Friday, May 31, 2013

Unsecured Tenant Loans-cover Your Financial Risk With Ease

Need to solve your economic queries but don’t have adequate finance? Your tenancy status is creating more troubles in availing an external loan help due to unable to place any security? Now with the availability of unsecured tenant loans in the financial market, being a tenant is no more a bone of contention for you to get financial assistance. These loans are designed for the tenants who are unable to pledge any security. This loan service is for you without any compulsion of collateral pledging.

You can simply balance your monthly expenses and requirements by applying with unsecured tenant loans with ease. The loan money one can avail with these loans can be varying from £1000 to £25000 with the flexible reimbursement period of 1 to 10 years. To avoid being charged with extra penalty charges, make the repayment of loan within the stipulated time period. Moreover, you have the freedom to utilize the loan amount for any of the reason such as:

-Purchase a car of your own
-Pay off the previous debts
-Go for an exotic vacation
-Bank overdrafts
-Throw a grand party etc.

To overcome your financial problems skillfully, council tenant loans is the feasible financial solution. If you have various blemished credit records in your account and facing bad factors like arrears, defaults, bankruptcy, insolvency, foreclosures and so on, you are still applicable. The lenders of these loans avail you the required amount despite of your poor or imperfect credit records.

Its unsecured nature does not demand any collateral from you. Removal of collateral pledging makes the application and approval quite easy and quick without any property paper work and collateral assessment procedure which takes a long.

Unsecured tenant loans can be termed as a safe and risk free loan form available to you with ease of online method. You just require completing a single online loan form with few personal details. The lender will approve your loan application and the loan money will get submit in your checking account within least possible time. Search an affordable loan deal comparing various loan quotes.

Tuesday, May 28, 2013

What To Know About Debt Consolidation In Connecticut

Sometime situations can get out of hand faster than you realize particularly when trying your best to establish and stick to a budget to manage your money economically. In life there are various things that happen out of the blue such as hours at work get cut, your automobile breaks down, a medical emergency occurs and much more. No matter how hard you work, before you know it you could be drowning in a massive pile of debt, unable to breathe as you're suffocating in all the responsibilities. The lifeboat that can help you survive life's more demanding moments could be debt consolidation in Connecticut. While it may not solve all of your financial problems as quickly as you’d like, it will certainly give you the relief that you desperately need.

If you have multiple debts that you have to take care of then you would be a candidate for debt consolidation. After signing up for a program, the interest rates for your debts will decrease and it’ll be that much easier to pay them off. Money you are saving on interest can be put toward the debt repaying it sooner. Contingent upon your current situation, you could be a perfect candidate for a debt consolidation program. If you’ve compounded a number of payday loans, you might want to consider signing up for a debt consolidation program. Payday loans can quickly become another quagmire that you find yourself trapped in month after month, so you’ll want to get out as soon as possible. Any kind of debt can be described as a distraction and a stress that takes away from other commitments. If you aspire to live a certain religious lifestyle, you may want to see if there is debt consolidation in Connecticut designed just for you and your special religious beliefs.

There are also debt consolidation loans for you to think about. You’ll need to make sure that you secure a large enough loan to cover all of your debts at the same time. You’ll either acquire a secured loan or an unsecured loan. A secured loan will often be required if the debt is higher than $10,000 and that requires something to be put up as collateral should you default in any way. An unsecured loan is one where it just requires a signature and a promise to pay from you. A debt consolidation loan is perfect because the amount you pay monthly is less than paying off individual debts that is definitely great. You might also want to think about consumer credit counseling. Typically a lot like debt consolidation, you will be working with a credit repair professional who then contacts any and all creditors and gets a reduced rate of interest on your debt. Able to properly work with you in establishing a plan for eliminating debt, a consumer credit counseling service can structure your expenses in a more manageable way.

Debt consolidation in Connecticut does offer another alternative which is to transfer the debt to a 0% interest credit card. Any debts with interest rates that happen to be 20% or higher can be transferred to the new card in the event you are eligible for this type of card and there will be no interest accrued for six to Eighteen months. While debt consolidation will not work as quickly as you’d like it to, it can free up your finances so that you can concentrate on other things in your life and not have to endure the never-ending telephone calls and letters from creditors. You’ll discover that you can not only consolidate your debt, but your sanity also.

Monday, May 27, 2013

Why Should Accountants and Bookkeepers Get Errors and Omissions Insurance?

A common misconception is that doctors and lawyers are the only professionals in need of Errors and Omissions (E&O) insurance. In fact, nearly every organization that provides a service to a client for a fee has E&O exposure, and because professional requirements are broadly defined in legal terms, Professional Liability insurance shields businesses from the unforeseen.

Errors and Omissions insurance, also known as Professional Liability Insurance, protects organizations or individuals against claims of professional negligence throughout a variety of professional services. This includes errors or omissions that the company actually made or that the client perceives were made. Errors and Omissions claims are not covered by General Liability insurance.

Insurance for Tax Preparers

Errors and Omissions insurance is particularly important for Certified Public Accountants, bookkeepers and tax preparers. Every year, in the U.S., thousands of suits are filed against tax preparers and bookkeepers, and, in the wake of nearly every corporate scandal, new lawsuits arise.

For bookkeepers, tax preparers and accountants, the tax and audit landscape is constantly changing. Clients rely on these professionals to be up-to-date and accurate, but no matter how polished a tax preparer or accountant is, and regardless of how seamless their risk management procedures are, mistakes will happen.

For instance, if a client is audited on their tax return, and there is in fact an error resulting from a simple miscalculation on the tax professional's part, the tax professional would be held responsible for any IRS-assessed penalties and interest the client was charged. Also, if the preparer overlooked or failed to include information provided by the client, they would also be at fault. Even if a client failed to provide a piece of information to the tax professional and then filed a frivolous suit, the tax preparer would still have to pay potentially exorbitant legal fees to defend themselves.

Even the most minor mistakes can cause substantial problems for clients, and without Errors and Omissions insurance for tax preparers, a firm or individual would likely not be able to survive even a single claim brought against it.

Bookkeepers Require Coverage Too!

Likewise, bookkeeper Errors and Omissions coverage would protect the bookkeeper in similar situations where figures might have been miscalculated or information was omitted, regardless of whether or not it was their fault or their client's fault.

History has shown that when a major corporate scandal is uncovered, racketeering lawsuits against accountants typically increase. According to an article published by the Manhattan Institute for Policy Research, during the late 1980s, in the midst of the Securities and Loan debacle, damage claims against accountants were estimated to be between one and four billion dollars - a figure that was purported to exceed the net capital of all accounting firms combined (Lawson & Olson). While some were involved in ill doings, others were reputable professionals. While a litigation onslaught of this magnitude may never be repeated, it is a risk that E&O insurance for accountants will safeguard against.

Most E&O policies will cover judgments, settlements and defense costs, even in cases in which the allegations are found to be frivolous. Without Errors and Omissions Insurance, the cost of paying settlements and court fees would leave many bookkeepers, accountants and tax preparers in extreme debt, or even bankruptcy.

Friday, May 24, 2013

Understanding Stock Exchanges

The New York Stock Exchange (NYSE) is the largest and one of the oldest exchanges in the world. Founded in 1792 the NYSE is valued at nearly $13 trillion dollars. The NYSE is located on Wall Street and is the actual stock exchange that most people think of when they picture Wall Street trading. It has been featured in many films and is one of New York's largest tourist attractions. The NYSE operates in a auction-style modem with investors buying and selling stocks on the actual floor of the trading room.

NASDAQ

NASDAQ isn't a stock exchange exactly. It is actually a computerized version of an exchange dealing mostly in securities. Many companies are traded on the NASDAQ. The NASDAQ exchange is also located in New York and was the world's very first electronic market. NASDAQ has merged with the LSE, the AMEX and in 2007 acquired America's oldest exchange, the Philadelphia Stock Exchange. NASDAQ is one of the world's largest electronic stock markets. There are more than 3,000 companies listed and trading on the NASDAQ exchange.

AMEX

AMEX, or the American Stock Exchange has become the stock market for smaller companies. It used to be one of the main players in the exchange world but has since been relegated to a back seat position. After the Civil War AMEX was referred to as the New York Curb Exchange because traders operated and traded on the New York City streets.

The American Stock Exchange has passed through many hands over the last twenty years. It has been purchased by NASDAQ, merged with the NYSE Euronext market and had some of its electronic information integrated into other markets as well.

Foreign Exchanges

There are stock markets and exchanges all across the world. The only real requirement for a stock exchange to operate is that there must be publicly trading companies in willing to buy and sell stock.

Some investors prefer to trade in foreign markets because of the high price of the dollar. There are many stories of huge returns in foreign markets and for this reason many investors leave the American exchanges in hopes of doing better in the foreign markets.

It is important to remember that many foreign companies actually trade in the American exchanges as well. It is possible to trade in foreign companies without ever leaving a domestic market.

Many mutual funds also implement foreign stock into their portfolio. This stems from the idea of currency capitalization.

Now that you have had a brief overview of the different exchanges, you can now more easily differentiate between the major exchanges. Knowing how the markets work is an integral part of any investors arsenal.

Wednesday, May 22, 2013

Short Term Loans: Overcome Sudden Financial Problems

Is your financial need a small and requires quick attention? But you have no funds to sort this unplanned expense which is bothering you? Well stop worrying about such a small problem because there is an instant solution to it. Short term loans are a great financial help that can be trusted for small financial problems at any time. The cash amount is provided easily on time without asking you to meet heavy formalities.

Are you facing impaired credit records like arrears, CCJs, bankruptcy, missed payments, defaults and IVA? Now, there is no need to worry about your bad credit because there is no credit check required.

Short term loans are an ideal financial solution that allows you to sort your urgent financial needs easily on time. You can borrow anything varying from £100-£1500 for a term of 2-4 weeks. In case if you are unable to meet the repayment on due date then you can roll over the term by paying additional amount.

Being short term loans these funds are offered at slightly higher interest rates as compared. By entailing short term loans you can easily fix up your small and sudden financial needs on time. With the borrowed funds you can pay off your car repair expense, pay for medical treatment, library fee, credit card bills, house rent or other such financial obligation can be easily met.

You can quickly get the loan approval if you fulfill the pre requisite condition. In order to qualify you must be 18 years of age, must have a valid bank account and must be earning a regular source of income. If you fulfill all the above requirements then you can get the approval within a short time span.

Short term loans are an instant relief to your problems as they get approved in less time. No credit check is done; no need to fax documents and no paperwork is required. The cash amount is easily transferred to your bank account.

Saturday, May 18, 2013

How To Sign Up For Winoptions Rebates Or Zoneoptions Rebates

It is a fact of modern living that one never has enough income. With all the bills to pay and expenses that have to be met, even families where both husband and wife work and earn incomes could always use more money. That is why many people have made the decision to turn to alternative sources of income. While the traditional wisdom is that working long enough and hard enough will eventually get you to a position in a company where you earn a respectable income, that does not mean you cannot utilize other methods of earning more income simultaneously. Signing up for WinOptions rebates or ZoneOptions rebates is one excellent way of earning that second income stream.

Both WinOptions and ZoneOptions are binary options brokers, specializing in enabling people to trade in the financial products known as binary options. While most people are familiar with stocks, which are also a form of financial product, most are unfamiliar with binary options. Binary options are basically a financial product which has a value that is based on an underlying asset. For example, the value of a particular binary option might be based on gold. Unlike stocks, which have varying prices at which you can either sell or buy, binary options have only two possible outcomes. You either earn a certain percentage on the value of the underlying asset, or you get nothing at all. In that sense, you can only win or lose completely with binary options.

Income Supplement

With sufficient information and experience, trading in binary options can be a rather profitable venture, and many people have added a significant stream of income to their regular earnings by means of trading in binary options. The challenge lies in being consistent with your trading activities, and learning the ins and outs of binary options trading. With enough time and effort, you will learn to recognize the patterns and trends that will allow you to make winning decisions more often than not.

A Crowded Field

The field of binary options brokers has grown very crowded in recent years, with many new brokers being started to cater to the rising number of binary options traders. With so many new brokers, however, individual brokers have had to come up with creative methods of differentiating themselves from other brokers and attracting more customers. Most have chosen to spend more money on advertising.

This led to the creation of broker databases, which were websites that kept track of the various brokers and allowed potential customers to browse through the various brokers all in one place. In return, the databases would funnel interested customers to the brokers, and receive a commission for each successful new sign-up. When this field also became competitive, some of the best databases began offering rebates for customers who signed up through them. The customer would sign up with a broker, the broker would pay the database a commission, and the database would share that commission with the customer. This is an extremely attractive offer, and is how you can go about getting WinOptions rebates and ZoneOptions rebates when you sign up for your binary options broker account.

Thursday, May 16, 2013

How To Shop For No Win No Fee Solicitors Online

If you encounter an accident that results in bodily harm that is not of your own doing then you will immediately want to begin seeking out no win no fee Solicitors to handle your case. The moment that you encounter any type of accident you will want to do this immediately. Otherwise you could miss your filing date and be unable to file your claim. You are limited by time when it comes to how long you have to file your claim. Therefore, the moment that such an accident arises, no matter what kind it may be, you need to file a no win no fee claim with a professional that has years of experience when it comes to handling the type of claim that you are dealing with.

Whether you were in a car accident which was not your fault or were involved in a work related accident you can’t afford not to seek out the very best no win no fee Solicitors the moment that such an accident occurs. If you put this off you could end up having to pay your medical bills on your own and will not be reimbursed for the time that you had to take off work due to your accident.

The best way to go about choosing a Solicitor that can provide you with no win no fee claim services is to immediately take your search online. You want to do this so that you can determine what options are available to you. There are numerous lawyers in your area. You must now carefully determine which one is the very best for you and which ones actually specialize in the type of case that you have.

By doing this with the assistance of the internet you can quickly compare your options and figure out which options will save you money, which ones have the experience to handle your case, and which ones actually specialize in this area. The more expertise that they have the better your chances will be at winning your case.

One thing that you want to do is avoid any Solicitors that charge fees up front for their services or that charge high percentages in the event that you win your case. This is of great importance. Chances are that you don’t want to end up overspending and want to ensure that when you do win your case that you are able to keep the highest amount of your winnings as possible.

The second most important thing to consider is the level of experience that they have and what type of expertise that they have. Expertise is vital. For example if you are filing a slip and fall claim you will want to be certain that the lawyer that you hire has had experience in this area and that they have a track record for winning these types of cases.

Keep these things in mind and you will save yourself from all sorts of problems when it comes to finding the very best Solicitor.

By: Vikram Kumar

Article Directory: http://www.articledashboard.com

Are you looking for the best No Win No Fee Solicitors ? If so you should turn to the experts at No Win No Fee Solicitors to file your No Win No Fee Claim .

Monday, May 13, 2013

Business Loans With Bad Credit: Not The Only Financing Options Worth Considering

For every business owner, it is a major challenge to get approval on a business loan with bad credit. The economic climate makes life difficult for many small businesses, with lower consumer spending and growing pressure from lenders to maintain existing loan repayment schedules. But there are alternative options.

Whether keeping your business afloat or starting a new business, there is finance available from lenders. But while approval is down to the strength of your application and, ultimately, the decision of the lenders, the type of financing sought is down to the applicant. The key choice is between a loan or a line of credit.

Of course, when dealing with business loans or other financial packages, there is no such thing as a nominal amount of money. Getting things started or keeping an operation going requires real financial help, so sums of $100,000 and more are needed. But there are options to securing this kind of funds.

Getting a Startup Loan

Research is always important when approaching a lending institution with the intention of securing a business loan with bad credit. The principal concern is that, whether going to a major bank or a large private lending firm, the relationship will be long term. So, it is best to get all the facts necessary before deciding on a deal.

The main issues that need to be agreed upon are interest rates, repayment schedules, and any additional options that can be activated in the future should the task of repaying the loan become more challenging than expected. It is also worth asking about taking a line of credit instead of a loan to see if their terms are better.

When it comes to approving a business loan to finance a new business however, most lenders are very open to the idea. But they will still want to know the personal credit history of the applicant, as well as details of any previous business experience.

Choosing a Line of Credit

Getting a business loan with bad credit is not always the best option. Certainly, once a loan is approved the pressure to meet the agreed repayment schedule begins. It is not such a comfortable position to be in when starting out, or even developing revenue potential. It is, therefore, worth considering an alternative.

Agreeing a business line of credit can work to your advantage better. This is where a bank agrees to a maximum sum but only interest is charged on the actual amount of funds spent by the borrower. If, for example, $100,000 is granted and the borrower spends just $60,000, then interest on that $60,000 is charged. The balance can be accessed whenever necessary.

What this means is that interest payments can be kept lower than with a straightforward business loan. This is because no interest is charged on the remaining $40,000 until it is spent, while interest is charged on the full loan amount.

Other Key Considerations

There are some other aspects that should be considered before seeking a business loan with bad credit. Not least is the fact that, because of a low credit rating, the interest rate charged on the loan will be high. So, the size of the repayments each month can be quite high too.

The alternative option allows for interest repayments to be kept under better control, if the borrower can control spending initially. Therefore, securing a line of credit is a much more cost-effective.

For this reason alone, more and more businesses are favoring this option ahead of the all out business loan. However, it is essential that the specifics of both options are discussed in detail before agreeing between one of the other with your lender.

Friday, May 10, 2013

Wordpress Tips For Effective Search Engine Optimization

Wordpress is an excellent content management system that you can utilize for your website. It is commonly used by entrepreneurs and internet marketers in hosting different websites. This is because it is convenient to use and can also be easily utilized for search engine optimization. There are thousands of Wordpress tips about search engine optimization available today in many forms. While some are free tips offered by expert internet marketers, there are also some that are to be paid, which are mostly available as eBooks. Even someone relatively new to this site can easily get the hang of everything, including SEO with these helpful tips and tutorials.

For search engine optimization, it is extremely important to install all the necessary plugins. There are thousands of plugins available that you can activate and install for your website. Each offers their own functions such as protection from spam and viruses. There are also specific plugins that can help increase your visibility with the search engines. There are even several of these plugins that are especially generated to make search engine optimization easier. Most of these plugins would check whether you are practicing perfect SEO strategies since they provide checklists. However, most of these SEO plugins are not available for free, but it is highly recommended that you install them into your Wordpress site.

An appropriate theme should also be chosen and on-page SEO must be practiced. Your keywords must be utilized in many areas of Wordpress such as in the URLs, in the title tags as well as in the headings and in the meta tags. The keywords should also be in the meta description. However, taking a part of the content to be used on the meta description is discouraged. Wordpress tips regarding on-page SEO also reminds web developers to include high-quality content with keywords at a recommended keyword density.

Utilizing Wordpress and Search Engine Optimization also requires the keywords to be bold, italicized and underlined at least once in the content. It would also be ideal to add the keyword on the very first and last sentence of the articles. Alt texts containing the keywords should also be included in posting images relevant to the content. This is the only way for search engine spiders to identify the relationship and relevance of the image to the search phrase keyed in by the users.

Including a video in the contents of your Wordpress site relevant to the keywords you’re targeting is also a great idea. Aside from all of these, it is also highly recommended to add basic pages such as the contact page and privacy policy page for the benefit of the site visitors. And then you’ll have to build links to your other pages and collect links to your site from external sources as well. There are many other Wordpress tips available for effective search engine optimization. They may vary according to different sources and it’s important to know which tips work best before utilizing everything into your website. You can learn more about the effectiveness of such tips through various feedbacks of users who tried it for themselves.

Wednesday, May 8, 2013

What You Need To Know About Product Liability Insurance

These modern times, people are now very litigious of anything minor or major. That is why there is great rise of the several types of liability insurances in the market to help business owners. One of these insurances vital for a business proprietor is the product liability insurance.

Product liability insurance protects the business and its owner from claims related to the sale and or manufacture of any type of products such as food, medicines, and other goods. This type of liability insurance, however, may not cover the financial losses of the owner or its business due to faulty products that they manufactured, produced and/or supplied to the public.

If a business or company supplied a faulty product, the claimants may try to claim from them first, even if they did not manufacture the product. The enterprise involved will be liable for the compensation claims if any of the following occurred: the business' name is labeled on the product, the business repaired, restored, or changed the product, the business imported it outside the country, the manufacturer cannot be clearly identified, and the manufacturer closed the business.

If not the business itself is liable, then most probably the manufacturers are. Even so, the business should show and prove any or all of the following: the products were faulty or damaged when supplied to them; consumers are given sufficient safety instructions and warnings regarding its misuse; consumers are given conditions for return of faulty or damaged goods to the manufacturer; the business has a supply contract with the manufacturer that covers safety, quality control, and returns of the products; and the business have good quality control systems and record-keeping systems.

There are also cases wherein there is a so-called firing line for claims on product liability. The first in line is the producer or manufacturer of the product. Next in line is the person or business that placed their name or mark, declaring to be the product's producer. Third in line is the person or business who imported the product. It is followed by the person or the business who recondition the product. The last in line is the person or business who supplied the product.

Just like any other professional liability insurance, product liability insurance is not obligatory in law. Yet, every manufacturer, supplier, and retailers should and must protect themselves from the perils of liability claims screwed to them if ever defective products injured any consumer. After all, it is their responsibility to provide the public with quality and safe products.

Monday, May 6, 2013

The Purpose Of Getting A Company For Fund Administration.

In this day and age, one of the main challenges of starting a new business is getting the capital investment together. It is true that there are some large companies around today that started in a garage or a dorm room and you could probably name them easily. These exceptions to the rules is not the number of companies start off nevertheless. Most often, small businesses need start-up cash and it winds up being far more than they anticipated needing. If you have friends and family willing to make donations to the cause, then so much the better but sometimes that is just not possible and you have to bring in outside investors. With outside investors there will likely be a great deal of documentation and legal wrangling, if this is the only option available to you and your start up needs. In this case, you would probably be smart to hire a professional to create and maintain your investment fund and manage the tasks associated with fund administration.

No matter what type of business you're interested in starting, most likely not a great deal of people will be professional financial wizards. You may be a great baker or a fantastic software designer and maybe you have even taken a business class or two to familiarize yourself with basic bookkeeping techniques. But that in no way prepares you for maintaining an investment fund of any volume. In order to be on top of any fund administration, things like income tax, notifying investors of their dividends, paying out dividends and so forth have to be handle effectively and properly. You open yourself up to potential lawsuits if errors happen in any one of these vital areas, where investors would complain and it could escalate into issues with the us government, is not something any business entrepreneur would wish to face. You might want to forego paying for a professional to help you when you are already struggling to get your business off the ground, but the cost of paying for professional fund administration will be small compared to the potential issues if you do it by yourself.

There are businesses available to assist you and will establish these types of funds fortunately. The process is often a complicated one. So you are not struggling years down the line trying to correct errors, the funds should be set up properly and all the necessary paperwork filed properly. These companies will help you select how to categorize the fund within the regulations of the tax code, how to offer it, how to get investors, and so forth. Getting them right at the beginning of the process is probably recommended since that would mean they can help you with every step along the road of getting your investment fund set up.

These firms will then also help you by administering the fund appropriately, making sure that it continues to grow and that all of the necessary reports and records are sent, kept, filed, copied, and archived. Any correspondence needs have to be maintained frequently with your investors and the legal requirements involved with these kinds of funding. With the frequent changes to the tax system and the financial sector, always keeping up with the rules and regulations, even if you have a full-time accountant, would be extremely difficult. Avoid headaches and save money by finding a professional fund administrator to keep you in compliance and allow you to focus more on the business at hand of running a profitable company.

Friday, May 3, 2013

Claims-Made Vs Occurrence - Types of Medical Professional Liability Insurance

In addition to homeowners insurance and auto insurance, medical professionals like physicians and surgeons often require medical professional liability insurance. Professional liability insurance, also referred to as medical malpractice insurance, protects them against loss resulting from acts, errors or omissions in their performance of professional duties.

When purchasing medical professional liability insurance, physicians have two options-claims-made policies or occurrence insurance. Deciding between claims-made and occurrence may not always be easy, so it's crucial to consider the important points that pertain to each type of coverage to determine which will best suit your specific needs.

Claims-Made Policies

- Increased limit of liability - Physicians have the opportunity to increase their limit of liability, which determines how much their insurance company will pay to settle a negligence claim, and how many claims it would settle in one policy period. Considering that many doctors feel more comfortable with higher limits, an increased limit of liability can determine whether a claims-made policy is right for you.

- Discounted premium - Claims-made policies offer an initial cost savings for the first four years. This is because insurance companies understand that the chance of a claim being filed during the first few years is slight, but increases over time. The premium will gradually increase each year until the coverage becomes mature at five years and the odds of a claim being reported is much greater.

- Tail coverage - Since claims-made policies provide coverage only if the claim is first reported or filed during the policy period, physicians may need to purchase tail coverage to protect against claims made after the policy period ends. Medical professional liability claims often take a long time to develop, so a physician may not receive notice of the claim until years after the incident in question occurred. For instance, if a physician retires, allowing his/her insurance policy to end, and a claim comes in six months later, he/she will require tail coverage to protect against the claim.

- Possibility of free tail coverage - There is a chance that the physician will not have to finance the cost of tail coverage, since many medical professional liability insurance companies provide a free tail to a physician that has been insured with the same company for a specified period of time and has complied with the insurer's provisions. Many insurance companies also offer free tail coverage to retiring physicians aged 55 or older who have been insured with them on a claims-made basis for the five years proceeding retirement.

Occurrence Insurance

- Coverage is permanent - Occurrence insurance protects against claims resulting from incidents that occur during the policy period, regardless of whether the policy is still in effect at the time the claim is made.

- Avoid purchasing tail coverage- Since occurrence coverage is permanent, physicians can avoid the cost of tail coverage. Financing tail coverage can be quite expensive, costing up to 200% of the premium depending on the insurance company, so avoiding the cost of a tail may determine whether occurrence insurance is right for you.

- The insurance company's financial stability must be secure - Considering that occurrence insurance is permanent, it's necessary to have complete confidence in your insurance company's finances. Medical professional liability insurance claims can take years to develop after an incident occurs, it's important to feel secure that your insurance company will still be in the position to protect you years after purchasing occurrence insurance.

- Limit of liability remains unchanged - Unlike claims-made policies, the limit of liability at the time of purchase is the limit you will have when a claim is made, which is typically 3 to 5 years after the incident occurs.

There are many important points to consider when deciding between claims-made policies and occurrence coverage. Contacting a trusted professional liability insurance agent is the best place to start.

Thursday, May 2, 2013

Professional Liability Insurance

When professionals are hired, they are done so with the belief that they have the necessary expertise and knowledge to carry out the task to the best of their abilities. Added to that, there is a certain code of conduct they are expected to abide by while doing their jobs. When professionals fail to meet the standards desired of them and their skill levels fall much below expectations, they are liable to be taken to court for the loss they inflict upon the business of another person. Thus, they need professional liability insurance. Professional liability insurance is termed "errors and omissions" liability, when liability is confined to acts of negligence.

Professional liability insurance is an independent and specialty coverage. It is not provided under business owner's policies or homeowner's endorsements. Professional liability coverage covers its client against damages from claims of suspected negligent acts, errors or omissions in performance of the client's professional performance, etc. This could include a plethora of issues like software or system failure, loss of client data, non-performance, etc. Professional liability insurance coverage also includes the legal defense cost. The costs it covers, including court costs, are restricted to the coverage limits in the client's insurance policy.

There are different types of personal liability insurance coverage. Personal injury covers the client against claims of slander, libel and invasion of privacy. Intellectual property infringement coverage covers the client against claims of copyright infringement. Software processes and systems are commonly termed "intellectual properties." Also, worldwide coverage is provided if the suit is bought in America.