In Sri Lanka, motor insurance is the leading sector among the general insurance industry in the country and accounts for more than half of the total general insurance premiums. In 2011, motor insurance premiums grew by around 30% compared to the previous year. The country has introduced several laws that mandate owners of motor vehicles to buy insurance cover in respect of third party bodily injury. The number of cars, which were covered under...more
Helping hand provided by commercial insurance companies to all the clients through the easiest upbringings, it is the main aspect of business to stay protected without any condition that will emerge as the lost situation when we think of a bigger plan about the investment in the right assets. It is all about looking on commercial insurance plans making possible to inherit all the trades of market and perform on the bigger level without any...more
When it comes to investing money, there is always a debate regarding the type of insurance to choose. In India, insurance plans of unit link and term have always been head-to-head and there is a range of theories floating around for both of them. We feel that they are equally essential for an investor to have a balanced and safe saving scheme. However, for an individual who does not understand the markets in depth, this could be extremely confusing. This article will help you put into perspective these plans and know which would be the right one for you.Understanding Term Insurance Term insurance is a basic type of investment, wherein thereis an agreement between an individual and an insurance company, which states that with a certain sum of money or premium at regular interval for a specified time, the company will offer coverage for accidents, deaths or medical expenses. In the end, if there has been no compensation in case of death of the insurer, then this amount may have to be renewed for further coverage.Understanding ULIPThe Unit-Linked Insurance Plan(ULIP)is another tool for investment for individuals. Just like theprevious option, you need to pay a certain amount of money...more
A large number of people visit USA and Canada to visit their children, friends, and relatives. Modern travelers enjoy many advantages over those who used to travel years ago. In addition to the timely transportation and comfortable stay, ensuring a stress-free trip is now easy for visitors by means of Visitors Insurance. A good Visitors Insurance...more
Many doctors and health and fitness experts nowadays are suggesting trampolines like a fun and good way to get families burning calories together. Rather than needing to pay money to sign everybody up for yoga or swimming training, a trampoline is really a easily available bit of sports gear that may be placed in your backyard, and often, mistaken...more
Gradual rise in the insurance costs is a cause of concern amongst the existing insurance policy holders, as well as for the new insurance applicants. The rise in premiums is inevitable since the industry suffers heavy losses each year due to insurance frauds. Undetected insurance frauds affect the insurers by costing time, money and, in certain cases, reputation as well. The insurers are there to run their after all. They raise the costs of insurance coverage, to recover their losses. In the end, the policy owners have to bear the excess costs.Insurance frauds usually occur due to the negligence of the insurance professionals that evaluate the risks for the company. The frauds usually occur in two phases:The application phase - Insurance applicants may provide false information to the insurers. The underwriters evaluate the risks associated with every insurance applicant and accordingly, approve or reject their application. Those who intend to commit insurance frauds may present false claim history or suppress pre-existing conditions to obtain low rates or wider coverage. If the underwriters fail to recognize the risks, it may cost the insurer afterwards.The claim phase - False...more
Christmas is fast approaching and what would you do if you found yourself out of work? For most people this would be a disaster, Christmas is one time of year where the expense really does add up buying presents for friends and family, new clothes...more
There are lots of business insurance seekers mainly look on the coverage that is quite important for the protection against some liability issues which are best describe as the evils of the market. We can take help from such insurance plans which are...more
Many doctors and health and fitness experts nowadays are suggesting trampolines like a fun and good way to get families burning calories together. Rather than needing to pay money to sign everybody up for yoga or swimming training, a trampoline is...more
In the present world in which we live we have to face many unexpected events in our life and so we have to safeguard ourselves against all such situations and for this you need to have proper insurance coverage for our needs. There are many insurers...more
What's the right thing to do at the point you arrive at the point in life that you really in no way noticed emerging from the distance, which is that your own child has without warning come to be the right age to drive and they need your help? Should...more
PI insurance is also known as Professional indemnity insurance or Professional Liability insurance. As today we are leading a fast moving lives, be it that we have enough of security measures around to take care of any mis- happenings. However there...more