Category: Uncategorized

Group insurance mechanism

Group insurance mechanism

Experience Rating: Another special feature of group insurance is that premiums often are subject to experience rating. The experience of the individual group may have an important bearing on dividends or premium-rate adjustments. The larger and, hence, the more reliable the experience of the particular group, the greater is the weight attached to its own experience in any single year. […]

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preparation of the group insurance contract

The marketing system relieves the agent or broker of many duties, responsibilities, and expenses normally associated with selling or servicing of individual insurance. Because of the large premiums involved in many group insurance cases, the commission rates are considerably lower than for individual contracts and are usually graded downward as the premium increases. Some large group insurance buyer’s deal directly […]

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Why not just require the old insurance form?

Why not just require the old insurance form?

You may ask, “Why doesn’t the certificate holder simply require the insured and its insurance agent to provide the old certificate of insurance form?” What certificate holders and insureds should know is that if an agent does modify a standard certificate or signs a custom one that provides notice of cancellation, it is almost certainly doing so against the explicit […]

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Fire Insurance Under Insurance Law

Fire Insurance Under Insurance Law

A contract of Insurance comes into being when a person seeking insurance protection enters into a contract with the insurer to indemnify him against loss of property by or incidental to fire and or lightening, explosion, etc. This is primarily a contract and hence as is governed by the general law of contract. However, it has certain special features as […]

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LAW GOVERNING FIRE INSURANCE

There is no statutory enactment governing fire insurance, as in the case of marine insurance which is regulated by the Indian Marine Insurance Act, 1963. the Indian Insurance Act, 1938 mainly dealt with regulation of insurance business as such and not with any general or special principles of the law relating fire of other insurance contracts. So also the General […]

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What’s Car Insurance and Which One Is Best for You?

What’s Car Insurance and Which One Is Best for You?

Car insurance is a legal requirement when you drive any vehicle on the road. In order to obtain the cover, you will need a driving license and have your information readily available. This cover protects you and the other vehicles on the road, should you be involved in a road traffic accident. There are different levels of cover, each one […]

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You Do Not Always Need Car Insurance

As you can see, many states offer you other methods in registering your vehicle without having to have car ins. However, it may cost you more money to get around insurance than just purchasing a simple liability insurance plan. Most cash deposits and surety bonds must be above $30,000 and insurance may cost you between $1000 and $3000 a year. […]

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Motor Trade Insurance Inclusions

Most companies within the vehicle industry understand it’s essential to have a good policy in place, but they are not always sure about what is and included in their motor trade insurance policy. These policies are specifically designed for this industry, providing business owners with the peace of mind they need on a daily basis when working in such a […]

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Tips to Finding the Best Fleet Insurance for Your Business

Fleet insurance is helping many companies that own a number of vehicles save money on their policy. This type of policy comes with a host of advantages from placing all vehicles under one policy to having one premium to pay and helping keep your costs as low as possible. There are many companies providing this type of policy, some will […]

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Why Are Young Drivers So Expensive to Insure?

According to the Insurance Institute for Highway Safety, young drivers are far more likely to speed, to cause accidents and to be involved in serious crashes than their older counterparts. The statistical rate at which young drivers are more dangerous tends to drop around age 25, so many auto insurance companies offer lower rates to those who are 25 and […]

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