Professional liability insurance, also called E&O insurance or malpractice insurance, covers business owners when clients claim the business owner did not meet professional standards by making mistakes, offering bad advice, or behaving negligently. This insurance policy pays for the business’ legal defence, including settlements and court – awarded judgments. Do Business Owners Need Professional Liability…

 

What insurance industry characteristics resemble a cartel? Here’s everything you need to know about the cartelisation of the insurance industry. In times past, the insurance industry was characterised by the coexistence of stock and mutual insurers who come together to adopt a price and market agreement that resembles a cartel. Just like producers of other…

 

A third-party administrator refers to a company that offers operational services such as claims processing and employee benefits management under contract to another company. In the United States, insurance companies and self – insured companies tend to sometimes outsource their claims processing to third parties. Hence, such companies are often called third – party claims…

 

Which of the following insurance types will cover the possessions inside your home? Here are 7 best insurance policies to cover possessions inside your home. One of the selling point of insurance is that it comes with this peace of mind where you know that you cannot be placed in a tight corner by unforeseen…

 

Do you need affordable insurance coverage as a truck driver? If YES, here are 12 best insurance policies for self employed truck drivers and their cost. Starting and managing your own truck business comes with a lot of benefits: you get to be your own boss, keep all of your profits, and you have no…

 

Whether it is car insurance or business insurance, the average insurance buyer has a major goal in mind; and that is getting the best coverage at the cheapest rates. We have discussed a lot in previous articles; we have discussed topics ranging from how to buy insurance policies, how to avoid scams and i even…

 

Whenever you buy any product or subscribe for any services, you do it with the intention of getting value for your money and it really sucks when you cannot get your claims paid after spending years paying premiums. The best way to prevent this is to perform a due diligence before entering into an insurance…

 

One of the reasons most people shy away from insurance is because of the pain of paying premiums monthly with no immediate return or benefit. Everyone wants affordable premium rates for their insurance policies but the truth is that insurance doesn’t come cheap. Yet, it still doesn’t have to be expensive. Are you looking for…

 

What is the right way to apply for insurance claims for your business? How do you increase your chances and eliminate the odds of getting the claim? You see, the last thing you need after your business has just suffered a hit, is the insurance company giving you the run around, wasting time and energy…

 

Insurance scams are not fairytale stories, a lot of people have fallen victim in the past as a result of dealing with the wrong insurance broker or getting mixed up with agents that do not have your best interests at heart but only interested in the commissions that he can get out of you. Of…

 

First, let’s define what risk means in insurance and also understand what risk management is all about. Risk is the probability that an event would occur which would lead to certain losses or financial consequences. Risk management on the other hand is a situation whereby a company or organization takes steps to identify, assess and…

 

Do you want to get the best insurance deal available without being ripped off? If YES, here are 10 tough questions to ask your insurance agent or broker. Do you know that in 2010, it was discovered that more than half of insurance buyers in America are nervous when making insurance buying decisions? This is…

 

When U.S. President, Barack Obama proposed the Affordable Care Act, otherwise known as Obamacare, many were glad because they felt it would offer more protection and benefits to consumers of health insurance and prioritize them over insurance companies. But more and more Americans are becoming aware that the opposite is true. With each passing day,…

 

Because insurance companies are businesses in themselves that are out to make profit for their owners and stakeholders, they must make enough money to stay viable. They make money by setting premium rates according to risk. If most of the people covered by an insurance company end up not filing for claims because what they…

 

Sometimes, buying insurance can feel like you are being ripped-off your hard earned money. The reason is because you spend years paying premiums so that you can be protected when an unfortunate event occurs. But when you eventually file a claim, you are given the run around and treated like a beggar. Well, insurance is…

 

How do I choose an insurance company? This question is very popular amongst people who are shopping for insurance products as there are thousands of insurance companies out there from the big giants to the really small ones. Insurance is an intangible asset and that is why it is better to be careful when shopping…

 

Only few things are more unclear to people than how insurance premiums are calculated. Some think each insurance company sets its rates arbitrarily. Some think the rates depend on the insurance policy being purchased. And some think the rates are the standard prices set by insurance regulatory bodies. And worse, many insurance agents and brokers…

 

The insurance settlement process is a very long and complex process but insurance companies that really do care about their clients make an effort to make the process as fast and straightforward as possible. The way an insurance claim would be handled usually depends on the type of insurance policy; For instance, a life insurance…

 

Only few people will be ready to listen to you when you try to sell them on the benefits of buying insurance. As for the majority, they will either cut you short, bring up another topic, or hit the roof. As an independent insurance agency or agent, you need to know how to deal with…

 

Getting an insurance policy is one of the best things you can do for yourself and your business because we are faced with a whole lot of risks in our day to day lives such as accidents, fire, natural disasters and several other unanticipated disasters. An insurance policy would not only help to reduce risks,…

 

Why do insurance companies raise premiums? Because insurance companies are businesses in and of themselves, they are out to make as much profits as possible for their owners and stakeholders. One of their tactics for achieving this ultimate goal is to look for tiny statistical nuances that can predict the likelihood that someone will file…

 

What do you do when an insurance company denies a claim and doesn’t pay? This is the question on the minds of most insurance policy holders. Only few things could be costlier, more frustrating, more unsettling, and more disappointing than receiving a letter from your insurance company that your claim has been denied. This will…

 

When are insurance policy premiums tax deductible? This is a question most business owners ask when buying insurance. Well, this article will consider six factors that make insurance premiums tax deductible. Most insurance policy premiums are typically not tax deductible. In fact, this is one of the reasons why entrepreneurs feel motivated to go for…