of either $355 or $395 depending on if your home has a basement or enclosure.

On the other hand, if you live in a high risk area and purchase the same amount of coverage ($250,000 building and $100,000 contents), you can expect to pay an annual premium of $2633. The rates go up even higher for coastal areas (V zones). If you live in a V zone, you can expect to pay $5700 each year for the same amount of coverage.

To find out which flood zone you live in, go to FloodSmart.gov or FEMA.gov and look up the flood maps for your community. You’ll first enter your state and county and then you’ll enter your city. From there, you should be able to view detailed flood maps for your area.

Once you know your home’s general flood risk, you can look up rates on the FloodSmart.gov site. This will give you a general idea of what to expect. You can also enter your address at FloodSmart’s site. This will create a flood risk profile. You’ll see the property’s flood risk as well as a range of estimated costs for coverage. In addition, a list of nearby insurance agents is generated. Note that the rates will not vary by agent.

While the cost of flood insurance could be pricey, especially if you live in a high risk area, consider the cost of flooding and water damage. Just three inches of water can cause over $7800 in damage. Eighteen inches of water can cause over $26,000.

Like regular insurance policies, it’s important to understand what your flood insurance policy does and does not cover. For example, if you purchase flooding insurance covering the building only, then the contents of the home damaged by the flood will not be covered. In addition, if your basement has been improved with flooring and finished walls, these improvements are not covered.

Depending on where you live, flood insurance may be more affordable than you realize. If nothing else, checking your home’s flood risk will help you better understand the potential for flooding in your area and start you thinking about preparing for the next disaster.

By: Mr. Mark Decherd

For more information and other articles by Mark Decherd go to:

Dryout® Inc.
1415 Colonial Blvd.
Fort Myers, Fl. 33907
239-437-7100

Water Damage

Dryout Inc Emergency water damage restoration, drying, deodorization, decontamination, disinfection, mold removal, water damage repair, restoration and reconstruction of commercial and residential properties damaged by fire, water and other disasters by a network of trained specialists, technicians and restoration professionals across the USA and Canada.

Source by Mark Decherd

Basically, people get life insurance to protect against loss but the wrong kind of insurance can do more damage to your financial plan like any other financial product. It’s very important to understand the differences between the most common types of life insurance policies: term and whole.

The basic difference between the term and whole life is this – A term insurance provides the life coverage for specific period only and it is for periods of 1 to 30 years. On death of the life insured it pays sum assured to the beneficiary. On the other hand, whole life insurance is a type of permanent life insurance and specially designed to stay in effect for whole life. It combines with term and an investment component. The investment could be in bonds and money market instruments or stocks that builds a cash value.

Whole life insurance premiums are very expensive than term insurance, because you are not paying only for the insurance policy but also for the investment portion. The high cost might be worth if the policy is a good investment vehicle. The term insurance premiums rates are downright cheap for the people in good health condition up to age about 50 years. After that age, premium rates goes up. However, the premium of whole life insurance rates remains the same throughout the life of the insured. But, initial premiums are much higher for the whole life insurance policy compared to term.

After all the decision is yours, but you must go for life coverage while you are younger whether it is term or whole. If you can’t afford the whole life insurance then term insurance is the better option. Because, temporary term coverage is always better than no coverage at all. But remember, term insurance needs are only for a certain number of years, what you are insuring.

Source by Habibulla Antule

Let’s talk about the common grace period for payment of your life insurance premium. It’s an important safety net but you want to avoid anything that jeopardizes your policies’ protection so try to avoid using the grace period all together. Let’s look a little closer at the payment grace period.

The standard grace period for payment with most life insurance policies is 30 days. but you want to double-check with your life insurance agent or carrier as to the exact details of your policy. This means that if you payment is due March 1st, you have up to 30 days following this date to have the payment received by the carrier. This grace period typically does not vary depending on the period of payment (monthly, quarterly, annually, etc) or by the type of payment method (credit card, billing, auto-deduction).

This grace period can really help with auto-deduction or credit card payments where the old information (credit card # or expiration date for example) is no longer up to date or valid. This can especially occur when you pay for longer periods of time such as annually or bi-annually. People tend to forget about their life insurance payment if it’s processed once a year and they have the card stolen or misplaced in-between. In fact, this is a common cause of lapsing policies. We feel that the automatic renewal options involving credit cards and auto-deductions are the safest way to go. The carriers have found that a policy is less likely to lapse when set up with these payment methods. Bills get lost and it’s easier to procrastinate when paying with a physical bill. Combining the basic automatic nature of paying via credit card or auto-deduction and the grace period safety net in case the payment information has changed in the interim provides a solid protection against lapsing life insurance.

What happens if you miss your grace period for an existing insurance policy? At that point, the policy lapses coverage which means you no longer have the life protection of the policy. Your part of the life insurance contract is that you will continue to pay the premium as required to keep the policy in effect. If you miss payment past any grace period allowed by the carrier, the contract essentially cancels going forward. There may be options to re-instate a life insurance policy if back premiums are paid but you do not want to rely on this. Many life insurance policies cancel or lapse within the first 18 months.

Lapsing a life insurance policy is generally bad news. First of all, unless you’ve recently come into millions of dollars, the basic need for life insurance protection probably hasn’t changed much. If you missed the grace period, lapsed the policy, and decide to re-apply for new life insurance, the rates will likely be higher since you are now older. The biggest driver of life insurance rates is age so any increase in age means that you will generally pay more over the life of the policy. The grace period for life insurance payments is a protection against this risk but it’s best to rely on it only in a true emergency in case automatic renewal payments have an issue. If a payment does not go through on an automatic renewal, the carrier will generally notify you of the issue or general a paper bill.

Source by Dennis Jarvis

LIFE ANNUITIES (STRAIGHT LIFE ANNUITIES)

This is the most common type of annuity. The simple “Straight Life Annuity” provides for guaranteed periodic payments that terminate upon the death of the annuitant. Once the annuitant dies, the contract is fulfilled and no payments are made. This type of annuity does not guarantee that the annuitant will receive payments equal to the amount paid as premiums on the contract. If the annuitant lives a long time, they will recover more than all of the premiums they have paid; if they die soon after annuitization, the insurance company will only pay the benefits up until the time of death.

In the event the annuitant dies during the accumulation period (i.e. the time that payments are being made on the annuity, but prior to annuitization) proceeds will revert to the beneficiary, or if none is named, to the estate. Because this limits potential payouts, it will provide a higher return than other plans.

The Straight Life Annuity provides the maximum income per dollar of outlay.

LIFE INCOME WITH PERIOD CERTAIN

The Life Income with Period Certain guarantees that annuity payments to a beneficiary will be made for a specific number of years, even if the annuitant dies before the end of this period. Payments to the annuitant will continue as long as he or she lives.

LIFE INCOME WITH REFUND ANNUITY

The Life Income with Refund type of Annuity states that in event of the annuitant’s death, the company will pay an amount at least equal to the total dollars paid in as premiums. The company will continue to pay the guaranteed amount of monthly income for as long as the annuitant lives.

There are two types of this annuity:

Cash Refund: The Company agrees that if the annuitant dies, it will refund in cash the difference between the income that annuitant received and the amount that was paid in premiums plus interest earned.

Installment Refund: The Company agrees to continue to make payments to the beneficiary until the total of the payments made to the annuitant and to the beneficiary equals the amount the owner paid for the annuity plus the interest earned. The longer the payout is to continue after the annuitant’s death, the smaller will be the periodic payments.

? Annuities with refund options pay annuitants lower amounts of income than do comparable contracts without them. The refund option represents an extra benefit for the contract owner and an extra cost for the company.

TEMPORARY LIFE ANNUITY

The Temporary Life Annuity is a “combination” plan. Annuity payments will be made until either (a) the end of a pre-determined number of years, or (b) until the death of the annuitant, whichever comes first.

JOINT AND SURVIVOR ANNUITIES

Under this arrangement, two people are insured, usually husband and wife. Beginning on the date set in the contract, payments are paid to the annuitants. Payments are guaranteed to continue to the surviving spouse upon the other spouse’s death. Depending on the terms, the continuing payments will either be in the same amount as when both annuitants were alive, or be reduced. Obviously, the premiums are higher than those for life income annuities are since the likelihood of a long annuity payment period is greater when more than one life is covered.

http://www.myceisonline.com

Source by edward hulse

Insurance for interior designers, if it’s to give you the real peace of mind you want, has to cover a range of different risks. Just think about it.

From choosing colour schemes, fabrics and furniture, to recommending structural alterations, to selecting and supervising contractors, there’s more than one job that most interior designers actually do. However, in every aspect of your role, you’re offering a professional service. And that makes you potentially liable if the client doesn’t think you’ve been as professional as you should have been.

Just suppose you interpret a client’s brief wrongly and a room you’ve refashioned fails to meet the requirements. Or a supplier you’ve engaged, or even just recommended, fails to deliver what was promised. You could find yourself the target of a legal action.

Even if it’s not your fault, you could still be faced with significant lawyers’ bills just to prove the point. And if the case goes against you, you could find yourself having to fund expensive remedial work or a substantial compensation claim.

That’s why your interior designers insurance should definitely include professional indemnity cover.

Working at a client’s premises, you also face a constant risk of causing accidental damage. If you have the misfortune to break something that is particularly valuable, you’ll be very relieved if you’ve also included public liability cover in your interior design insurance package. Because if you haven’t, you’ll be footing the bill.

There are other types of cover you might want to consider too. If you have any staff, you’ll definitely need employers’ liability insurance. It’s a legal requirement. But you should also ask yourself what you would do if expensive furnishings or fittings you were holding on behalf of a client were to get stolen. Or if you found yourself unable to work as a result of illness or injury.

With the right interior designer insurance, you can cover yourself against all of these eventualities and more. And all you have to do to find that insurance is call 01480 470220 or email info@coulsonpritchard.com .

Source by samanthaharley

Thinking all flood insurance is too expensive
Some flood insurance policies can cost less than $400 a year, less than car insurance. You can choose how much coverage you need, depending on how much of your home and items you want to protect. Also be sure to research any discounts you could get from having things like  a sump pump installed, or double-paned windows. These could lower your policy by large amounts!

Assuming you only need flood insurance if you live in a disaster-prone area
Floods don’t only happen after a hurricane though. In fact, 1 in 4 flood insurance claims take place in low or moderate risk areas.  Floods could happen in your home due to frozen pipes that burst, or a large water leak. Floods can also happen due to lake, creek or river overflow, or large amounts of rain and backed-up storm drains.

Not looking around enough
The flood insurance policy you choose should be the best possible policy for your situation. To achieve this, you should get as many possible quotes as you can and know as much as possible with each potential decision. Even better, take the time to ask friends and family in your area if they have flood insurance and what company they chose.

Assuming you will receive federal aid if a flood occurs
Federal aid is tricky and not so reliable. While their aid rarely comes anywhere close to full coverage, you may or may not even qualify for a small loan. On top of that, it’s very unlikely that you’ll receive any aid without the president himself declaring your area a disaster area. A perfect example of this is, of course, hurricane Katrina, and the many victims left without aid or a home in the after months.

Forgetting to ask important questions
Before you go signing any papers, you need to make a thorough (and long) list of any and all questions or concerns you have to ask each provider you’re considering. This list should include their policy on rate increases, their discount policy, and their types of coverage, among many others. Take the time to research questions and concerns about flood insurance online to be sure you’re asking everything you need to.

Waiting until it is too late
The worst possible flood insurance mistake you could make? Waiting until it is too late. While some insurance companies will still sell you a policy when your area is likely to be hit by a flood very soon or has already been hit, it would be a t a much higher rate. If you are definitely getting flood insurance, the sooner the better.

Assuming you are already covered if you have home owners insurance
While some companies offer a combined home and flood insurance policy, not all do. Also, those added *extras* are rarely any where near as much coverage as you would get from a separate flood insurance policy. If you do think you have flood insurance or are not sure, give your insurance company a call and simply ask. They should be able to provide you with all the details.

Believing you will not qualify if a home insurance company turned you down
Just because a different type of insurance turned you down for financial reasons or otherwise, does not mean all flood insurance providers will as well. If your community is in the national flood insurance program, there’s no way you will be turned down. You will never though until you ask though, so call them up now!

Source by water damage team

An unfortunate fact regarding Medicare that many individuals realize the hard way is that it will cover, in a best case scenario, about 80% of medical expenses. The remaining 20% is the responsibility of the individual covered and many simply are unable to afford this. Since Medicare is provided primarily to individuals over 65 or who are disabled, the income of these individuals is quite often insufficient to cover the remaining medical bills left behind after Medicare coverage has paid its share. Purchasing Medicare supplement insurance Texas is one way that many people have found to handle the gaps in coverage left by Medicare.

Medicare does not provide coverage for dental, vision or hearing care and also falls short when it comes to providing coverage for routine checkups as well as many prescription medications. While Medicare does provide an important safety net for individuals on a fixed income, its gaps in coverage can quickly become a financial disaster for individuals without Medicare supplement insurance. It is also necessary to keep in mind that not all doctors participate in the Medicare plan so there may be instances where Medicare coverage provides no benefits whatsoever. In just about any situation, supplemental insurance will prove to be beneficial.

When considering purchasing Medicare supplement insurance in Texas, it is important to keep in mind that the difference in costs from a variety of providers can vary drastically. While the coverage is essentially the same, the price an individual pays is most definitely not. Getting a quote for supplement insurance is absolutely vital before purchasing a plan. Plans generally covered just an individual so if there is more than one person in the household insured by Medicare, they will each have to purchase their own supplemental insurance plan. A great number of people make the mistake of believing that Medicare is all the insurance that they will need only to find out too late that the gaps in its coverage have proven to be financially devastating.

When it comes to health insurance, especially for individuals in their golden years, the cost of supplemental insurance covers more than just the gaps left behind by Medicare. It also provides peace of mind. The knowledge that an unforeseen event or health problem will not cause financial ruin is something that is all but impossible to put a price on. Of course, price should be a concern considering the significant differences charged by different providers. In the end, it is almost always better to have more insurance rather than the find yourself underinsured.

Source by Charles Peeler

If you have a test taken, to see if you have genes that show you may be at risk of developing a life threatening disease, the British government allows your insurance company to look at the results. Governments in the rest of Europe ceased this as they feared the results could be used by insurers to perhaps increase premiums or even refuse cover altogether.

Unless the insurers develop a voluntary code preventing the use of test results, MPs this week have called on the government to enforce a two year suspension on using them.

Should the test results be private?

The government is concerned that the insurance industry could collapse if genetic test results were kept private.

Why would it collapse?

A major problem in the insurance industry is what the textbooks call “adverse selection”. The likelihood of somebody buying life insurance, if they know they are going to die earlier than expected, is high. They want to know that their families will get some financial help when this happens. If a large amount of high risk people buy insurance they may not live long enough to cover the payout with their premiums.

Therefore, to make up for losses insurers will have to raise premiums thus having a negative effect on how insurance looks to a person with a normal life expectancy. Soon only high risk people will buy insurance and the good risks driven out of the market altogether. Eventually the market would crumple as it is only lucrative when the high and low risks are shared.

Is this happening?

At the moment, as genetic testing is in its early stages, adverse selection is mainly a speculative issue. The government only considers one test to be precise enough for insurers to use. In the last three years one insurance company has sold 460,000 policies but say genetic tests would only be applicable to 14.With developments in testing being so rapid and the industry wanting to use more tests, the problem will soon become real.

What can be done to solve it?

To stop the market from collapsing the government seems to have decided to allow the industry to view results. This however could create a genetic “underclass” of people who are not capable of getting insurance. People who get clean test results could be offered better rates than those at risk thereby making it unaffordable for them. Shockingly, tests that one day could perhaps save lifes could be discouraged as it may make insurance unobtainable.

What could be done to stop genetic tests being used to discriminate against people?

To solve the problem totally the life insurance industry would have to be made public. This would prevent good risks opting for cheaper deals and high risks bankrupting insurers. These days that is not a popular solution to market failure. The alternative would be for the government to insure the high risks, which would be costly.

What else could be done?

Before people took tests they could be required to take out insurance. Doing this would not stop people doing tests nor allow insurers to take advantage of test results thus damaging the market.

Whatever happens the government is going to have to play a bigger part in the life insurance market.

Source by Michael Challiner

James Bond is a few of the men to walk away from a motorcycle accident without so much as a scratch. Studies conducted by the National Safety Council in the U.S estimates that a motorcycle accident seriously injuring at least one person occurs once every fourteen seconds. Another study by the National Insurance Crime Bureau Statistics reveals that there is an alarming rise in the theft of motor vehicles especially motorcycles. What is more alarming is that only 20-25% of the stolen bikes are ever recovered.

Motorcycles are small and relatively light, some are compact making it easy for the crime of theft to occur. A fire, explosion or flood is all it takes to destroy your dream machine. So, in a nutshell you would be a fool to even think about skipping motorcycle insurance. Many states in the U.S even make it mandatory.

Motorcycle insurance will cover liabilities for:

• Injuries to yourself and/or any co-passenger
• Damage to other people or, of their property
• Damages arising from fire, theft, falling objects, hail or even contact with animals.
• Accidental damage to your motorcycle
• Loss or damage of any personal items or safety apparel, so your investment in leather, helmet and gloves may be safe.

In addition to these, ‘comprehensive’ motorcycle insurance will also cover medical expenses, which include your transport to a hospital and may include any physical rehabilitation after the injury. You can also opt for optional insurance for towing and roadside assistance coverage that may come handy when you are away from home.
In spite of all these advantages, bikers usually grumble and gripe about the soaring costs of motorcycle insurance. One of the main reasons for this unprecedented rise in motorcycle insurance premiums is the kind of bikes that are available today. The new high-tech, swanky bikes cost almost as much or even more than a second-hand car.

Another crucial factor that decides how much you have to pay is the size and power of the bike. Once you hit the 1,000cc mark, motorcycle insurance costs will increase. Cruiser style bikes are less expensive to insure than the flashy, high performance sports variety. Every year, we see new accessories and gadgets being added to bikes. Add to these certain other factors, like the climbing cost of litigation, falling stock markets, higher numbers of claims, etc. and you can see that motorcycle insurance will continue its steady climb upwards. Motorcycle insurance is not only smart, it is absolutely necessary and how much you spend on your motorcycle investment is entirely up to you. Count the cost, the risks and the worth to you personally. Then decide what company you will insure with.

Another tricky thing about motorcycle insurance is that it usually applies ONLY to your own bike. This means that if you are riding somebody else’s bike, you are not covered by your own insurance. Every state may have its own rules regarding this. Many youngsters also automatically assume that if they are riding the family bike, they will be automatically covered by the motorcycle insurance. This also needs to be checked out before you can be sure.

So, how much motorcycle coverage do you need? Well, how much can you afford? Since the motorcycle is the most vulnerable speed machine on the road, it is that much more dangerous. So, you need all the cover that you can get.

There is no reason to get robbed or ripped off, your bike or through motorcycle insurance. Examine your options, know what your purchasing and know clearly how much you personally will need to spend on your motorcycle insurance.

Summary:

How much motorcycle coverage do you need? Well, how much can you afford? Since the motorcycle is the most unprotected speed machine on the road, it is that much more dangerous. So, you need all the cover that you can get.

Source by Brooke Hayles