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Menampilkan postingan dari November, 2018

Business Plan Template

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The Certificate and Evidence of Insurance forms which ACORD made effective in late 2009/early 2010 have raised alarm among insurance certificate holders and the insureds that must provide them. Unless insurers issue manuscript endorsements to their policies (which is unlikely), insurers no longer make any pledge that they will even attempt to notify most certificate holders if the policies are cancelled. The new certificate forms have eliminated the assurance that the insurer would "endeavor to mail __ days written notice to the certificate holder." They simply state that "...should any of the above described policies be cancelled before the expiration date thereof, notice will be delivered in accordance with the policy provisions." What does that mean to certificate holders under standard insurance policies? Liability and auto - Even if a certificate holder is an additional insured, it will not be notified if the policy is cancelled. Only the First Named Insur…

Business Casual Men

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Insurance is synonymous to a lot of people sharing risks of losses expected from a supposed accident. Here, the costs of the losses will be borne by all the insurers. For example, if Mr. Adam buys a new car and wishes to insure the vehicle against any expected accidents. He will buy an insurance policy from an insurance company through an insurance agent or insurance broker by paying a specific amount of money, called premium, to the insurance company. The moment Mr. Adam pay the premium, the insurer (i.e. the insurance company) issue an insurance policy, or contract paper, to him. In this policy, the insurer analyses how it will pay for all or part of the damages/losses that may occur on Mr. Adam's car. However, just as Mr. Adam is able to buy an insurance policy and is paying to his insurer, a lot of other people in thousands are also doing the same thing. Any one of these people who are insured by the insurer is referred to as insured. Normally, most of these people will ne…

Business Letter Format

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Having the right kind of insurance is central to sound financial planning. Some of us may have some form of insurance but very few really understand what it is or why one must have it. For most Indians insurance is a form of investment or a superb tax saving avenue. Ask an average person about his/her investments and they will proudly mention an insurance product as part of their core investments. Of the approximately 5% of Indians that are insured the proportion of those adequately insured is much lower. Very few of the insured view insurance as purely that. There is perhaps no other financial product that has witnessed such rampant mis-selling at the hands of agents who are over enthusiastic in selling products linking insurance to investment earning them fat commissions. What is Insurance? Insurance is a way of spreading out significant financial risk of a person or business entity to a large group of individuals or business entities in the occurrence of an unfortunate event tha…