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All About Insurance: Insurance News: Farmers Insurance Is Presenting Sponsor of the Warren Spahn Awards Gala

2012-01-25T01:06:00.000-08:00

All About Insurance: Insurance News: Farmers Insurance Is Presenting Sponsor of the Warren Spahn Awards Gala

This post I would like to share with you an interesting news regarding insurance, that's the news about Farmers Insurance...

Visa-Insurance: All About Insurance

Farmers Insurance Is Presenting Sponsor of the Warren Spahn Awards Gala:

OKLAHOMA CITY, OK, Jan 25, 2012 (MARKETWIRE via COMTEX) -- Each year, Oklahoma City's Bricktown Rotary Club presents the Warren Spahn Award to the best left-handed pitcher in Major League Baseball. This year's winner is L.A Dodgers pitcher Clayton Kershaw, who will attend the Warren Spahn Gala set for January 26.

"Farmers Insurance congratulates Clayton Kershaw," noted John Lucido, Farmers Oklahoma State Executive Director. "The award is based upon a statistical formula of the pitcher's wins, strikeouts and earned run average. Kershaw led in all categories with 21 wins, 248 strikeouts and a 2.28 E.R.A. We are proud to help recognize and honor excellence in athletics, and especially a great player like Mr. Kershaw who set all the pitching records this year."

Warren Spahn, one of the best left-handed pitchers in Major League Baseball history, played his entire 21-year baseball career in the National League. He won 20 games each in 13 seasons, including a 23-7 record when he was age 42. Spahn was the 1957 Cy Young Award winner, and was the runner-up three times, all during the period when just one award was given. He was elected to the Baseball Hall of Fame in 1973. Spahn won 363 games, more than any other left-handed pitcher in history, and more than any other pitcher who played his entire career in the post-1920 live-ball era.

"Farmers Insurance is proud to help recognize and honor excellence in athletics, just as we help our agents and employees achieve excellence in customer service," Lucido added. "At the same time, another key part of our mission is giving back to the community. So, we want to thank Mr. Kershaw for the work he is doing to help children and families. And, we want to heartily congratulate him for being this year's recipient of the Warren Spahn award."

Kershaw and his wife are helping build an orphanage in the African country of Zambia.

Farmers Insurance Group of Companies is the country's 3rd largest insurer of both personal lines passenger automobile and homeowners insurance, and also provides a wide range of other insurance and financial services products. Farmers Insurance is proud to serve more than 10 million households with more than 20 million individual policies across all 50 states through the efforts of over 50,000 exclusive and independent agents and nearly 24,000 employees...

Read more at www.marketwatch.com...

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All About Insurance: Insurance Expert Tips On Wind Damage

2012-01-25T00:50:00.000-08:00

All About Insurance: Insurance Expert Tips On Wind Damage

Visa-Insurance: All About Insurance

Do you know wind? How the power of wind it is?

Generally, wind is the flow of gases on a large scale. On Earth, wind consists of the bulk movement of air. In outer space, solar wind is the movement of gases or charged particles from the sun through space, while planetary wind is the outgassing of light chemical elements from a planet's atmosphere into space. Winds are commonly classified by their spatial scale, their speed, the types of forces that cause them, the regions in which they occur, and their effect. The strongest observed winds on a planet in our solar system occur on Neptune and Saturn.

In meteorology, winds are often referred to according to their strength, and the direction from which the wind is blowing. Short bursts of high speed wind are termed gusts. Strong winds of intermediate duration (around one minute) are termed squalls. Long-duration winds have various names associated with their average strength, such as breeze, gale, storm, hurricane, and typhoon. Wind occurs on a range of scales, from thunderstorm flows lasting tens of minutes, to local breezes generated by heating of land surfaces and lasting a few hours, to global winds resulting from the difference in absorption of solar energy between the climate zones on Earth. The two main causes of large-scale atmospheric circulation are the differential heating between the equator and the poles, and the rotation of the planet (Coriolis effect). Within the tropics, thermal low circulations over terrain and high plateaus can drive monsoon circulations. In coastal areas the sea breeze/land breeze cycle can define local winds; in areas that have variable terrain, mountain and valley breezes can dominate local winds.

In human civilization, wind has inspired mythology, influenced the events of history, expanded the range of transport and warfare, and provided a power source for mechanical work, electricity and recreation. Wind powers the voyages of sailing ships across Earth's oceans. Hot air balloons use the wind to take short trips, and powered flight uses it to increase lift and reduce fuel consumption. Areas of wind shear caused by various weather phenomena can lead to dangerous situations for aircraft. When winds become strong, trees and man-made structures are damaged or destroyed.

Winds can shape landforms, via a variety of aeolian processes such as the formation of fertile soils, such as loess, and by erosion. Dust from large deserts can be moved great distances from its source region by the prevailing winds; winds that are accelerated by rough topography and associated with dust outbreaks have been assigned regional names in various parts of the world because of their significant effects on those regions. Wind affects the spread of wildfires. Winds disperse seeds from various plants, enabling the survival and dispersal of those plant species, as well as flying insect populations. When combined with cold temperatures, wind has a negative impact on livestock. Wind affects animals' food stores, as well as their hunting and defensive strategies.

How about the power of the wind?

Wind power is the conversion of wind energy into a useful form of energy, such as using wind turbines to make electricity, windmills for mechanical power, windpumps for water pumping or drainage, or sails to propel ships.

The total amount of economically extractable power available from the wind is considerably more than present human power use from all sources. At the end of 2010, worldwide nameplate capacity of wind-powered generators was 197 gigawatts (GW). Wind power now has the capacity to generate 430 TWh annually, which is about 2.5% of worldwide electricity usage. Over the past five years the average annual growth in new installations has been 27.6 percent. Wind power market penetration is expected to reach 3.35 percent by 2013 and 8 percent by 2018. Several countries have already achieved relatively high levels of wind power penetration, such as 21% of stationary electricity production in Denmark, 18% in Portugal, 16% in Spain, 14% in Ireland and 9% in Germany in 2010. As of 2011, 83 countries around the world are using wind power on a commercial basis.

A large wind farm may consist of several hundred individual wind turbines which are connected to the electric power transmission network. Offshore wind power can harness the better wind speeds that are available offshore compared to on land, so offshore wind power’s contribution in terms of electricity supplied is higher. Small onshore wind facilities are used to provide electricity to isolated locations and utility companies increasingly buy back surplus electricity produced by small domestic wind turbines. Although a variable source of power, the intermittency of wind seldom creates problems when using wind power to supply up to 20% of total electricity demand, but as the proportion rises, increased costs, a need to use storage such as pumped-storage hydroelectricity, upgrade the grid, or a lowered ability to supplant conventional production may occur. Power management techniques such as excess capacity, storage, dispatchable backing supply (usually natural gas), exporting and importing power to neighboring areas or reducing demand when wind production is low, can mitigate these problems.

Wind power, as an alternative to fossil fuels, is plentiful, renewable, widely distributed, clean, produces no greenhouse gas emissions during operation, and uses little land. In operation, the overall cost per unit of energy produced is similar to the cost for new coal and natural gas installations. The construction of wind farms is not universally welcomed, but any effects on the environment from wind power are generally much less problematic than those of any other power source.

How the wind can damage our properties?

High winds are known to cause damage, depending upon their strength. Infrequent wind gusts can cause poorly designed suspension bridges to sway. When wind gusts are at a similar frequency to the swaying of the bridge, the bridge can be destroyed more easily, such as what occurred with the Tacoma Narrows Bridge in 1940. Wind speeds as low as 23 knots (43 km/h) can lead to power outages due to tree branches disrupting the flow of energy through power lines. While no species of tree is guaranteed to stand up to hurricane-force winds, those with shallow roots are more prone to uproot, and brittle trees such as eucalyptus, sea hibiscus, and avocado are more prone to damage.

Wind can tear the roofs from buildings, rip siding from exterior walls, and throw
debris through windows. Falling trees can crush roofs and walls.

How to protect against wind damage?

To protect against wind damage without making any structural changes to a
building, you can:

- Identify and remove trees and branches that could fall on the building
walls or roof, or on power lines.

- Identify and repair loose or damaged building components such as siding,
soffit and fascia, shingles and roofing, brickwork, and brick chimneys.

How about insurance on wind damage?

Watch out the video below to get explanation about wind damage insurance tips...
Northwest Insurance Council President Karl Newman explains how wind damage is covered in home owners policies. Newman appeared on Northwest Notebook hosted by Ty Ray...

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All About Insurance: How to Get a Car Insurance Quote

2012-01-23T18:02:00.000-08:00

All About Insurance: How to Get a Car Insurance Quote

As my post in the past about car/auto insurance, now let check back what is car insurance????

Visa-Insurance: All About Insurance

Car insurance (also known as Vehicle insurance, auto insurance, gap insurance, or motor insurance) is insurance purchased for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage and/or bodily injury resulting from traffic collisions and against liability that could also arise therefrom. The specific terms of vehicle insurance vary with legal regulations in each region. In many jurisdictions it is compulsory to have vehicle insurance before using or keeping a motor vehicle on public roads. Most jurisdictions relate insurance to both the car and the driver, however the degree of each varies greatly. Several jurisdictions have experimented with a "pay-as-you-drive" insurance plan which is paid through a gasoline tax (petrol tax). This would address issues of uninsured motorists and also charge based on the miles (kilometres) driven, which could theoretically increase the efficiency of the insurance, through streamlined collection.

Depending on the jurisdiction, the insurance premium can be either mandated by the government or determined by the insurance company, in accordance with a framework of regulations set by the government. Often, the insurer will have more freedom to set the price on physical damage coverages than on mandatory liability coverages.

When the premium is not mandated by the government, it is usually derived from the calculations of an actuary, based on statistical data. The premium can vary depending on many factors that are believed to have an impact on the expected cost of future claims. Those factors can include the car characteristics, the coverage selected (deductible, limit, covered perils), the profile of the driver (age, gender, driving history) and the usage of the car (commute to work or not, predicted annual distance driven).

Vehicle insurance can cover some or all of the following items:

- The insured party (medical payments)
- The insured vehicle (physical damage)
- Third parties (car and people, property damage and bodily injury)
- Third party, fire and theft
- In some jurisdictions coverage for injuries to persons riding in the insured vehicle is available without regard to fault in the auto accident (No Fault Auto Insurance)

Different policies specify the circumstances under which each item is covered. For example, a vehicle can be insured against theft, fire damage, or accident damage independently.

Watch out the video below to know the explanation about how to get car insurance quote...

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All About Insurance: 4 Reasons Everyone Gets Life Insurance

2012-01-23T17:39:00.000-08:00

All About Insurance: Four Reasons Everyone Gets Life Insurance

What is Life Insurance?

As my post since 2009, I already posted about life insurance, here please let me remind you again...

Visa-Insurance: All About Insurance

Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the "benefits") upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes included in the premium; however, in Australia the predominant form simply specifies a lump sum to be paid on the policy holder's death. The advantage for the policy owner is "peace of mind", in knowing that the death of the insured person will not result in financial hardship for loved ones.

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; common examples are 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) are whole life, universal life and variable life policies.

Why our people get life insurance?

The simple answer is they need it. We can continuously ask, why they need life insurance? Because, they need it to insure their life is living in a good condition, a good situation or may escape from any harmfulness, I think..

But for the video of a guy below, he explains four reasons why people get life insurance...

1. To replace their income..
2. To replace their mortgage amount..
3....
4....

For more details of the 4 reasons everyone gets life insurance, please watch out the video below...

For another video which life insurance is the best for you???

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Love Sharing: http://visa-love.blogspot.com/
NetworkSecurity: http://networksecuritynotes.blogspot.com/
About Insurance:http://visa-insurance.blogspot.com
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All About Insurance: Insurance vs. Assurance

2012-01-23T17:19:00.000-08:00

All About Insurance: Insurance vs. Assurance

The specific uses of the terms "insurance" and "assurance" are sometimes confused. In general, in jurisdictions where both terms are used, "insurance" refers to providing coverage for an event that might happen (fire, theft, flood, etc.), while "assurance" is the provision of coverage for an event that is certain to happen. In the United States both forms of coverage are called "insurance", for reasons of simplicity in companies selling both products.

Visa-Insurance: All About Insurance

In generally, Insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated.

And assurance, simply refers to assurance services. Assurance service is an independent professional service, typically provided by CPAs, with the goal of improving the information or the context of the information so that decision makers can make more informed, and presumably better decisions. Assurance services provide independent and professional opinions that reduce the information risk (risk that comes from incorrect information). Certified Public Accountant (CPA) is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA. Individuals who have passed the Exam but have not either accomplished the required on-the-job experience or have previously met it but in the meantime have lapsed their continuing professional education are, in many states, permitted the designation "CPA Inactive" or an equivalent phrase. In most U.S. states, only CPAs who are licensed are able to provide to the public attestation (including auditing) opinions on financial statements. The exceptions to this rule are Arizona, Kansas, North Carolina and Ohio where, although the "CPA" designation is restricted, the practice of auditing is not.

==> Watch out the videos below to know Insurance or Assuarnce...

1. In first video, Insurance or Assurance, the man will explain about health insurance vs. health assurance...Dr. Opare tells why he would rather takes steps to assure his health than rely on someone else to insure his health. Our Health Assurance Program is designed to show you how to restore your natural healing power and then, help you STAY healthy and avoid illness in the future...

2. In second video, Insurance or Assurance, watch the activities of a woman, we will see assurance vs. insurance...

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All About Insurance: Insurance Expert: How to Sell Insurance

2012-01-09T19:35:00.000-08:00

All About Insurance: Insurance Expert: How to Sell Insurance

When selling insurance, consider advertising in a variety of markets, including television commercials, vending machines, direct mail or newspaper ads. Help a customer find the insurance policy that fits them best with tips from an insurance agent in this free video on insurance.

Expert: Vic Schumacher
Contact: www.HPEFinancialServices.com
Bio: Vic Schumacher is part of HPE Financial Services, a brokerage insurance company representing all major carriers.
Filmmaker: Christopher Rokosz

Vic Schumacher's Experience:

President
HPE Financial Services

January 2002 – Present (10 years 1 month)

HPE Financial Services, Inc. is an insurance brokerage agency that focuses on asset protection for individuals and small businesses. The companies we represent offer Life Insurance, Annuities, Medical Insurance, Long Term Care Insurance and Medicare.
President
Touch Tone Marketing

June 1971 – January 2002 (30 years 8 months)

Independent Contractor that implemented sales and marketing programs for other companies. Applications included using Prepaid Phone Cards, Infomercials, Internet Marketing and Voice/Data telephone services. Clients included: Paxson Communications, Aldephia Business Solutions, Innovative Telecom Solutions, Home Shopping Network, Community Information Television, Aladdin Industries, GTE Sylvania.

More visit Vic Schumacher's LinkedIn page>>>
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All About Insurance: Long Term Care Planning And Long Term Care Insurance

2012-01-09T19:02:00.000-08:00

All About Insurance: Long Term Care Planning And Long Term Care Insurance

Long-term care (LTC) is a variety of services which help meet both the medical and non-medical needs of people with a chronic illness or disability who cannot care for themselves for long periods of time. It is common for long-term care to provide custodial and non-skilled care, such as assisting with normal daily tasks like dressing, bathing, and using the bathroom. Increasingly, long-term care involves providing a level of medical care that requires the expertise of skilled practitioners to address the often multiple chronic conditions associated with older populations. Long-term care can be provided at home, in the community, in assisted living facilities or in nursing homes. Long-term care may be needed by people of any age, although it is a more common need for senior citizens.

All About Insurance: Denise Gott

All About Insurance: Long Term Care Planning And Long Term Care Insurance

Watch video below to the explanation of Denise Gott. She's Ohio-based long term care insurance expert. She explains why all Americans need to do long term care planning, and most should consider long term care insurance to protect their assets and provide funds for care if and when the need arises. Denise Gott is also a Partner and Board Chairman of LTC Financial Partners, LLC, one of the nation's most experienced long term care insurance agencies.

More about Denise Gott...Denise Gott is VP of Sales for LTC Financial Partners, the Nation’s largest long term care insurance agency. She has over 12 years experience in long term care insurance sales and marketing and serves as Chairman of the Board for LTCFP.

Denise is a certified continuing education instructor teaching courses for financial advisors, insurance agents, estate planners, CPAs, and attorneys on the issues surrounding long-term care. She also provides the Ohio and Florida Partnership for Long Term Care Certification. Denise has been recognized in dozens of media outlets and has appeared on the Lifetime Network and CNN Radio.

She has contributed to multiple articles and publications including the book “Dignity for Life” and the “3 in 4 Need More” campaign for education on long term care.

Denise holds an MBA from Bowling Green State University, a Certification in Long-Term Care (CLTC), and is past President of the Cleveland Chapter of the National Association of Insurance & Financial Advisors (NAIFA). She is a member of the Society for Financial Service Professionals, the Financial Planning Association and eWomenNetwork. She maintains offices in Fort Myers, Florida and Cleveland, Ohio..Source:Corporatewellnessconference

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Love Sharing: http://visa-love.blogspot.com/
NetworkSecurity: http://networksecuritynotes.blogspot.com/
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All About Insurance: Meet Insurance Expert Bill Hager

2012-01-09T18:41:00.000-08:00

All About Insurance: Meet Insurance Expert Bill Hager

Bill Hager, born on February 6, 1947, is a businessman, attorney and Republican politician who serves as a Representative in the Florida House of Representatives. He was first elected in 2010. Hager received his Bachelors degree from the University of Northern Iowa in 1969, Masters degree from the University of Hawaii in 1972, and Juris Doctorate from the University of Illinois at Urbana-Champaign in 1974. Hager is a former commissioner and Vice-Mayor of Boca Raton, Florida, and currently resides in the city with his two daughters. Hager represents District 87 in the legislature, which covers parts of Boca Raton, Boynton Beach, Briny Breezes, Deerfield Beach, Delray Beach, Gulf Stream, Highland Beach, Hypoluxo, Ocean Ridge and Manalapan.

Meet Insurance Expert Bill Hager
Insurance expert Bill Hager speaks about his experience as Iowa Insurance Commissioner, President of NCCI, and General Counsel to the American Academy of Actuaries...>>>> Watch on Youtube>>>>>>>>>

Official Bio for Representative Bill Hager>>>

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WWE: http://visa-wwe.blogspot.com/
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NetworkSecurity: http://networksecuritynotes.blogspot.com/
About Insurance:http://visa-insurance.blogspot.com
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All About Insurance: Finance: Dave Ramsey: How to be Financially Successful

2011-12-14T17:57:00.000-08:00

All About Insurance: Dave Ramsey: How to be Financially Successful

Visa-Insurance: All About Insurance

Here again with Dave Ramsey...As I have posted on my previous post about Life Insurance with Dave Ramsey that's also explained by Dave Ramsey. Who's Dave Ramsey? Please check my previous post, I've already wrote about Dave Ramsey...For me I think, Dave Ramsey is one of financial experts. I like his explanation on financial field...

This post of the video below, we will be explained about how to be Financially Successful...

Extra content from the documentary "Maxed Out" from radio financial guru Dave Ramsey, a "tough love" guy in the vein of Dr. Phil who teaches in this video how to get out of debt and accumulate wealth-- simply and elegantly. Watch this repeatedly to burn the ideas into your brain.

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All About Insurance: Life Insurance With Dave Ramsey

2011-12-14T17:31:00.000-08:00

All About Insurance: Life Insurance With Dave Ramsey

Visa-Insurance: All About Insurance

Dave Ramsey(David L. Ramsey III) (born September 3, 1960) is an American financial author, radio host, television personality, and motivational speaker.

Ramsey's syndicated radio program The Dave Ramsey Show is promoted with a tagline that "It's about your life and your money," and it is heard on over 450 radio stations throughout the United States and Canada, as well as in podcast format and on XM and Sirius satellite radio. He has written numerous books. His books and broadcasts often feature a Christian perspective that reflects Ramsey's religious beliefs. Ramsey was named the 2009 Marconi Award winner for Network/Syndicated Personality of the Year.

Ramsey's current company, The Lampo Group, is headquartered in Brentwood, Tennessee, and oversees three divisions geared toward financial counseling.

Ramsey has been featured on many media outlets including The Oprah Winfrey Show, 60 Minutes, and The Early Show on CBS. He recorded a pilot and six unaired episodes of The Dave Ramsey Project for CBS. He was the host of The Dave Ramsey Show, which aired at 8 p.m. ET and repeated weekdays on the Fox Business Network until June 2010.

Dave Ramsey on life insurance

The video below, Dave Ramsey will talk about life insurance...

Many people have a long term need for life insurance.
How can you recommend term to everyone?
Don't you feel like you're giving them bad advice?
Their term life insurance will likely expire when they need it most.

Dave Ramsey Life Insurance Explained:

Here is how and why you should buy TERM LIFE Insurance!

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Daily Blogging: http://visablogging.blogspot.com/
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NetworkSecurity: http://networksecuritynotes.blogspot.com/
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All About Insurance: Auto-Car Insurance: The World Smallest and Biggest Cars

2011-11-06T04:24:00.000-08:00

All About Insurance: Auto-Car Insurance: The World Smallest and Biggest Cars

This post, Wanna show you the world smallest and biggest cars:

The World's Smallest Car:

It's the Peel P50 - the world's smallest production car, weighing a mere 130 pounds (59kg).

The Biggest Car in the world:

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WWE: http://visa-wwe.blogspot.com/
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Daily Blogging: http://visablogging.blogspot.com/
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NetworkSecurity: http://networksecuritynotes.blogspot.com/
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All About Insurance: Insurance is a Risk Management technique. Risk Management Plan

2011-11-06T02:44:00.000-08:00

All About Insurance: Insurance is a Risk Management technique. Risk Management Plan

ViSa-Insurance: Risk Management

As you already knew about the Process of Risk Management, here you should know more about the Risk Management Plan...

A Risk Management Plan is a document prepared by a project manager to foresee risks, to estimate the impacts, and to create response plans to mitigate them. It also consists of the risk assessment matrix.

A risk is defined as "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives." Risk is inherent with any project, and project managers should assess risks continually and develop plans to address them. The risk management plan contains an analysis of likely risks with both high and low impact, as well as mitigation strategies to help the project avoid being derailed should common problems arise. Risk management plans should be periodically reviewed by the project team in order to avoid having the analysis become stale and not reflective of actual potential project risks.

Most critically, risk management plans include a risk strategy. Broadly, there are four potential strategies, with numerous variations. Projects may choose to:

* Accept risk; simply take the chance that the negative impact will be incurred
* Avoid risk; changing plans in order to prevent the problem from arising
* Mitigate risk; lessening its impact through intermediate steps
* Transfer risk; outsource risk to a capable third party that can manage the outcome

Risk management plans often include matrices.

What is Risk Matrix?

A Risk is the amount of harm that can be expected to occur during a given time period due to specific harm event (e.g., an accident). Statistically, the level of risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm). In practice, the amount of risk is usually categorized into a small number of levels because neither the probability nor harm severity can typically be estimated with accuracy and precision.

A Risk Matrix is a matrix that is used during Risk Assessment to define the various levels of risk as the product of the harm probability categories and harm severity categories.

Although many standard risk matrices exist in different contexts (US DoD, NASA, ISO) , individual projects and organizations may need to create their own or tailor an existing risk matrix.

For example, the harm severity can be categorized as:

* Catastrophic - Multiple Deaths
* Critical - One Death or Multiple Severe Injuries
* Marginal - One Severe Injury or Multiple Minor Injuries
* Negligible - One Minor Injury

The probability of harm occuring might be categorized as 'Certain', 'Likely', 'Possible', 'Unlikely' and 'Rare'. However it must be considered that very low probabilities may not be very reliable.

The resulting Risk Matrix could be :

	Negligible	Marginal	Critical	Catastrophic
Certain	High	High	Extreme	Extreme
Likely	Moderate	High	High	Extreme
Possible	Low	Moderate	High	Extreme
Unlikely	Low	Low	Moderate	Extreme
Rare	Low	Low	Moderate	High

Problems with Risk Matrix:

In his article 'What's Wrong with Risk Matrices?' , Tony Cox argues that risk matrices experience several problematic mathematical features making it harder to assess risks. These are:

* Poor Resolution. Typical risk matrices can correctly and unambiguously compare only a small fraction (e.g., less than 10%) of randomly selected pairs of hazards. They can assign identical ratings to quantitatively very different risks (“range compression”).

* Errors. Risk matrices can mistakenly assign higher qualitative ratings to quantitatively smaller risks. For risks with negatively correlated frequencies and severities, they can be “worse than useless,” leading to worse-than-random decisions.

* Suboptimal Resource Allocation. Effective allocation of resources to risk-reducing countermeasures cannot be based on the categories provided by risk matrices.

* Ambiguous Inputs and Outputs. Categorizations of severity cannot be made objectively for uncertain consequences. Inputs to risk matrices (e.g., frequency and severity categorizations) and resulting outputs (i.e., risk ratings) require subjective interpretation, and different users may obtain opposite ratings of the same quantitative risks. These limitations suggest that risk matrices should be used with caution, and only with careful explanations of embedded judgments.

What is Risk assessment?

Risk assessment is a step in a risk management procedure. Risk assessment is the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat (also called hazard). Quantitative risk assessment requires calculations of two components of risk: R, the magnitude of the potential loss L, and the probability p, that the loss will occur. In all types of engineering of complex systems sophisticated risk assessments are often made within Safety engineering and Reliability engineering when it concerns threats to life, environment or machine functioning. The nuclear, aerospace, oil, rail and military industries have a long history of dealing with risk assessment. Also, medical, hospital, and food industries control risks and perform risk assessments on a continual basis. Methods for assessment of risk may differ between industries and whether it pertains to general financial decisions or environmental, ecological, or public health risk assessment.

For more understanding about Risk Management Plan, let's watch the videos relating to the Risk Management Plan:

Risk Management Plan:

Risk Management: Creating A Risk Management Plan:
This video explains how to create a client risk management plan in ClearRisk Manager.

ClearRisk Manager is the platform to build risk management plans, and the tools with which to implement them. Need a plan? We can help. Free plans available on the ClearRisk site (www.clearrisk.com)

Business Plans : Writing a Risk Management Plan:
A risk management plan is critical towards a company's business development, as it is a part of the business plan that details the risks of the business. Detail financial risks and risks about a customer base with help from an experienced businessman in this free video on planning a business.

Expert: John Niemira
Bio: John Niemira is a business professional who has been in the business industry for many years.
Filmmaker: Michael Burton

Webinar - Developing a Risk Management Plan:
March 24-25, 2010

Having a well-developed risk management plan demonstrates the health center's or clinic's commitment to managing risks and improving patient safety. The plan also articulates the goals of the risk management program and provides authority and responsibility to the risk manager and other individuals for program implementation. ECRI Institute's audio conference, "Developing a Risk Management Plan" provides an overview of the key elements of a risk management plan, steps to implementation, and monitoring for effectiveness.

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All About Insurance: How to Get Title Insurance for a Home

2011-11-02T18:01:00.000-07:00

All About Insurance: How to Get Title Insurance for a Home

Hello visitor! This post I would like to research for you about how to get Title Insurance for your home.

All About Insurance: How to Get Title Insurance for a Home

Well, before you get the Home Title Insurance, at first I would like to put a question that: Do you have your own home yet? If not yet, you should learn some about How to Survey a House or Housing Inspections, what kind of house do you prefer to buy? What kind of house's environment you want to live? Relevant to this issue, I would recommend you to watch the videos of our experience professional below:

1. How to Survey a House:

2. Housing Inspections:

Yeah, I think we will understand some main points regarding house buying or preparing before buying a new house.

Anyway, do you know about the Title Insurance?

According to Wikipedia wrote: [Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. Title insurance is principally a product developed and sold in the United States as a result of an alleged comparative deficiency of the U.S. land records laws. It is meant to protect an owner's or a lender's financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy. The first title insurance company, the Law Property Assurance and Trust Society, was formed in Pennsylvania in 1853.The vast majority of title insurance policies are written on land within the U.S.

Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, lease or life estate. Just as lenders require fire insurance and other types of insurance coverage to protect their investment, nearly all institutional lenders also require title insurance to protect their interest in the collateral of loans secured by real estate. Some mortgage lenders, especially non-institutional lenders, may not require title insurance. Buyers purchasing properties for cash (without a lender) often want title insurance as well.

Title insurance is available in many other countries, such as Canada, Australia, the United Kingdom, Mexico, New Zealand, Japan, China, Korea and throughout Europe. However, while a substantial number of properties located in these countries are insured by U.S. title insurers, they do not constitute a significant share of the real estate transactions in those countries. They also do not constitute a large share of U.S. title insurers' revenues. In many cases these are properties to be used for commercial purposes by U.S. companies doing business abroad, or properties financed by U.S lenders. The U.S. companies involved buy title insurance to obtain the security of a U.S. insurer backing up the evidence of title that they receive from the other country's land registration system, and payment of legal defense costs if the title is challenged.]

To understand more clearly about the Title Insurance. We can watch videos below that they explain about the Title Insurance...What is Title Insurance and Why Do I Need It?

WHAT IS TITLE INSURANCE

What is Title Insurance and Why Do I Need It?

Title insurance protects against losses and legal expenses you may incur should a claim arise and question your ownership.>> Watch Title Insurance Explained Visually:

At this time, I think you already understand a lot about home buying and the Title Insurance.

Now, It's time to know about how to get Title Insurance for a Home:
Watch as a real-estate professional explains how to get title insurance for a home in this free online video for novice homebuyers.

Expert: John Jackson
Bio: John Jackson has years of experience and has put together a professional real estate team known as John Jackson & Associates.
Filmmaker: Ross Safronoff

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All About Insurance: Who Is the Best Company to Use for Car Insurance?

2011-11-01T08:24:00.000-07:00

All About Insurance: Who Is the Best Company to Use for Car Insurance?

Visa-Insurance: All About Insurance

Who Is the Best Company to Use for Car Insurance?

Progressive is the Best Company to Use for Car Insurance...

I absolutely disapprove paying for car insurance. Unfortunately, it is something that every driver must have. Even if you dont care about your safety or the safety of others, the law unexcited requires that you must have car insurance in order to drive. I also abhor insurance salesman. I always feel like theyre trying to score me to acquire the most expensive policy, which Im sure they are. That is why I employ Progressive for my auto insurance.

>>> Watch out the video of car insurance below to see how it's the best!

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All About Insurance: Car insurance - Make Me Richer

2011-11-01T08:16:00.000-07:00

All About Insurance: Car insurance - Make Me Richer

Visa-Insurance: All About Insurance

The Auto insurance GetSafeInsurance.com car insurance is proud to be as the seventh largest personal auto insurance company in California and this Auto insurance GetSafeInsurance.com car insurance insures over 2.5 million automobiles.

The most important thing with the Auto insurance GetSafeInsurance.com car insurance is that the Auto insurance GetSafeInsurance.com car insurance company receives much of Auto insurance GetSafeInsurance.com car insurance business through referrals from current policy holders. In Auto insurance GetSafeInsurance.com car insurance the average annual renewal rate of existing policy holders is calculated to be over 96%. Insurance is always required for all those things which are costly. Lets say insurance acts as a buffer and gives peace of mind to the insurer. That is very true. Some people think that insurance is a waste of time and money , but nothing can be obtain in return. This is never the case, insurance provides a cover to the person or the commodity thereby taking care of the liabilities taking place due to accidents or other unwanted occurrences.

Cheap car insurance quotes on line As we buy different commodities, in the same way insurance can be bought through the following avenues : direct company , banks, insurance agents, corporate dealer. Insurance is available for almost every thing these days including the traditional life insurance to car insurance, bike insurance, house insurance, goods insurance etc. All these can be bought from all the mentioned sources, but due to the advent of technology the internet is also being used for buying insurance. to learn more about all types of insurance we cater please visit our website at GetSafeInsurance.com

Car insurance - Make Me Richer >>> How comes???
>>>>>>>>>>Watch the video the video to see how car insurance make me rich...

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All About Insurance: What to do after a car accident and dealing with insurance?

2011-10-22T05:40:00.000-07:00

All About Insurance: What to do after a car accident and dealing with insurance?

Visa-Insurance: All About Insurance

Well, everyone doesn't want to have any accident on the road or street. But what to do if the accident happens???

What to do after a traffic accident?

Steps to Take After a Traffic Accident:

1. Secure your vehicle

2. Make sure you and your passengers are safe

3. Call police and if needed an ambulance...
Look for witnesses and get their contact information...
Stick to basic facts and don't admit guilt to anyone including the police..
Call your insurance provider, Get a medical exam...

The necessary steps that everyone should take right after being involved in a car accident. Secure your vehicle, make sure you and your passengers are safe, call police and if needed an ambulance, look for witnesses and get their contact information, stick to basic facts and don't admit guilt to anyone including the police, take pictures of damage and scene, get name, address, phone number and insurance information of all parties involved, then call your insurance company...

What to Do After a Car Accident?
Let see the steps from About.com...

1. Put the car in park
2. Turn on your emergency signal lights
3. Don't leave the scene of the accident!
4. Assess injuries..
5. Inspect car for damages...

Car accidents are scary enough, but knowing what immediate steps you must take after a crash will give you one less thing to worry about. Find out what you should do and who you should call after a car accident...

What to do after a car accident and dealing with insurance?

What to do after a car accident? How do I deal with insurance? How do I file a claim? Do I need a lawyer if I am in a car accident? Order our FREE Guide to answer all your questions before you sign any insurance forms or hire a lawyer in Pennsylvania.

To get safety while you're driving, Just remember in mind that:

1. Do not drive after you're drunk!

2. Do not drive when you feel sleepy, stop your car at the road side and sleep!

3. The most important thing, follow your own national traffic rules!!!

Wish you drive safety!!!

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All About Insurance: Insurance Companies Deal With Repair Shops

2011-10-22T05:32:00.000-07:00

All About Insurance: Insurance Companies Deal With Repair Shops

Visa-Insurance: All About Insurance

Watch out the video below to know about Insurance Companies Deal With Repair Shops...

A great story out of New York about insurance companies driving repair shops out of business.

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All About Insurance: How Insurance: Tips to Make Your Home Safe and Secure

2011-10-22T05:24:00.000-07:00

All About Insurance: How Insurance: Tips to Make Your Home Safe and Secure

Visa-Insurance: All About Insurance

Watch a video below to know how to make your home safe and secure...

For every one of us, the very word home means a place that's safe. Keeping your place secure takes a little planning and attention. Here are a few tips to help keep your home safe and secure.

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All About Insurance: Beautiful Girls With Car Insurance

2011-10-08T21:31:00.000-07:00

All About Insurance: Beautiful Girls With Car Insurance

I would like to share with you an animation photos of beautiful girls with car or auto insurance...please enjoy below:

Visa-Insurance: Beautiful Girls with Car Insurance

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All About Insurance: The Prerequisites for car insurance

2011-10-08T20:49:00.000-07:00

The Prerequisites for car insurance

There are basically three prerequisites for classic car insurance.

Visa-Insurance: All About Insurance

1. Register Your Car:

Car registering is the first and most important point.
Where the car has been registered? The answer is with authorities.
What problem do you have if you have accident along the road while you are driving unregistered car??? For sure, any problem will happen on you.

2. Eligibility for classic car insurance:

In order to get the eligibility for the car insurance, you’ve got to make sure that your car is roadworthy.
Your cars are usually deemed classic only after they are more than 10 years old.
Possessing a vintage car does not entitle you to cause hazards to public health and safety.
So, get your certifications right. Classic car insurance would save the car, but the authorities should know that it’s worth saving.

3. Look for online classic car insurance policies:

If you look for online classic car insurance policies, you’d see that every company on the block would need you to have receipts of road tax payment.
All road tax related payments should be clear at the time of applying for classic car insurance.
There shouldn’t be any pending litigations against the car also.
So, steer clear of trouble and neatly stack your road tax payment proof before you go apply for cherished car insurance.

Finally, please remember the three prerequisites for classic car insurance as described above to insurance your car...

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All About Insurance: 4 Steps to Saving Money on Health Insurance and Medical Expenses

2011-10-08T20:10:00.000-07:00

All About Insurance: 4 Steps to Saving Money on Health Insurance and Medical Expenses

In our daily life, if we just work and work, and earn and earn, pay and pay, especially we pay on insurance fields like our car insurance, home insurance, the most important thing in life is health insurance...and we don't know how to save our money..That's not good...

Watch out the video below, a guy will explain or introduce to you the 4 Steps to Saving Money on Health Insurance and Medical Expenses...This is a great and important video for us to find out more about health insurance and the way to save money as well..

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All About Insurance: Funny Car Insurance Video: I AM SORRY, I DO NOT SEE IT

2011-10-08T19:48:00.000-07:00

All About Insurance: Funny Car Insurance Video

It's a wise choice to buy insurance for your car after you bought your new car. What happened with your car like the video below if you don't yet bought car insurance???

Let check it out..

*** Funny Car Insurance Video...

I'm sorry, I don't see it!!!

All About Insurance: Insurance by Region: Asia Insurance Company: Top Five Insurance Companies in Cambodia

2011-10-06T20:17:00.000-07:00

All About Insurance: Insurance Region: Asia Insurance Company: Top Insurance Companies in Cambodia

Visa-Insurance: All About Insurance

This post I would like to introduce to you the top insurance companies in Cambodia, including:

1. ASIA INSURANCE (CAMBODIA) PLC.

Asia Insurance (Cambodia) plays a very important role in the development of the Cambodian Insurance Market. This user friendly website is designed to provide all potential clients with the necessary information they need to make an informed decision about their insurance needs.

An integral member of the Hong Kong based Asia Insurance Group of companies, and born out of the need to service our overseas client's local operations here, Asia Insurance (Cambodia) was formed and registered in Phnom Penh, on March 14, 1996.

By way of reference, the Hong Kong based Asia Insurance Group, is an association of now three indigenous Asian Insurance Companies, namely; Asia Insurance Co. Ltd. (Hong Kong), Bangkok Insurance Public Co. Ltd. (Thailand) and Central Asia Insurance (Indonesia).

All three constituent members, with associated companies & branches in China, Indonesia, Philippines, Taiwan, Thailand, and Vietnam, are well-established leading insurance groups in their respective countries of incorporation, strongly capitalised, soundly managed, having extensive business connections, and consistent record of development and profitability.

To date, the shareholders of Asia Insurance (Cambodia) have testified to their long term commitment to the Cambodian Insurance market by paying up the required US$4'200'000 investment in capital for the insurance license, as required by the Insurance Law and it's Sub-decree, which requires a total paid-up capital of 60% of the registered capital of US$7,000,000.00.

As of March 2007, the shareholder's profile of Asia Insurance (Cambodia) is as follows:

Asia Insurance Company Ltd., Hong Kong.
Bangkok Insurance public Company Limited, Thailand.
Central Asia Insurance, Indonesia.
AIOI Insurance Company Limited, Japan.
Mistsui Sumitomo Insurance Company Limited, Japan.
Mr. Van Sou Ieng.

With such strong financial support, Asia Insurance (Cambodia), is positive about it's future, while continuously striving to be a market leader in non-life Insurance through efficient professional service, and a close relationship with it's clients.

2. CAMBODIAN NATIONAL INSURANCE COMPANY (CAMINCO)

Cambodian National Insurance Company (CAMINCO), the first state-owned insurance company in Cambodia, was officially established in 1990 by the Ministry of Economy and Finance.

In the mid June 1993, it had started its operations in Cambodian market.

In 1996, four companies have been appointed as agent of CAMINCO such as Indochine Insurance Union (1996-2004), PANA Trading Cambodia (1996-2002), Asia Insurance (Cambodia) Ltd (1996-2002) and Forte Trading Private Ltd (1997-2002).

From 2001-2008, CAMINCO was converted from the state-owned insurance company to a Public Enterprise that had been an operator and a player in the Cambodian insurance market following Sub-decree Nº132 dated December 31st, 2001, and it was the first insurance company that was granted the license for 5 years on General Insurance Service by the Ministry of Economy and Finance on December 12th, 2002, and registered capital requirement of USD 7 millions (Riel 28,000.00 millions).

From June 2008-Present, CAMINCO was transformed into a joint venture with a private partner, Viriyah BVB (CAMBODIA) Insurance Plc, which holds 75% of CAMINCO shares.

3. Infinity General Insurance Plc.

Driving business to success entails the ability to manage risks and changes. Infinity Insurance empowers businesses to transform risks into opportunities and sustainable progress. As a fully capitalized insurer in Cambodia, we are committed to taking risks on behalf of our clients so they are free to focus on things that really matter to their businesses.

Infinity Insurance is the country's first and only insurance company to offer unparalleled assurance of service quality backed by international partners that are renowned industry leaders worldwide, in Asia Pacific and Cambodia. Sound management skills, a rigorous underwriting discipline, dynamic risk management, and a strong balance sheet all ensure that we will always be there for our clients.

We adhere to high standards of governance and transparency to maintain excellence in product design, workforce training, and systems development. Our insurance products and solutions fulfill best practice standards that exceed mere compliance with accepted regulations.

With an unswerving aim for superiority in business expertise, needs assessment, and customer service, Infinity Insurance has become the emerging leader in the country's insurance industry. We are in the best position to help your business take risks.

4. Cambodian Reinsurance Company

Cambodian Reinsurance Company, known as Cambodia Re, was established under Sub-Decree No. 07AN.KR.MK by the Royal Government of Cambodia on 24 the January 2002 . The company is incorporating with the registered capital of USD 7 million for its operation regarding to the Insurance Law of Cambodia. In order to build up the capacity and financial strengths with the ideal of privatization, company reached a Joint Venture agreement with Asian Insurance International (AII) with the sales of 20 percent of share of Cambodia Re on 16 January 2004.

5. Forte Insurance

Forte Insurance, is today the foremost provider of insurance cover in Cambodia. We entered the market in pursuit of a clear vision for both the company and the industry – insurance that is competitive while respected for integrity, high standards and transparency.

Forte Insurance is dedicated to providing exceptionally comprehensive and efficient insurance services to all our clients, while ensuring the continued growth and training of our staff and assisting in the development of the insurance market in Cambodia.

Over the years, our unparalleled expertise in the field of insurance has allowed us to build a strong reputation for honesty and integrity. In recognition of these strengths and the unrivaled service we provide, we have proudly become the largest and foremost provider of underwriting services in Cambodia.

...

Well, I have found and posted the five Cambodia insurance companies above, if you have any more insurance company in Cambodia, please comment below, thanks...

Other sites you may want to see:

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WWE: http://visa-wwe.blogspot.com/
The Kingdom of Wonder: http://welcome2cambodia.blogspot.com/
Daily Blogging: http://visablogging.blogspot.com/
Love Sharing: http://visa-love.blogspot.com/
NetworkSecurity: http://networksecuritynotes.blogspot.com/
About Insurance:http://visa-insurance.blogspot.com
All about Love: http://visa-love.blogspot.com/
Learning English Online: http://visa-elb.blogspot.com/
Discovery Internet: http://visa-isp.blogspot.com/

All About Insurance: Insurance News: California insurance compensation fund to scrap up to 1,800 jobs

2011-10-06T19:58:00.000-07:00

All About Insurance: Insurance News: California insurance compensation fund to scrap up to 1,800 jobs

SACRAMENTO, Calif. - The quasi-public State Compensation Insurance Fund said Thursday that it's going to lay off up to a quarter of its 7,300 employees whose work has been crowded out by evolving technology and streamlining.

State Fund, battling for market share in a down economy and to hold down its expenses, will eliminate between 1,500 jobs and 1,800 jobs by the second quarter of 2012 to save $150 million per year. It's the first time the organization has announced layoffs since the Great Depression.

About 440 of its employees work in Sacramento County. Fund officials declined to provide details about those jobs for fear of stoking speculation about the impact of layoffs, because plans are still in the formative stage.

A tentative list of job classifications on the statewide cut list provided to The Sacramento Bee includes payroll auditors who make sure businesses have sufficient insurance coverage and a variety of office and clerical positions.

"Many of these are jobs that tend to be on the lower end of the payroll" and that technology has made inefficient or obsolete, said fund spokesman Jennifer Vargen.

Lawmakers established State Fund in 1914 as California's business "insurer of last resort." Today it is California's largest provider of workers' compensation insurance, taking on clients that private-sector insurers often dismiss.

That mission forces the fund to operate as a private enterprise and a public entity: It competes with insurers and operates solely on investment returns and client premiums. At the same time, its employees are government workers, and it isn't supposed to make a big profit.

Over the last few years, State Fund has struggled to contain costs. It spends 90 cents for every dollar of premium it writes. The industry average is 40 cents.

It "spends more operating the company than it does paying benefits to injured workers, which is extremely unusual in the insurance industry," according to a fund fact sheet that explains the rationale for the layoffs.

Meanwhile, the landscape has dramatically shifted since 2005. Back then, the fund controlled 53 percent of California's workers' compensation insurance market and employed 9,300 people. In the last seven years, however, its premium volume has fallen 87 percent and its market share is off 70 percent.

Fund staffing during that period fell just 21 percent...

Read more at: http://www.bellinghamherald.com/2011/10/06/2217562/california-insurance-compensation.html

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All About Insurance: Insurance is a Risk Management technique. The Process of Risk Management

2011-10-06T19:12:00.000-07:00

All About Insurance: Insurance is a Risk Management technique. The Process of Risk Management

You may already knew some context related to the principles of Risk Management. Here, this post I would like to introduce you more about the process of Risk Management...

Once again, Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures (at any phase in development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary or events of uncertain root-cause. Several risk management standards have been developed including the Project Management Institute, the National Institute of Science and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.

ViSa-Insurance: Risk Management

The process of Risk Management includes: Establishing the context, Identification, and Assessment...

I. Establishing the context:

Establishing the context involves:

1. Identification of risk in a selected domain of interest
2. Planning the remainder of the process.
3. Mapping out the following:
* the social scope of risk management
* the identity and objectives of stakeholders
* the basis upon which risks will be evaluated, constraints.
4. Defining a framework for the activity and an agenda for identification.
5. Developing an analysis of risks involved in the process.
6. Mitigation or Solution of risks using available technological, human and organizational resources.

II. Identification:

After establishing the context, the next step in the process of managing risk is to identify potential risks. Risks are about events that, when triggered, cause problems. Hence, risk identification can start with the source of problems, or with the problem itself.

* Source analysis: Risk sources may be internal or external to the system that is the target of risk management.

Examples of risk sources are: stakeholders of a project, employees of a company or the weather over an airport.

* Problem analysis: Risks are related to identified threats. For example: the threat of losing money, the threat of abuse of privacy information or the threat of accidents and casualties. The threats may exist with various entities, most important with shareholders, customers and legislative bodies such as the government.

When either source or problem is known, the events that a source may trigger or the events that can lead to a problem can be investigated. For example: stakeholders withdrawing during a project may endanger funding of the project; privacy information may be stolen by employees even within a closed network; lightning striking an aircraft during takeoff may make all people on board immediate casualties.

The chosen method of identifying risks may depend on culture, industry practice and compliance. The identification methods are formed by templates or the development of templates for identifying source, problem or event. Common risk identification methods are:

* Objectives-based risk identification: Organizations and project teams have objectives. Any event that may endanger achieving an objective partly or completely is identified as risk.
* Scenario-based risk identification: In scenario analysis different scenarios are created. The scenarios may be the alternative ways to achieve an objective, or an analysis of the interaction of forces in, for example, a market or battle. Any event that triggers an undesired scenario alternative is identified as risk - see Futures Studies for methodology used by Futurists.
* Taxonomy-based risk identification: The taxonomy in taxonomy-based risk identification is a breakdown of possible risk sources. Based on the taxonomy and knowledge of best practices, a questionnaire is compiled. The answers to the questions reveal risks.
* Common-risk checking: In several industries, lists with known risks are available. Each risk in the list can be checked for application to a particular situation.
* Risk charting: This method combines the above approaches by listing resources at risk, threats to those resources, modifying factors which may increase or decrease the risk and consequences it is wished to avoid. Creating a matrix under these headings enables a variety of approaches. One can begin with resources and consider the threats they are exposed to and the consequences of each. Alternatively one can start with the threats and examine which resources they would affect, or one can begin with the consequences and determine which combination of threats and resources would be involved to bring them about.

III. Assessment:

Once risks have been identified, they must then be assessed as to their potential severity of impact (generally a negative impact, such as damage or loss) and to the probability of occurrence. These quantities can be either simple to measure, in the case of the value of a lost building, or impossible to know for sure in the case of the probability of an unlikely event occurring. Therefore, in the assessment process it is critical to make the best educated decisions in order to properly prioritize the implementation of the risk management plan.

Even a short-term positive improvement can have long-term negative impacts. Take the "turnpike" example. A highway is widened to allow more traffic. More traffic capacity leads to greater development in the areas surrounding the improved traffic capacity. Over time, traffic thereby increases to fill available capacity. Turnpikes thereby need to be expanded in a seemingly endless cycles. There are many other engineering examples where expanded capacity (to do any function) is soon filled by increased demand. Since expansion comes at a cost, the resulting growth could become unsustainable without forecasting and management.

The fundamental difficulty in risk assessment is determining the rate of occurrence since statistical information is not available on all kinds of past incidents. Furthermore, evaluating the severity of the consequences (impact) is often quite difficult for intangible assets. Asset valuation is another question that needs to be addressed. Thus, best educated opinions and available statistics are the primary sources of information. Nevertheless, risk assessment should produce such information for the management of the organization that the primary risks are easy to understand and that the risk management decisions may be prioritized. Thus, there have been several theories and attempts to quantify risks. Numerous different risk formulae exist, but perhaps the most widely accepted formula for risk quantification is: Rate (or probability) of occurrence multiplied by the impact of the event equals risk magnitude.

More details about the Risk Management, the Risk Management process, I would love to recommend you to watch the risk management associate video below:

*** Risk Management Course:

Risk Management is a complex topic with countless published sources for reference...To obtain strong project outcomes by implementing an appropriate risk management process...

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All About Insurance: Health Insurance Good for Massachusetts

2011-08-25T18:13:00.000-07:00

This post is a kind of Insurance news which I would like to share with you.
Based on CNSNews, Government-Mandated Health Insurance Good for Massachusetts...
A question about the constitutionality of the government requiring individuals to purchase health insurance put Mitt Romney on the defensive at the Republican debate in Ames, Iowa, Thursday night.

Regarding the Massachusetts Insurance, we may know about Massachusetts health care reform...

According Wikipedia, The Massachusetts health care insurance reform law (sobriquet: "Romneycare"), enacted in 2006, mandates that nearly every resident of Massachusetts obtain a state-government-regulated minimum level of healthcare insurance coverage and provides free health care insurance for residents earning less than 150% of the federal poverty level (FPL) who are not eligible for Mass Health (Medicaid). The law also partially-subsidizes health care insurance for those earning up to 300% of the FPL. These subsidies and FPL-related calculations affect very few of the over 6,000,000 people (see Massachusetts Department of Healthcare Finance and Policy quarterly Key Indicators report) that had healthcare insurance prior to the enactment of the law.

The law established an independent public authority, the Commonwealth Health Insurance Connector Authority, also known as the Health Connector. Among other roles, the Connector acts as an insurance broker to offer private insurance plans to residents. The reform legislation also included tax penalties for failing to obtain an insurance plan. Massachusetts tax filers who failed to enroll in a health insurance plan which was deemed affordable for them lost the $219 personal exemption on their income tax. Beginning in 2008, penalties increased by monthly increments.

Poverty in the United States:

Poverty in the United States is cyclical in nature with roughly 13 to 17% of Americans living below the federal poverty line at any given point in time, and roughly 40% falling below the poverty line at some point within a 10-year time span.[citation needed] Poverty is defined as the state of one who lacks a usual or socially acceptable amount of money or material possessions. According to the U.S. Census Bureau, approximately 43.6 million (14.3%) Americans were living in absolute poverty in 2009, up from 39.8 million (13.2%) in 2008.

The government's definition of poverty is not tied to an absolute value of how much an individual or family can afford, but is tied to a relative level based on total income received. For example, the poverty level for 2011 was set at $22,350 (total yearly income) for a family of four. Most Americans (58.5%) will spend at least one year below the poverty line at some point between ages 25 and 75. There remains some controversy over whether the official poverty threshold over- or understates poverty.

The most common measure of poverty in the United States is the "poverty threshold" set by the U.S. government. This measure recognizes poverty as a lack of those goods and services commonly taken for granted by members of mainstream society. The official threshold is adjusted for inflation using the consumer price index.

Relative poverty describes how income relates to the median income, and does not imply that the person is lacking anything. In general the United States has some of the highest relative poverty rates among industrialized countries. In terms of pre-transfer absolute poverty rates, in 2000 the United States ranked tenth among sixteen developed countries, though 2000 was a 'trough' year and subsequently absolute poverty rates have increased. The US does worse in post-transfer absolute poverty rates. According to a 2008 report released by the Carsey Institute at the University of New Hampshire, on average, rates of poverty are persistently higher in rural and inner city parts of the country as compared to suburban areas. The number of people in the U.S. who are in poverty is increasing to record levels with the ranks of working-age poor approaching 1960s levels that led to the national war on poverty.

The Background of Massachusetts health care reform:

The healthcare insurance reform law was enacted as Chapter 58 of the Acts of 2006 of the Massachusetts General Court; its long form title is An Act Providing Access to Affordable, Quality, Accountable Health Care. In October 2006, January 2007, and November 2007, bills were enacted that amended and made technical corrections to the statute (Chapters 324 and 450 of the Acts of 2006, and chapter 205 of the Acts of 2007)

Estimates of the number of Massachusetts residents who were uninsured in 2006 prior to implementation of the reform law was about 6% of the population according to the Massachusetts DHCFP quarterly Key Indicators report (see its website), the most recent of which is dated May 2010 (although it was actually released on August 15, 2010). The number of people insured as of December 2009 is currently 5,473,000 not counting Medicare enrollees (see same report). Depending on population growth, now about 4% of the population is uninsured.

Allegedly because of their lack of health insurance, uninsured Massachusetts residents commonly utilize emergency rooms as a source of primary care. The United States Congress passed the Emergency Medical Treatment and Active Labor Act (EMTALA) in 1986. EMTALA requires hospitals and ambulance services to provide care to anyone needing emergency treatment regardless of citizenship, legal status or ability to pay. EMTALA applies to virtually all hospitals in the U.S but includes no provisions for reimbursement. EMTALA is therefore considered an "unfunded safety net program" for patients seeking care at the nation's emergency rooms. As a result of the 1986 EMTALA legislation, hospitals across the country faced unpaid bills and mounting expenses to care for the uninsured. Data following enactment of mandatory insurance show total emergency visits and spending continued to increase, and low-severity emergency visits decreased less than 2%; researchers concluded, "To the extent that policymakers expected a substantial decrease in overall and low-severity ED visits, this study does not support those expectations."

In Massachusetts, a fund of approximately $700 million, known as the Uncompensated Care Pool (or "free care pool"), was used to partially reimburse hospitals and health centers for these expenses and the expenses of non-residents. The fund was created through an annual assessment on insurance providers and hospitals, plus state and federal contributions. It was predicted that implementation of the Massachusetts health reform law would result in a decrease in expenses incurred in providing services to the uninsured, as the number of covered Massachusetts residents increased. In 2006, an MIT economics professor Jonathan Gruber predicted that the amount of money in the "free care pool" would be sufficient to pay for reform legislation without requiring additional funding or taxes. In fact, the increased cost of subsidized insurance offset the reduction in "free care", while insurance premiums increased faster than the national average and became the highest in the country.

Emergency Medical Treatment and Active Labor Act

The Emergency Medical Treatment and Active Labor Act (EMTALA) is a U.S. Act of Congress passed in 1986 as part of the Consolidated Omnibus Budget Reconciliation Act (COBRA). It requires hospitals and ambulance services to provide care to anyone needing emergency healthcare treatment regardless of citizenship, legal status or ability to pay. There are no reimbursement provisions. As a result of the act, patients needing emergency treatment can be discharged only under their own informed consent or when their condition requires transfer to a hospital better equipped to administer the treatment.

EMTALA applies to "participating hospitals", i.e., those that accept payment from the Department of Health and Human Services, Centers for Medicare and Medicaid Services (CMS) under the Medicare program. However, in practical terms, EMTALA applies to virtually all hospitals in the U.S., with the exception of the Shriners Hospitals for Children, Indian Health Service hospitals, and Veterans Affairs hospitals[citation needed]. The combined payments of Medicare and Medicaid, $602 billion in 2004, or roughly 44% of all medical expenditures in the U.S., make not participating in EMTALA impractical for nearly all hospitals. EMTALA's provisions apply to all patients, and not just to Medicare patients.

The cost of emergency care required by EMTALA is not directly covered by the federal government. Because of this, the law has been criticized by some as an unfunded mandate. Similarly, it has attracted controversy for its impacts on hospitals, and in particular, for its possible contributions to an emergency medical system that is "overburdened, underfunded and highly fragmented." More than half of all emergency room care in the U.S. now goes uncompensated[citation needed]. Hospitals write off such care as charity or bad debt for tax purposes. Increasing financial pressures on hospitals in the period since EMTALA's passage have caused consolidations and closures, so the number of emergency rooms is decreasing despite increasing demand for emergency care. There is also debate about the extent to which EMTALA has led to cost-shifting and higher rates for insured or paying hospital patients, thereby contributing to the high overall rate of medical inflation in the U.S.

Let watch the video from CNSNews, Romney: Government-Mandated Health Insurance Good for Massachusetts:

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All About Insurance: Insurance is a Risk Management technique. What is Risk Management ?

2011-07-14T19:21:00.000-07:00

What is Risk Management ?

Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures (at any phase in development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary or events of uncertain root-cause. Several risk management standards have been developed including the Project Management Institute, the National Institute of Science and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.

ViSa-Insurance: Risk Management

The strategies to manage risk include transferring the risk to another party, avoiding the risk, reducing the negative effect or probability of the risk, or even accepting some or all of the consequences of a particular risk.

Certain aspects of many of the risk management standards have come under criticism for having no measurable improvement on risk, whether the confidence in estimates and decisions seem to increase.

Introduction Risk Management:

This section provides an introduction to the principles of risk management. The vocabulary of risk management is defined in ISO Guide 73, "Risk management. Vocabulary."

In ideal risk management, a prioritization process is followed whereby the risks with the greatest loss and the greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled in descending order. In practice the process can be very difficult, and balancing between risks with a high probability of occurrence but lower loss versus a risk with high loss but lower probability of occurrence can often be mishandled.

Intangible risk management identifies a new type of a risk that has a 100% probability of occurring but is ignored by the organization due to a lack of identification ability. For example, when deficient knowledge is applied to a situation, a knowledge risk materializes. Relationship risk appears when ineffective collaboration occurs. Process-engagement risk may be an issue when ineffective operational procedures are applied. These risks directly reduce the productivity of knowledge workers, decrease cost effectiveness, profitability, service, quality, reputation, brand value, and earnings quality. Intangible risk management allows risk management to create immediate value from the identification and reduction of risks that reduce productivity.

Risk management also faces difficulties in allocating resources. This is the idea of opportunity cost. Resources spent on risk management could have been spent on more profitable activities. Again, ideal risk management minimizes spending and minimizes the negative effects of risks.

Method of Risk Management:

For the most part, these methods consist of the following elements, performed, more or less, in the following order.

1. identify, characterize, and assess threats
2. assess the vulnerability of critical assets to specific threats
3. determine the risk (i.e. the expected consequences of specific types of attacks on specific assets)
4. identify ways to reduce those risks
5. prioritize risk reduction measures based on a strategy

Principles of risk management:

What is International Organization for Standardization (ISO)?

The International Organization for Standardization, widely known as ISO, is an international standard-setting body composed of representatives from various national standards organizations. Founded on February 23, 1947, the organization promulgates worldwide proprietary industrial and commercial standards. It has its headquarters in Geneva, Switzerland. While ISO defines itself as a non-governmental organization, its ability to set standards that often become law, either through treaties or national standards, makes it more powerful than most non-governmental organizations. In practice, ISO acts as a consortium with strong links to governments.

The International Organization for Standardization (ISO) identifies the following principles of risk management:

Risk management should:

* create value
* be an integral part of organizational processes
* be part of decision making
* explicitly address uncertainty and assumptions
* be systematic and structured
* be based on the best available information
* be tailorable
* take into account human factors
* be transparent and inclusive
* be dynamic, iterative and responsive to change
* be capable of continual improvement and enhancement

...

* Watch the video below to find out about Fundamentals of Risk Management

Dr. Suman Banerjee of Tulane University's A. B. Freeman School of Business examines risk management and how it impacts corporate decisions in good times and in bad. What is financial risk management and how does it impact corporate value? Banerjee's lecture explains the need for risk management and how it has arrived at the forefront of corporate management and investment strategy....

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All About Insurance: Saving Money on Homeowners Insurance

2011-07-02T21:17:00.000-07:00

Saving Money on Homeowners Insurance

Hello my friend visitor! Today this post I would like to share with you a great video talking about Saving Money on Homeowners Insurance.

Well, as you know we take lots of days, months and years to save money enough to buy and own a new house or home. Be a home or house owner, we always want to insure our home with an affordable price in order to save money on home insurance.

Please watch the video below to know some other tips regarding the saving money tips on Homeowners Insurance...

Insurance may be necessary, but it doesn't have to be expensive. Our money reporter Stacy Johnson has been giving us ways to save on insurance all month. Today he explores homeowners insurance.

All About Insurance: Top Videos of Funny Insurance Commercial

2011-06-15T18:02:00.000-07:00

All About Insurance: Top Videos of Funny Insurance Commercial

This post, All About Insurance blog would like to share you some funny videos of Insurance commercial. We love to make you laugh, please enjoy laughing with the videos below:

* Funny insurance commercial - From Thailand: This video would show you the auto insurance/car insurance, home insurance, life insurance....The Funny insurance commercial - From Thailand:

* Funny Insurance Commercial: This video may also show you auto insurance/car insurance, home insurance, life insurance, travel insurance...The Funny Insurance Commercial...

* Another Funny insurance commercial video: This video may show you only auto or car insurance, I think...

* Another Funny insurance commercial : The video would present you about home insurance, life insurance...

* Funny Car Insurance Commercial - Cat : The video shows you a woman. She too much pays attention on car insurance without knowing her cat is being in danger...

.....

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All About Insurance: Reduce Your Insurance to Save Hundreds of dollars

2011-06-07T19:41:00.000-07:00

Reduce Your Insurance to Save Hundreds of dollars

Yeah, I really want to do that, reducing insurance to $ave hundreds of $...

Car Insurance in NY is getting very expensive. Most families in NY have 3-4 Drivers on their NY Car Insurance Premiums run very high. You can reduce your NY Car Insurance and save hundreds of dollars a year for up to three years by taking a NY Car Insurance Reduction Course Online from home.

How to do that, check out the video below:

All About Insurance: Travel Insurance: The Truth About Travel Insurance

2011-05-18T21:57:00.000-07:00

As you may already know:

- What is Insurance?

- About history of Insurance...

- Types of Insurance...

And here, this post you will know about The Truth About Travel Insurance. When you travel anywhere with any company. You should consider that does the company have travel insurance or not? If it does, the company is the best choice for you to choose as your best travel agency. If you plan to visit Cambodia and would like to find travel agencies or tour operators, you can see here...Top 30 Travel Agencies and Tour Operators in Cambodia...

All About Insurance: Travel Insurance

So, getting insurance while you're traveling, its' very good for you to get your life safe. So, let find the truth about travel insurance below:

*** The Truth About Travel Insurance:

Don't cross travel insurance off your checklist just yet. Many travelers think that they don't need to buy insurance if they have a credit card or other health coverage but would be surprised to learn how little these actually cover...More details about Travel Insurance...

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All About Insurance: What is the Core System of Insurance?

2011-02-11T01:28:00.000-08:00

What is the Core System of Insurance?

What is Core System of Insurance?

As I already posted about Insurance:

Insurance, as my thought, is the act of insuring property, life, one's person, etc., against loss or harm happening in specified activities of daily life as acident, health, death or in consideration of a payment proportionate to the risk involved.

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium...

Computer has its system, network also has system, even Insurance also has its system...

Everyone, do you know the core system of Insurance?

All About Insurance: Travel Insurance: 5 Tips For World Travel Insurance

2011-02-10T18:56:00.000-08:00

Travel Insurance: 5 Tips For World Travel Insurance

Make intelligent travel insurance choices before you even think of boarding a plane.

World Travel Insurance

1. You're taking a serious risk traveling without travel health and accident insurance

Check with your health insurer to see what is covered before you go.

Many private health insurance plans limit overseas coverage to emergencies.

It can be your responsibility to prove the emergency.

2. Medical evacuation coverage is essential

Check the limits of your emergency medical evacuation coverage.

Typical health insurance policies cap emergency transportation between $500 and $1,000,
Medical evacuation coverage can reach as high as $50,000.

3. Always protect yourself from the unexpected

Traveling when you're sick is no fun at all.

Too ill to travel? Trip-cancellation insurance can cover nonrefundable costs for the trip.

4. Terrorism coverage may be a wise buy

Most travel insurance policies now include acts of terrorism in cancelation policies.

These types of policies reimburse you if you cancel or cut short a trip due to an act of terrorism.

However, READ the policies. They vary widely by company.

5. Other travel insurance services could come in handy

Many travel insurers also offer a host of other helpful services.

Replace lost travel documents, passports, provide translation services, assist in money transfers, etc.

For more details about the World Travel Insurance, You can watch the video below:

All About Insurance: Why Should You Get Life Insurance?

2011-01-09T00:38:00.000-08:00

Why Should You Get Life Insurance?

Everything in life is uncertain that people should prepare for any eventuality. In fact, the only things certain in life are taxes and death. One or both of these things are bound to happen at some point in a persons life.

All About Insurance: Ensure your Life Now

2011-01-09T00:29:00.000-08:00

All About Insurance: Ensure your Life Now

Based on Wikipedia: 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.

According to the video below: Life insurance is a type of insurance that pays a sum of money to the beneficiary of the insured person only if the premiums of insured are in progress. It works like all other insurance policies. In life insurance insured person ensures his life by paying a small amount of premium.

Which one is correct between the lie insurance definition...???

Insurance Agency Marketing for Free with Social Networking

2010-12-01T01:16:00.000-08:00

Insurance Agency Marketing for Free with Social Networking

Insurance Marketing tips, strategies, and secrets for property and casualty agents are taught by Nathan Salmon of Capital-Visions. Expert Marketing Strategies for insurance agents and marketers to get the best return on their investments. When looking at Advancing and Success Online you need an international organisation of insurance communications professionals who specialise in marketing, marketing communications and advertising. Nathan specialises in teaching insurance agents how to market effectively online so that they become the HUNTED instead of the HUNTER. Marketing of insurance products have become an important activity in the insurance business but not just physical products but also information products online. Insurance marketing is found both in the life insurance sector and also home insurance marketing niche. Includes sales and marketing ideas for property and casualty insurance professionals, and cross-selling tools but if you need the latest trends in technology like Social Media, Social Networking and Video Marketing you have definitely come to the right place. Nathan prides himself on keeping his content exclusive therefore some features are only available to premium subscribers. Most insurance marketing companies generally focus on the old school direct marketing strategies and don't allow you to stay ahead of the curve. Work with the insurance marketing company that gets results for your insurance agency but also Brands YOU as the expert. Our insurance search engine optimisation and marketing plans are bespoke and thorough and I would love to help you dominate your market. There is nothing better than a autopilot insurance marketing system that turns clients, patients, and customers into referral evangelists and nathan teaches you how to dominate with relationship marketing. Top insurance marketing tips can be found all throughout this channel but also be sure to contact us for a a FREE 1 on 1 Mastermind Direct Consultation. Never forget that you can market your insurance business without utilising a big chunk of your budget but by leveraging the most cost effective strategies online and by outsourcing and scaling them. The internet has affordable marketing tools you can use and at our website we show you how we leverage them to incredible effect so we get Free Leads and Traffic to chase us 24/7 even whilst we sleep. At Capital-Visions we specialise in generating thousands of affordable insurance referrals for agents but also showing you how to dominate your demographic area as the superior agent so you can get Insurance Marketing Leads for Free as well. Congratulations on finding the insurance sales and marketing tools to generate more leads, increase profits and strategies on how to better manage your agency. Life Insurance Marketing Expert nathan Salmon is ready and waiting to help you so your business can reach new levels. Insurance Marketing.

Best Explaination About Insurance

2010-09-26T22:01:00.000-07:00

This is a video lecture explaining about Insurance.

What I am very very interested in the video is the point that he explain about buying insurance.

Please watch the video below:

Insurance lecture

How the Progress Insurance Work?

2010-09-18T21:41:00.000-07:00

The video will explain you how the Progress Insurance work...:-)

Understanding About Secured Loan

2010-08-04T20:04:00.000-07:00

A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral — in the event that the borrower defaults, the creditor takes possession of the asset used as collateral and may sell it to regain some or all of the amount originally lent to the borrower, for example, foreclosure of a home.

From the creditor's perspective this is a category of debt in which a lender has been granted a portion of the bundle of rights to specified property. If the sale of the collateral does not raise enough money to pay off the debt, the creditor can often obtain a deficiency judgment against the borrower for the remaining amount. The opposite of secured debt/loan is unsecured debt, which is not connected to any specific piece of property and instead the creditor may only satisfy the debt against the borrower rather than the borrower's collateral and the borrower.

Purpose:

There are two purposes for a loan secured by debt. In the first purpose, by extending the loan through securing the debt, the creditor is relieved of most of the financial risks involved because it allows the creditor to take the property in the event that the debt is not properly repaid. In exchange, this permits the second purpose where the debtors may receive loans on more favorable terms than that available for unsecured debt, or to be extended credit under circumstances when credit under terms of unsecured debt would not be extended at all. The creditor may offer a loan with attractive interest rates and repayment periods for the secured debt.

Types:

* A mortgage loan is a secured loan in which the collateral is property, such as a home.
* A nonrecourse loan is a secured loan where the collateral is the only security or claim the creditor has against the borrower, and the creditor has no further recourse against the borrower for any deficiency remaining after foreclosure against the property.
* A foreclosure is a legal process in which mortgaged property is sold to pay the debt of the defaulting borrower.
* A repossession is a process in which property, such as a car, is taken back by the creditor when the borrower does not make payments due on the property. Depending on the jurisdiction, it may or may not require a court order.

How to create secured debt:

Debt can become secured by a contractual agreement, statutory lien, or judgment lien. Contractual agreements can be secured by either a Purchase Money Security Interest (PMSI) loan, where the creditor takes a security interest in the items purchased (i.e. vehicle, furniture, electronics); or, a Non-Purchase Money Security Interest (NPMSI) loan, where the creditor takes a security interest in items that the debtor already owns.

Health Insurance Coverage: The Primer One

2010-07-22T18:56:00.000-07:00

For this blog post, I found an interesting and useful article regarding Health Insurance, Health Insurance Coverage...It's the primer one!!!

How health insurance coverage it is???

Please read the article below:

Understanding Health Insurance Coverage: A Primer
by: Peter Lenkefi

Health Insurance Coverage: What are ‘Covered’ Services?
Health insurance coverage is a contract used to determine medical benefits that are covered, or not covered, between you and your insurance provider. The insurance company, based on a fee that you provide them on a regular basis, promises to pay health insurance coverage on certain items or benefits listed in that contract. These are called ‘covered’ services. ‘Covered’ services can include a wide variety of things, such as implements, prescriptions, services (such as massage), checkups, tests and/or research.

Your contract should also list all of the things NOT covered in your health insurance coverage – these are items or services that you will need to pay for out of your own pocket, should you require them.

Health Insurance Coverage: What is a Medical Necessity? How is this Different from Covered Services?
Just as it seems, a medical necessity is something that your health professional has deemed a required service/ item that will affect your health negatively should you decide not to purchase it. However, just because your doctor tells you something is a medical necessity does not mean your health insurance actually offers coverage for it.

Since insurance companies decide what health coverage they will and will not provide, you really have no leeway in this area.

Health Insurance Coverage: What Do I Do?
Most doctors try and keep themselves abreast as to what the major insurance companies do, and do not cover when it comes to health coverage. However, there are a LOT of plans out there, so this just isn’t enough. So how can you avoid any nasty surprises during an emergency?

Read your health insurance coverage. You’re better off knowing what your health insurance company will, and will not provide coverage for right off the bat. Then, if your doctor decides on a treatment plan that isn’t covered, you can ask for alternatives that may be.
If there are questions regarding your health insurance coverage, do not hesitate to contact the insurance company. Questions are good, and they expect them.

Health Insurance Coverage: What Do I Do if Something I Need Isn’t Covered?
The gross majority of what your doctor orders for you will be covered in your health insurance plan. If you do get a treatment or supply that isn’t covered, you can always challenge the health insurance coverage. You may not be the only one who requires the same type of service, benefit or item – so you’ll end up fighting not just for yourself, but for others in the same situation.

Ask your doctor for their side, and use this in your claim. It may not help in the end, but if your doctor is on your side, you may be able to convince the health insurance company that coverage is required.

About the author:
For more more information about health insurance coverage please visit http://www.1health-center.com/articles/Health-Insurance-Coverage.php

Top 10 Webistes for "Insurance Jobs"

2010-05-22T03:25:00.000-07:00

Are You Finding "Insurance Jobs"?

The following is just the recommended ten websites for review about Insurance Jobs that may help you to find the Insurance Jobs...

1.INSURANCE JOBS .com - claims adjusters sales underwriting ...
Insurance Jobs by Top Insurance Companies and Recruiters! Search Insurance Careers Submit Resume. Claims Jobs and Adjuster Jobs, actuarial, insurance sales, ...

2.GREAT Insurance Jobs! Thousands of high-quality insurance jobs.
Insurance Jobs. Further your insurance career -- Search thousands of high-quality insurance jobs from top insurance companies in the United States and ...

3.Insurance Jobs | Broking & claims jobs | Choose from 923 live ...
Search for your next job from 923 live vacancies, or upload your CV now and let employers find you.

4.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 ...

5.Insurance Jobs | Insurance Job, Insurance Employment, Insurance ...
Ultimate Insurance Jobs specializes in insurance jobs, insurance employment, insurance positions, insurance careers and insurance opportunities.

6.General Insurance jobs, General Insurance careers & Recruitment at ...
Insurance jobs and careers at reed.co.uk. Find vacancies for actuaries, brokers, claims, underwriters, personal lines and other General Insurance roles. ...

7.The Premier Insurance Job Search website - Insurance Workforce
Insurance Workforce. Simply the best insurance job site since 2001, new jobs daily. Insurance Workforce lists 1000s of insurance jobs with free resume ...

8.Insurance Jobs | Indeed.com
Job search for 592543 Insurance Jobs at indeed.com. one search. all jobs.

9.Allstate Careers - Join the Allstate Community - Search Jobs or ...
Search Jobs and Apply - Your Future Awaits You! ... No insurance background or franchise fees required! women with calculator ...

10.Insurance Jobs, Insurance Careers, Insurance Employment and ...
Insurance Jobs and Insurance Careers. Looking for a job in the insurance field, then InsuranceWorks.ca is your source for insurance careers and insurance ...

Structured Settlements in the United States

2010-02-19T01:36:00.000-08:00

Structured Settlements in the United States

Have you ever wondered if what you know about Structured Settlements in the United States is accurate? Consider the following paragraphs and compare what you know to the latest info on Structured Settlements in the United States.

Truthfully, the only difference between you and Structured Settlements in the United States experts is time. If you'll invest a little more time in reading, you'll be that much nearer to expert status when it comes to Structured Settlements in the United States.

The United States has enacted structured settlement laws and regulations at both the federal and state levels. Federal structured settlement laws include sections of the (federal) Internal Revenue Code. State structured settlement laws include structured settlement protection statutes and periodic payment of judgment statutes. Medicaid and Medicare laws and regulations affect structured settlements. To preserve a claimant’s Medicare and Medicaid benefits, structured settlement payments may be incorporated into “Medicare Set Aside Arrangements” “Special Needs Trusts."

Structured settlements have been endorsed by many of the nation's largest disability rights organizations, including the American Association of People with Disabilities and the National Organization on Disability.

In April 2009, financial writer Suze Orman wrote in a column that structured settlements "provide ongoing income and reduce the risk of blowing a lump sum through poor financial choices." In response to a reader's question, she added that financial security can be improved "if you use the structured payouts wisely."

Knowing enough about Structured Settlements in the United States to make solid, informed choices cuts down on the fear factor. If you apply what you've just learned about Structured Settlements in the United States, you should have nothing to worry about.

Legal Structure of structured settlement

2010-02-19T01:15:00.000-08:00

Legal Structure of structured settlement

Do you ever feel like you know just enough about Legal Structure of structured settlement to be dangerous? Let's see if we can fill in some of the gaps with the latest info from Legal Structure of structured settlement experts.

Now that we've covered those aspects of Legal Structure of structured settlement, let's turn to some of the other factors that need to be considered.

The typical structured settlement arises and is structured as follows: An injured party (the claimant) settles a tort suit with the defendant (or its insurance carrier) pursuant to a settlement agreement that provides that, in exchange for the claimant's securing the dismissal of the lawsuit, the defendant (or, more commonly, its insurer) agrees to make a series of periodic payments over time. The defendant, or the property/casualty insurance company, thus finds itself with a long-term payment obligation to the claimant. To fund this obligation, the property/casualty insurer generally takes one of two typical approaches: It either purchases an annuity from a life insurance company (an arrangement called a "buy and hold" case) or it assigns (or, more properly, delegates) its periodic payment obligation to a third party ("assigned case") which in turn purchases a "qualified funding asset" to finance the assigned periodic payment obligation. Pursuant to IRC 130(d) a "qualified funding asset" may be an annuity or an obligation of the United States government.

In an unassigned case, the defendant or property/casualty insurer retains the periodic payment obligation and funds it by purchasing an annuity from a life insurance company, thereby offsetting its obligation with a matching asset. The payment stream purchased under the annuity matches exactly, in timing and amounts, the periodic payments agreed to in the settlement agreement. The defendant or property/casualty company owns the annuity and names the claimant as the payee under the annuity, thereby directing the annuity issuer to send payments directly to the claimant. If any of the periodic payments are life-contingent (i.e., the obligation to make a payment is contingent on someone continuing to be alive), then the claimant (or whoever is determined to be the measuring life) is named as the annuitant or measuring life under the annuity.

In an assigned case, the defendant or property/casualty company does not wish to retain the long-term periodic payment obligation on its books. Accordingly, the defendant or property/casualty insurer transfers the obligation, through a legal device called a qualified assignment, to a third party. The third party, called an assignment company, will require the defendant or property/casualty company to pay it an amount sufficient to enable it to buy an annuity that will fund its newly accepted periodic payment obligation. If the claimant consents to the transfer of the periodic payment obligation (either in the settlement agreement or, failing that, in a special form of qualified assignment known as a qualified assignment and release), the defendant and/or its property/casualty company has no further liability to make the periodic payments. This method of substituting the obligor is desirable for defendants or property/casualty companies that do not want to retain the periodic payment obligation on their books. A qualified assignment is also advantageous for the claimant as it will not have to rely on the continued credit of the defendant or property/casualty company as a general creditor. Typically, an assignment company is an affiliate of the life insurance company from which the annuity is purchased.

An assignment is said to be "qualified" if it satisfies the criteria set forth in Internal Revenue Code Section 130. Qualification of the assignment is important to assignment companies because without it the amount they receive to induce them to accept periodic payment obligations would be considered income for federal income tax purposes. If an assignment qualifies under Section 130, however, the amount received is excluded from the income of the assignment company. This provision of the tax code was enacted to encourage assigned cases; without it, assignment companies would owe federal income taxes but would typically have no source from which to make the payments.

To comply with the provisions of IRC 130, periodic payments generally cannot be accelerated, increased, decreased, etc. The rights to receive structured settlement payment rights may be transferred (see structured settlement factoring transaction).

Now you can understand why there's a growing interest in Legal Structure of structured settlement. When people start looking for more information about Legal Structure of structured settlement, you'll be in a position to meet their needs.

Definitions of structured settlement

2010-02-19T00:49:00.000-08:00

Definitions of structured settlement

The following article includes pertinent information that may cause you to reconsider what you thought you understood. The most important thing is to study with an open mind and be willing to revise your understanding if necessary.

See how much you can learn about Definitions structured settlement when you take a little time to read a well-researched article? Don't miss out on the rest of this great information.

A definition of “structured settlement” can be found in Internal Revenue Code Section 5891(c)(1) (26 U.S.C. § 5891(c)(1)), which states that a structured settlement is an "arrangement" that meets the following requirements:

=>A structured settlement must be established by:
===>A suit or agreement for periodic payment of damages excludable from gross income under Internal Revenue Code Section 104(a)(2) (26 U.S.C. § 104(a)(2)); or
===>An agreement for the periodic payment of compensation under any workers’ compensation law excludable under Internal Revenue Code Section 104(a)(1) (26 U.S.C. § 104(a)(1)); and

=>The periodic payments must be of the character described in subparagraphs (A) and (B) of Internal Revenue Code Section 130(c)(2) (26 U.S.C. § 130(c)(2))) and must be payable by a person who:
===>Is a party to the suit or agreement or to a workers' compensation claim; or
===>By a person who has assumed the liability for such periodic payments under a qualified assignment in accordance with Internal Revenue Code Section 130 (26 U.S.C. § 130).

It is important to note that the language immediately prior to Internal Revenue Code Section 5891(c)(1) states that the definition that appears there is "for the purposes of this section". Internal Revenue Code Section 5891 entitled "Structured Settlement Factoring Transactions" deals with the excise tax imposed on the "factoring discount" (see IRC 5891(c)(4)), when there is a purchase of structured settlement payment rights and the exceptions to the excise tax. A number of structured settlement industry commentators have been observed attempting to broaden the express language that appears in the Internal Revenue Code.

Hopefully the sections above have contributed to your understanding of Definitions structured settlement. Share your new understanding about Definitions structured settlement with others. They'll thank you for it.

What is Structured Settlement?

2010-02-19T00:14:00.000-08:00

Would you like to find out what those-in-the-know have to say about structured settlement?

The information in the article below comes straight from well-informed experts with special knowledge about structured settlement.

Once you begin to move beyond basic background information, you begin to realize that there's more to structured settlement than you may have first thought.

A structured settlement is a financial or insurance arrangement, including periodic payments, that a claimant accepts to resolve a personal injury tort claim or to compromise a statutory periodic payment obligation. Structured settlements were first utilized in Canada and the United States during the 1970s as an alternative to lump sum settlements. Structured settlements are now part of the statutory tort law of several common law countries including Australia, Canada, England and the United States. Although some uniformity exists, each of these countries has its own definitions, rules and standards for structured settlements. Structured settlements may include income tax and spendthrift requirements as well as benefits. Structured settlement payments are sometimes called “periodic payments.” A structured settlement incorporated into a trial judgment is called a “periodic payment judgment."

The day will come when you can use something you read about here to have a beneficial impact. Then you'll be glad you took the time to learn more about structured settlement.

Top 111 Insurance Twitter Users You Should Follow

2009-07-17T13:09:00.000-07:00

1. @timjennion : Insurance Consultant to the stars, Former Golf Professional and jolly nice chap!

2. @medicalneeds : Why is insurance such an important aspect of health care? How Does Insurance help to cover the expenses? What’s the best way to anticipate medical needs?

3. @larsonllc : Insurance and Financial Services Specialist, love to help and meet new people...

4. @RealEstate__ : Real Estate Networking Community

5. @BillBateman1 : Insurance wholesaler - Dad - husband - Networker - Internet wanna be

6. @agentbuilder : We are the leader in Helping insurance agents significantly grow their book of business,

7. @ChuckRoberson : 1. Dad. 2.Online Health Insurance Agent. For a Health & Life Insurance Quote please visit http://A1insurance.mynetquotes.com Thank You

8. @nadeemd : An entrepreneur who happens 2 be in insurance biz. Certified Twitter & FB addict. Love photography, country music & Travel. Die hard Jim Rohn fan.

9. @ciricillo : Business Strategy, Development Services, Right-Size and Change Management Consulting, Interim Executive Fulfillment

10. @ka8lhi : Learning to become a Virtual Bankruptcy Assistant.

11. @Mallikarjunan : Co-Founder and Chief Marketing Officer of American Health, LLC. Changing the way people view health & insurance. Safeguard Your Health!

12. @STATEFARM_SUCKS : This info is for CONSUMERS ONLY. If you are a State Farm Employee, please do not follow me. Thanks! Angela

13. @leereed : Passionate about helping seniors finish strong.

14. @PreferredHealth : As a professional insurance agent. I can offer my valuable expertise in the health insurance industry.

15. @AnnuityMaven : Annuity Marketing Specialist,Fixed Annuities, Building Relationships with Financial Planners and Insurance Agents.Need help?

16. @GoDominique : Financial Consultant, Tax Strategist, Marketing Consultant, and CEO of Ms Nique Enterprises

17. @MichaelFry : Christian,beautiful wife,3 great kids! Retirement-Ins. Planner-helping people protect & grow their money(even in these crazy times)helping SpecialNeeds fami

18. @rickjmiv : Marketing/social media, strategist, adviser, presenter, facilitator for insurance industry. Travel backroads of US in our RV with wife JoAnne and dog Sandy.

19. @simplybusiness : Business tips, guides, quotes, and links to other useful stuff we like. We also sell business insurance.

20. @MattWalkerAus : Self employed Finance Broker. I have been in the Finance Industry for the past 27 years. If you have any Finance needs just ask

21. @Jeff_Johnson : Risk management professional, property and casualty insurance broker, golfer who likes to run siberian huskies in the desert

22. @Craigoldham : dad, marketer and enthused about tech

23. @krisbergmann : An employee benefits agent with a wide array of interests including insurance, wellness, entrepreneurship, personality, and tech

24. @InsWeb : Anything and everything insurance from the editors at InsWeb.com--news, research, tips and more.

25. @Slavsky : Hi, I'm Slava Hreski, owner of Slavsky Insurance and Mortgage and 800-insurance.com. I save people' money on insurance and mortgage in California. FHA Approved.

26. @AngieFisher : WAHM providing healthcare alternatives to the uninsured~putting health and families first!

27. @lowratesearch : I'm the founder of LowRateSearch.com. I help people find low rates and make make informed choices about loans, credit, debt, insurance, and travel. I work hard.

28. @carsomething : http://www.carsomething.com/

29. @davidsthompson : Guaranteed Health Insurance, HIPAA Compliant.

30. @insuresuite : I'm a marketer learning the new ways to use social marketing...

31. @laurabennett : entrepreneur, mother of 2, pet insurance actuary, CEO and co-founder of Embrace Pet Insurance

32. @RainbowGroup : We supply the cheapest loans, insurance and mortgages as well as the latest financial news.

33. @PaulTTran : Wealth/Business Advisor - Private Equity Franchise Developer - Had successful pop singing career until the karaoke machine broke - And I care about people a lot

34. @LoriWidmer : Phenomenal writing talent - itty bitty twitting space. Risk Management, Insurance writing geek.

35. @DarrenTMH : Active in UK Financial Services, tweeting about insurance, credit and debt issues mainly but also some tech and marketing stuff

36. @robinkemp : Entrepreneur x's 2, Life/Health/Disability/LTC/Voluntary Benefits specialist, Wife, Mom

37. @MohamadHafeez : Want to share everything that i learn from this beautiful world, Big vision with big passion to success!

38. @lperroots : http://www.perroots.com/

39. @autoclaim : Looking to help consumers stand up for their rights in car accidents, bodily injury claims, settling their total losses, and more. Hector Quiroga.

40. @SteveTN : Insurance Technology Guru, Husband, Father of 2, Hobby Chef and Private Pilot.

41. @pamos_19 : Creativity Enthusiast and Innovation Advocate

42. @Viaticals : Full service life settlement and viatical settlement company providing services to senior policyholders, financial professionals, and the terminally ill.

43. @marciahansen : Marcia is a marketing manager at Allstate responsible for social media strategy and project management. She also tweets @allstate

44. @fbd_ie : Brendan from FBD Insurance - for all your car, home, business and farm cover.

45. @InsureMe_ : InsureMe is a free service that helps people find the most competitive insurance rates available.

46. @pilot_insurance : Aviation enthusiast. Financial Adviser (Aviation Insurance Specialist). PERSONAL INSURANCE SOLUTIONS for Airline Pilots. My own thoughts, not those of QANTAS.

47. @jmsacman : Insurance professional exploring social media outlets, small biz, yelper, catholic youth minister, choir member

48. @GanisConsulting : We Specialize in Consulting, Acquisitions Brokering and Operations Training for Independent Insurance Agencies throughout the US.

49. @CenturyFinance : Dad - Huband - Insurance Man - serial entrepreneur - recruiter for God

50. @merlebowers : Christian, Husband, Father, Teacher, Eagle Scout, Scout Leader, Conservative, Insurance(pest control, pharmacy and arch/engrs), Pro-Business, Student of life.

51. @BadFaithClaim : Help And Information - For When GOOD FAITH Is IGNORED By Your Home / Property Insurance Company And You Are Offered ONLY BAD FAITH! - http://bit.ly/bfblog

52. @Tm_clark : Giving out insurance advice, fitness enthusiast, free spirit.

53. @EatonCompliance : Eaton Compliance Solutions, Inc. We provide insurance product filing, producer/entity licensing, regulatory tracking consulting services.

54. @AIGHawaii : AIG Hawaii has been here for over 50 years. We are committed to supporting and sustaining our community and we invite you to participate, too.

55. @NibbyP : Technology Savy, Independent Insurance Agent, Athletic, Bicyclist, Dolly Parton groupie, iPhone User, pianist, organist, hymnology, Christ follower- Loving Life

56. @halbeatty : Ontario Insurance Broker, CEO Blue Sky Financial Group, CA and Alpaca Farmer

57. @bupamedical : World Class Medical Insurance Specialist | Health Advisor | Claims Specialist

58. @royamura : Insurance coverage & fraud lawyer, blogger, linguaphile, and wannabe professional angler

59. @ShannonHarvey : Helping families protect their automobiles and homes in Greenville, SC.

60. @JaneBondInsAgcy : All Surety Bonds | Event Insurance

61. @thechrisjordan : Host of Atlanta Insurance Live, Entrepreneur, Husband, Father (soon!), and Auburn Tiger. Looking to connect with like-minded folks. Thanks for stoppin' by!

62. @hmriskgroup : International Insurance Broker, Blogger, Marketing Addict, Violinist and Rebel!

63. @siegelagency : Insurance & Risk Management for Social Service & Nonprofits: Headstart, Home Healthcare, Behavioral Health, Developmental Disabilities. 800.622.8272

64. @blueskyprez : Ontario Insurance Brokerage hoping to provide helpful advice and assistance. How can we help?

65. @acyva : Affordable, top-quality international insurance for expatriates, digital nomads, globe trotters and more. Travelling along with you to keep you safe + happy.

66. @Barhorst_Insura : Experienced insurance services for our clients in the greater Houston area and throughout Texas with 29 locations

67. @ACORD_Forms : Online ACORD Forms

68. @RiskMgmt : Editor of Risk Management magazine

69. @KFSA : Insurance * Risk Management * Corporate Services

70. @JoeNeedsDental : Dental benefits fanatic, non-profit employee, overall tech and design geek that likes helping folks.

71. @Coverzones : We're an impartial price comparison site for business insurance. We let SMEs, sole traders and tradesmen find, buy and manage the best value policies online.

72. @insurancecvg : Corporate insurance coverage and recovery information

73. @obobME : Part-time bike commuting, dog-loving, RSN card-carrying, tuition-poor husband, dad, Mac fan, neighborhood inactivist and insurance guy.

74. @incomeprotect : Assisting professionals in securing disability policies, licensed in 50 states and DC. Represents top companies and is a preferred broker with several of them.

75. @Insurancedude : Husband, dad, insurance agent, baseball fan, tech geek. Also see @thdf for Torian Insurance account.

76. @PDXAllstater : Sales leader@Allstate. We're always recruiting for entrepreneurial individuals to represent our company as Allstate Exclusive Agents & Personal Financial R

77. @alasdairt : Digital PR fellow at Diffusion. Cricket and piano devotee. Guilty smoker.

78. @ISABrokers : Insurance Services of America is the nationwide independent leader of short-term health, international health, global life and travel insurance.

79. @MikeStromsoe : Always Thinking Bigger Than One Thought Possible.Our Total Protection Team Protects Families and Businesses So They Do Not Lose Everything They Work So Hard For

80. @Penteco : PENTECO-family-owned, full-service Financial Planning and Insurance firm. Auto, Home, Business,Travel, Life, Annuities & More!

81. @Arrebaba : I'm provide sufficient great articles information about Insurance and Home Equity Loan.

82. @AlbanyInsurance : NYS licensed insurance broker specializing in business and property owner insurance programs.

83. @FBAdvantage : Matt Smith of Virginia Farm Bureau Insurance.

84. @jasonarmishaw : Connecting people, building friendships and helping young families and business owners protect and insure their future!

85. @AAACarolinas : Official Twitter account of AAA Carolinas - serving the Carolinas since 1922

86. @InsuranceJobs : InsuranceJobsBoard.com, Founder General Insurance, Life, pension, investment ,IFA , FS, banking jobs

87. @BenefitsOntario : Ontario's Benefit Plans and Travel Insurance Experts! 1-866-856-6799

88. @khclarkson : People, knowledge, leadership, listening, team building and understanding, that's what I strive to do.

89. @NJ_Insurance : Premier Provider of car, home, business insurance in New Jersey.

90. @SafeAuto : Official SafeAuto twitter page

91. @BlueMartin : 发起中国第一家互联网寿险公司。Trying to start the first internet life insurance company in China.help me

92. @IVANSinc : Provider of specialized consulting, network and software solutions to accelerate property-casualty insurance, healthcare, Medicare and retail data communication

93. @HillsdaleSam : Obsessed Advocate of defensive financial strategies. Long Term Care Insurance specialist. Dad. Little League manager. Follower of Jesus. Frequently distracted.

94. @1stplacemployer : PEO Brokerage offering a broad range of administrative services. Taking the burden off your shoulders and let you concentrate on what is most important: growing

95. @TravelersIE : Irish subsidiary of Travelers Insurance Company (NYSE:TRV).

96. @kevinlacroix : Kevin is an attorney and a partner is OakBridge Insurance Services, an insurance intermediary focused on management liability insurance.

97. @jenij7 : ME!! It's about me and whatever I want. I'm a Farmers Agent with JP Kesselring's Agency. I want to work with small businesses and non-profit organizations.

98. @goinsurancerate

99. @pksproperty : Mortgages, insurance, debt solutions, overseas property plus lots more. See our website.

100. @DavidWorsfold : Financial journalist now in editorial management at Incisive Media. I have a blog about politics and financial services

101. @insurance_news : V Insure - Your online resource for Insurance Industry News and Insurance Related Blogs.

102. @ohwalkerins : Est. in 1962, we are a family owned & operated Independent Ins. Agency in Charlotte. Call us at 704.814.4343 for all your Insurance needs!

103.@larsoninsurance : insurance agent you can trust

104. @insurance : Insurance Talk

105. @TrinityIns : Hi, I'm Ron Bohning a Licensed Health Ins Broker - Use my no hassle website to compare rates instantly and save! Outside CO & OH use http://tinyurl.com/hlthins

106. @CheapCarInsure : Lowest Car Insurance Rates.. Come see..Quotes are Free.

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108. @Insurancebiz : We Run Our Own Insurance Franchise. Finally A Way To Help People And Make Money At The Same Time. Win/Win Only Here! Join Us Today And Reap The Rewards.

109. @StateFarmIns : State Farm helps people manage the risks of everyday life, recover from the unexpected & realize their dreams, through our many insurance & bank services.

110. @SGVAutoIns : Online auto insurance quotes. Save money by comparing quotes from top leading companies! We want to help you save on your auto insurance.

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Everything You Need To Know About Budget Car Insurance

2009-06-30T14:02:00.000-07:00

In my previous post about how to get the cheapest car insurance quote, today with this post I'd to introduce you an interesting article from articlesbase.com with the title "Everything You Need To Know About Budget Car Insurance". Please continue reading the article below:

Author: Alien

For rich people the cost of car insurance doesn’t matter but budget car insurance is considered to be attractive and essential. Although it can be seen that many car insurance companies are offering budget car insurance but in reality it’s very difficult to find one. A car insurance comparison website can be used to compare insurance coverage provided by different companies. It just requires your little time and effort to find the best deal.

Avoid buying number of insurance and you’ll see that your monthly expenditure will automatically get reduced. The insurance offered by many companies include three types of cover: third party (TP), third party fire and theft (TPF&T) and fully comprehensive (FC).

TP insurance provides cover to the claimer when third party may have suffered cost or injury as a result of an accident. According to law, in most countries, every car owner must have this insurance. This insurance does not cover for the damaged vehicle.

TPF&T insurance covers the third party against the risks involved in case of theft of the vehicle or damage by fire plus the above mentioned risk.

FC cover will cover third party against everything mentioned above plus in case of damage to vehicles such as bodyworks, dents, etc.

Cost can also be reduced by selecting a lower cover but take into account the risk factors associated with it.

If the customer agrees to reduce some of its requirement then some insurance companies may offer car insurance at low price. Almost every insurance policies carry what’s called excess. Excess is the amount that you pay in order to hold the insurance policy. A company may offer cover at low price if the policy holder accepts to have a higher level of excess in comparison to what is set by the insurer.

It is always better to look for a policy that offers flexibility. The reason for this is there are some parts of vehicle which are more prone to get damage than other parts .For example wheels, windows and roof areas. Some policies may exclude these, some may include them and some may offer cost reduction on these parts.

So the final conclusion is that always compare insurance policy offered by different companies. Though, it is a common practice that the insurance provider will provide you with full coverage plan as start point.

About the Author:

Get answer to all of your auto insurance questions and obtain free car insurance quotes online.

Article Source: ArticlesBase.com - Everything You Need To Know About Budget Car Insurance

Three ideas on how to get the Cheapest Car Insurance Quote

2009-06-15T12:52:00.000-07:00

In my previous post about Car Insurance, today, with this post please find out with me more about how to get the cheapest car insurance.

If you have a car, the big deal is that you need your car to be insured with a cheapest insurance quote.

In general, the price of your car insurance quote depends on various factors like, cost of the car, ownership of the car, security features available in the car and the type of insurance cover required by the car owner.

So, How to get the cheapest quote on your car insurance?

The following points are just 3 ideas related to how to get the cheapest car insurance quote:

1. Security features:

You can get the cheapest car insurance if you are the only owner and driver of your car or if your car has some security features. This gives a sense of security to the insurance company that your car is safe and is less likely to be stolen or met with an accident.

2. Car insurance companies:

Nowadays, there are a number of car insurance companies available in the market that claim to offer the cheapest car insurance. Doing comparison of the insurance prices between the companies is the best choice to get the cheapest insurance.

3. Insurance broker:

If you want to get the cheapest car insurance, the best way is to take the services of a car insurance broker. They can help you get the car insurance as per your needs and budget, also they will ensure that you get the maximum coverage in case of any loss to your car. This is possible because the car insurance broker is able to compare different car insurance deals available in the market.

They are not enticed by the cheapest car insurance offers of other insurance companies. Rather, they will go in detail about the terms and conditions of the cheap insurance. With the help of their adequate knowledge, they are able to advise you which type of car insurance cover is right for you. Depending on that, you can decide whether you should go for the Third Party car insurance, the Third Party Fire and Theft or the Fully Comprehensive car insurance.

If you have more ideas about the way to get the cheapest car insurance, please leave your comment below, thanks!

Car Insurance

2009-05-11T12:39:00.000-07:00

Do you have a car?

If the answer is "YES", that means you really want your car to be insured. Well, Car Insurance, also known as Auto Insurance, Vehicle Insurance or Motor Insurance, is a kind of Insurance purchased by consumers for cars, trucks, and other vehicles that consumers owned. With Car Insurance, it's primary use is to ensure or to provide protection against losses incurred as a result of traffic accidents, theft, fire damage and against liability that could be incurred in an accident and many other factors.

Now, please take a look at some countries like:

- United States: In the United States, Auto Insurance covering liability for injuries and property damage done to others is compulsory in most states, though enforcement of the requirement varies from state to state. The state of New Hampshire, for example, does not require motorists to carry liability insurance (the ballpark model), while in Virginia residents must pay the state a $500 annual fee per vehicle if they choose not to buy liability insurance.

- United Kingdom: The minimum level of insurance cover commonly available and which satisfies the requirement of the act is called third party only insurance. The level of cover provided by Third party only insurance is basic but does exceed the requirements of the act. The act requires that motorists either be insured, have a security, or have made a specified deposit ( £500,000 as of 1991) with the Accountant General of the Supreme Court, against their liability for injuries to others (including passengers) and for damage to other persons' property resulting from use of a vehicle on a public road or in other public places.

- Canada: Basic auto insurance is mandatory throughout Canada with each province's government determining which benefits are included as minimum required auto insurance coverage and which benefits are options available for those seeking additional coverage. Accident benefits coverage is mandatory everywhere except for Newfoundland and Labrador.

Why The Consumers need to buy Insurance Premium?

Well, depending on the jurisdiction, the insurance premium can be either mandated by the government or determined by the insurance company in accordance to a framework of regulations set by the government. Often, the insurer will have more freedom to set the price on physical damage coverages than on mandatory liability coverages. When the premium is not mandated by the government, it is usually derived from the calculations of an actuary based on statistical data. The premium can vary depending on many factors that are believed to have an impact on the expected cost of future claims including the car characteristics, the coverage selected ( deductible, limit, covered perils), the profile of the driver ( age, gender, driving history) and the usage of the car (commute to work or not, predicted annual distance driven).

What are the Types of coverage of car insurance?

Car Insurance can include coverage like:

• Liability insurance

• Collision coverage

• Comprehensive coverage

• Uninsured/Underinsured

• Loss of Use coverage

• Car towing coverage

• The insured party coverage

• The insured vehicle coverage

•Third parties (car and people) coverage

Where to buy Car Insurance?

There are lots of car insurance companies around the world. Some of them are:

• GEICO Car Insurance:Go to www.geico.com

• ICICI Lombard Car Insurance: www.icicilombard.com

• Churchill: www.churchill.com

• Amica Insurance: www.amica.com

• PEMCO Insurance: www.pemco.com

And many other companies...

About Credit Insurance

2009-04-30T11:33:00.000-07:00

CREDIT INSURANCE

Credit insurance is a term used to describe both trade credit insurance and credit life insurance.

Credit life insurance is a consumer purchase, often sold with a big ticket purchase such as an automobile. The insurance will pay off the loan balance in the event of the death or the disability of the borrower. Although purchased by the consumer/borrower, the benefit payment goes to the company financing the purchase to satisfy a debt.

Credit insurance or trade credit insurance (also known as business credit insurance) is an insurance policy and risk management product that covers the payment risk resulting from the delivery of goods or services. Credit insurance usually covers a portfolio of buyers and pays an agreed percentage of an invoice or receivable that remains unpaid as a result of protracted default, insolvency or bankruptcy. Trade credit insurance is purchased by business entities to insure their accounts receivable from loss due to the insolvency of the debtors. This product is not available to private individuals.

Credit insurance insures the payment risk of companies, not of private individuals. Policy holders require a credit limit on each of their buyers for the sales to that buyer to be insured. The premium rate is usually low and reflects the average credit risk of the insured portfolio of buyers.

In addition, credit insurance can also cover single transactions or trade with only one buyer.

About Liability insurance

2009-04-30T11:30:00.000-07:00

LIABILITY INSURANCE?

Liability insurance is a part of the general insurance system of risk financing. Originally, individuals or companies that faced a common peril, formed a group and created a self-help fund out of which to pay compensation should any member incur loss. The modern system relies on dedicated carriers to offer protection against specified perils in consideration of a premium. Liability insurance is designed to offer specific protection against third party claims, i.e., payment is not typically made to the insured, but rather to someone suffering loss who is not a party to the insurance contract. In general, damage caused intentionally and contractual liability are not covered under liability insurance policies. When a claim is made, the insurance carrier has the right to defend the insured. The legal costs of a defense are not always affected by any policy limits, which is useful because they can be significant where long trials are held to determine either fault or the amount of damages.

Liability insurance is a very broad superset that covers legal claims against the insured. Many types of insurance include an aspect of liability coverage. For example, a homeowner's insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies against the harm that a crashing car can cause to others' lives, health, or property. The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict. Liability policies typically cover only the negligence of the insured, and will not apply to results of wilful or intentional acts by the insured.

About Property Insurance

2009-04-25T14:55:00.000-07:00

PROPERTY INSURANCE???

As you know your home, your apartment, your business's building , accounts-receivable records, furniture, machinery, inventory, supplies and even intangible assets such as trademarks, when they are damaged, theft or loss occurs, they need insurance, so property insurance is covered on those things.

While Life insurance refers to 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.

Property insurance also 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.

Life insurance

2009-04-17T11:03:00.000-07:00

After my previous post about casualty insurance, today I want to show you about what Life insurance is.

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.

The value for the policyholder is derived, not from an actual claim event, rather it is the value derived from the 'peace of mind' experienced by the policyholder, due to the negating of adverse financial consequences caused by the death of the Life Assured.

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.

Casualty insurance

2009-04-08T11:05:00.000-07:00

Casualty insurance is a problematically defined term loosely used to describe an area of insurance not particularly or directly concerned with life insurance, health insurance, or property insurance. It is sometimes equated to liability insurance, and is mainly used to describe the liability coverage of an individual or organization's for negligent acts or omissions. However, the "elastic" term has also been used to describe property insurance for aviation insurance, boiler and machinery insurance, and glass and crime insurance. It may include marine insurance for shipwrecks or losses at sea or fidelity and surety insurance. It may also include earthquake, political risk insurance, terrorism insurance, fidelity and surety bonds.

Disability insurance

2009-04-05T10:07:00.000-07:00

After the previous post about Health Insurance, Today, I would like to introduce to you about Disability Insurance.

Disability insurance, often called disability income insurance, is a form of insurance that insures the beneficiary's earned income against the risk that disability will make working (and therefore earning) impossible.
Disability insurance policies provide financial support in the event the policyholder is unable to work because of disabling illness or injury. It provides monthly support to help pay such obligations as mortgages and credit cards.

Disability overhead insurance allows business owners to cover the overhead expenses of their business while they are unable to work. Business overhead expense (BOE) disability insurance pays the insured’s business overhead expenses if he or she becomes disabled. A BOE policy pays a monthly benefit based on actual expenses, not anticipated profits. It is designed for businesses that rely on a small number of people (or one person) to produce revenue.

Total permanent disability insurance provides benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance.Total Permanent Disability (TPD) is a phrase used in the insurance industry and in law. Generally speaking, it means that because of a sickness or injury, a person is unable to work in their own or any occupation for which they are suited by training, education, or experience. An individual or group of individuals can insure themselves against it through a disability insurance policy, as part of a life insurance package or through worker's compensation insurance.

Workers' compensation insurance replaces all or part of a worker's wages lost and accompanying medical expenses incurred because of a job-related injury. Workers compensation (colloquially known as workers' comp in North America or compo in Australia) is a form of insurance that provides compensation medical care for employees who are injured in the course of employment, in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.

Health insurance

2009-03-29T23:16:00.000-07:00

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.

A health insurance policy is a contract between an insurance company and an individual or his sponsor (e.g. an employer). The contract can be renewable annually or monthly. The type and amount of health care costs that will be covered by the health insurance company are specified in advance, in the member contract or "Evidence of Coverage" booklet. The individual insurered person's obligations may take several forms.

Home Insurance (More)

2009-03-29T22:33:00.000-07:00

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 vacancy/non-occupancy, seasonal/secondary residence, or age. It is a multiple line insurance, meaning that it includes both property and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. Standard forms divide coverage into several categories, and the coverage provided is typically a percentage of Coverage A, which is coverage for the main dwelling.

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, 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.

Home insurance

2009-03-29T01:21:00.000-07:00

Home insurance provides compensation for damage or destruction of a home from disasters. In some geographical areas, the standard insurances excludes certain types of disasters, such as flood and earthquakes, that require additional coverage. Maintenance-related problems are the homeowners' responsibility. The policy may include inventory, or this can be bought as a separate policy, especially for people who rent housing. In some countries, insurers offer a package which may include liability and legal responsibility for injuries and property damage caused by members of the household, including pets.

Auto insurance

2009-03-29T01:05:00.000-07:00

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 countries 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.

In the United States, your insurance company should notify you by mail when it’s time to renew the policy and to pay your premium.

Types of insurance

2009-03-29T00:52:00.000-07:00

Any risk that can be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as "perils". An insurance policy will set out in detail which perils are covered by the policy and which are not. Below are (non-exhaustive) lists of the many different types of insurance that exist. A single policy may cover risks in one or more of the categories set out below. For example, auto insurance would typically cover both property risk (covering the risk of theft or damage to the car) and liability risk (covering legal claims from causing an accident). A homeowner's insurance policy in the U.S. typically includes property insurance covering damage to the home and the owner's belongings, liability insurance covering certain legal claims against the owner, and even a small amount of coverage for medical expenses of guests who are injured on the owner's property.

Business insurance can be any kind of insurance that protects businesses against risks. Some principal subtypes of business insurance are (a) the various kinds of professional liability insurance, also called professional indemnity insurance, which are discussed below under that name; and (b) the business owner's policy (BOP), which bundles into one policy many of the kinds of coverage that a business owner needs, in a way analogous to how homeowners insurance bundles the coverages that a homeowner needs.

The main insurance types are: Auto Insurance, Home Insurance, Health, Disability, Casualty, Life, Property, Liability, Credit and other types.

History of insurance-Modern health insurance

2009-03-28T14:32:00.000-07:00

Accident insurance was first offered in the United States by the Franklin Health Assurance Company of Massachusetts. This firm, founded in 1850, offered insurance against injuries arising from railroad and steamboat accidents. Sixty organizations were offering accident insurance in the US by 1866, but the industry consolidated rapidly soon thereafter. While there were earlier experiments, the origins of sickness coverage in the US effectively date from 1890. The first employer-sponsored group disability policy was issued in 1911.

Before the development of medical expense insurance, patients were expected to pay all other health care costs out of their own pockets, under what is known as the fee-for-service business model. During the middle to late 20th century, traditional disability insurance evolved into modern health insurance programs. Today, most comprehensive private health insurance programs cover the cost of routine, preventive, and emergency health care procedures, and also most prescription drugs, but this was not always the case.

Hospital and medical expense policies were introduced during the first half of the 20th century. During the 1920s, individual hospitals began offering services to individuals on a pre-paid basis, eventually leading to the development of Blue Cross organizations. The predecessors of today's Health Maintenance Organizations (HMOs) originated beginning in 1929, through the 1930s and on during World War II.

In the United States, regulation of the insurance industry is highly Balkanized, with primary responsibility assumed by individual state insurance departments. Whereas insurance markets have become centralized nationally and internationally, state insurance commissioners operate individually, though at times in concert through a national insurance commissioners' organization. In recent years, some have called for a dual state and federal regulatory system for insurance similar to that which oversees state banks and national banks.

History of insurance-Industrial revolution

2009-03-28T14:29:00.000-07:00

Benjamin Franklin helped to popularize and make standard the practice of insurance, particularly against fire in the form of perpetual insurance. In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses.

The sale of life insurance in the U.S. began in the late 1760s. The Presbyterian Synods in Philadelphia and New York created the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers in 1759; Episcopalian priests organized a similar fund in 1769. Between 1787 and 1837 more than two dozen life insurance companies were started, but fewer than half a dozen survived.

Prior to the American Civil War, many insurance companies in the United States insured the lives of slaves for their owners. In response to bills passed in California in 2001 and in Illinois in 2003, the companies have been required to search their records for such policies. New York Life for example reported that Nautilus sold 485 slaveholder life insurance policies during a two-year period in the 1840s; they added that their trustees voted to end the sale of such policies 15 years before the Emancipation Proclamation.

History of insurance-Early modern

2009-03-28T14:26:00.000-07:00

Separate insurance contracts (i.e., insurance policies not bundled with loans or other kinds of contracts) were invented in Genoa in the 14th century, as were insurance pools backed by pledges of landed estates. These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in marine insurance. Insurance became far more sophisticated in post-Renaissance Europe, and specialized varieties developed.

Toward the end of the seventeenth century, London's growing importance as a centre for trade increased demand for marine insurance. In the late 1680s, Mr. Edward Lloyd opened a coffee house that became a popular haunt of ship owners, merchants, and ships’ captains, and thereby a reliable source of the latest shipping news. It became the meeting place for parties wishing to insure cargoes and ships, and those willing to underwrite such ventures. Today, Lloyd's of London remains the leading market (note that it is not an insurance company) for marine and other specialist types of insurance, but it works rather differently than the more familiar kinds of insurance.

Insurance as we know it today can be traced to the Great Fire of London, which in 1666 devoured 13,200 houses. In the aftermath of this disaster, Nicholas Barbon opened an office to insure buildings. In 1680, he established England's first fire insurance company, "The Fire Office," to insure brick and frame homes.

The concept of health insurance was proposed in 1694 by Hugh the Elder Chamberlen from the Peter Chamberlen family. In the late 19th century, "accident insurance" began to be available, which operated much like modern disability insurance. This payment model continued until the start of the 20th century in some jurisdictions (like California), where all laws regulating health insurance actually referred to disability insurance.

The first insurance company in the United States underwrote fire insurance and was formed in Charles Town (modern-day Charleston), South Carolina in 1732, but it provided only fire insurance.

History of insurance-Ancient world

2009-03-28T14:16:00.000-07:00

Turning to insurance in the modern sense (i.e., insurance in a modern money economy, in which insurance is part of the financial sphere), early methods of transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, respectively. Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen.

Achaemenian monarchs were the first to insure their people and made it official by registering the insuring process in governmental notary offices. The insurance tradition was performed each year in Nowruz (beginning of the Iranian New Year); the heads of different ethnic groups as well as others willing to take part, presented gifts to the monarch. The most important gift was presented during a special ceremony. When a gift was worth more than 10,000 Derrik (Achaemenian gold coin) the issue was registered in a special office. This was advantageous to those who presented such special gifts. For others, the presents were fairly assessed by the confidants of the court. Then the assessment was registered in special offices.

The purpose of registering was that whenever the person who presented the gift registered by the court was in trouble, the monarch and the court would help him. Jahez, a historian and writer, writes in one of his books on ancient Iran: Whenever the owner of the present is in trouble or wants to construct a building, set up a feast, have his children married, etc. the one in charge of this in the court would check the registration. If the registered amount exceeded 10,000 Derrik, he or she would receive an amount of twice as much.

A thousand years later, the inhabitants of Rhodes invented the concept of the 'general average'. Merchants whose goods were being shipped together would pay a proportionally divided premium which would be used to reimburse any merchant whose goods were jettisoned during storm or sinkage.

The Greeks and Romans introduced the origins of health and life insurance c. 600 AD when they organized guilds called "benevolent societies" which cared for the families and paid funeral expenses of members upon death. Guilds in the Middle Ages served a similar purpose. The Talmud deals with several aspects of insuring goods. Before insurance was established in the late 17th century, "friendly societies" existed in England, in which people donated amounts of money to a general sum that could be used for emergencies.

About History of insurance

2009-03-28T14:11:00.000-07:00

History of insurance refers to the development of a modern laws and market in insurance against risks. In some sense we can say that insurance appears simultaneously with the appearance of human society. We know of two types of economies in human societies: money economies (with markets, money, financial instruments and so on) and non-money or natural economies (without money, markets, financial instruments and so on). The second type is a more ancient form than the first. In such an economy and community, we can see insurance in the form of people helping each other. For example, if a house burns down, the members of the community help build a new one. Should the same thing happen to one's neighbour, the other neighbours must help. Otherwise, neighbours will not receive help in the future.

Principles of insurance

2009-03-27T02:08:00.000-07:00

Commercially insurable risks typically share seven common characteristics.

1.A large number of homogeneous exposure units. The vast majority of insurance policies are provided for individual members of very large classes. Automobile insurance, for example, covered about 175 million automobiles in the United States in 2004. The existence of a large number of homogeneous exposure units allows insurers to benefit from the so-called “law of large numbers,” which in effect states that as the number of exposure units increases, the actual results are increasingly likely to become close to expected results. There are exceptions to this criterion. Lloyd's of London is famous for insuring the life or health of actors, actresses and sports figures. Satellite Launch insurance covers events that are infrequent. Large commercial property policies may insure exceptional properties for which there are no ‘homogeneous’ exposure units. Despite failing on this criterion, many exposures like these are generally considered to be insurable.

2.Definite Loss. The event that gives rise to the loss that is subject to the insured, at least in principle, take place at a known time, in a known place, and from a known cause. The classic example is death of an insured person on a life insurance policy. Fire, automobile accidents, and worker injuries may all easily meet this criterion. Other types of losses may only be definite in theory. Occupational disease, for instance, may involve prolonged exposure to injurious conditions where no specific time, place or cause is identifiable. Ideally, the time, place and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements.

3.Accidental Loss. The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be ‘pure,’ in the sense that it results from an event for which there is only the opportunity for cost. Events that contain speculative elements, such as ordinary business risks, are generally not considered insurable.

4.Large Loss. The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. For small losses these latter costs may be several times the size of the expected cost of losses. There is little point in paying such costs unless the protection offered has real value to a buyer.

5.Affordable Premium. If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, it is not likely that anyone will buy insurance, even if on offer. Further, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer. If there is no such chance of loss, the transaction may have the form of insurance, but not the substance.

6.Calculable Loss. There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim.

7.Limited risk of catastrophically large losses. The essential risk is often aggregation. If the same event can cause losses to numerous policyholders of the same insurer, the ability of that insurer to issue policies becomes constrained, not by factors surrounding the individual characteristics of a given policyholder, but by the factors surrounding the sum of all policyholders so exposed. Typically, insurers prefer to limit their exposure to a loss from a single event to some small portion of their capital base, on the order of 5 percent. Where the loss can be aggregated, or an individual policy could produce exceptionally large claims, the capital constraint will restrict an insurer's appetite for additional policyholders. The classic example is earthquake insurance, where the ability of an underwriter to issue a new policy depends on the number and size of the policies that it has already underwritten. Wind insurance in hurricane zones, particularly along coast lines, is another example of this phenomenon. In extreme cases, the aggregation can affect the entire industry, since the combined capital of insurers and reinsurers can be small compared to the needs of potential policyholders in areas exposed to aggregation risk. In commercial fire insurance it is possible to find single properties whose total exposed value is well in excess of any individual insurer’s capital constraint. Such properties are generally shared among several insurers, or are insured by a single insurer who syndicates the risk into the reinsurance market.

So here the summary for the principles of insurance:

Definition about Insurance

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What does insurance mean?

Insurance,as my thought, is the act of insuring property, life, one's person, etc., against loss or harm happening in specified activities of daily life as acident, health, death or in consideration of a payment proportionate to the risk involved.

Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss. An insurer is a company selling the insurance; an insured is the person or entity buying the insurance. The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage, called the premium.