Professional Indemnity Insurance:Yes, you can cut costs without cutting corners You know what they say - if it sounds too good to be true, it probably is. A sound maxim most of the time. But not necessarily when it comes to professional indemnity insurance.You might imagine that a cheap professional indemnity quote would automatically mean an inferior level of professional indemnity cover. A generic policy perhaps, not one designed...more
Professional Indemnity Insurance: Can You Explain It To Me Without The Jargon? Imagine that you make a mistake, you get something wrong, or you forget to do something you should have done (and however conscientious you might be, you can't really pretend that you never do any of those things).Now let's suppose that your error results in a financial loss to one of your clients. The client wants to recover that loss and sues you.Professional...more
How Much Tuition Insurance Do I Need? The hefty costs and responsibilities a college career brings from tuition and student loans to textbooks and that midnight pizza habit are widely known by parents and students alike. Parents searching for a way to secure this great investment have found comfort in GradGuard's tuition insurance and Student Protection Plan. Should a student make a medical or mental wellness withdrawal from an accredited educational institution GradGuard's Tuition Insurance refunds the college related costsBefore purchasing tuition insurance it's important to determine just how much coverage a student will need. A rough estimate should be made to determine just how large of an investment is being made in a student's education.The College Board has determined five basic components that contribute to a student's cost of attendance: tuition and fees, room and board, books and supplies, personal expenses, and travel. Take a look at the following for the average amount spent by during the 2009-2010 school year by private four-year university students and public four-year university students.Average Cost of Attendance for the 2009-2010 School Year:On-Campus...more
Generally, medical practitioners are encouraged to purchase malpractice insurance to protect them against liability in case a client decides to sue them for malpractice. Medical professionals while carrying out their professional tasks may have incurred an error, deviation from standards of care, gross negligence, or wrongdoing whether intentional...more
Understanding Medigap Insurance Ratings Prior to you fully commit to signing up for a specific Medigap policy, it pays to know about the distinct Medigap insurance ratings. For those seniors seeking extra medical coverage that supplements Medicare, Medigap is a good choice. Nonetheless, the way Medigap is structured appeals to a wide...more
Insurance Risks - The Burden of Proof The significant feature, however, which distinguishes ARPI from other categories of insurance is that it covers the assured against physical loss caused by all perils and risks. Of course, having covered the assured in the insuring clause, the policy will then continue to exclude cover for various risks in the exclusion clauses, such as nuclear explosion, war, flood and many more. Therefore, is the ARPI different from a standard fire policy? After the application of numerous exclusions, the assured may only be left with cover for fireCertainly in the United States an all risks policy is considered as "different". There is a presumption that it extends cover beyond the norm: "a special insurance and extended to risks other than those usually contemplated" (Goix v. Knox [1800] NY 1 Johns Gas. 337).The key factor distinguishing an ARPI is the reversal of the burden of proof.In a fire policy, the assured must prove that the loss is caused by fire. Under ARPI the assured needs only to prove the loss has taken place, subject to it being fortuitous (although this begs the question as to what is meant by fortuitous or inevitable as discussed...more
Insurance Policy - Physical Loss Or Damage The trigger of coverage is proof of physical loss or damage to or destruction of property identified in the policy. For the purpose of defining the trigger it is not necessary to consider the meaning...more
Top 5 Everlasting Principles of Insurance Of certainty, principles ruled the world. For instance, Sir Isaac Newton propagated the acceleration due to gravity. That is whatever that go up must come down due to gravitational force. In like...more
Insurance - Waiver Or Affirmation? The only remedy available to the insurer in the event of material non-disclosure or misrepresentation is the avoidance of the policy of insurance. It must then return the premium to the assured and parties...more
Authorisation of the Insurer in the United Kingdom An insurance company carrying on the business of insurance in the United Kingdom must be authorised by the Department of Trade and Industry under Sections 2 and 3 of the Insurance Companies...more
Medigap Insurance Plans - What Do They Cover? There are several Medigap plans that cover a variety of aspects. They are lettered A by means of L. Medigap plan A covers hospital coinsurance. This is for days 61-90 as well as days 91-150 in the...more
When you look to obtain a business insurance quote you will either be asked to declare certain information or complete a proposal form. This information will be used to provide you with a quotation and should you choose to accept the quote and incept...more