For term life insurance-the simplest life insurance product out there-the usual turnaround time from application to offer is 46 weeks. 46 weeks? What are those shirts and ties doing at the office all day? Well, it turns out that while you're waiting to hear from the insurer, the insurer is waiting to hear from other parties. A peek into the underwriting process will give you an idea of what to expect when you apply for life...more
Whenever there is an emergency or an accident on the job, an employer must be sure to have the right insurance to cover all of the cost. Many owners are not aware of the importance of California workers compensation insurance and how much it can actually come in handy. This guide will show any employer how important it is to carry a policy as well as tips for shopping for a company to sign up with.In the state of California it is actually the law...more
When planning your retirement, you may have considered purchasing a long-term care policy to help address any medical expenses you might encounter during retirement. The expenses associated with this purchase could deplete your nest egg in some cases, while it could even augment it in others. Buying a long-term care policy has its advantages and disadvantages, depending on your own personal and financial situation.If you buy long-term insurance, you can help prevent the costs of extensive and intensive long-term healthcare from draining your retirement funds. If you have a chronic disorder or potentially debilitating disease that requires medical attention, you can purchase a good insurance policy to address the expenses, and reduce their strain on your finances and those of friends or family.There are numerous disadvantages to buying this type of medical insurance policy. For starters, plans that are individually purchased can range from a thousand dollars to a few thousand in yearly premiums. The figure will be larger if you start paying shortly before or during retirement, and if you need additional features or coverage. This is one of the main reasons why Americans don't buy...more
If you have ever been to the hospital, you know how expensive medical bills can be. If you are hurt in a car accident and are not covered by insurance—usually either because you do not buy your own individual policy or your employer does not provide it—then you will be required to pay quite a bit for your expenses out of pocket.What...more
Young people might feel stressed when, how high car insurance rates for young people could be seen. They fear that their parents are not willing to pay for such great cost and there is no way they can, without driving a car insurance. Most young people still studying, making it almost impossible to pay for them to fork out money for...more
Among the retail consumer products offered by general insurance companies, car insurance is the most complicated in terms of the number of variables that have an impact on the final premium. Online car insurance aggregators such as PolicyTiger are working on providing an easy to use interface where the user can compare the insurance premiums charged by different insurance companies for the car of his choice.The Car Insurance Premium has 3 components- Own Damage, which in most cases is more than 90% of the premium, Third Party and Personal Accident cover.Now, let us have a look at some of the factors that determine the premium charged for car insurance.Location: Under the Motor Insurance act, the country was divided into two zones- the top 8 metros and Rest of the country. The premium for a car registered in the top eight metros is a little higher than it is for the Rest of the country as the perceived risk is higher in these top eight cities- Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Pune, Bangalore and Ahmedabad. Even today, most general insurance companies follow the same classification while some companies have refined this further. For eg, certain companies charge higher...more
Majority of Dubai residents do not purchase travel insurance while travelling outside Dubai, unaware how beneficial a travel insurance policy really can be. A travel policy from a reputed insurer can cover you for unforeseen incidents such loss of...more
Rankin Manufacturing Limited is a small company based in Coventry manufacturing vehicle component parts and is covered by an ARPI policy with Industrial Risks Limited. On 5 August the claims manager of Industrial received a phone call...more
If litigation does subsequently take place, after the close of pleadings each party must disclose all documents relevant to the issues in question. There are various exceptions to that rule, particularly relating to privilege. The...more
If solicitors are to be instructed at an early date, the insurer will probably have the best chance of maintaining privilege at a later date. The involvement of the solicitor in cases of potential fraud is also critical in that he will...more
As part of this investigation it is also important to investigate the past history and habits of the directors of the company. For example, have any of the directors been involved in bankruptcy or insolvency? Do they have criminal...more
As soon as the evidence has been gathered the claims manager should call a meeting of his team to decide whether the evidence justifies rejecting the claim (which has already been made by Rankin Manufacturing Ltd.) or whether, despite...more