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November 4, 2002 No-fault auto insurance is a short hand reference to two things.http://www.hawaii.gov/lrb/lrbnotes02/0217notes.pdf. First, it is the insurance that the law in Hawaii requires every motor vehicle to have if that vehicle is to be operated on the public roadways. The required coverage includes personal injury protection benefits for the insured's own injuries as well as liability coverage for personal injuries and property damage that the insured causes to the people in the other vehicle and the other driver's vehicle. The Legislature's purpose in changing the motor vehicle insurance system from a tort (fault) to a no-fault system was to enable people in most (but not all) traffic accidents, to more quickly obtain insurance proceeds to pay for medical attention to their injuries. How does "no-fault" insurance differ from "fault" insurance? In contrast, when there is an accident under a no-fault system, the insurer automatically pays for the insured's damages, regardless of fault, up to some specified policy limit. In Hawaii, the "modified" or "partial" no-fault system applies to most personal injuries (except the most serious cases involving death, serious bodily injury or comparatively high cost) and property damage to the insured's own vehicle (but not the liability for damages to another vehicle damaged by the insured). Under Hawaii's modified no-fault system, the insurer still pays for economic damages up to the policy limit, but the insured may be allowed to sue for non-economic damages if the amount of these damages exceeds a specified tort threshold. Underinsured motorist coverage provides insurance against losses caused by someone who has less than ... Most people think of life insurance in terms of death benefit protection.http://www.advisorsquare.com/advisors/epicfinancial/life_ins_overview.pdf. In effect, life insurance is one of the few remaining tax shelters available. Years ago, life insurance purchases were made almost entirely by men to protect their families. People now protect their family’s lifestyle by insuring both spouses, especially if that lifestyle is dependent on two incomes. • Term Insurance This type of insurance provides pure death protection, for a specified period of time, for a specific premium. Term insurance may be purchased in a separate policy or as a rider (supplement) to one of the other forms of policies - frequently at a discount. This type of insurance provides protection that can be kept for as long as you live. This type of insurance adds savings flexibility to the whole life concept of permanent protection. This type of insurance combines flexible investment opportunities with insurance protection. Term insurance is best suited to solve a temporary need. Whole life insurance is best suited for older individuals with a permanent need. CONSIDER AN IRREVOCABLE LIFE INSURANCE TRUST Life insurance is typically owned by the person whose life is insured. Thus, having a $1 million life insurance policy owned by an irrevocable insurance trust could reduce estate taxes by more than $500,000. For example, suppose a person wanted to have the flexibility of variable life insurance with its ability to increase or reduce the premiums and to shift the investments around within the accounts offered by the insurer. The Risk Management Agency offers a federally subsidized crop insurance program through private insurance companies.http://www.umass.edu/fruitadvisor/riskmgt/04mainsurancefact.pdf. Crop insurance covers disasters such as drought, hail, frost, hurricanes, excessive moisture, fire, insects & plant disease and wildlife damage. This fact sheet points out only certain features about various crop insurance programs and is not intended to be all-inclusive. For more specific information on a particular crop, contract your local crop insurance agent or visit our website at www.rma.usda.gov. What Crops Are Insurable? Sales closing dates are in place as the deadline to purchase an insurance plan for a particular crop. An application must be submitted to a crop insurance company representative by this date or else the insurance policy will not attach and your crop losses will not be covered. eligible to request crop insurance through a “written agreement”. The written agreement is a document designed to provide crop insurance in counties without an established program for the crop or an organic crop. See your crop insurance agent regarding documentation requirements. Crops usually stay in a pilot program until the insurance plan is deemed fundamentally sound. Check with your insurance agent to see if a pilot crop is available in your county. Check with your crop insurance agent to see if you qualify as a limited-resource farmer or for CAT availability. The cost for buy-up levels of insurance coverage is a $30 administrative fee, per crop per county, plus the premium. Crop insurance situations vary significantly due to individual crop, county/region, weather conditions, etc. Farmers are encouraged ... If you do not have a Prudential Financial representative currently handling your insurance and financial needs, you can locate the Prudential Financial office most convenient to you in the telephone directory or through our website, www.http://www.prudential.com/media/managed/INST-A007747_ConversionBLK.pdf.prudential.com/giconversions. Under the terms of your group life policy, some or all of your insurance coverage may be converted to permanent insurance. If you were insured for accidental death benefits (ADB) under the group plan, you may be eligible to add an accidental death benefit rider to the conversion policy. Subject to approval by Prudential, the amount of ADB is equal to the amount of life insurance coverage you are converting and may be included in policies issued at age 70 and under. Premium rates for the Prudential Guaranteed Life Insurance policy, issued by The Prudential Insurance Company of America, are included in this brochure. These are standard rates per $1,000 of insurance and apply to most individuals who are converting. The right to convert to a Prudential Guaranteed Life Insurance policy is guaranteed, provided the terms as described in your Booklet-Certificate are met. Servicemembers/Reservists: If you wish to convert Servicemembers’ Group Life Insurance (SGLI) to a Prudential Financial individual life insurance policy, you must submit your application, first month’s premium, the letter you received from the Office of Servicemembers’ Group Life Insurance, and the proof of SGLI as defined in the above mentioned Like most insurance policies, Prudential Financial’s policies contain exclusions, limitations, reductions of benefits, and terms for keeping them in ... But this also means that governments must step up to their responsibility to enact legislation that encourages the proper attendance to environmental and social issues in insurance, banking and investment management.http://www.uneptie.org/outreach/wssd/docs/sectors/final/finance-insurance.pdf. The finance and insurance sector has taken great strides to improve its environmental and sustainability performance since the 1992 Rio Earth Summit. The insurance sector will have to go ‘back to basics’ and work within a multi-stakeholder dynamic if it is to develop new products and strategies to enable society to cope with emerging sustainability challenges. Risks associated with climate change are the foremost example of the new challenging environment in which insurers and reinsurers are operating. The vast majority of global economic losses associated with natural disasters remain uncovered by either public or private insurance and the burden inevitably falls on the poorest members of society. Insurers and reinsurers are deeply involved in environmental matters and increasingly attuned to the challenges and opportunities presented by the emerging broader sustainability issues. Although considered a ‘clean’ industry, insurance companies have many opportunities to support sustainability and have responded positively to these opportunities since the 1992 Rio Earth Summit. Insurers and reinsurers have analysed many areas of the world regarding frequency and severity of natural disasters.The research goes hand-in-hand with that of scientists who are often surprised at insurers’ immense databases concerning insured values and vulnerability. By nature, insurers are in favour of any activity or regulation that ... Most Americans with private group health insurance are covered through an employer, coverage that is generally provided to active employees and their families.http://www.law.umaryland.edu/marshall/crsreports/crsdocuments/RL3062603292005.pdf. In 1985, Congress enacted legislation to provide temporary access to health insurance for qualified individuals who lose coverage due to such changes. Employers who fail to provide the continued health insurance option are subject to penalties. The Trade Act of 2002 provided a tax credit for the purchase of health insurance (including COBRA coverage) for workers certified as adversely affected by foreign trade. Some maintain that in requiring employers to provide former employees with the option of continuing their health insurance coverage, COBRA has resulted in extra costs for employers (in the form of increased premiums for employers’ group health insurance policies), as well as added administrative burdens. In contrast, others maintain that COBRA should be expanded to include new eligibility categories and longer coverage periods, so that more workers and their families have a source of group health insurance coverage during periods of job or family transitions. This report provides background information on continuation health insurance under COBRA and on the COBRA population. Although the law allows employers to charge 102% of the group plan premium, this can be much less expensive than coverage available in the individual insurance market. Before enactment of COBRA, if an employee’s job was terminated (voluntarily or involuntarily), the insurance offered by the employer also ceased, usually within 30 to 60 days. In 1985, 10 states had ... I have health insurance coverage because I am sponsored by either U.http://www.csuohio.edu/internat/health_insurance/forms/health_insurance_verification.pdf.S. Government, through my home country (Embassy), or through the U.N. Attach copy of your sponsorship letter indicating Health Insurance Coverage and a copy of insurance card. I have health insurance through a parent’s work, spouse’s work or my work. (If this is a non US policy you must attach verification that health care expenses will be covered in the US and this coverage must meet CSU requirements below) Attach Copy of policy and copy of insurance card I am presently insured by another carrier and am receiving benefits due to an ongoing illness and would lose coverage if I switched to CSU Health coverage . (Must provide proof that you need to stay with this company and this coverage must meet CSU requirements below) Repatriation of Remain in the amount of at least $10,000 Co-payment or coinsurance not to exceed 20% of covered expenses I certify that the above information is accurate and complete. I request the Student insurance fee be waived on the basis that I have and will maintain comparable insurance coverage. I understand that if later I lose coverage and want to be enrolled in the Student Health Plan I will have to notify CISP in writing. I also understand that if my insurance coverage changes or expires I may be enrolled in Cleveland State University’s Student Health Plan unless I provide proof of new insurance to CISP. I further acknowledge that a request to waive student health insurance must be submitted every August I wish to waive. Health Insurance is a requirement as stated on your I-20 and of the University. Note: If this form is not ... Benefits are based on your salary rate and are designed to give you flexibility in selecting insurance which will meet your individual needs.http://www.lanl.gov/worklife/benefits/docs/pdfs/life_bsp_2006.pdf. You are urged to take the time to examine your life insurance benefit program carefully in order to see how this benefit program may help provide additional protection. The Dependent Group Life Insurance Benefit Program was specifically designed to provide greater protection for you and your family against the financial burden that follows the loss of a spouse/domestic partner or a child. All benefits and coverages described in this summary are subject to the terms and conditions of the insurance contracts under which benefits are provided. If there is any conflict between this summary and the insurance contract, the insurance contract will always govern. This insurance does not entitle you to a waiver of premium during a disability. You may select the individual policy from several forms of life insurance customarily issued by Prudential, other than term insurance or any policy containing disability or other supplementary benefits. Once you convert your group insurance to an individual contract, benefits and rights under the group contract cease. If you later become eligible again for LANS’ employer-paid group life insurance coverage following conversion, you must surrender the individual policy to be covered under the LANS group insurance. ASSIGNMENT Under certain circumstances some employees consider it advantageous to assign their rights to employee group life insurance to another person, a trustee, or a viatical settlement company. You may select the individual policy ... The National Flood Insurance Program (NFIP) The National Flood Insurance Program is a federal plan which enables property owners in participating communities to buy affordable insurance protection against losses from flooding.http://www.eere.energy.gov/weatherization/pdfs/hazard_workshop/appendix_f.pdf. Even after floodproofing your home, you still need insurance to protect you from unexpected events like a flood rising higher than your protected level. Homeowners’ policies do not cover flood damage, so you need to purchase a separate policy under the National Flood Insurance Program (NFIP). You can buy insurance which covers your home’s structure (walls, floors), insulation, wall-to-wall carpeting, furnace, and other items permanently attached to its structure. This insures your personal property, including clothes washers and dryers, food freezers, and the food in them. It is available to renters as well as owners, even if your home is not insured under the NFIP. NFIP flood insurance is sold through private insurance agents and companies. A few private insurance companies sell their own flood insurance policies. Some manufactured home insurance covers flood losses. For information about flood insurance and the NFIP, you may call 1-800-427-4661 to find out if your community is participating in the NFIP visit FEMA’s web site www.fema.gov/nfip call the NFIP’s toll-free number, 1-888-call-flood, ext. 445, to get the name of a local agent call your insurance agent about coverage and rates. Therefore, I don’t need to buy flood insurance for my home and belongings. Floods are caused by storms, melting snow, hurricanes and water backup due to inadequate or overloaded drainage systems, dam ... Domestic mutual insurance company" or the context or subject matter "mutual insurance company" means a mutual insurance company incorporated under the laws of this state pursuant to chapter 26.http://www.legis.nd.gov/cencode/t261c121.pdf.1-12 or other prior provisions of this title. Eligible member" means a insurance holding policyholder whose policy is in force as of the record date or member as defined under the bylaws or articles of incorporation of the reorganizing insurer. Foreign mutual insurance company" means a mutual insurance company incorporated under the laws of another state. A domestic or foreign mutual insurance company that has completed a reorganization to a stock company may retain the word "mutual" in its name so long as it is clearly identified with its name that it is a stock insurance subsidiary of a domestic or foreign mutual insurance holding company. A domestic mutual insurance company, upon approval of the commissioner, may reorganize by forming an insurance holding company based upon a mutual plan and continuing the corporate existence of the reorganizing insurer as a stock insurance company. A domestic mutual insurance company, upon the approval of the commissioner, may reorganize by merging its policyholders' member interests into a mutual insurance holding company formed according to section 26.1-12.1-02 and continuing the corporate existence of the reorganizing insurer as a stock insurance company subsidiary of the mutual insurance holding company. All of the initial shares of the capital stock of the reorganized insurance company must be issued to the mutual insurance holding company, or to an intermediate stock holding company that ... To be effective, a deposit insurance system should include the mechanisms necessary to ensure that adequate funds are available to reimburse depositors promptly if an insured depository institution fails and to cover the system’s operating expenses.http://www.fdic.gov/deposit/deposits/international/guidance/guidance/funding.pdf. The design of a deposit insurance system’s funding arrangements also will affect when and by whom the costs of deposit insurance are bourne. As the experiences of several countries have shown, inadequate funding can lead to delay in resolving failed institutions and to significant increases in costs.2 The design of a deposit insurance system’s funding arrangements also will affect when and by whom the costs of deposit insurance are bourne. Deposit Insurance Funding Methods: Ex-ante or Ex-post Funding Funding for deposit insurance purposes can be obtained by building a reserve or a fund on an ex-ante basis, or by having the power to obtain funds when needed on an ex-post basis. A combination of these approaches also is used by deposit insurers, notably when the deposit insurer has the ability to supplement ex-ante funding with an ex-post call on public or private funds. These accumulated funds, in turn, are available for the prompt reimbursement of insured deposits in the event of a failure of an insured depository institution. When funding is obtained on an ex-ante basis, all insured depository institutions contribute to building and maintaining a deposit insurance fund. As a result, insured depository institutions that subsequently fail will have contributed to the cost of reimbursing their insured depositors. For example, charging depository ... approved an expansion of Livestock Risk Protection (LRP) insurance to include a feeder cattle pilot program.http://www.rma.usda.gov/pubs/2003/PA-1667-09rev2.pdf. On October 29, 2003, the Board approved changes to the LRP-Feeder Cattle program to include additional types and weights of cattle as well as two shorter insurance periods. General Background LRP-Feeder Cattle is designed to insure against declining market prices. Cattle producers may select from a variety of coverage levels and periods of insurance to correspond with the time their feed er steers would normally be marketed (ownership may be retained). LRP-Feeder Cattle may be purchased continu ously throughout the year from approved livestock insurance agents. After being accepted, Specific Coverage Endorsements (SCE) may be purchased for up to 1,000 head of feeder cattle that are expected to weigh up to 900 pounds at the end of the insurance period. All calves and cattle to be insured must be located in a State approved for LRP-Feeder Cattle prior to insurance attaching. The length of insurance available for each SCE is from 13 to 52 weeks. At the end of the insur ance period, if the actual ending value is below the coverage price, the producer may be paid an indemnity for the difference between the cover age price and actual ending value. LRP-Feeder Cattle Program's expected ending values, coverage prices, rates, and per cwt. cost of insurance may be viewed on the RMA public web site. These will be posted on the RMA web site at the end of the insurance period. Applications for LRP-Feeder Cattle are sub mitted through FCIC-approved insurance providers and ... Volatility in prices and availability of medical malpractice liability insurance and allegations that insurance companies may have colluded in raising current rates are receiving attention from policymakers.http://www.law.umaryland.edu/marshall/crsreports/crsdocuments/RS21461.pdf. On February 11, 2003, Senator Patrick J. Leahy introduced S. 352, the Medical Malpractice Insurance Antitrust Act of 2003, to modify the McCarran-Ferguson Act to ensure that commercial insurers do not engage in anti-competitive rate-making in the medical malpractice insurance market to the detriment of consumers. This report provides an overview of the current medical malpractice insurance situation and insurance market structure, summarizes the provisions of both S. 352 and the McCarran-Ferguson Act of 1945, and examines arguments for and against modifying the McCarran-Ferguson Act. deteriorating financial results; Insurers – profitability in the medical malpractice insurance line attracted new players seeking revenue growth and the cash flow characteristics of long-term liability lines led to intense price competition and eventual deteriorating financial results; and Physicians – technological innovations and institutional constraints At present, however, the medical malpractice insurance debate is focusing on the extent to which instability of the medical malpractice liability insurance market is a result of (1) inherent management problems that are driven by the profitability cycle of the insurance industry, or (2) out-of-control medical litigation, Proponents of limiting certain insurance company pricing and accounting practices stress the insurance profitability cycle and the manner ... It covers more than 6,000 insurance companies.http://www.lexisnexis.com/literature/pdfs/LON00153-0Insurance.pdf. Appleman is the authoritative treatise for insurance issues, cited three times a week by U.S. courts. Matthew Bender® and Mealeys authors offer you insights on all areas of insurance practice and keep you informed on evolving trends and hot litigation topics. The only collection of Standard Insurance Policies fully annotated, providing more than 90,000 current annotations to more than 600 policies and endorsements, listed section by section and arranged alphabetically by jurisdiction. These manuals offer unbiased and author-itative interpretation of policy language with easy-to-understand interpretations and advice on—even practical examples of—Insurance Service Office (ISO) and commercial policies. And you can search them all simultaneously via either the regular LexisNexis source-selection hierarchy or the LexisNexis Insurance Research Task Page. NOTE: Sample searches in this guide indicate sources as they appear on the LexisNexis source-selection screens, as opposed to where they appear on the LexisNexis Insurance Research Task Page. Annotated to find the latest cases discussing a particular section or clause of the most widely sold and litigated insurance policies in the country, more quickly and easily than ever before. You can access an exhaustive collection of cases reported in the United States since 1978, which have interpreted more than 600 property and casualty insurance policies and endorsements. On the LexisNexis services, you’ll find all Insurance Service Office (ISO) forms from inception to current, for all lines of the property & casualty market. Research Task ... Everything an insurance company’s claims operation does has an impact on the pure loss ratio and the LAE ratio.. But still, the processes that each insurer’s claims operation follows and the decisions it makes are central to what combined ratio turns out to be. Recently Celent is seeing increasing evidence that insurers are giving claims a higher priority for their technology investments. For example, Celent’s report “Insurance Software Deal Trends 2004–2005” found that comprehensive claims solutions and focused claims solutions were the second and third leading type of software purchase made. The technologies insurers are investing in fall into three broad categories: core claims solutions, enterprise integration and orchestration, and claims tools. Insurers are also striking a better organizational balance between concentrating special adjusting skills (e.g. for bodily injury or subrogation), and putting generalist adjusters geographically closer to claimants and agents on the other. And more focused use of analytics is allowing better and earlier identification of Figure One shows how insurers are using claims referrals to special investigation units; as well as new insights for policy language and underwriting guidelines that may lower claims frequency. Incorporating business intelligence via either a built-in or independent rules engine provides insurers with a new level of control over claims processing. With the volatility of insurance, companies must respond quickly in order to compete. This allows insurers to improve operational efficiency and maximize oversight of ... | |
