Global Insurance Industry

by: Djai Tanji

Generally, standard health insurance plans are not designed to cover extended periods of international travel. If you are going abroad, tell your insurance company how long you are planning to stay overseas and the countries you will be visiting. Travel insurance is the appropriate solution for some travelers. But this travel insurance only offers limited coverage which is normally for no more than six months. You may want to look though into expatriate health insurance if you think you will be staying abroad for more than six months. It is the most comprehensive insurance available. It can even be customized in many ways.

by: Djai Tanji

At some schools, college health insurance plans may be subsidized by tuition though it is not subsidized by the student’s spouses or dependents. And all this can save the parents, money. The benefits of a college health insurance may vary from college to college dues to state laws and marketing factors, and of course it is not free. Health insurance companies meet with committees from different schools to design a plan which is particularly customized to the school’s students. There are times that health insurance plans may limit preventative care but there are free services offered at the health center.

by: Djai Tanji

Before you retire, see if your medical expenses will be effectively covered in retirement. Medicare coverage required you to meet specified deductibles before coverage starts and you must pay substantial co-payments for many types of medical treatment. It does not offer a prescription drug benefit. So you should consider purchasing a supplemental medical insurance policy called Medigap which is specifically designed to fill the gaps in your Medicare coverage. Medigaps are standardized and regulated by state and federal law even though its policies are sold through private insurance companies. Medigap policies pay most of your Medicare coinsurance amounts and some also provide coverage for deductibles and services not covered by Medicare.

Although factory fitted in-car entertainment systems have become more advanced, there’s just as much scope for adding and improving as there was ten years ago. It’s inevitable that car manufacturers have one eye on the final price tag of the vehicle and so, while incorporating some kind of an in-car system is a must for the car’s sales features list, don’t expect too much.

IFRS is International Financial Reporting Standards that all public companies in the European Union must follow starting from the year 2005. This is much more than just a technical issue and, based on the current proposals, will result in fundamental changes to the way in which the industry does business. The global insurance leadership team of PricewaterhouseCoopers is sponsoring a programmed of client seminars and briefing papers on the key commercial and technical challenges, delivering the information the industry needs to respond to the IFRS revolution.

by: Djai Tanji

A short-term health insurance normally provides a coverage for 30 to 180 days although there are plans that will cover you initially until 12 months. You can renew the plan if your short term need runs longer than the coverage but do not expect extension after a year. Mostly, a short term plan covers you during accidents or a sudden illness. It has benefit limits and it is mandatory to cover an initial deductible and to make co-payments. Of course you shall be allowed to choose your own set of doctors, hospitals or other health-care providers. You can submit your mail over the internet for application and payments can be made through check and credit card.

The world has witnessed an increasing concern about foreign insurers’ participation in domestic markets. In response to this, a paper has been made to study the role insurance plays in a country’s economic development. It outlines seven ways in which insurance benefits economic development: it promotes financial stability, substitutes for government security programs, facilitates trade and commerce, mobilizes national savings, helps manage risk more efficiently, encourages loss mitigation and fosters a more efficient capital allocation. It also concludes that foreign insurance enhance overall social welfare and carry only few unresolvable problems.

Read the paper here

Al Gore’s allies continue to enlist the insurance industry in the global warming alarmist army. On the other hand, Ceres, a coalition of left-leaning institutional investors and environmental activists, comments: “Affordability and availability of insurance are already at risk from rising weather-related losses” They add: “future financial exposure for insurers, state and federal governments, businesses and consumers could worsen if climate and business trends continue.” These ‘global warmers’ plan to lure insurance companies into supporting global warming regulations that reduce natural disasters and financial exposure resulting from policy claims. Insurance companies might also seek compensation for financial losses from energy, automobile and other industries blamed by environmentalists for global warming.