Professional Indemnity Insurance

October 28, 2011 Errors & Omissions Insurance
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Fact: Hindsight is usually catastrophic when it comes to the subject of professional indemnity insurance.

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f you do not have it at the very moment you need it, you are SOL, leaving you at risk of tremendous, even unimaginable loss. There is no need to blather about the litigious society in which we live today. There are more lawyers than doctors in Darwinian-struggle for their disproportionate cut of your health care dollar. In this case, the lawyers are winning. Example: an ob-gyn in the state of Florida had to pay an average of $195,000 in 2004 for malpractice insurance before he made the first dime for himself. While lamenting the plight of the poor ob-gyn, one would be very naive not to know that everybody is suing everybody else.

We recall how the legendary CPA firm, Arthur Anderson, after getting caught up in the Enron swindle, was forced to … Read More....

Commercial Health Insurance

October 28, 2011 Commercial Health
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ometimes referred to as private insurance, Commercial Health Insurance is any kind of health insurance that is not managed or offered by the government or government-owned or controlled entity. Companies that offer commercial health insurance are for-profit entities who offer insurance services as personal or individual plans or through group plans. In all instances, only those who are able to pay premiums for insurance coverage are offered commercial insurance.

Insurance Plan

Often, an employer provides access to commercial insurance by way of a group insurance plan. This is available to employees who qualify because they’ve met the criteria set by the employer. The criteria could be in terms of number of hours worked, the length of time the employee has been with the company, or some other similar factor taken into consideration by the employer. Payment for the insurance program may vary. The employer has the options of either … Read More....

Commercial Insurance

October 28, 2011 Commercial Insurance
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ommercial Insurance is defined as a contract between a business owner and an insurer company the purpose of which is to minimize the business owner’s risk against unexpected losses from a variety of cases like weather, vandalism, accidents, lawsuits and the like. A commercial insurance is not free, however, because there is such thing as a premium which is also often referred to as hedge.

Who Benefits?

Any business owner will benefit from a commercial insurance because it will be able to reduce the risk that may be encountered. The business owner insures his company’s real estate, properties, and other assets, as well as the health and safety of his employees. If the owner is a lawyer or a property appraiser or any other professional, he can avail of an Errors and Omissions Insurance. For a medical physician he can avail of the Medical Malpractice Insurance.

Classifications

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Decreasing Term Life Insurance

October 27, 2011 Term Life Insurance
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ecreasing term life insurance is a type of insurance that the payout decreases over time. A person pays a monthly premium, and as time goes by, the insurance company will pay less if the person dies. The reason this type of insurance exists is because certain death risks become much lower with age. These risks can include: reckless activities, death from childbirth, car accidents, work-related accidents such as dismemberment, or stress related health issues, drunk driving, and many other causes of death that mostly affect younger people. As the person gets older, the insurance company will pay less for the death.

This type of life insurance is best used in conjunction with another form of insurance. It is also best for younger people who live high-risk lives. An older person will benefit more from a different kind of term life insurance. This type of term life insurance is often … Read More....

Commercial Insurance Agents

October 27, 2011 Commercial Insurance
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here are many complicated issues involved in doing business today. Business owners and entrepreneurs undertake significant risk in the course of doing business and running their companies. They minimize these risks with commercial insurance and good business practices. Commercial insurance is more comprehensive than individual insurance. An individual may have an auto insurance policy, a homeowners insurance policy, and a life insurance policy, but business insurance, especially for companies with employees, involves many more coverage needs than the average individual.

Commercial insurance agents advise and sell business owners and managers about what kinds of insurance are available and necessary to protect their business and property. They may also offer financial advice and services. There are insurance agents and insurance brokers who handle business insurance. An agent typically represents and sells insurance for one insurance company; a broker gets quotes and bids from several or many insurance companies for clients … Read More....

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