B. Significant Aspects
Arguments about reporting deadlines are not uncommon. Disability must have normally occurred within one year and must be within 15 months from the doctor stated in writing and reported to the insurer after the accident. It may take longer for certain whether a collision damage is permanent, or until the doctor is the appropriate diagnosis. Better contracts are characterized by prolonged periods of findings and reports.
C. Details
Last, further details of the offers will be used to distinguish, with the personal life decides to get the importance of these aspects. If you opt for an accident, you should first pay attention to the fine print in the terms, because it often has great impact. Therefore, you should look closely. What should be on paper, we tell you here:
* Improved member tax for single or multiple damages. Enhanced protection of the hands or eyes may make sense.
* Capital Suffrage: 65 years in the insured usually only one pension, no principal payment. Good contracts make the customer the choice entirely, or at least up to the 75th Year of life.
* No limitation of performance in sport or professional activity in a claim.
* Hedging diving health damage (eg caisson disease, eardrum injury, drowning or suffocation under water).
Friday, August 13, 2010
Wednesday, August 11, 2010
Investor Protection
...They shun the light
A law should control the risky fund closed at last, and protect investors better. The industry defends itself
Grey can be a dark color, not for nothing that one part of the financial industry will be named after her: the gray capital market. One area that is completely unregulated, not subject to supervision and in which the provider can make on the whole, what they want. The primarily use some closed-end funds from brisk. Change to this, the Investor Protection Act, the federal cabinet would decide, really long time. If it were not this dispute between two ministries there. Finance Minister Wolfgang Schäuble (CDU) wants to oversee the gray market stronger, Minister Rainer Brüderle (FDP blocks from). The case is dramatic, and the damage was in the end - the investor.
Ad
On the gray market reputable financial products circulate alongside highly dangerous. Both galore: About two million Germans have invested € 164 billion in closed funds. But because neither the products regulated their sale will, investors often know only after years, which of them are good and which are bad.
Consequently, savers have already lost billions on the gray market, warn consumer protection. To the same conclusion, a report was commissioned by the Ministry is of consumer September 2008, which states: "The poorly regulated capital market a unique gray that exists in this form in any other EU country. It is characterized by products with high risks and by a variety of abuses. Is still advertised with the seal of retirement savings, high financial losses for large groups benighted investors are foreseeable. "The study classifies half of the 373 fund promoters in the gray market as an unserious.
In this dubious fund, not put half of the investors' money. But they are only the tip of the iceberg, says lawyer Peter Mattil investor who is involved as an expert on legislative procedure. Spectacular cases in which collapsed as a serious force funds, there were plenty. Most recently, the collapse of the Gottingen group 2007/08 around 200,000 small savers brought by a total of one billion euros. In the VIP Media Fund is about 400 million euros. "But these are" only the big names who Mattil says, "there are dozens of funds every year, many of whom have never heard all the flopping." Regardless of whether private equity, airplanes, boats, homes or farms - many fund Individual investors are in difficulties, the good the exception.
Closed-end funds
In closed-end funds are an investor binds mostly for 10 to 15 years to a provider, often without a chance to get out early without losses - unlike open-end funds. The investor will become co-entrepreneurs, who will participate in the profits, but also the loss of a wind farm, real estate project or container ship. As co-owner of the savers will stick to the debt, which makes a fund manager
Should it not be in the interest of politicians to put the money burning the craft? Especially since the funds are tax-saving models. In the Treasury bill therefore states: "In the gray area will be extended in future regulatory instruments which are already standard in the regulated area. These include the regulatory requirement to advise investor has, disclosed commissions and to conduct a consultation on a log. "Alternatives? "No".
Preparation is the law in the intermediaries who sell the fund because of high commissions, often without regard for consequences. And without mentioning that closed-end funds are much riskier than regular mutual funds. For them the savings that is personally liable. The treacherous is the margin requirement: If a fund is broke, threatening the investor that he must pay for the debts of the initiator. Mattil lawyer currently fighting for a client who invested 30,000 euros in a wind farm and is now nachschießen three million euros. No exception, he says, and one reason why in other European countries, only institutional investors such as pension funds or insurance companies can invest in closed-end funds and not private people.
Vulnerabilities acknowledges indirectly even their own association, the VGF, reaffirmed its chief executive Eric Romba: "We stand as a dressing for a regulation of the market because we see a benefit is to improve the quality." At some point he asks a lot more control and wants "a reasonable investor law." Just not the currently discussed. Significant is the criticism of the vote Brokers Association, the plans "wrong and inappropriate, and even calls" middle class "because they are" aggressively against the professional group of independent service providers, "used.
Tuesday, August 3, 2010
insurance brokers
An independent insurance broker is a person who is licensed by the department of insurance in the state (or states) where he or she conducts business. Licensure generally involves passing a written examination to show that the person meets minimum standards of knowledge regarding the business of insurance.
Independent insurance brokers are typically parties to contracts with several insurers by which the broker is authorized to write business (i.e., policies) for that insurer. In most states, each insurer files a notice of appointment of each broker with the department of insurance in that particular state. Independent brokers are usually compensated by the insurers they represent through payment of a commission that is a fixed percentage of the premium of each policy sold. This commission percentage may vary with the size of the premium or line of business. For example, insurers often pay higher commissions on commercial lines policies than they do on personal lines policies.
Independent insurance brokers are typically parties to contracts with several insurers by which the broker is authorized to write business (i.e., policies) for that insurer. In most states, each insurer files a notice of appointment of each broker with the department of insurance in that particular state. Independent brokers are usually compensated by the insurers they represent through payment of a commission that is a fixed percentage of the premium of each policy sold. This commission percentage may vary with the size of the premium or line of business. For example, insurers often pay higher commissions on commercial lines policies than they do on personal lines policies.
business of insurance
" The business of insurance differs from most other businesses. Because insurers sell an intangible product—a promise to pay in the event of contingent losses—and because these promises potentially affect so many, the business insurance is regulated more heavily than most other businesses.
role of insurance in the economy
From the complete book of insurance
Insurance. What a pain! Your mortgage lender requires that you carry fire and other perils coverage (i.e., homeowners insurance ) and sometimes even flood or earthquake insurance. Your auto lender requires that you carry physical damage coverage. Under the laws of many states, you are required to carry auto liability and/or no-fault liability insurance, often including uninsured motorist and underinsured motorist coverages.
To many, insurance just represents dollars out of pocket with no benefit. This is an unfortunate attitude. Insurance plays a broad role in the worldwide economy, helping to assure that millions of transactions and other activities, economic and noneconomic, can proceed. Without insurance quotes, local, state, national, and international business would quickly grind to a halt. Lenders would cease lending for purchases of land, buildings, homes, vehicles, or equipment. Without premises liability insurance, a simple slip-and-fall claim could put a small business owner out of business.
Manufacturers could not sell products without liability insurance to respond in the event a defective product injures customers or other users of their products. Absent product liability insurance, a seller of a defective product who has no role in the design and manufacture of the product, could face a ruinous lawsuit or judgment.
The average individual has similar concerns. What are the consequences of an uninsured liability lawsuit—whether rising from an auto accident or a premises insurance claims arising from homeownership question? The answer is often bankruptcy, which can follow a person for a lifetime. It can result in being turned down for a job, being denied credit, or receiving credit only at high interest rates.
The concept of insurance is really very simple. In exchange for the insured’s payment of a relatively small sum of money—the premium—the insurer assumes the risk of financial consequences for the loss of the insured’s property (such as a house or car) or the risk of the loss presented by the costs of defending a liability lawsuit (and where appropriate, paying a resulting settlement or judgment). This can provide financial security for the average consumer—that is you—which strengthens our economy as a whole and spurs further growth.
Insurance. What a pain! Your mortgage lender requires that you carry fire and other perils coverage (i.e., homeowners insurance ) and sometimes even flood or earthquake insurance. Your auto lender requires that you carry physical damage coverage. Under the laws of many states, you are required to carry auto liability and/or no-fault liability insurance, often including uninsured motorist and underinsured motorist coverages.
To many, insurance just represents dollars out of pocket with no benefit. This is an unfortunate attitude. Insurance plays a broad role in the worldwide economy, helping to assure that millions of transactions and other activities, economic and noneconomic, can proceed. Without insurance quotes, local, state, national, and international business would quickly grind to a halt. Lenders would cease lending for purchases of land, buildings, homes, vehicles, or equipment. Without premises liability insurance, a simple slip-and-fall claim could put a small business owner out of business.
Manufacturers could not sell products without liability insurance to respond in the event a defective product injures customers or other users of their products. Absent product liability insurance, a seller of a defective product who has no role in the design and manufacture of the product, could face a ruinous lawsuit or judgment.
The average individual has similar concerns. What are the consequences of an uninsured liability lawsuit—whether rising from an auto accident or a premises insurance claims arising from homeownership question? The answer is often bankruptcy, which can follow a person for a lifetime. It can result in being turned down for a job, being denied credit, or receiving credit only at high interest rates.
The concept of insurance is really very simple. In exchange for the insured’s payment of a relatively small sum of money—the premium—the insurer assumes the risk of financial consequences for the loss of the insured’s property (such as a house or car) or the risk of the loss presented by the costs of defending a liability lawsuit (and where appropriate, paying a resulting settlement or judgment). This can provide financial security for the average consumer—that is you—which strengthens our economy as a whole and spurs further growth.
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