Sunday, January 18, 2009

Travel Insurance

Travel Insurance
Travel Insurance

Travel insurance is insurance that is intended to cover medical expenses, financial (such as money invested in nonrefundable pre-payments), and other losses incurred while traveling, either within one's own country, or internationally.

Travel insurance can usually be arranged at the time of booking of a trip to cover exactly the duration of that trip or a more extensive, continuous insurance can be purchased from (most often) travel insurance companies, travel agents or directly from travel suppliers such as cruiselines or tour operators. However, travel insurance purchased from travel suppliers tends to be less inclusive than insurance offered by insurance companies.

Travel insurance often offers coverage for a variety of travelers. Student travel, business travel, leisure travel, adventure travel, cruise travel, and international travel are all various options that can be insured.

The most common risks that are covered by travel insurance are:

Medical expenses
Emergency evacuation/repatriation
Overseas funeral expenses
Accidental death, injury or disablement benefit
Cancellation
Curtailment
Delayed departure
Loss, theft or damage to personal possessions and money (including travel documents)
Delayed baggage (and emergency replacement of essential items)
Legal assistance
Personal liability and rental car damage excess
Some travel policies will also provide cover for additional costs, although these vary widely between providers.

And in addition, often separate insurance can be purchased for specific costs such as:

pre-existing medical conditions (e.g. asthma, diabetes)
sports with an element of risk (e.g. skiing, scuba-diving)
travel to high risk countries (e.g. due to war or natural disasters or acts of terrorism)
Common Exclusions:

pre-existing medical conditions
war or terrorism - but some plans may cover this risk
pregnancy related expenses
injury or illness caused by alcohol or drug use
Travel insurance can also provide helpful services, often 24 hours a day, 7 days a week that can include concierge services and emergency travel assistance.

Typically travel insurance for the duration of a journey costs approximately 5-7% of the cost of the trip.

Casuality Insurance

Casuality Insurance
Casuality Insurance
Casualty insurance policies are written to cover loss that is the direct result of accident. It may include Auto liability insurance for car accidents, Marine insurance for shipwrecks or losses at sea, and etc. Life, health and property insurance are typically excluded from the definition. Loosely used to describe an area of insurance not particularly or directly concerned with life insurance, fire insurance or automobile insurance. Most frequently it refers to liability, crime and plate glass insurance but may include surety as well.

Auto Insurance


Auto Insurance
Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.

Auto insurance provides property, liability and medical coverage:


Property coverage pays for damage to or theft of your car.

Liability coverage pays for your legal responsibility to others for bodily injury or property damage.

Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.

Most auto policies are for six months to a year. Your insurance company should notify you by mail when it’s time to renew the policy and to pay your premium.

Bond Insurance

Bond Insurance
Bond Insurance

Bond insurance is a service whereby issuers of a bond can pay a premium to a third party, who will provide interest and capital repayments as specified in the bond in the event of the failure of the issuer to do so. The effect of this is to raise the rating of the bond to the rating of the insurer; accordingly, a bond insurer's credit rating must be almost perfect.

The premium requested for insurance on a bond is a measure of the perceived risk of failure of the issuer.

Government bonds are almost never insured; municipal bond insurance was introduced in the US in 1971, and by 2002 over 40% of municipal bonds were insured, often by a procedure involving payment of a single premium at the purchase of the bond.

Crime Insurance

Crime Insurance
Crime Insurance
Crime insurance is insurance to cover losses due to victimization by criminals. Many businesses purchase crime insurance that allows them to file claims for employee theft or other offenses with the potential to cause financial ruin. Anarcho-capitalists favor the use of crime insurance by individuals as well, to cover losses due to murder, rape, and other violent crimes in addition to property crimes; this type of crime insurance is termed aggression insurance.

Dental Insurance

Dental Insurance
Dental Insurance

Dental Insurance in the United States is insurance designed to pay the costs associated with dental care. Dental insurance pays a portion of the bills from dentists, and other providers of dental services. By doing so, dental insurance protects people from financial hardship caused by unexpected dental expenses.

The most recent data (2006) from the National Association of Dental Plans shows that 57% of the population in the United States has dental benefit coverage. Some 96% of those who do have dental coverage get it through their employer, most often as a policy separate from their health insurance plan. Depending upon the type of medical coverage you have, it may be a good idea to have a compatible program to eliminate any gaps or overlap within the two plans. That may save money while allowing you to take advantage of receiving necessary preventive care.

Not all dentists are pleased about participating in any type of dental plan. It means more work for them (and especially more paperwork), and less pay. It is also important to have adequate coverage for your situation, so you can access the features you need and are not paying for something you will not use. Most group dental insurance plans do not have restrictions, such as pre-existing conditions but do have annual maximum payments.

The most common types of dental insurance plans are either Preferred Provider Organization (PPO) or Dental Health Maintenance Organization (DHMO). Both types are considered managed care, and each dental insurance plan has benefits and disadvantages.

Dentists participating in the PPO plans have negotiated their fees with the administering company, and provide their services under the plan, but this usually does not cover all fees. Dental plans usually have small deductibles to consider about $50 and DPPOs and traditional indemnity plans usually pay a percentage of the charges, leaving the patient with a co-pay. DHMOs usually state their co-payments as a fixed dollar amount per procedure.

If your employer is paying the monthly premiums for the dental insurance plan and the dentist you use is part of the PPO, this might be an attractive option.

A Dental Health Maintenance Organization is another dental insurance plan option, based on the model of medical HMOs. Here, too, the patient is enrolled in a program, and can visit any dentist in that program. However, dentists may end up having to provide services at 'below cost' rates, and not be able to spend as much time with each person as a PPO could offer. Working in an HMO setting, the dentist has many more people to see and is compelled to function in an environment where volume matters. Although a patient will be seen and treated, the relationship with the dentist may not developed if there is a lack of time. If you want to be seen by a dentist who takes time with his or her patients, this may not be your optimum dental insurance plan.


Dental discount plans are not dental insurance plans

Usually called Discount Plans or Reduced-Fee-For-Service Plans, these non-insurance programs offer subscribers access to dental care at a discounted rate from participating dental providers. Having been around since the early 1990s, these dental benefits programs offer their members discounts on a variety of dental services, such as fillings, braces, exams and routine cleanings in exchange for a fee. Members typically receive a discount of 30%-35% off retail prices.

Unlike traditional indemnity-based dental insurance, discount dental plans have no annual limits, no health restrictions and no paperwork. In addition, consumers must pay either a monthly or yearly membership fee in exchange for the ability to get these discounts on dental services. Most of these plans provide a price list or fee schedule with the discounted dental fees and/or costs listed either on their web site or in membership materials to ensure consumers receive the savings they were promised. However, the dentist must be participating dentist in the plan for you to receive the discount.

For example, your typical discount plan would point you to a dentist who has agreed to participate in the plan that would only charge, say, $625 for a crown instead of the standard rate of $800 to $900. However, keep in mind dental insurance may pay up to 80% of the standard rate and a discount plan may not be your best option.

Discount dental plans are designed for individuals, families and groups looking to save money on their dental care needs. Participating providers have agreed to accept a discounted fee from plan members as payment-in-full for services performed. Discount plans activate anywhere from the same day one enrolls to five business days later.

Be careful if you do not have dental insurance coverage in addition to a discount dental plan, you can be left with a substantial liability for payment to providers. For example, a 25% discount applied to a $2000 dental bill would still leave a person with a $1500 liability. In addition, because payment due at the time of service (i.e. when your dental work is completed), be prepared to pay your dental bill in full before leaving the dental office.

Health Insurance

Health Insurance
Health Insurance

The term health insurance is generally used to describe a form of insurance that pays for medical expenses. It is sometimes used more broadly to include insurance covering disability or long-term nursing or custodial care needs. It may be provided through a government-sponsored social insurance program, or from private insurance companies. It may be purchased on a group basis (e.g., by a firm to cover its employees) or purchased by individual consumers. In each case, the covered groups or individuals pay premiums or taxes to help protect themselves from high or unexpected healthcare expenses. Similar benefits paying for medical expenses may also be provided through social welfare programs funded by the government.

By estimating the overall risk of healthcare expenses, a routine finance structure (such as a monthly premium or annual tax) can be developed, ensuring that money is available to pay for the healthcare benefits specified in the insurance agreement. The benefit is administered by a central organization, most often either a government agency or a private or not-for-profit entity operating a health plan

Home Insurance

Home Insurance
Home Insurance

Home insurance, also commonly called hazard insurance or homeowners insurance (often abbreviated in the real estate industry as HOI), is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home. It requires that at least one of the named insured occupies the home. The dwelling policy (DP) is similar, but used for residences which don't qualify for various reasons, such as non-occupancy or age.

The cost of homeowners insurance often depends on what it would cost to replace the house and which additional riders—additional items to be insured—are attached to the policy. The insurance policy itself is a lengthy contract, and names what will and what will not be paid in the case of various events. Typically, claims due to earthquakes, floods, "Acts of God", or war (whose definition typically includes a nuclear explosion from any source) are excluded. Special insurance can be purchased for these possibilities, including flood insurance and earthquake insurance. Insurance must be updated to the present and existing value at whatever inflation up or down, and an appraisal paid by the insurance company will be added on to the policy premium. Fire insurance will require a special premium charge, plus the addition of smoke detectors and on site fire suppression systems to qualify.

The home insurance policy is usually a term contract—a contract that is in effect for a fixed period of time. The payment the insured makes to the insurer is called the premium. The insured must pay the insurer the premium each term. Most insurers charge a lower premium if it appears less likely the home will be damaged or destroyed: for example, if the house is situated next to a fire station, or if the house is equipped with fire sprinklers and fire alarms. Perpetual insurance, which is a type of home insurance without a fixed term, can also be obtained in certain areas.

In the United States, most home buyers borrow money in the form of a mortgage loan, and the mortgage lender always requires that the buyer purchase homeowners insurance as a condition of the loan, in order to protect the bank if the home were to be destroyed. Anyone with an insurable interest in the property should be listed on the policy. In some cases the mortgagee will waive the need for the mortgagor to carry homeowner's insurance if the value of the land exceeds the amount of the mortgage balance. In a case like this even the total destruction of any buildings would not affect the ability of the lender to be able to foreclose and recover the full amount of the loan.

The insurance crisis in Florida has meant that some waterfront property owners in that state have had to make that decision due to the high cost of premiums

Life Insurance

Life Insurance
Life Insurance

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. In the United States, the predominant form simply specifies a lump sum to be paid on the insured's demise.

As with most insurance policies, life insurance is a contract between the insurer and the policy owner whereby a benefit is paid to the designated beneficiaries if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon the lives of the people named in the policy.

Insured events that may be covered include:

Serious illness
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; for example claims relating to suicide, fraud, war, riot and civil commotion.

Life-based contracts tend to fall into two major categories:

Protection policies - designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance.
Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the US anyway) are whole life, universal life and variable life policies

Property Insurance

Property Insurance
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. Property is insured in two main ways - open perils and named perils. Open perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes, floods, nuclear incidents, acts of terrorism and war. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided. The more common named perils include such damage-causing events as fire, lightning, explosion and theft.

Saturday, January 17, 2009

insurance types

insurance types
Types of insuranceYour insurance requirements vary considerably depending on the type of business you operate. ... There are three broad types of business insurance

.business.gov.au/Business+Entry+Point/Business+Topics/Insurance/Types+of+insurance/

What Is Fire Insurance?

What Is Fire Insurance?A description of fire insurance, what a fire insurance policy contains and what policyholders should do when seeking policy benefits.

http://law.freeadvice.com/insurance_law/insurance_law/fire-insurance.htm

Marine Insurance

Marine Insurance, Houseboat Insurance and Yacht Insurance by ...
American Marine Insurance offers top quality coverage for yachts large and small , sportfishers, sailboats, houseboats, 'offshore high performance' boats

http://www.marineinsureservices.com/

Insurance Jobs, Insurance Recruitment

Insurance Jobs, Insurance Recruitment
Insurance Jobs - Financial Services Jobs - Insurance Recruitment ...
Insurance Jobs, Insurance Recruitment and Financial Services Jobs Portal for the UK. 1000's of insurance jobs / financial jobs from insurance recruitment

http://www.insurancejobsboard.com/

Travel Insurance

Travel Insurance
Instant Quotes or buy online
Travel Medical or Trip Cancellation

http://www.internationalbenefits.com/

Insurance for Businesses

Insurance for Businesses
Business Insurance
Part of the decision about what insurance to buy depends on the nature of the business. For example, if it has a lot of assets, it might consider theft and

http://managementhelp.org/insurnce/insurnce.htm

Pakistan Insurance

Pakistan Insurance
As the only independent and largest insurance agency in Pakistan,we have the ... We also help foreign and multinational insurance companies in acquiring

We are experienced and knowledgeable when it comes to designing the right coverage for your business and help you place the insurance with the best insurance provider.As the only independent and largest insurance agency in Pakistan,we have the buying leverage to negotiate better terms for you.

http://www.pakistaninsurance.com/

Adamjee Insurance Company

Adamjee Insurance Company
Adamjee Insurance Company Limited. The Company's principal activity is to underwrite marine, fire, motor and miscellaneous insurance. The miscellaneous insurance covers engineering, bonding and surety, bankers' insurance, burglary and theft, kidnap and ransom and medical insurance. The other activities of the Company include investment and money management activities. The Company operates in Pakistan, United Kingdom, United Arab Emirates and Saudi Arabia.
http://wrightreports.ecnext.com/coms2/reportdesc_COMPANY_C58652130