Saturday, 15 June 2013

Finding the Right Malpractice Insurance Brokers


Finding the right broker that deals with medical malpractice insurance is going to be really hard because there are so many to choose from and you wouldn't know where to begin. On the other hand, you need to make sure that you pick someone quickly as the need of malpractice insurance is paramount.
It's all business!
One of the sad facts of life is that not many people are actually interested in what they do and the main reason that they do it is to make money. Therefore, finding a broker that makes sure that your interests are ahead of theirs is comparable to searching for a needle in a hay stack.
It's difficult but not impossible
Of course, finding the right insurance broker is going to be difficult, but it isn't an impossible task to achieve. There are several things that you could do in order to make sure that you receive the best. Some of them include:
1. Consulting a colleague - it's possible that some of your colleagues have already got malpractice insurance and it may be working out for them. So, speak to them and find out more about it. What works for them may not necessarily work out for you, but it's surely worth a try.
2. Respond to ads - Most medical malpractice insurance companies advertise in medical journals. If you find an ad promising contact them and ask for a representative to meet you in person.
3. Use a service - there are plenty of services that would be able to help you get in touch with the right brokers. There's no harm in giving it a try.
Making the final choice
Once you've contacted a few brokers the next thing that you would need to do is pick someone and use their medical malpractice insurance to cover you. This is going to be a decision that you would have to put a lot of thought into.
Are they trustworthy?
Do they really offer what they say they offer or are they just a scam? In order to find out you would need to check out their past reputation. There's no way to make sure unless you check out some reviews and testimonials that they've received.
Do they have what you need?
Every medical personnel is going to need a different insurance policy based on their needs, so make sure that they have something that would work perfectly for you!
If you're in search of malpractice insurance for doctors take a look at the various medical malpractice insurance companies

Friday, 14 June 2013

How To Prevent Vandalism To Your Property


According to statistics, there are over a million property crimes that happen each year in Canada. The good news is that there are things that property owners can do to minimize the risk of becoming a crime victim.
One of the best ways to prevent vandalism and other crimes is to simply keep your property in good repair. This is because statistics show that properties in good repair are less likely to be vandalized.
Here are some other tips to help keep your property safe from vandalism and other forms of crime:
  1. Outside lighting is very important. Pay attention to areas like the doorway, the windows and other entryways.
  2. Installing good quality doors is also very important. Experts suggest installing doors so that they open outwards. This makes it more difficult for burglars to pry them open or kick the door in. For the highest level of safety, consider installing doors without glass or windows. If you want a door with glass windows, make sure that the glass is wired or that it has protective film over the glass.
  3. Keep trees, shrubs, and other vegetation trimmed regularly. This will make it more difficult for burglars to hide or conceal their entry. It will also make it easier for neighbors or others to spot strangers on the property.
According to criminals, thieves decide to target a property for several reasons. Here are a few of them:
  1. The home is not occupied or the homeowners are frequently away. Signs of this are mail and newspapers piling up and lights that are either on all the time or off all the time.
  2. Burglars also scout for homes where they can enter without being seen. Tall hedges or other such shrubbery can actually increase your chances of becoming a crime victim.
  3. Use a bar to keep sliding glass doors securely shut and lock doors when you are not home.
  4. Burglars think twice before breaking into a home with alarm company signs. For this reason, getting an alarm system service, or purchasing signs may be very beneficial.
  5. Dogs can also discourage burglars from trying to break into your home. According to statistics, this is true whether the dog is a large breed, or just a small breed dog. The reality is that if you have a dog, you may find that your house is safer. Some people put up "beware of dog" signs even if they do not have a dog. This also may help.
  6. Be careful about what you throw away. If you purchase a new appliance, take care when discarding the box. If burglars can see the box for your new large screen television in the trash, they may consider breaking into your home.
  7. Install security cameras outside your home in visible places. Even if your security cameras are not working, they still may work to prevent criminals from destroying your property or breaking into your home.
As you can see, it doesn't take a lot of work to make your home safe, it just takes some planning and preparation.
There are many precautions that can be taken to help ward off burglars. Truth is, there's only so much you can do to prevent these intrusions. Make sure that you are fully covered in the event that you are robbed. Check out Steele and Ferraro Insurance Brokers, Waterloo insurance brokers. They won't sell you insurance. They help you find the exact covereage you need, at the best price available in the market.www.SteeleAndFerraro.com.

Thursday, 13 June 2013

Purchase Primerica Term Life Insurance and Invest the Difference


Established in 1977, Primerica's (also known as Prime America Insurance) basic objective was to transform the life insurance industry. The company originated the philosophy of "buy the term and invest the difference". In 2010 it traded on New York Stock exchange and became a newly independent company. The primary goal of the company is to change the financial services landscape for Main street North America.
The company encourages people to purchase term life insurance at affordable prices which provides sufficient protection at a price they can afford. It serves the company the best possible way, making appropriate adjustments according to the needs of the customer.
There are many benefits to choosing this path for investing your money. The majority of the companies want to sell whole life or permanent life insurance, just because it fetches hefty commissions for them, plus the insured person is bonded for life. He or she has to pay coverage as long as they live. Insurance agents will push you to purchase this type of plan for the same reason.
Invest the Difference
Term life insurance provides coverage for a specified period of time. Purchase this plan only for the time period whilst you have financial obligations. By the time you pay off your debts, your children start earning and you accumulate enough savings, thus you probably don't need insurance. A term plan will pay out in case you die prematurely.
By investing the difference in other options, you get higher interest rates. Your money grows faster than it would if it is put in insurance. Moreover, you can take out money as and when you need it. In most cases insurance companies will encourage you from surrendering your policy, in case you need cash. Instead they will suggest you to take loan against your policy.
This may look good in the beginning but give it a thought for a minute. The company is providing you a loan on the money you have invested. And above all, they will charge interest for taking that loan. You are basically asked to take a loan on your own money, and you will also pay for it.
Clear Cut Objectives
Prime America insurance have a clear cut objective. This company only sells term plans, as they know that whole plans are not good in most circumstances. They think as a purchaser and then design their products. They help you in finding good investment options, where you can get better interest than the one provided by whole life plans.
By purchasing a Primerica term life insurance plan and investing the difference, you are making more out of your money. Your money grows exponentially this way. You also have coverage, which takes care of any unexpected occurrences. You are not purchasing insurance to serve the company; you are purchasing insurance to serve your family.
The irony of purchasing insurance is that the insured person never gets to enjoy their money. The insurance money is enjoyed by their beneficiaries after they die. By purchasing term life and investing the difference, you can at least enjoy the money earned through investments. You can realize this money when you are already alive, you don't have to die to get it.
Think about where your investments are best placed. In a life insurance policy or elsewhere. Primerica's term life insurance plans give you the option to do just that. These and many other attractive term life products are available from beyondquotes.com and other reputable insurance providers.

Wednesday, 12 June 2013

Reinsurance Buying - How to Protect Insurance Company Assets Without Spending a Fortune


Reinsurance buying is a complex process that can put your assets in jeopardy if your reinsurers don't pay, or if you don't buy sufficient limits. The cost of reinsurance is a major expense for insurance companies. Spend too much and your profits suffer; buy too little, and your company's surplus may be dangerously exposed. These three strategies will get you the best terms and conditions from your reinsurers.
Strategy 1 - Optimize your risk selection
Writing policies with a high probability of loss will increase both the volatility of your book of business and the cost of your reinsurance. Your reinsurers will price this higher volatility into their quotes. If you write property or homeowners insurance make sure you check the AAL for catastrophe potential, and other factors such as location, fire protection class and upkeep of the property. Commercial casualty and workers compensation underwriters should balance their books of business by considering the class code of the business you are insuring.
Strategy 2 - Keep your rate filings up to date
Just as you encourage your policyholders to buy adequate insurance limits to reflect the current cost of replacing their assets, insurance company management needs to keep rate filings up to date. Writing business at inadequate rates results in under-performance of company assets. Buying reinsurance under these circumstances increases the cost of reinsurance relative to your exposure premium. Applying the right rates will not only reduce the percentage of your premium you pay for reinsurance, but provides more premium to cover acquisition costs and corate exposure data
Having accurate exposure data for actuarial and catastrophe modeling is essential to ensure you are buying adequate reinsurance. For catastrophe modeling, you should have geo-coded location information for each policy as well as detailed construction information. Otherwise, the catastrophe models might underestimate your catastrophe PML, resulting in the purchase of inadequate catastrophe limits. Casualty and workers compensation exposure in the form of audited payroll and/or sales figures are essential. A complete limits profile is essential for per-risk contracts, whether for property or casualty business.
These three strategies may take some time to implement, but will pay off for you in the long run by getting you the right amount of reinsurance at the right price. Most of these changes can be implemented with in-house staff. You may need a consulting actuary to ensure your rate filings get approved.
Bonus Tip: What To Do Next To Buy Reinsurance The Right Way
To buy reinsurance the right way, you need the right expertise and the ability to perform the proper analysis.
Get started now buying reinsurance that will give you peace of mind by going to http://usre.com
Brought to you by Paul Dzielinski, the expert in reinsurance.

Tuesday, 11 June 2013


Spending for a life insurance is a very wise choice for lots of people to make. The issues that may emerge in the future, specifically with expenses, as an outcome of occasions such as health issues, deaths, and others will be lowered if a person has coverage. A policy can cover home mortgage costs, settle debts, and more. Yes, you should pay to get coverage and with practically everything that we get, we wish to pay much less and we prefer a policy that is cheap. Luckily, a lot of providers offer budget friendly rates for the plan they provide. However, numerous variables influence the affordability of such plan.
It is a common understanding for that individuals who have bad health and wellness practices such as cigarette smoking have lives that are high risk. Smoking does not only damage the lungs, but the heart as well. Not only that, cigarette smoking can become addictive and the smoker can have the propensity to buy and smoke even more cigarettes.
Smokers can get sick regularly and have a shorter life. In the viewpoint of providers, they are a lot more likely to end up paying these people. Coverage thus becomes pricier for a smoker. If you are a smoker who wants to get a plan, it is best to quit smoking first. There are various methods you can apply to help you stop. Bear in mind that quitting has to do with your health. It will not just boost your wellness and make you save money, it would likewise help you get cheaper plans.
In consonance, overweight individuals can also have a difficult time getting cost-effective rates. A person who is overweight is unhealthy. The life of a person is impacted drastically if they is overweight. Overweight individuals have a higher risk of having major health complications. They have a higher tendency of contracting hypertension, cardiovascular diseases as well as diabetes.
Providers see overweight people as high-risk. Companies prefer any type of threat to be lessened. If you are an overweight or obese individual who is preparing to be insured, it is best to slim down first. There are numerous ways to shed some weight. This has to do with your wellness so it would pay off to be serious! Burning fat to shed some weight will certainly not just boost your wellness and reduce your health risk, it would likewise help you avail of cheaper insurance rates.
Zero in on cheap insurance rates. Contact Connie Rutz Insurance and get help in obtaining Kennewick insurance.

Monday, 10 June 2013

Do You Need to Insure Or At Least Manage Any Or All Of These Four Often-Neglected Risks?


Many people actively manage only those risks which they insure, and many people only insure those things which "everyone" insures. This usually means Motor, Property (mainly Fire and Theft) and Public and Employers' Liability (mainly thinking of Health & Safety issues). Sometimes these are sufficient, but there are four other types of risk, which are all too often ignored, which could have serious consequences for a lot of businesses.
1. Employment Risk. This means anything undesirable which might happen as a result of employing people, apart from physical accidents or disease. This could mean claims or conflicts over dismissal, competency, discipline, discrimination or harassment.
2. Reputational Risk. This includes not only libel and slander, but the damage to your reputation caused by ill-considered remarks (whether by yourself or by your employees) which offend the public, especially potential clients or customers. Sometimes the damage done to your reputation by a simple mistake can become far greater than it might have been, if your response to any complaints or enquiries is..unhelpful. Footballers and politicians are not the only people who can score own-goals.
3. Cyber Risk. This is anything resulting from the use of computers or related technology. It overlaps with the previous two categories as a great deal of damage to your reputation can result from uncontrolled use of the internet or social media by your employees, or even by yourself, since words written during a minor lapse in thinking can nowadays be made known to such a wide readership and cannot be denied. Cyber Risk also includes loss of data, data getting into the wrong hands, and the loss of computer services or facilities.
4. Environmental Risk. This is not only an issue affecting the well-known potential polluters of the chemical and oil industries. There can be serious costs arising from such things as cutting down trees subject to preservation orders, disturbing habitats of rare species, or damaging architectural sites. The cost can be in delays to projects or damage to reputation as well as damages or fines imposed by the Courts.
What can you do about all these risks?
1) Firstly, make sure you think about each of these when planning projects or reviewing activities. Try to identify where you are weakest.
2) Think about the likelihood of any undesirable event and also about the potential severity in terms of the impact on your business. Could any of these put you out of business, at least temporarily?
3) Consider options for controlling the risks. Establishing procedures, staff instructions, and training will probably be a part of any solution.
4) Where the risks seem particularly serious and the solutions you have identified seem inadequate, it may be worth seeking expert advice.
5) Look at possible additional insurances (they do exist for three of the risks I have described, but generally not for the loss of your reputation) as part of your response. Do this preferably after you have gone through the previous four steps, as then you will have a better idea of whether or not you need it, and also because, having already taken measures to control the risk, you should be better able to get lower premiums. Do not think of insurance as the complete answer, as an alternative to taking reasonable steps to control the risks.
Do not limit your thinking to the most well-known risks: think about these four as well and decide how relevant they are to your business. Take the initiative and manage them: do not be at the mercy of chance.
John Harvey Murray has worked in audit, accountancy and insurance in various local authorities. Now as the owner/manager of JHM Claims, he provides claims-handling and risk management services to help businesses and other organisations in Warrington, Merseyside and the North West, control unnecessary and unplanned costs including those arising from unjustified claims. Clients save time, money and stress.
John is a member of CIPFA, is a Registered Risk Practitioner with ALARM, and is a Specialist Member of the Institute of Risk Management.
e-mail: jhmclaims@gmail.com
web: http://www.jhmclaims.co.uk
tel. 01925 445215

Sunday, 9 June 2013


The business of importing and exporting cargo from one part of the world to the other can be fraught with numerous risks. However, this has not deterred people from doing it. This can be attributed to the availability of insurance coverage to protect against such losses.
Cargo marine insurance, for insurance, has been around for quite some time, but not everyone has had the good mind to make use of it. This is despite its many benefits. As a businessperson, you should identify services that can help you save costs and make more profits. Insurance exists to enable you invest in ventures that carry various risks but which are lucrative in the end.
Cargo marine insurance is a coverage that was initially meant to cover people who importing and exporting goods across waterways, such as seas, oceans and canals. This coverage can protect you against loss or damage of cargo, ships or terminals. If you are not covered for these, you can incur incredibly irrecoverable losses. Many businesses have gone under for lack of a comprehensive cargo marine insurance cover. You don't have to experience such predicament to know the importance of insurance.
You can find a cargo program that allows you to import, forward, and export your cargo anytime and anywhere in the world with no fear of the risks. Some insurance do not restrict coverage for maritime shipments only. They can also provide coverage for air shipments as well. If you want to insure your cargo safely, you must ensure that your approach a registered insurance company whose activities are certified by the government. The company should provide you with a quote of the rates that you will be required to pay. If the rates are acceptable to you, the company will make an agreement with you.
Some companies provide great rates, a quick turnaround and amazing coverage. You can receive timely and helpful attention whenever you want to preempt professional liability. Some of the businesses that have benefited from such kind of insurance include those that involve shipping vehicles abroad or exporting and importing different types of merchandise.
Acquiring cargo marine insurance is not as hard as it used to be in the recent past. Now, you can receive estimates of annual premiums within a few hours. Your cargo will determine the market through which your coverage will be placed. Regardless, you will get awesome claims service and high level of professionalism.
You can visit us to hire the best Cargo Marine Insurance Company. We will provide you with the best advice in General and Commercial Liability Insurance related issues.

Saturday, 8 June 2013

Small Firms Love the Low (or No) Cost of Digital Marketing


For years now, insurance agencies that are committed to remaining viable and in step with new methods have been taking to the information superhighway to attract prospects and engage existing clients. Employing the Internet has enabled small firms to produce campaigns with major impact yet on a minor budget, offering cost savings that traditional advertising outlets simply cannot compete with. Because a lot of Internet advertising doesn't have any costs associated other than the time it takes to post the content, enabling firms with limited budgets to nonetheless produce an effective digital market insurance campaign.
Companies typically rely on a combination of tactics to spread their message to the masses, including social media, search engine optimization, online directories that are placed free of charge, and banner swapping. Search engine optimization is a method of enhancing the company's web presence in ways that will make it achieve a higher ranking on the most commonly used search engines when consumers search for results based on related keywords they enter. There are ever-evolving methods to capture better SEO rankings, so it may be wise to refer to a specialist for this task.
Free online business directories offer a listing of companies that are located within a given area and/or within a type of industry. These directories generally list companies free of charge because the more content they have, the more they can charge for advertising that appears alongside the directory content.
Social media has quickly become a standard, key item in every company's advertising toolbox. From tweets about breaking news to in-depth stories, messages, photos, and profiles on the company's Facebook page, social media can be used to encourage consumers to follow the company for information on promotional events or other public relations programs. The two-way nature of social media allows for firms to hear directly from their audience and know what they're thinking and how well a program has been received.
Banner swapping is an electronic update of the traditional cross-marketing tactic. Company A approaches another firm in the area--Company B-and offers to place that firm's banner on its website if Company B will do the same with Company A's banner. This strategy works best when the company teams with another firm that has wide appeal to the demographic and target audience that is being sought after.
Bottom line: small companies, take heart! Establishing a digital marketing insurance campaign can be accomplished, even when the company is operating on a shoestring advertising budget.
Jeff Neilson is the CEO and Founder of Agency Tsunami which is a digital Insurance Marketing solution for Search Engine Optimization and Social Media Marketing.


Article Source: http://EzineArticles.com/7497918

Environmentally Friendly Deicing Products


During the winter months commercial property owners are all too familiar with how ice on sidewalks, driveways and parking lots can be hazardous. This is especially important for owners of commercial properties because icy walkways and parking lots can result in lawsuits from customers and employees alike, so preventing ice and snow from building up is both a legal as well and as an economic imperative.
Being Environmentally Conscious
Preventing and removing the buildup of snow and ice in environmentally responsible ways is important because chemical products used to melt snow and ice inevitably return to the soil and groundwater. Some companies exploit the green angle by selling environmentally friendly deicing products which may or may not be friendly to the environment. We wish to set the record straight as to what deicing products are really environmentally friendly, which ones aren't and which ones should be avoided because they don't work.
How Chemical Deicers Work
Chemical deicers work by forming a liquid brine which melts snow and ice and makes it much easier to remove by shoveling or plowing. This brine breaks the bond between ice and cold surfaces by seeping downward into the pavement and spreading outward. If used prior to icing conditions, these deicers will also prevent ice from forming on surfaces.
Environmentally Damaging Deicers
Most deicing agents are essentially treated salt in different forms. So, what's so harmful about salt you may ask? Well, once this treated salt enters groundwater or ponds, streams, lakes and aquifers, its chemical composition changes and can poison fish and kill sensitive vegetation. It can also be extremely dangerous to pets as it sticks to their paws when they walk on it and they lick it off.
Nevertheless, salt-based deicing agents are the most common used by landlords in both commercial and residential buildings and include;
Calcium Chloride (a.k.a. CaCl2): Probably the most widespread deicing agent used in colder climates, it works in temperatures as low as -25°F. Calcium chloride dissolves faster and starts the melting process quicker than other salt-based deicers because it has a greater capacity to both attract and retain moisture and actually gives off heat as it melts. Is also the most versatile as it is available in liquid, flake or pellet form.
Sodium Chloride (a.k.a. NaCl, a.k.a. rock salt): This deicing agent has been used since the 1940's. Unlike calcium chloride, sodium chloride draws heat from the environment rather than giving it off and thus loses most of its anti-ice effectiveness when temperatures are below 25°F. This is why it is used most often on bridges because heat generated by the friction of moving vehicles actually assists in rock salt's deicing properties.
Potassium Chloride (a.k.a. KCl): Use of this as a deicing agent is quite limited because although it is a naturally-occurring material (and thus theoretically less harmful to the environment), there is a much greater likelihood of it damaging foliage and inhibiting root growth in plants with which it comes in contact. Not effective for temperatures 25°F or below, this substance is used most often as a fertilizer (muriate of potash) and as a salt substitute in food due to its high salt index.
Environmentally Friendly Deicers
It is important to note that the only 100% effective deicing agent that doesn't harm the environment is a shovel. Period. With that said, some deicers are available that are far less damaging than rock salt. They include --
Calcium Magnesium Acetate (a.k.a. CMA): This relatively new melting agent is an organic compound and combines acetic acid with dolomitic limestone. It is most effective in environments that are extremely sensitive as it causes very little damage to both concrete and vegetation. However, it doesn't work well in extremely cold climates as its effectiveness is limited to 22°F.
Urea (a.k.a. Carbamide): Found naturally in the urine of mammals, it can also be synthesized by combining ammonia and carbon dioxide. Although Carbamide is used primarily as a fertilizer, it can be used as a deicing agent as it is both non-corrosive and has a lower burn potential than potassium chloride.
Sand: It's tempting to think of sand as an environmentally friendly deicing product, but it is not. Sand does not melt ice so it cannot be accurately called a deicing agent. It is, however, used in conjunction with deicers to provide traction on ice or snow. No matter what it's used for, sand's negative effects on the environment including clouding up lakes and rivers by preventing sunlight from reaching aquatic plants and destroying the lifecycle in these waterways.
Alfalfa and Beet Juice: Some environmentalists tout this as environmentally friendly, but there is no solid evidence that these organic alternatives to traditional deicers work effectively. The State of Illinois has used them on public property in the past, but that is hardly enough proof to support using them to remove snow and ice on commercial properties.
Cat Litter: Like sand, kitty litter isn't actually used as a deicer but rather as a substance to help improve traction in icy areas or walkways. However, be sure to use cat litter that is biodegradable or it could still be around when the ice and snow melts.
One Final Word About Deicing
Commercial property owners you can face severe litigation settlements if they fail to properly clear the sidewalks, driveways and parking areas on their property so the temptation always exists to forgo environmentally friendly deicing products in favor of ones that are not only effective but inexpensive as well. Therefore, it's always a good idea to review with an attorney and/or insurance agent any special laws or regulations in your town concerning snow removal and/or deicing procedures on commercial properties. After all, to be forewarned is to be forearmed.
Murray Glick writes, edits and maintains a blog for Enviro Equipment, Inc., an environmental remediation supply company out of Pineville, North Carolina.


Article Source: http://EzineArticles.com/7490171

Concept of Commercial Marine Insurance


In the vast field of insurance, commercial marine policy has become very important insurance. If you own a sailing school, a chandlery, a boat yard or any type of marine business, then all you need is marine insurance policy. There are many insurance companies available to provide you comprehensive marine & commercial cover. It covers marine risks, like legal responsibility, marine comparable enterprises and marine hulls and so on. The whole process of buying this insurance is very simple and quick. It is like a all-time insurance coverage present for your non-public / business marine property.
When a person wants to import any good from another country located on the opposite side of ocean for business purpose. During this transportation, businessman may face dacoits or luggage may get damaged due to sinking of ship into the sea water. Hence, he may experience economic loss. But, if he covers his property with commercial marine insurance, then he does not have to experience any kind of financial burden as it offers compensation to the policyholder against the damage of property.
This insurance is not only beneficial for businessmen but also for ship owner. Costlier ships may be damaged because of various types of risks on the marine venture. This policy serves compensation of loss to the ship owner. Therefore, it is necessary for them.
Commercial marine insurance is also available for freight, freight refers to the revenue which a cargo ship gains or the amount which is earned by the ship owner for goods' transportation from one destination to another. In case businessman refuse to pay freight of his goods to the owner of the ship, then ship owner may face financial loss.
Marine insurance keeps your goods far away from risks and all responsibilities of cargo owner is shifted to the shoulder of insurance firm which offers compensation to the cargo owner in case loss occurs. International trade has also been raised because of the marine insurance and government can gain financial profit. Government hikes revenue by adding extra income tax, hence it becomes more important for the government also. Insured may get a benefit like a single underwriter covering all cover classes.
This plan covers business interruption, material damage, goods in transit, liability of employer, products liability, public liability, defective title, marine full damage etc. It may include individual watercraft insurance as well as marine organization insurance policies. It is specially designed for an individual or business marine residence use. It makes you completely covered for all types of claims, so without wasting time, just search about this insurance on the internet. As marine insurance is an absolute necessity, so this should be done with a trusted insurance agent or broker. And, try to be precisely aware with entails of this policy. Read all the insurance related documents carefully before finalizing the deal. If you have any query or doubt, then do not hesitate to ask. On the internet, you will get many insurance companies, brokers, agents who offers commercial marine insurance. Be well aware with all the terms & conditions!
Sarika Kodag helps readers to select health insurance policy in India as she has vast experience in this sector. She always looks out for subjects related to insurance and writes informative yet interesting articles on investing, saving and financial planning. Her forte is to comparatively analyze and suggest different insurance policies to her readers. She provides knowledge about various investing options and make reader aware of current news about insurance field. So, they can use it to improve their future.


Article Source: http://EzineArticles.com/7502033

How Rates for Insurance Are Determined


An automated insurance rating system allows for multiple quotes to be obtained in a matter of minutes, saving time and money. "Rate making" (aka insurance pricing) is the way in which insurers determine what rates or premiums to charge for their insurance.
A rate is defined as "the price per unit of insurance for each exposure unit, which is a unit of liability or property with similar characteristics." For example, in property and casualty insurance, the exposure unit is typically equal to $100 of property value, and liability is measured in $1,000 units.
Insurance companies, wholesalers, and Program Administrators need to base how much they charge consumers on an amount that must cover their losses and expenses, and still earn some profit, otherwise the insurer would not be successful. However, all states have laws that regulate what insurance companies can charge, and thus, both business and regulatory objectives must be met.
Protecting the customer
The main regulatory objective of the state is to protect the customer, while also realizing that the insurer must maintain solvency in order to pay claims. Thus, the three main regulatory requirements regarding rates is that:
  • They be fair compared to the risk involved
  • Premiums must be adequate to maintain insurer solvency, and
  • The same rates should be charged for all members of an underwriting class with a similar risk profile
Although competition basically ensures that businesses meet these objectives anyway, the states want to regulate the industry in a way so that fewer insurers will go bankrupt, since many customers depend on insurance companies to avoid their own personal financial calamity.
The main problem that many insurers face in setting fair and adequate premiums is that actual losses and expenses are not known when the premium is collected. Only after the premium period has elapsed will the insurer know what its true costs are. Larger insurance companies maintain their own databases to estimate frequency and the dollar amount of losses for each underwriting class, but smaller companies rely on rating bureaus for loss information.
A rating bureau is a company that collects loss information to sell to insurance companies. A major rating bureau in the United States is the Insurance Services Office (ISO). Nonetheless, ISO, for instance, does not suggest what rates to charge, but only sells the loss data, letting the companies determine what rates to charge, which is why they often rely on some type of automated insurance rating system to help quickly calculate the best rates being offered and then deliver this information to the consumer.
Tom Banks is a co-founder of Netrate which delivers customized rating solutions and more to MGAs, Program Administrators and Insurance Carriers.


Article Source: http://EzineArticles.com/7502762

Business Property Insurance Crucial After A Disaster


Many small business owners are still attempting to recover from the recent storm activity on the East Coast and could use some sound advice to deal with their insurance coverage. The first step for business owners who suffered an interruption in service and damaged products and property is to get in touch with their insurance agent. They are more than willing to assist in sorting out the particulars of the policy and help property owners get back on their feet.
Property Insurance and What it Covers
Property insurance typically provides coverage for damage or theft of the physical property and equipment of the small business. Anyone owning the physical structure (the building), their property insurance program should cover both the structure and its other assets.
Anyone leasing the space they occupy is likely responsible for insuring their personal property and other contents. As a leaseholder, there should be in place a contingency plan in case the landlord or their insurer is not able to promptly repair the building where the business is located.
Business Interruption for When a Disaster Occurs
Business Interruption insurance covers lost earnings due to circumstances stated in the policy, such as weather or a fire that shuts down a business for an extended period of time.
Certain events will trigger this insurance that generally covers expenses associated with running a business, such as payroll and utility bills, based on the company's financial records.
Benefits paid under this type of coverage may not be payable for a certain number of days after the business interruption has occurred, based on the severity of the incident and the number of people and businesses affected. The insurance may also help pay for the extra expenses to keep the business operating until a full recovery is made.
General Planning for Potential Future Severe Weather or Natural disasters
Be sure to consider these issues ahead of a disaster: 
  • Is there an emergency response plan for employees and customers?
  • Are there copies of important papers and information stored off site?
  • Does the stored information offsite include: receipts, photos, insurance policies, contact details, employee roster, etc.?
These documents will be of great assistance when disaster strikes, and later, when the time comes to file a claim.
Be sure to review current insurance policies - are policies up-to-date with insurance coverage needs, and are the limits for coverage at a level that protects investments? Speak with a professional insurance agent about the appropriate coverage and be sure to review policies every year.
Roger R. Minnick is an Insurance Agent for AJ Benet which serves the Insurance needs of residents and businesses in the Metropolitan New York Area.


Article Source: http://EzineArticles.com/7504590

Business Property Insurance Crucial After A Disaster


Many small business owners are still attempting to recover from the recent storm activity on the East Coast and could use some sound advice to deal with their insurance coverage. The first step for business owners who suffered an interruption in service and damaged products and property is to get in touch with their insurance agent. They are more than willing to assist in sorting out the particulars of the policy and help property owners get back on their feet.
Property Insurance and What it Covers
Property insurance typically provides coverage for damage or theft of the physical property and equipment of the small business. Anyone owning the physical structure (the building), their property insurance program should cover both the structure and its other assets.
Anyone leasing the space they occupy is likely responsible for insuring their personal property and other contents. As a leaseholder, there should be in place a contingency plan in case the landlord or their insurer is not able to promptly repair the building where the business is located.
Business Interruption for When a Disaster Occurs
Business Interruption insurance covers lost earnings due to circumstances stated in the policy, such as weather or a fire that shuts down a business for an extended period of time.
Certain events will trigger this insurance that generally covers expenses associated with running a business, such as payroll and utility bills, based on the company's financial records.
Benefits paid under this type of coverage may not be payable for a certain number of days after the business interruption has occurred, based on the severity of the incident and the number of people and businesses affected. The insurance may also help pay for the extra expenses to keep the business operating until a full recovery is made.
General Planning for Potential Future Severe Weather or Natural disasters
Be sure to consider these issues ahead of a disaster: 
  • Is there an emergency response plan for employees and customers?
  • Are there copies of important papers and information stored off site?
  • Does the stored information offsite include: receipts, photos, insurance policies, contact details, employee roster, etc.?
These documents will be of great assistance when disaster strikes, and later, when the time comes to file a claim.
Be sure to review current insurance policies - are policies up-to-date with insurance coverage needs, and are the limits for coverage at a level that protects investments? Speak with a professional insurance agent about the appropriate coverage and be sure to review policies every year.
Roger R. Minnick is an Insurance Agent for AJ Benet which serves the Insurance needs of residents and businesses in the Metropolitan New York Area.


Article Source: http://EzineArticles.com/7504590

Directors and Officers Insurance Crucial to Risk Management


The economic turmoil of the last two years underscores the increasing need for business owners to take appropriate steps to maximize their directors and officers (D&O) liability insurance. Due in part to the collapse of the U.S. credit market back in 2008 and subsequent claims that are still occurring, directors and officers will continue to face an increase in legal entanglements, including:
  • Bankruptcy litigation
  • Shareholder claims
  • Securities class actions
  • Regulatory investigations and suits, and
  • Criminal investigations and prosecutions
Complicating matters even further, high-profile cases have highlighted the mismanagement that goes on at companies and increased regulation and scrutiny by regulatory agencies, such as the SEC has made insurers re-examine their D&O product line, with many implementing tighter underwriting terms and more competitive pricing.
In light of these developments, it is even more important now for a firm to have a world-class D&O insurance program to help see it through worst-case scenarios.
D&O Protects against losses due to accusations of "wrongful acts"
Most D&O policies broadly insure against losses arising out of "wrongful acts" committed by a corporation, its directors and officers, and other high-ranking employees. Typically, D&O policies broadly define "wrongful acts" as "any act, error, misstatement or omissions, neglect or breach of duty" committed by the directors or officers while serving in that capacity.
Moreover, D&O insurance policies function as "litigation insurance," in that they advance legal fees and costs for defending claims against directors and officers. For these reasons, an effective D&O insurance program is a crucial component to effective risk management in the face of increased scrutiny from courts, shareholders, and government regulators.
It's also important that a company understands some of the exclusions that fall under a D&O policy, including one which coverage has been excluded when a regulatory agency or statutory receiver, such as the FDIC, sues a former director or officer. However, most courts have held that the exclusion does not apply in these situations because the exclusion is designed and intended to prevent collusive lawsuits between insureds. Be sure to discuss this with a professional insurance advisor.
In addition, some insurers have also asserted that the "insured vs. insured" exclusion precludes coverage for claims brought by a bankruptcy trustee or a creditors' committee against directors and officers on behalf of the corporation. According to the Administrative Office for the U.S. Courts, business bankruptcy filings remained high in the year ending March 31, 2010, totaling 61,148 compared to 49,091 in the year prior. Given the risks of these arguments, one approach might be an exception (or a "carve-out") to the "insured vs. insured" exclusion for suits brought by a bankruptcy trustee or creditor.
The best bet when it comes to D&O coverage is to be sure that a professional designs a program that meets the company's needs and that the plan, its coverages and exclusions are thoroughly explained.
James A. Laduke is an Insurance Agent for Axis Insurance which specializes in Errors and Omissions Insurance throughout the United States.


Article Source: http://EzineArticles.com/7507871

Critical Covers to Consider While Opting for a Builders Insurance Policy


Builders insurance is an exclusive coverage that protects building owners, builders and contractors from risks that may arise while construction of a property. Construction involves an array of risks that are unpredictable; therefore, it is essential to get insurance protection for workers, property, location and other liabilities that are a part of the construction site.
Important covers to consider while purchasing the policy
Whether it is a new construction or renovation of the existing building, make sure the policy covers all the necessary things that are prone to risks. While considering builders insurance policy, it is very important to consider a comprehensive policy that covers the following:
Property
Property insurance protects against risks to property resulting from fire, theft, vandalism, wind, flood, earthquake, etc. Before deciding on the coverage, it is very important to insure existing structure and the new construction for renovation projects. For new constructions, coverage for foundation, site preparation, excavations, scaffolding, etc. should be considered.
Workers
Look for the personnel covered in the policy. It should invariably cover all workers including the building owner, contractors, sub-contractors and material suppliers. In the event of liabilities because of an injury to any of these, the insurance will recompense them.
Location
The building owner or contractors is/are entirely held responsible by law for whatever happens in the course of construction. Therefore, the construction site and property in transit should be specifically included in this coverage.
Liabilities
As a builder, you are at risk of facing liabilities from employees as well as the public. It is, therefore important to have public liability and employers' liability in place during the time of construction to cover for the claims that may arise due to the negligence of building owner, contractor or any other employee.
Approach a reputed brokerage firm to get a policy that covers all your risks
You may find it hard to determine an insurance cover that is suitable for all your needs, as the issues involved are not that simple. Also, the amount of insurance needed varies across builders depending on the size of business, number of contractors, employees, materials used, etc. Therefore, it is better to take expert advice of reputed brokerage firms. It is also important to know that certain risks are not covered by builders' insurance. Again brokerage firms will be of great help here. Brokerage firms will also help during the claims. Therefore, it is better to take advice from reputed brokerage firm to get a comprehensive builders insurance policy.
Keystone Insurance Group is Ireland's premier supplier of public liability insurance and business insurance solutions to Irish industry. Our experienced and professional team quickly arranges quotes for all classes of business insurance.