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...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...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 or spontaneous. And they may be sued for such.For example, if a patient has been injured or harmed by a nurse, surgeon, or dentist intentionally or negligently, the patient may sue the medical professional. When this happens, the medical professional may not use his or her personal money to pay the victim or the plaintiff for the damage incurred. The insurance he or she bought previously may cover for the compensation.Getting insurance policy for malpractice allows the medical practitioner to manage the risks involved in his or her profession. Malpractice insurance provides financial protection from lawsuits and covers the medical practitioner at fault up to several million dollars depending on the coverage of the policy bought. Of course, higher premiums mean higher coverage.The rates of premium in malpractice policy depend on a few...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...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 of event or occurrence, although as we will see, they may be relevant when applying deductibles under the policy.The loss of or damage to the property must be absolute and not temporary. For example, in Moore vs. Evans [1918] the assured was unable to provide proof that the property consigned to a German consignee, prior to the First World War, could not be recovered after the war. Therefore, the assured could not prove that a permanent loss had occurred under the policy. This case is at odds with an Australian case of Ranicar vs. Frigmobile Pty Ltd. [1983] in which it is suggested that a change in the physical state of the goods, although perhaps temporary, can constitute damage.Most, if not all, ARPI policies contain specific clauses excluding indirect or consequential loss, but are such clauses necessary? In the context of ARPI it is generally accepted that consequential or financial loss is not covered without the inclusion of a...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
There are many cheap HGV insurance quotes There has been a rise in the number of accidents involving HGV or heavy goods vehicles, many of which have occurred on days when it has been rainy or foggy. HGV insurance is therefore essential for...more