In the competitive market of insurance, brokers are always looking to come to the table with a lower premium then the competitor. One way they do this is by quoting a General Liability policy with a manifestation clause, but not disclosing the clause!
A normal full occurrence policy as long as the work was done during the insured's policy period a claim has up to 10 years to manifest itself and for claim to be filed. However when a manifestation clause is placed on a policy it limits this to the claim must manifest itself with the insured's policy period. If the claim manifests itself after the policy period the claim will not be covered. It basically turns a policy into claims made policy except they can say it’s an occurrence policy and they usually leave out the fact it has a manifestation clause.
Example:
Full occurrence policy without manifestation clause- June of 2007 a plumber fixes a pipe in a residence. August 2007 their general liability policy expires. Sept 2007 the pipe leaks due to being welded wrong the home owner files claim against the plumber’s insurance company and because they were covered when the work was done in June claim is paid out.
Policy with a manifestation clause- June of 2007 a plumber fixes pipe in residence. August their general liability policy expires. Sept 2007 the pipe leaks due to being welded wrong the home owner files claim against the plumbers insurance company and it is denied because of insured's *manifestation clause*. Although the work was done in June and the plumber had coverage at that time, the cause of claim did not manifest itself until Sept and their policy expired in August. If the pipe had leaked in August they "may* have paid claim.
for a free review of your insurance visit us at www.preferredamerican.com or www.clementeinsurance.com
Friday, March 26, 2010
Take a Good College Insurance Package
For this particular reason, you need to gather a college insurance plan for the protection of your own healthcare. There are different sorts of insurance packages and it will vary from one college campus to another. You need to collect the current information and data about pros and cons of the college health insurance package before getting locked into the agreement or contract. One important
Take a Good College Insurance Package
For this particular reason, you need to gather a college insurance plan for the protection of your own healthcare. There are different sorts of insurance packages and it will vary from one college campus to another. You need to collect the current information and data about pros and cons of the college health insurance package before getting locked into the agreement or contract. One important
Take a Good College Insurance Package
For this particular reason, you need to gather a college insurance plan for the protection of your own healthcare. There are different sorts of insurance packages and it will vary from one college campus to another. You need to collect the current information and data about pros and cons of the college health insurance package before getting locked into the agreement or contract. One important
Thursday, March 25, 2010
The Ultimate Love Letter!
LIFE INSURANCE ISN’T FOR YOU.
IT’S FOR THOSE YOU LOVE.
We often don’t think of ourselves as an asset, but in fact, we are likely the most important asset our family has. You have business, auto, homeowners, and health insurance. Have you considered how your family would be affected from not only losing you, but from the loss of income you provide them on an ongoing basis.
We often don’t think of life insurance in those terms, but the truth is if we were gone tomorrow, your families would not only suffer a tragic loss, but we would no longer be there to provide for them… ever. Life insurance can give you peace of mind knowing your family is able to go on living in the home you lived in together, your kids can go to the college you’d always talked about them attending, and they may not have the lasting financial hardship that can devastate an already suffering family.
IT’S FOR THOSE YOU LOVE.
We often don’t think of ourselves as an asset, but in fact, we are likely the most important asset our family has. You have business, auto, homeowners, and health insurance. Have you considered how your family would be affected from not only losing you, but from the loss of income you provide them on an ongoing basis.
We often don’t think of life insurance in those terms, but the truth is if we were gone tomorrow, your families would not only suffer a tragic loss, but we would no longer be there to provide for them… ever. Life insurance can give you peace of mind knowing your family is able to go on living in the home you lived in together, your kids can go to the college you’d always talked about them attending, and they may not have the lasting financial hardship that can devastate an already suffering family.
Friday, March 19, 2010
Health Insurance For Tourists
Your current health insurance plan may leave you with expensive medical bills for injuries and illnesses that occur while traveling abroad due to network restrictions. If your plan doesn't cover incidents that occur internationally, then you'll want to be sure to purchase tourist insurance before departing.With insurance companies adding more restrictions to where and who policyholders can get
Health Insurance For Tourists
Your current health insurance plan may leave you with expensive medical bills for injuries and illnesses that occur while traveling abroad due to network restrictions. If your plan doesn't cover incidents that occur internationally, then you'll want to be sure to purchase tourist insurance before departing.With insurance companies adding more restrictions to where and who policyholders can get
Health Insurance For Tourists
Your current health insurance plan may leave you with expensive medical bills for injuries and illnesses that occur while traveling abroad due to network restrictions. If your plan doesn't cover incidents that occur internationally, then you'll want to be sure to purchase tourist insurance before departing.With insurance companies adding more restrictions to where and who policyholders can get
Review of Banks' Q1 2010 Earnings
Scotia Capital, 19 March 2010Strong Earnings, Ahead of Market Expectations• Canadian banks reported another quarter of strong operating results. Bank earnings again exceeded Street expectations for the fourth straight quarter, thus further confirming that the bottom in operating earnings this cycle was Q2/09, which coincided with what we believe was peak quarterly loan loss provisions. Operating
Friday, March 5, 2010
TD Bank Q1 2010 Earnings
Scotia Capital, 5 March 2010• TD reported an increase of 26% YOY to operating earnings of $1.60 per share, above expectations. Earnings were better than expected due to strong results from Canadian P&C and Wholesale Banking with credit quality stable. ROE was 15.5% with RRWA very high at 2.88%.Implications• Canadian P&C earnings were a record, increasing 23% YOY with revenue growth of 11% aided