Business insurance isnt just for big name companies that employ tens or hundreds of people and regularly get caught up in legal wrangles. In fact, I would say that small businesses – which can run from a small garage with just two people working there, to a corner shop, to a single person business – are even more in need of insurance than large companies.
The reason for this: small companies dont have legal teams. Think about what you would do if you were threatened with legal action as a result of your work exactly whom do you go to for help? Solicitors and lawyers are notoriously expensive professionals to employ to represent you. In
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It suggested that the industry should be urging government to insist borrowers take out a minimum level of protection to be eligible for it.
The scheme is a key part of the coalition’s housing strategy and will see the government underwrite mortgages up to 95% LTV on new build properties.
However, the government and home builders could be liable for losses in the event that a home is repossessed and sold at a loss.
Pacific Life Re believes that, given the risks to the public purse, compelling a minimum level of income protection and possibly unemployment cover would be a fair trade-off.
David Heeney, chief marketing officer at Pacific Life Re, told Mortgage Solutions’ sister title COVER he was intrigued by the scheme.
“This looks an interesting initiative although not without its practical challenges,” he said.
“The obvious risk is that borrowers will be unable to keep up repayments (particularly if interest rates rise at some point in the future).
“One way or another, this risk will largely be borne by taxpayers.
“Surely we should be lobbying for borrowers to be required to take out a minimum level of income protection, and perhaps also unemployment cover, to be eligible for this scheme?” he added.
The possibility of protection being made compulsory was raised earlier this year by PruProtect and prompted a spirited debate.
The new market for affordable mortgages includes first-time home buyers as well as homeowners who want to downsize. From newbies to retirees, shopping for mortgages online helps homeowners find the right terms and rates for their needs.
Affordable mortgages start by creating a budget. Buyers tally their income and debts to determine how much house they can afford. A monthly housing allotment should not be more than one-third of a buyers income. The annual percentage rate charged on a mortgage depends on the buyers credit rating.
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Hospitals in Jersey have announced that they will be recovering costs for the treatment of road accident victims from motor insurance companies in the future. The payment of GB£ 2,000 per hospitalized person is already included in the calculation of premiums, but went largely unclaimed until now. The cost recovery for outpatient treatment is set at GB£ 200. It is estimated that the health department could save up to GB£ 200,000 a year through the coast recovery.
In 2010, 417 people were treated at hospitals after traffic accidents on the Channel Island. Th
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Riders are a great way to customize your insurance policy and protect yourself against specific risks. One such optional benefit offered by most insurance companies, is the Waiver of Premium rider. As the very name suggests this rider, waives payment of future premiums for a specific term, subject to certain conditions. Here is a quick guide to help you understand what this rider actually entitles you to and when you should opt for one.
Waiver of Premium – The Basics
Accidents and unforeseen events may cause injuries or disablements, which could hamper your work and regular stream of income.
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During open enrollment at work, we’re faced with the often confusing task of evaluating the benefits options our employers offer. Often, these benefits can change from year-to-year, complicating things even more. While you may be tempted to just let your previous benefits selections “roll over,” it’s critical to take time to review and understand what’s being offered and make any necessary updates to your insurance and other plan selections to meet the changes you have—or will have—in your life.
According to a recent survey conducted by LIFE and LIMRA, among the top financial concerns of Americans today are
- having enough money for a comfortable retirement
- paying for medical expenses
- being able to support themselves if they become disabled and unable to work
Open enrollment gives you the perfect opportunity to review your financial and insurance plans to make sure you have a foundation in place to help prepare for these types of potential expenses. These eight t
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November 17th, 2011
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When going for a cheap car cover, one of the factors that you should look out for is the availability of discounts. A very good example of this is: in the case where a person owns more than one car and is looking for cheap insurance. In this case you find that some insurance companies offer discounts for people who insure more than one item with them, so instead of separately insuring your vehicles with two different companies, it is advisable to do so with one, so as to take advantage of their discount offers. Full Post…
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