Highlights for car insurance India: Increased Consumer Safety & activities


The Insurance Bill passed in March 2015 in both houses is expected to have a deep impact on the Indian insurance industry. Much anticipated and awaited, this change offers a lot of benefits to both the company and the policyholder. Increased powers for regulatory bodies, more protection for policy holders and increase the amount of foreign investment in the industry are some of the key features of the insurance bill.

Here are some of the main highlights of the bill and how they can affect you:

Increased Foreign Investment: New amendment does up to 49% foreign investment in Indian insurance companies from now continue. It is expected this increased capital flow to revitalize the industry all together. Domestic players will now be able to invest in new products and expand their portfolio manifold.

What this means for you: how is this going to affect you as a policyholder? Well, at first glance may seem irrelevant at all, but increased foreign participation means greater competition, a wider product range and greater professionalism. Increased competition in the market will also reduce malpractices such as miss-selling and misleading policy holders. So, in the long term move can really change the whole scenario Indian insurance market.

An authority IrDA: This act goes a a long way in strengthening the fist of IRDA. This governing body will now continue to participate in the grass root level, such as ships insurance agents and monitoring their qualifications, ability and professionalism.

Also, this governing body is now authorized to regulate key areas such as insurance expenses, investments, commissions payable to agents, protocols, etc.

What this means to you: The extra power IRDA is sure to draw many malpractices are rampant today the insurance market in India. So, as the policyholder’s money will now be safer than ever.

Consumer safety: Indian Insurance market was never as safe as it is now from the consumer point of view. If you are worried about being misled by insurance agent, then this act will give you peace of mind. In an effort to deterioration malpractices, new change levies punishment from INR 1 Crore to 25 Crore INR any insurance company that performs mis-selling and misrepresentation.

What this means for you: In the light of high penalties, companies are more likely to enforce stricter guidelines for their agent, who will then give you more protection as a consumer.

The Bill will also make the payment process easier for the policyholder nomination.

Another very important change that Bill was short for denial is time for the policy. Rejection time the particular period in which the policy may be declared invalid in the light of incorrect information furnished by the policyholder. The new bill shortens this period to 3 years, to keep consumer interest intact.

Health Insurance: Health insurance in India never quite received the status of a separate business vertical. But this Insurance Bill identified and addressed the problem. The amendment defines “health insurance card business” in an accurate and includes personal accident coverage and accident coverage while traveling in it.

What this means to you: This action will certainly shape the way many powerful insurance products related to health.

Power Industry Council: The two Insurance industry advice The Life Insurance Council and General Insurance Council are now given the status of self-regulatory bodies under this Act. Now the two industry councils the right to frame bye-laws for their meeting and elections. Also organizations can levy fees and collect them from the members.

What this means for you: Improving these parties has now opened the means of communication between stakeholders in the industry.

The opening of the reinsurance front in India : The new changes in the law have opened up reinsurance segment quite broadly. 49% foreign investment cap, foreign investors can now secure part of the insurance company.

What this means to you: A back-off company takes a major risk factor by the insurance company. Re-insurance companies are generally more knowledgeable about international practice insurance. Thus opening up a re-insurance option will bring in knowledge and expertise from global players as well as make insurance more stable.

with all these major sites, Insurance Bill 2015 was strong and actually could stand up to the most expectations.


Source by Ekta Jain

Insurance for coach house


Coach Houses are built on 3 floors; similar to the town house, but the ground floor is a garage. This is a popular and space-saving option for house builders to incorporate all the facilities of a modern family needs to use smaller plots of land to provide it. It is therefore considered economically house construction. Affordable house building means more cost housing! Everyone is a winner with this new space-saving concept!

This design property is usually smaller, boasting just 1 or 2 bedrooms – 3 bedroom coach houses are unusual, but we are seeing that they are based more so lately.

coach houses are usually three dynamic characteristics (although in some cases it may be), one property owner will be responsible for insuring all garages adjacent block coach houses are built, and may request that the other owners – who will have access to the garage with its 999-year leasehold, pay a contribution to insurance costs, even if the policy is not only the garages and will include their house too !. It is considered reasonable, however, that the policy holder can request 25% from other owners Coach House to its construction cost insurance.

This is an effective way to share the cost of insurance and protect the legal responsibilities of each body. The owners of the house will also have its own coach house buildings insurance policies, however, to ensure their own home (excluding the garage, of course, is the leasehold through their neighbors) Tricky to follow? It can be unless you have been given good advice! You need to clear detail how everyone should protect themselves and their property against uninsured in the event of a claim! This tends to be when policyholders realize they are uninsured, if they make a claim!

There are usually Significant areas of common driveway space with these plots also, and this responsibility is to be in the direction of Coach House owner who is also insuring garages.

There are policies available to cover these risks, although they can be hard to find! There are not many available in the market so it can take time to find the right policy for you. The most important thing is to ensure that the insurance policy you choose covers all these risks and insurance provider is fully aware of the building, but set up a lease, and common debt involved. Without investing the time, make sure you buy the right insurance buildings, might cause you to find out that you are actually uninsured if you come to make a claim!


Source by Hayley Connolly

Auto Insurance Settlement or claim? How to determine


Bet you German mastermind and inventor of the first working car, Karl Benz, never fully imagine where life-transforming his brainchild would take part in the accident.

Although there are various opinions about who really thought about auto insurance, there is evidence that it was Herbert Stanley Morrison who was responsible for the federal government to require every driver to have insurance that would protect them from the associated liability risks .

Despite the obvious great benefit to have auto insurance, every driver is aware of the arrival of the application of many occupational requirements: a second peak in coverage price!

It is for this reason that many people consider settlement of the arrangement between the drivers in the collision. If you are the one to blame in an accident and you have a history of damages that name you as guilty, it may be wise to opt for this type of settlement. Before deciding that, however, it is advisable to view some information.

Disclaimer: Before agreeing to any private settlement, always exchange insurance information so that if you decide to opt out of the plan, you have necessary information to be shared with insurance companies.

When Settlement sense

If you are the one who caused the accident

• Make sure to get an honest assessment mechanic for repair. Will auto repair costs less or a little more than your insurance deductible? If so, it is wise to pay out of pocket for damages.

• Is the driver stranger? Can you trust him to be honest in relation to prove the damage and the valuation? Only agree to the settlement if you understand you are not being “taken for a ride ‘; that damages the car are those accidents caused and that you are not asked to pay for unauthorized charges.

• Make sure that no one has been injured. Remember that medical costs can and often no more than the cost of your expectations. Moreover, if the other party is unscrupulous, he or she can bill you for phony health problems, adding thousands of unnecessary dollars to your account .

If you are a victim of the accident:

• is the at-fault driver someone you know? If he is a stranger, may be taking risks, trusting him to make payments on your loss.

• If you have been injured, medical bills could very well over the amount of the other driver is willing or can afford to pay.

• Establish that you will be the one to choose a mechanic to make repairs. Do not trust any contract based on the tender of the driver to make self-fixing or repair shop of his choice.

• Refuse all cash deal settlement before getting a thorough assessment of the true losses.

• Deny any settlement if the at-fault driver does not respond immediately to attempts to contact him.


Source by M Wyzanski

Differences between employers liability insurance (ELI) and Workers Compensation Insurance (WCI)


Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI) are two important insurance covers to protect interests of employees as well as employers. There are, however, certain differences between these two. Due to these differences, it can lead to wrongful litigation and therefore anxious to party. The difference between Eli and WCI are to where they are and what they achieve. We will publish them in short order.

Because they have
employers liability insurance
As an employer, it is necessary for you to buy in the UK employers’ liability insurance. Do not buy attracts penalty under the law. In some cases, employees may feel that you are responsible for work-related illness / injury they may sustain and they sue this. If it is really the case, it may come in costs such as hospitalization, financial compensation and the like. ELI helps you in such situations.

Although it is necessary for you as an employer to Eli, requires workers to prove that the work related injury / illness is due to your negligence. Imagine your company’s timber. While working, employees should have the necessary equipment, training and skills to drive them. If you use them without fault safety norms, imparting training and laboratory skills, and they sustain injuries, will amount neglect as per rules framed under liability law employers and employees are likely to feel the right to sue you because you are responsible.

Workers compensation insurance
On the other hand, workers compensation insurance is cover for employee welfare. Depending on the situation on the tone of relations between employer and employees. Thus, if you are more concerned about the health and safety of workers, you have to buy insurance. It does not matter whether it was your fault or the fault of your staff which resulted in illness, injury or death, this insurance comes to your help.

employers liability insurance
As an employer, you have to go to court if the employee sues you. You have to pay financial compensation and carry hospitalization and medication. ELI covers all these expenses.

Similarly, for employees ELI includes permanent and temporary disability, injury and wrongful death in the workplace. It covers the cost of litigation as well.

Workers compensation insurance
For employers, WCI’s Good Samaritan. In most cases, ensure that workers do not resort to litigation. However, in such an unfortunate event, WCI covers the cost of litigation. It covers the cost of capital to provide the relevant employee for work-related injury, illness or even death.

Employees already inured in the workplace, under the WCI, are guaranteed to receive compensation from the employer to cover medical and hospitalization expenses and a certain part of the salary. In most cases it is two-thirds or more. WCI covers the cost of litigation, by an employee. General WCI handles the situation and make sure that the litigation by employees is avoided.

WCI covers compensation (wages) in case of a temporary disability for the period of absence. If a person received a permanent disability, and not fit for employment in current practice, WCI covers the cost of training and rehabilitation and the cost of looking for a job, if he wants.

Although both ELI and WCI is designed to protect the interests of workers and employers, there are differences in the way they are. You need to understand them and buy a cover according to the company’s need.


Source by Nate Rodnay

Mobile Oil Change Business and General Liability Considered


Not long ago, I received an email from a gentleman who will set up a mobile oil change business in Florida. He was worried about what kind of insurance he may have and was under the impression that 1 million commercial liability policy was needed and beyond work truck vehicle policy commercial vehicle replacement. Well then, let’s talk about this; is he right?

It turns out that he is most definitely, you see a commercial vehicle is not the same as completed activities or potential liability while working. For example, if the car catches on fire you are working on, commercial auto policy is not going to take it. Do you see the point? So, this is advice I explained to him;

You probably want to get a commercial insurance policy; $ 1,000,000 aggregate, 300K event for general liability, with “garage keeper liability is” a signal, and there will be some customers who may require more, and also require the addition insured, not just a certificate of insurance on file .

Commercial Auto Insurance is another need, but most commercial business strategy will write them together as one. Find a good “commercial insurance broker” and have them scout out their sources, usually a broker-agent knows very well Underwriters (as in the speed-dial) and can get you a good rate and the underwriter will understand the difference between mobile and fixed costs. General commercial liability insurance is partly based on estimated gross income.

not the plan or you will pay too much, and do not underestimate or you can get audited by the insurance company or they could easy see that you are not a viable exit. Believe it or not, most commercial insurance policies do a clause in its insurance contracts they may audit you and signing policy you agree in advance that the withdrawals. Thus, it is unwise to fake information or underestimated. If you feel you may have underestimated you need to call you Agent server and explain that sometimes they will add a premium, sometimes up plans for next year’s gross sales.

Now that Florida is a great market for mobile oil changes, however, let’s not forget that there is some competition there, some long 25 + years, in fact, and so, the insurance is only one element or piece of information that one needs to consider before a company of this kind. Please consider all this and think about it, and develop a strong business plan.


Source by Lance Winslow

Make childcare facilities Need Employment Practices liability?


Protection for you

You’ve got a state-of-the-art children’s nursery built around warm, clean and safe atmosphere. The teachers are handpicked professionals who give the kids undivided attention, stimulation and fun to learn. Children are happy. Staff are met. Parents are proud. What could go wrong?

Unfortunately, a lot of things – the general liability insurance does not cover.

Childcare Assertion example that actually occurred!

• liability: After Montessori School stated that they could not recognize the child for a license limited capacity, parents sued for racial discrimination. The parents insisted that the school had not accepted strategy for African American children and mentioned the fact that the student body does not contain even one African American. Prevention and Settlement costs amounted to: $ 67,000.

• Internet / Email Responsibility: An Administrative Assistant to the child care facility sent an email to all employees instead of its intended one recipient. The email contained embarrassing inappropriate jokes. the center’s director is instructed staff to send subsequent apology email to all. Just two months later, an employee who was terminated because of company downsizing, sued because of a hostile work environment and inappropriate e-mail cited as evidence of an atmosphere that does not respect the religious Rules. The factory was discomfited and indifferent to this issue in light of the parents.

• Retaliation: An Indian employee parking protested racial insults directed at him by some of his fellow workers. Therefore, the owner assigned him to another room where there was less of a staff presence. The new status rise less labor-time and thus reduced his hours. The slighted employee sued childcare center for discrimination and retaliation regarding discrimination. Prevention and Settlement costs totaled: $ 125,000.

• Wage and Hour: A Non-Exempt principal was hidden tracking hours when she won the overtime that was requested by her. As a salaried worker, this teacher named never any unjustly, the additional workload. When the owner offered a wage-and-hour lawsuits by a teacher, he was caught by surprise. Although there was no way to evaluate a teacher’s calculation of working hours were accurate, the center guided by his lawyer to settle the amount of advance rather than take risks in other current and former employees who join the lawsuit.

Employment Practices Liability Insurance

Employee requirements establish a steep price. Protect childcare center from lawsuits by APPLE plan tailored for you.


An APPLE policy protects you against lawsuits statements current, past and potential employers, as well as visitors. There is coverage for a wide range of suits from:

1. wrongful termination

2. Discrimination

3. sexual harassment

4. Services refusal

5. Other employment requirements


Source by M Wyzanski

Insurance for what !? Oddest Things Ever processed


At some point in everyone’s life, insurance becomes a necessity. Whether coverage is required by law, such as auto policy, or by prudence, it is a virtual certainty that you have to protect themselves from losses. The run of the mill policies (life, home, auto) are understandable. If you lose your home in a flood, you’re going to be glad you had coverage. But then there are others that make you scratch your head. The fact of the matter is, if you are willing to pay premiums, no matter how strange or even impossible scenario, someone will catch it. Here are some examples of odd, outlandish and otherworldly that people insured.

Alien Abduction

Yes, this is available. And it’s not just a one-off event; there are companies in the Southwest parts that make their income almost exclusively off of people covered in the event that they are taken into a spaceship with extraterrestrial beings. In most cases, it operates as a special form of life insurance. If someone is abducted by aliens and never seen again, and the family they leave behind will be added, provided that they can prove abduction happened. Other companies offer more specialized version of this to reach survivors of space-napping for psychological and medical expenses. Again, it seems that it would be very difficult to prove the information and concentrate on one of these policies. No evidence exists that someone has collected, but (as truth) policies are out there.


People have bought the coverage of all kinds of valuable parts of the body over the years. Betty Grable, a popular film actress and pin-up girl in 1940, took out a policy on her legs for a cool million bucks. Jennifer Lopez is said to have its famous posterior covered ten times that much, should its misfortune. But the oddest part of the body is the infamous tongue legendary Kiss frontman Gene Simmons. After rumors had surfaced that he had surgery on it, Simmons got a strategy to make sure he was added in case some over-zealous fan bit it off. A story that is hard to swallow, but true.

lottery winners

This strategy could even be less likely to pay out the alien abduction insurance. In the UK, the employer can buy policies to cover the incidental results from two employees quitting because they won the lottery. It needs to be at least two people, and they can not be sharing one ticket. The chances of one person is winning the lottery are slim; the probability that two winning tickets must be purchased by people working for any one company is almost none. One wonders if the Camelot Group, the organization that runs the UK lottery, has purchased such insurance. If two of their employees worked, that would certainly raise some eyebrows!

Next time you are talking to insurance salesman of car covers, see what they offer, just for fun!


Source by Aaliyah Arthur

7 Ways to spend less on your home insurance policy


Property is a prized possession, and to secure it from unexpected damage in a fire, flood, earthquake, etc. getting a home insurance is always necessary. However, if the current health policy is wearing monthly income, below are some sure shot ways you can control your home insurance costs

1. Shop around: The decision to buy a home insurance policy should not be taken in haste. Instead, you must investigate and make a list of insurance policies that are offered by various insurance providers. You can also get insurance quotes online to assess the costs of different policies. Choose a reliable company that can buy comprehensive home insurance plan that suits your needs, and of course, budget.

2. Increase your deductions: deductions is a violation of the requirement that you have to pay for your club pays the claim as per the terms of the policy. The higher the deductibles you set, the lower the premiums you will pay each month. However, you must adjust deductions as high as you can afford.

3. Find the intelligent: Buy property in a strategic location but make sure it is built away from a damage-prone areas. The reason is, if you live in disaster-prone areas where floods, storms or earthquakes are a common occurrence, chances are that home insurance policy may have a separate deductible for such damages.

4. Avoid making small claims: This is the most common mistake that many people make. You exhaust your strategy in small claims thus leaving no room for the larger loss protection. Rather, it is advised to deal with smaller issues on their own and maintain this policy to protect your home from large catastrophic losses.

5. Improve Home Security: To avoid getting home damaged by small mishaps, it is proposed to increase the security of your home by installing devices like smoke detectors, burglar alarms, etc.

6. combine policies with one insurer: Just as you pool internet, phone and TV package, you can also combine insurance policies with one insurer. Buy your health insurance, homeowners, life and auto insurance plan from one insurance company and come out cheaper by bundling these insurance products together. You may also purchase a policy package that is cheaper compared to individual policies. It liberates you from the trouble of policy renewal.

7. eliminate unnecessary Coverage: Do not buy coverage you do not need. As earthquake coverage is often unnecessary in most areas do not include the jewelry if it is the catch penny price, etc. Also excluded land value of your policy. Closer to land the house is built is simply not used as it is unlikely that the land will be stolen or burned a fire. So to save big, ensure the value of your home only.

There are many insurance providers that offer age and occupation rates as well. Some times where certain discounts for retirees and people with good credit ratings. Never eliminate coverage is important to save money and spend an additional important services will benefit you in the long run.


Source by Sahil Doshi

Understanding Health Insurance Policy abolished


The provisions related to limitations and exceptions may seem complicated at first but it is important to understand this before you sign up. There could be some exceptions and limitations that may not affect you or your family at all while some may be important for the history of health and hereditary family. So while it is impossible for one person may not make a difference, it could make a huge impact for others. That is why it is important to understand what these are and how they affect and relate to you as an individual and your family as a whole.

Exceptions are those conditions or charges not covered by insurance. In such cases, the creditor must share a predefined part of the cost of the claim if it should ever arise. Some insurance companies will also set the limits within the sum insured as a whole. Exceptions are the fees that the insurance company will not pay for. IrDA has standardized this list of costs. There are also different break for different situations.

One of the most common exemptions for health insurance are available diseases. This is because the entire premise of insurance is based on uncertainty so if there is a disease that you are already suffering from, it will not come under the insurance. Usually you can get insurance to cover you for a pre-condition following the specified waiting time has passed.

Another is excluded from the pregnancy and expenses related to childbirth and after vaccination. It could be a waiting period after pregnancy as well, but after that there are some benefits that can be availed. Other items that are excluded from health insurance policies are cosmetic surgeries, dental operations, other treatments such as Ayurveda and homeopathy, etc.

Sub-limits are another factor that should be examined carefully in the beginning before investing in the insurance policy. A sub-limit is related to exemptions that are associated with the commission of doctors, ambulance costs, rent for hospital rooms, etc. Knowing the limits keeps you prepared for emergencies so you know exactly what will be covered and what you have to pay from their own pockets.

There are trends that seem to have a whole list of exclusions and sub-limits and there are those who have a moderate amount of them. Knowing what is so excluded and what is not will help you make a better decision concerning health insurance to select. This can be done easily by making systematic and meticulous comparison of health insurance policies taken from different websites or products directly. Knowledge is power and knowing this beforehand will help you to better plan future family.


Source by Amar N Tyagi

Use Independent Life Insurance Broker to buy final expense whole life insurance


Are you worried about leaving the family with a large bill at the end of your life? Do you want to take off of the loved ones by purchasing life insurance as a senior citizen? Are you worried that you will not be able to afford the monthly payments? You might be surprised at how affordable final expense life insurance plan can be for seniors today! You can have peace of mind that your family will not have to beg, borrow, or incur debt to cover the final costs.

When buying a final expense or burial insurance type of strategy that older, there are a lot of things to take into consideration. Final expense policies are whole life policy that pays your family to cover the costs of the funeral or cremation and the final debt you owe many. The average death benefit is between $ 2,000 to $ 30,000. Rules are issued up to the age of 85.

Do not buy anything through the mail! I hear complaints from older all the time took it upon himself to buy a product that was not appropriate for them or for the best! Use an independent agent who has negotiated with many airlines so you can be worry free! The independent agent is your friend!

There are many carriers that can and will take your specific conditions. Not all carriers have the same requirements, so one company can not offer you the same day coverage if you take blood thinner, while another performer will! One carrier has a higher price for smokers and another carrier will consider you a non-smoker if you only use a pipe, cigars, or chewing tobacco. You have options, so it is best to work with an experienced independent agent who is up to date on all the different airlines and can find you the best policy for your needs and your budget!

not working with an agent that only one carrier. It is the biggest mistake you can make and can cost you big time in terms of monthly premiums and how long it takes for the policy pays out in full.

Working with an independent agent is the way to go. Independent agents have your best interests at heart. To protect your family is what life insurance is all about. If you want to get the best policy that you qualify for based on your needs and your budget, consider using an independent agent!


Source by Amy M Pulver