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This site contains information about hundreds of insurance companies. Everyday, we are looking for hand-proven companies to help you with insurance at home and around the world. We deal with car insurance, real estate, but also non-standard activities such as business or extreme sports. You can also find criminal law specialists from Asia to the United States. Whether you are at home or on the go, we can help you find the best service.
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Hotel Pider pider.info+39 0471 843 129La Valle Italy
Lazy Lizard Hotel & Pomegranate Yoga Weeks lazylizardfaralya.com(0090)2526421155Uzunyurt
Eon Centennial Plaza Hotel thecentennialhotels.com.ph(033) 337-2277Iloilo City Philippines
Luxury Hotel Holidays luxuryhotelholidays.com0118 947 7187Henley on Thames United Kingdom
Leviathan Hotel dunedinhotel.co.nz034773160Dunedin New Zealand
Dropoff locationReservation
Blue Bird Hotel Bagan Myanmar bluebirdbagan.com
Reservation
Hotel Staropolski staropolski.pl957631110Strzelce Krajenskie Poland
Hotel Loreto Boutique Cusco Peru loretoboutiquehotel.com51 84 226352Cusco Peru
Gateway Grill @ Concourse Hotel theconcoursehotel.com(614) 237-2515Columbus United States
Mayfield Hotel hotelmayfield.co.uk(01202) 551839Bournemouth United Kingdom
Vehicles/carsReservation



Life Insurance. What it is and how progressive fulfilment works

As a comparison site, respectively insurance company list, we bring you a bit of theory on the subject of insurance. Insurance contracts and conditions are full of terms that everyone barely understands. One such term is progressive fulfilment. We tell you what progressive insurance policy means and what benefits it can bring to you.

Life insurance is primarily used to provide financial support to families and relatives in case of death or income outages. Within the life insurance policy, you can arrange for a whole range of additional insurance - invalidity insurance, supplementary insurance for a serious illness or permanent consequences due to an accident. The latter is often provided by insurance companies with a so-called progressive service. What does it mean in practice?

Linear and progressive fulfilment

At the beginning, it is useful to recall the basic concepts that everyone will encounter in arranging a policy. The insurance is always concluded for a certain amount of insurance - the maximum amount that the insurance company pays when the event occurs. In the case of permanent damage insurance is the injury the case that will cause permanent health problems or limitations. The insurers themselves designate insurance payment as a fulfilment.

In the case of supplementary insurance, the insurance fulfilment is derived from bodily harm. This insurance company attributes a certain amount of percentage to the insurance company. A list of body injuries, including percentage ratings, is published in so-called pricing tables. These are the insurers themselves, so the ratings are often different in practice: while some companies, for example, classifies the loss of all fingers as 10 per cent body damage, other company can assume 15 per cent of it. When determining the extent of physical injury, the insurer also distinguishes between the right and left hands, the different fingers also have different ratings. Valuation tables can be found in the insurance contract or on the website of the insurance company.

The specific amount you get from the insurance company depends on whether you have negotiated a policy with a linear or progressive payment. Linear fulfilment means the following: with the insurance company you have agreed on the amount of the insurance million euros. As a result of the accident, you will lose hearing completely, which, for example, insurance company estimates 40% of the body's injury. It will pay you 400 thousand euros.

However, if you have a progress insurance policy, the insurance company will increase several times. A specific multiple depends on the insurance company and on the extent of physical damage. If we keep an example of hearing loss, insurance benefits will look like the following: insurance company estimates 40 percent loss of hearing and 26-50 percent body damage counts for double progression. By simply calculating - we will multiply by 40% of the two by two - we will get to the insurance benefit of 800 thousand euros. Higher insurance benefits with progress, however, are redeemed with higher insurance fee (the amount you regularly pay for insurance).

Maximum? Rather exceptionally

If you find out how highly progressive the insurance provider offers, you will most likely find information about the maximum progress. But beware: this is the number by which the insurance benefit will be multiplied only if the insurer evaluates the bodily damage as 100%. In practice, for example, insurers assess the blindness. Maximum progress can also occur if you suffer from a number of permanent consequences, and the sum of all damage is a hundred percent. For most insurers, the maximum progress is usually 6 times.

 

Where, on the contrary, you do not progress progressively, body damage is up to 25 percent. Most insurance companies expect progress beyond this limit. You can find the specific range and multiples of performance again in the insurance conditions or on the insurance company's website.

 

Physical damage is determined by the insurance company on the basis of medical reports and testimonials. Remember, with regard to insurance benefits for permanent consequences, you will not receive the money from the insurance company as soon as the accident occurs. Insurance companies usually wait for a year until the state of health can be considered as final or at least steady.

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Vacation insurance? Necessity or futility?

Holiday time is behind us, but it is good to recall this hot topic. If you are taking a vacation to a foreign country, it is worthwhile to set a travel insurance. National Health Insurance does not cover everything, and additional insurance is not expensive.

Why should I be insured for a holiday in the European Union when my health insurance is valid in the EU? Especially because our insurance, which you pay, or you are taken away from salary, even if you do it in private medical praxis, but only up to the prices paid to your local doctors. It may happen that you will have to pay for the doctor's arrival or the transfer to the hospital. Our "normal" insurance also does not apply to the possible transfer of a patient from a foreign country home, you will not even get payment for your lost personal belongings.

Accident with borrowed vehicle

Car rentals are quite common in popular resorts. But what if we crash with the rented car? If we know in advance that we are renting a car (or even a boat), we have to find a product with some of our insurance companies to cover any damage. A similar accident is probably not covered by our travel insurance, there are exceptions for rental or rented items.

An alternative is insurance with a company that car, boat or anything else that can cause damage, borrows. As a rule, the company attracts holidaymakers just because they have insurance. Try to learn the terms of this insurance. This can be difficult because the landlord promises anything for the profit, but when the accident occurs, the reality may be different. So, if you do not understand the insurance documents that you offer, you can risk it or simply do not lend the thing.

I broke the hotel facilities

After a night's return from a good party, you turned your head, you fell, and you pulled the tablecloth off your hand and all that was on it. Including colour television. If you have a liability insurance that applies to things located in rented accommodation facilities but is mainly valid in the territory of the country where you participated, then you can be at rest. This insurance should cover the damage.

Another option is to arrange a liability insurance for travel insurance. If you go to a party often, think of the higher limit of the policy.

I hurt another tourist

It would be a bad luck, but it might happen: The tourist jumped in front of you in the waterslide, and when you took a little while on the same route, you found out that she was going slowly and you were fast like a wind. Braking was stiff, eventually you did not jump in the tube, but you jumped literally on her back. The wound was so great that she suffered damage to her cervical spine. She had to stay home for work for several weeks.

It can be assumed that in such a case, the cost of treatment, transport and follow-up treatment would be paid either by a health insurance company caught by a stranger or by her travel insurance. But she would be looking for a guilty man, and that would be the one he'd hit. Apparently he did not have enough time to reach the previous slide, or to go into the tube before the warning sign allowed him. All of the costs would probably follow him. However, if the liability insurance is covered by travel insurance or, in particular, by household insurance, then it would be possible to pay all the costs directly from it.

However, it is important that the coverage of this risk is negotiated within a reasonable limit, experts estimate EUR 1 million for a minimum amount.

Even pregnant women travel

Pregnant women, of course, cannot be disqualified from travel and insurance applies to them. Here, however, it is important to find out in which degree of pregnancy the insurer costs the treatment and the activities associated with it. The guarantee of this care mostly ends between the 24th and 28th weeks of pregnancy.

In these cases, it is also important for insurance products to find out if there are any exceptions, such as premature birth. Almost certainly will not be insured for compensation for possible health complications incurred before leaving for vacation.

It is necessary to add that giving birth abroad or helping with complications during pregnancy or childbirth is considered as urgent medical care. The so-called European Health Insurance Card, a blue card with a health insurance company, should be sufficient to cover costs.

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Insurance

There is a certain risk associated with each area of human activity. Therefore, the risk and its impacts need to be defended in some way - and that is - to insure. Insurance is historically considered to be a form of risk shifting - the negative impact of accidents, from an economic or other entity to a special institution - an insurance company.

Insurance is a non-productive sector of the economy ensuring the financial elimination (exclusion) of the negative consequences of accidental occurrences on the economic or other activity of the people. This business deals with enterprises - insurance companies (reinsurance undertakings), which are mostly in the form of a.

Insurance

  • a specific branch of the economy
  • Financial service
  • is a source of company development
  • it is a service for the population and business entities, respectively. government institution
  • does not mean a significant increase in security
  • it does not imply absolute certainty - it only carries the financial consequences for the individual risks of specific activities

Structure of insurance

  • Legislative organs
  • Insurance Supervision
  • Associations (unions) of insurance companies
  • Commercial insurance companies, Health insurance companies
  • Social insurance companies' reinsurance companies
  •  

Insurance companies may be specialized or universal. Supervision is exercised by the Ministry of Finance and its activities consist in the authorization of insurance activities, the control, compliance with legal regulations and the liquidity of insurers. The associations represent the interests of member insurance companies in negotiations with state administration bodies, foreign partners and perform professional advisory activity.

Basic terms used in insurance:

The risk - relates to the ambiguity of the course of economic or other processes, and especially the ambiguity of their results

  • poses a risk of a negative deviation from the target or the risk of loss of a wrong decision,
  • risk in this area is different from sports, in gambling, there is a speculative risk

Reinsurance Institutions - institutions that insure insurance companies in case of securing the funds of the insurance company in the event of the occurrence of large-scale events (e.g. Flood)

Reinsurance - The financial fee (amount) paid by one insurance undertaking to the other insurance company (reinsurance undertaking) for the transfer of part of the risk from the insurance contracts concluded

Damage prevention = active activity of insurance companies, which affects the amount of financial and material damage and the growth of overall social effectiveness (it is mostly a preventive activity)

Insurance risk - the sum of the risks covered by the insurance as it was assumed by the particular insurance company. It is defined by the insurance law framework, it has the stated validity (insurance period) and the local delimitation

Insurance conditions - general - cover more types of insurance

  • Special - individual types of insurance

Insurance policy (insurance policy)

  • builds upon the insurance conditions and finalizes a bilateral legal act on the basis of which the contractual insurance of the company or person
  • A written form of contract is required for insurance for a period longer than 1 year
  • The insurance contract contains as a rule the following: type of insurance, subject of insurance, insurance period, amount of indemnity, eventually method of its determination, amount of premium collected, method of payment of premiums, maturity
  • it can also be arranged for the benefit of someone other than the one who concluded the insurance. In this context, we use the terms - policyholder - that is, the person who has concluded an insurance contract with the insurance company and is obliged to pay the insurance premium and the insured - i.e. the one whose property, liability for damage, life or health is covered by the insurance. In most cases, the policyholder and the insured are the same person. The difference arises if the insurance is arranged for the benefit of someone other than the one who concluded the contract and paid the premium - e.g. Child Insurance (policyholder parent, insured child).

Insurance Benefit - represents the insurance payment of compensation for damage to property insurance, person and company, payment of accident, life, pension insurance. Its payment depends on the general and special conditions of insurance and individual types of insurance and especially on the insurance contract

Insurance - represents the payment for the transfer of the negative financial consequences of casualties from business entities or person to the insurance company (= fee)

Risk management

A special branch dealing with risk management and has several phases:

  1. risk analysis - risk assessment, evaluation of the measure threatening the economic activity of people at a specific level
  2. Risk control - based on the analysis and output are specific measures, which are later implemented in phase 3,
  3. Risk control and financing - measures to prevent risks, reduce the negative consequences, the economic expression of these measures is the control

The subject of risk management research is:

1. Risks by controllable physical losses, health damage

  • Damage and loss of property
  • Liability for damages
  • Interruption of economic or productive activity
  • Control errors

2. Risks can be controlled only in a limited way

  • Technological risks
  • Political risks
  • Social risks
  • Risks from the natural environment
  •  

Financial risk elimination is the subject of decision-making for risk management personnel and the decision is usually such that risks, events more or less predictable, recurring, and small-scale risks are eliminated from company's own funds. In terms of medium damage, they can also be reimbursed from their own funds, but companies create their own reserves for these cases. In the case of major damage, which would endanger the financial situation and the stability of the company, decision-making leads to insurance. Meaning that the entrepreneur or the firm transforms the possibility of the occurrence of catastrophic damage with previously unimaginable financial consequences, for a relatively small and well-known cost - the insurance premium - the insurance premium.

Insurance

  • Creating insurance reserves through insurance requires regular premium payments, regardless of whether an insured event occurs or not. On the other hand, money is immediately available if insurance conditions are met

self-insurance - the company creates its own financial fund

a. insurance - through an insurance company

Both options are related to provisioning. RESERVES - Temporarily available financial (material) resources potentially intended to cover incidental needs.

RESERVE FUNCTION: - stabilization

  • help ensure the smoothness of the reproduction process
  • help ensure the reproducibility process is secure
  • help to ensure the flexibility of the reproduction process

Insurance Fund - special reserve fund to cover incidental events and needs related to the use of insurance methods

Categories (a) financial (monetary)

b. Retirement (Retirement = Revenue) - relates to the creation and use of such income

Insurance method - a set, usually mathematical methods related to defining ways to eliminate the consequences of randomness

Calculation of premiums

  • the purpose of the calculation is to cover the company's own costs as an enterprise, that the subject is

1st price of performance (services) - tariff premiums related to particular types of insurance

2. full own costs of the insurance service

  • Benefits (the dominant and predominant component)
  • administrative expenses of the insurance company (costs of running the insurance company - rent, water, wages, ...)

When calculating premiums, the compensation (compensation) between the insurance premium and the paid insurance premium is statistically calculated.

I = NI + CD + C + P

The premium is formed (calculation formula):

NI - net insurance, CD - compensation for damages, C - own costs, P - profit surcharge

Net insurance- is intended to provide insurance benefits, but if claims are lower than net insurance, the difference to the insurance reserve fund is deducted. According to the regulation, the insurance company must create the so-called basic reserve fund, the insurance reserves fund and the damages fund.

(Basic Reserve Fund - is intended to cover the difference between the actual premium paid and the net premium.

The Insurance reserve Fund - is intended for the payment of claims arising from reserve-based insurance. This insurance is set up on the agreed date and at the agreed rate.

The Damage Fund - it is made up of premiums and is intended to cover costs and allowances for the implementation of various measures to reduce damage.)

As part of the insurance calculation, they also set specific reserves (funds) and use calculation techniques for calculating insurance techniques based on statistical and mathematical methods, in particular the number of probabilities.

Instrument stabilization tools:

1. Specific Reserve Funds

  • Swing Reserve - Used to cover random fluctuations in the course of damage flows
  • Reserve of life insurance and pension insurance - serves to cover the future liabilities of the insurance company resulting from the concluded insurance contracts

2. reinsurance

The nature of insurance

Insurance has the character of monetary relations. It is an efficient creation and distribution of funds through insurance funds that make up insurers. Part of the funds are placed by the insurance company in the insurance reserves and the other amounts are used for the payment of the insurance. Insurance is a legal relationship between a company and a person that arises on the basis of an insurance contract or a law (law). The insurance has the following characteristics:

  1. Solidarity - it is reflected in the fact that policyholders contribute together to the creation of insurance funds, knowing that they do not need to get the premiums paid back and instead they will be paid to someone else.
  2. Conditional Return - it is shown that the insurance will be paid when the insured event arises.
  3. Ineffectiveness - It is evident that the insurance benefit is not dependent on the amount of the premium paid, ie it may be higher or lower than the premium paid.

Classification of insurance

The insurance can be divided according to various aspects:

A. By form

  1. statutory insurance - this insurance follows from a law which already provides for the creation of this insurance, insurance conditions, insurance rates, method of payment, etc. (statutory liability insurance for motor vehicle damage)
  2. Obligatory contractual insurance - Obligatory must be arranged under a legal regulation for certain activities (insurance of doctors, hunters, auditors)
  3. Contractual insurance - under contract and voluntary

B. Depending on the form of provisioning

  1. risk insurance - it is not known when the insured event will arise (accident, property, natural disasters)
  2. Reserve insurance - knows when the insured event will arise (life and retirement benefits)

C. By industry

  1. non-life - deals with property
  2. life - injury

D. By species

1. INSURANCE OF ASSETS AND RESPONSIBILITY FOR DAMAGE TO PEOPLE

a. Household insurance

It is one of the most important types of insurance for both insurers and the population because they use this service by an estimate of about 2/3 of households. The predominant form of household insurance has the character of an associated form of property and liability insurance related to household facilities and the liability of its members.

Associated household insurance covers risks primarily natural, ie fire, explosion, lightning strikes, storms, floods, hail, landslide, rock fall, avalanches, tree fall, etc., that the apartment became uninhabitable as a result of the insured event. Under this type of insurance, items of higher value can be attached, such as paintings, antiques, computers, and automatic washing machines.

The premium rate is most often determined according to the insured sums, according to the rule "the higher the coverage, the higher the premium".

b. Insurance of buildings (buildings)

It is another important type of insurance of the population's property and occupies the 2nd place in the insurance structure, because roughly half the population lives in its own buildings. This insurance also has a composite character and the subject of the insurance is family houses, rental and dwelling houses, agricultural estates, holiday cottages, cottages, etc.

Associated insurance also includes liability for damages due to the owner of the building. Insurance covers the risks of natural, water, vandalism, vehicle impact, and liability for damage caused by the owner of the building.

The premium rate is based on the quality of the insured building and on the size of the built-up area.

c. Vehicle accident insurance

It applies in the case of damage the size and size of which the driver could not influence, but also in the case of damages partly or wholly damaging to him. The subject of insurance is motor vehicles (cars, motorcycles, trailers, semi-trailers, etc.). In Full Emergency Insurance, the risk of natural disasters, theft, vandalism and accidents is covered as a breakage or damage to an external event vehicle. As a rule, this insurance excludes natural wear, improper maintenance or driving by a person without a driving license. It is insurance without a sum of insurance and the maximum amount of performance is given by the time value of the vehicle at the time of the accident. In the construction of this insurance, so-called participation is used for each damage at the amount agreed in the insurance contract. This bonus also uses a bonus, i.e. a discount for a lossless course during the defined insurance period.

d. Motor Third Party Liability Insurance

From this insurance, the insured has the right to insure against the insured person in the event of the occurrence of the insured event, and to those who suffered such damage in connection with the operation of the motor vehicle of the insured. Due to the social liability of the protection of victims of traffic accidents, this insurance is compulsory in most countries, including us.

The following indemnities are granted as compensation from this insurance:

  • Compensation for loss of earnings during work-related incapacity (e.g. as a difference between average earnings and sickness)
  • compensation for retirement loss
  •  
  • Compensation for making social work more difficult
  • Replacement for expenditure incurred in connection with treatment
  • compensation for material damage
  • compensation for adequate funeral costs
  • one-off compensation for the survivors
  • reimbursement of subsistence costs

This insurance concerns the operation of motor vehicles of citizens and economic subjects.

e. Other types of property insurance and liability for damages to the population

They are, for example,

  • travel insurance, respectively. travel insurance and stay insurance
  • Occupational liability insurance

These other types of insurance regulate the general and special conditions, or individual insurance contracts, respectively.

2. INSURANCE OF PERSONS

a. Accident insurance

The content is the financial security of the insured person in the event of temporary or permanent bodily injury or death of the insured. The lowest entry age for accident insurance is 15 years, the highest is 70 years. The insurance is negotiated for the insured amount, the amount of which is determined by the amount and type of damage. It is also possible to insure the sums of basic insurance sums. In practice, this type of insurance is often combined with other types of insurance, i.e. life and retirement insurance.

b. Life insurance

At present, it presents a summary of different types of insurance that combine to varying degrees two basic components:

  1. the risk of death
  2. the risk of survival of the agreed age

It may contain other risks, such as the risk of injury. This type of insurance is based on its calculation from the demographic model - the so-called death tables. The tariff parameters are the entry age of the insured (insured or policyholder), the insured period, the period of payment of the premium, the type of the insured event, the amount of the insured sum insured and the health condition of the insured person.

c. Retirement insurance

Its purpose is to supplement the pensions provided as social security benefits. The basic pension insurance entitles an insured person to receive another pension at the time agreed before the insured's life from the first day of the month following that in which he reached the agreed age (retirement age). The insurance tariff is calculated separately for men and women and depends on the entry age of the insured.

d. Insurance of medical expenses abroad

The medical reimbursement of the necessary costs of treatment for the insured person can be paid in local currency or foreign.

3. INSURANCE OF BUSINESS, INDUSTRIAL AND AGRICULTURAL RISKS

a. Life insurance

The most widespread insurance of legal entities where the subject matter of insurance is movable and immovable property owned by business entities. The insured natural risk includes under general conditions primarily fire, lightning, flooding, etc. The insurance is operated on a sum insured, which is derived from the new value of the insured item or from the time value (value after deduction of wear). Sometimes the insured amounts are determined based on the market value of the item.

b. Theft or burglary insurance

The subject matter of the insurance is movable goods, the owner of which is a business entity, and the insurance is re-arranged to the insurance amount derived from the new or time value. Differences in rates can also be determined depending on the subject of the business, its hazards, depending on the risk zone. The advantage for determining the amount of insurance is also better security, and the insurance company provides premiums on premiums better than the required security.

c. Traffic insurance

Transport insurance applies to items transported, except for the means of transport used to transport them. It distinguishes between transport insurance in domestic transport, natural areas, emergency risk and theft over the period of transport. The construction of insurance benefits is the same as in the field insurance. Insurance in international transport is based on foreign insurance conditions, especially English, and distinguishes between 3 types of transport insurance:

  1. insurance with the exception of a special accident (having the lowest insurance coverage);
  2. insurance including special accident (also covers partial damage during normal traffic);
  3. All risks insurance (the widest coverage).

d. Machine Assurance

The subject matter is machines and their accessories, which are included with the insured amount in the list of machines, which is part of the insurance contract with the relevant business entity. This insurance covers the cases of sudden destruction or damage caused eg by a mistake in construction, material defect or manufacturing defect, steam, gas, short circuit of electrical equipment, etc. It is better known in special insurance conditions. This type of insurance excludes the permanent operation of the machine process, such as wear, corrosion, etc. The upper limit of insurance performance is the new value as the insurance amount stated in the contract.

e. Liability Insurance

It concerns legal entities in case of a legal regulation of the liability of a business entity for the damage caused to another in connection with the insured's activity. There has been introduced one type of statutory liability insurance for entrepreneurs' damages, the content of which is the payment of damages for which the entrepreneur is employed, employing at least one employee and is responsible for it under the Labor Code. This is compensation for accidents at work and occupational diseases. The premium is paid depending on the number of employees, and backwards for the past calendar year.

f. Credit Insurance

Its content covers the consequences of non-payment of the loan provided to clients of the insurance company (business or banking entities).

g. Breakdown Insurance

It includes primarily lost profit insurance and insured expenses, e.g. after a fire or damage caused by another natural disaster, where the production is not continued, but it is necessary to pay the wages of the workers, the energy costs, etc. The insurance contract must stipulate the maximum period after which the insurance company covers the lost profits and the inexpensively incurred costs.

h. Agricultural risk insurance

Insurance for agricultural risks is a specific type of insurance. It concerns the insurance of crops and livestock. Other insurance sectors related to agriculture are the same as those of industrial and business insurance.

i. Other types of insurance for agricultural and business risks

e.g.: - insurance of ships and aircraft

  • insurance of investment units
  • installation insurance
  • currency exchange insurance
  • glass insurance, etc.

Supplementary pension insurance with state contribution

Form of a state contribution, so that the next generations of citizens have the means to cover the difference between the wage or salary earned in the working age and the amount of the old-age pension, which will be reduced in the future. The provision of supplementary pension insurance and its provision is handled by newly established special institutions - pension funds.

Services provided by pension funds:

  • Payment of a retirement pension paid for life or for a fixed term
  • Payment of a retirement pension paid for a fixed period of time
  • Invalidity pension paid for life or for a fixed period when granting invalidity pension
  • Survivors' pensions paid in the event of the death of a participant in the supplementary pension scheme
  • One-off compensation - replaces regular payment of pensions
  • Disbursement of the surrender - includes contributions paid by the participant plus the corresponding share of the revenues of the pension fund

Health insurance

The Act regulates general health insurance and the conditions under which it is provided under the Health Care Act. Healthcare is provided by law as a care fully or partially covered by health insurance.

Care fully or partially covered by health insurance includes:

  • Diagnostic care, outpatient and institutional care, including rehabilitation and care for chronically ill
  • prevention according to generally binding regulations
  • provision of medicines and medical devices under the conditions laid down by law
  • transportation of sick and surrogate travel costs to the nearest contracted medical facility authorized to provide health care, if necessarily required by their state of health, local transport costs are not covered
  • Spa care and special medical care provided as recommended by the physician as a necessary part of the treatment process

Payers of health insurance are insured, employers, state.

Health insurance is provided by sectoral, sectoral, corporate or other insurance companies.

Basic economic activities in an insurance company

The insurance policy is otherwise understood by the policyholder (he wants to get at least as much as he has put into the insurance) and otherwise an insurance company that has to fulfil its obligations and still make a profit. The economic activities of the insurance company include 5 basic areas:

  1. Planning - which focuses on the expected economic outcomes, taking into account market and insurance opportunities. The most important plans are the financial plan, the plan of activities, the plan of insured events.
  2. Analyses and analyses - the task is to keep track of established economic tasks, to monitor economic activities and economic results. Analysis and analyses serve the insurer to manage and remedy shortcomings.
  3. Accounting and Informatics - Captures economic operations, allows their evaluation and shows the final state of the economy.
  4. The information system - in the insurance company is very complex due to the extensive activity of the insurance company. Provides data collection and processing for management purposes.
  5. Labor Economics - Includes processes related to efficient use of the workforce (deployment of workers, labour productivity, employee involvement in results). It also deals with the payroll of the insurance company.

Insurance activities

The insurer's business is based on insurance activities consisting of business activities, insurance management and liquidation activities.

Business Service - has the task of implementing insurance products on the market and also deals with maintenance of insurance, which includes customer contact, information gathering and contracting

Insurance Management - Provides continuous care for the conclusion of an insurance contract, carries out the receipt and checking of newly concluded contracts, carries out registration, registration, statistical processing, inevitable correspondence.

Claim settlement - is the result of the insurance business and the task of liquidation is to determine the amount of the indemnity and to make the payment of the sum insured to the insured. It contains a lot of procedures through event reporting, validation, administrative processing, calculation of billing, reporting and statistical processing.

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4 of today's most popular cryptocurrency exchanges

Cryptocurrency exchanges are places where you can easily trade with different cryptocurrencies. In the article, you will learn tips for specific exchanges, but also information that you should be careful about before you choose the stock.

If you want to start trading with cryptocurrency and you are not satisfied with just a one-time purchase, you should focus on cryptocurrency stock exchanges, where you can buy and sell crypto markets for classic currencies such as dollars or euros. Opening an account is nothing complicated. You need only two IDs (ID card, passport), and the subsequent verification of your identity is a bit different for each stock.

The most common type of cryptocurrency exchanges are web pages that directly mediate trading with different cryptocurrencies in exchange for a transaction fee. But there are also platforms for trade between individuals or traditional brokers who set their own currency rates.

What to look for when choosing a cryptocurrency exchange

Before selecting the cryptocurrency exchange, you should be cautious and not send the money to the first you like. The most important aspect, of course, is the evaluation of the exchange from other users. Take a moment to review the stock market's recent review and see how users experience it.

  • You should also compare the fees of each stock exchange.
  • Explore how to buy currency, as well as withdraw money from your stock exchange to your account.
  • Next, find out which payment methods the exchange office uses.
  • Somewhere you will be able to use Paypal, but prefer card payments elsewhere. Every exchange office has different conditions.
  • In addition, some stock exchanges are forced to apply various restrictions based on your current location. Check if there are any limitations at the moment - for example if you are traveling a lot, you might be surprised.

 

The most famous cryptocurrency exchange

We chose for you the four best-known cryptocurrency exchanges. If you decide to trade on some of them, you will not be making the mistake.

(1) CoinBase

In particular, their mobile wallet is very simple and user-friendly even for complete cryptocurrency beginners. CoinBase is an American company that has a variety of options for selecting or sending money and the user interface of its products is understandable.

(2) Kraken

Kraken is the US stock market in Canada, the EU, Japan and the United States of America. At present, he is holding a prime in the euro and its liquidity overall. It is very popular and reliable, and adds, for example, data on Bloomberg's bitcoin rate. Due to the more complex control tool it is not entirely suitable for beginners.

(3) Poloniex

Together with Bittfinex Exchange, Poloniex is one of the most popular currency exchanges in the world today. They are based in the United States and rank among the most powerful currency exchanges in the world today. In the spring months, they faced technological problems because of the unexpected interest in trading with cryptocurrency. However, they have managed the situation and are currently holding a premium in trading with ether.

(4) Bitfinex

Currently the number one in terms of total volume of trades. The Hong Kong Stock Exchange also has a very friendly environment - simple payments and withdrawals. Last year, this exchange office was unfortunately hacked and some bills were stolen. That's why you always have the rule that you should keep most of the cryptocurrency in your hardware wallet and only have lower amounts in the exchange. This exchange is popular especially because of low transaction fees and a large amount of trafficked cryptocurrency.

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How to choose the best car insurance?

When choosing a compulsory car insurance, pay attention not only to the insurance price, but also to the limits of insurance benefits, the range of assistance services and the offer of additional insurance. We'll show you what parameters to observe and how to properly choose the most appropriate bid.

Every owner of a car or other motor vehicle is legally obliged to negotiate so-called compulsory liability insurance (Car liability insurance). Getting on offer is not a must for ordinary motorists. People are the first to look at the insurance price first. However, this approach may prove wrong in the event of an accident or other insured event. The amount paid by the insurance company may not cover all the damage. How to choose correctly?

How to compare bids online?

Nowadays, you can compare your offers easily and quickly on the internet. Choose an insurance comparator that works with multiple insurance companies.

To find the appropriate insurance offers, you must enter the basic information about the vehicle and the policyholder (the person who arranges the insurance) into the insurance calculator first. You can find the vehicle information you need in a small and large technical license.

Keep track of the amount of claim settlement limits

As you can see, the difference in the price of the liability can be several thousand crowns. As a rule, insurance companies offer compulsory liability in several variants. The better the insurance is, the more you pay. Be the first to look at the level of insurance limits for damage to property and damage caused by injury or death. Part of the insurance is also basic assistance services. The question is whether these limits will provide sufficient insurance protection in every situation. Practice shows that, especially in the case of health injuries, the claim for damages can also rise up to few millions dollars. Reliable insurance protection is available for more expensive variants of liability with limits of few million dollars.

See what the insurance contains

The amount of insurance limits is not the only parameters worth paying attention to. For example, the range of assistance services is also important. Look ahead in advance of the free insurance for which you pay for the insurance and how high the limits are. High-quality car insurance includes additional insurance. Some insurance companies even offer supplementary insurance which is the prerogative of accident insurance - for example, theft insurance, damage to the vehicle or damage caused by the elements. Useful supplementary insurance also includes accident insurance for the driver and the occupants of the vehicle, personal belongings and luggage, or the insurance of a trailer.

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How to deal with a storm after a windfall?

Did your storm come down to your house and take the roof down to the square? Destroyed by a falling tree greenhouse? After disastrous natural disasters, you will appreciate quality property insurance. We'll show you how to document damage, when to start repairing and where to report damage.

Example from practice: There were flying unsecured objects, roofing, trees, pylons, billboards, and scaffolding on the houses. Unfortunately, the storm attributed four human lives to the account. Clients reported more than 2500 insured events just after the storm. As expected, the number of claims reported in the next few days will increase by more than a thousand cases. The insurance company will pay hundreds of millions of dollars to the people.

Owners of insured property do not have to worry

Windbreak is one of the natural elements with which it counts in the basic variant of real estate insurance. Other natural elements include fire, flood, flood or hail. Property damage is covered by damages to the building and to secondary buildings on the land (garages, farm buildings, fences, greenhouses, swimming pools, etc.). If a windstorm has taken off roofing, a falling tree broke the greenhouse, or if a broken branch broke the window, you can file a claim for damages at your insurance company. If you have a co-insurance insurance, count ahead for a small part of damage to be paid from your own pocket.

In the event of a storm, not only your personal property may be damaged, but property damage or damage to the health of others is also often caused. An example may be when the wind-floored roof covering falls off the roof and the ponies are parked right under the windows. It is worthwhile to think about these risks ahead of time and to secure property liability insurance together with property insurance.

First document damage, then clean up

In a critical situation, you may not immediately remember how to proceed properly in solving the insurance event. The most important thing is to maintain a calm head and follow the recommended procedure of a particular insurance company. The representatives of the insurance companies agree that, in the first place, the damage must be properly documented. Take a picture of damaged parts of the house or other buildings as soon as possible using a mobile phone, camera, or videocamera.

It is also important to prevent further damage. You do not have to wait until an insurance worker comes to the place of the event. For example, if the gale has taken the entire roof and the rain can cause further damage inside the property, cover the roof as soon as possible with the tarpaulin. These expenses will be part of the insurance benefit.

As soon as possible, contact the insurance company and report the insured event. Insurance companies are ready for these situations and offer help and advice. You can report the insurance event as quickly as possible by phone, e-mail, via an online form on the insurance website or using a mobile application. Find out which options your insurance company offers. Use the Insurer Form to report damages. Once the damage has been reported, the insurance company will inform you about the next steps.

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Take a look at the anniversary of your car insurance

At the end of the year, it's time not only to balance, but to think in advance for the anniversary of the contracts for your car, ie, the liability and the emergency insurance. Why solve the change of the insurance company? What do you get or lose by changing an insurance company? How to terminate your insurance? We have prepared answers for these and other questions.

Why solve any change to an insurance company?

Insurance companies currently offer countless variants of insurance policies that they regularly update. The difference between absolutely identical insurance for two different products can be in the dozens $ annually. There are also cases where the difference was in the order of hundreds. In addition to a more cost-effective insurance, you can get a new insurance offer as well as a wider range of insurance or some new supplementary insurance. For better orientation of offers from individual insurers, we recommend using the online bid comparison.

What do you get or lose by changing an insurance company?

You will lose a maximum of several minutes of your time. By changing you do not lose your bonuses, it's free and you can get better insurance at a much better price. You can compare all of this in our online comparison within 2 minutes.

What is a bonus / malus?

Bonus is your discount, which you will pay less for those months of insurance when you have been traveling without accidents. Throughout the entire period of insurance, the policyholder (s) will be charged for months and will be entitled to a certain discount (up to 60%). Every 12 months without accident you get a discount on insurance premiums (usually 5%).

How to terminate your insurance?

In case you decide to change the insurance company, you must terminate the existing insurance contract in writing. However, you can not terminate the contract at any time of day. Terminations of the contract are governed by applicable laws.

Always cancel the contract in writing and hand over the appropriate insurance company at the counter or send by registered post. Some insurers offer a notice by e-mail. The denunciation must always bear a handwritten signature.

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Occupation affects the cost of life insurance. You pay for the risk

Occupation is one of the factors that affects the risk of the client. The more risky the profession, the higher the cost of insurance. This means that for example a joiner has insurance more expensive than an official. Occupations mostly affect the accident insurance, but some insurers also divide clients for sickness risks.

People who have been exposed to health problems because of their profession should also adapt their life insurance policies. Insurance should cover the risk of disability and death. In the case of excessively hazardous work, supplementary supplementary insurance may also be used to cover the risks of incapacity for work or serious illness. It is necessary to know exactly how much the insurers will get and under what conditions if they get into trouble.

Because the profession is one of the factors that affects the risk of the client, it is necessary to report to the insurance company also the change of the profession. Should the client be classified as a lower risk group at the time of the insured event, the insurance company may reduce any outstanding claims due to the fact that under the insurance conditions it is obliged to report the change. On the other hand, if he was included in a higher risk group, unnecessarily high premiums are payable.

The amount of the insurance premium is always determined by the amount of the insured sum by the insurance company, as well as by the extent of the insurance, the health condition of the client, his age and whether or not the insured is a smoker or a registered athlete.

Insurance companies also compile their own injury and disease profiles of individual professions. When arranging an insurance contract, according to these tables, it determines the insurance premium for accident and invalidity insurance.

The lowest premium is set for professions of a rather administrative or intellectual nature, with higher premiums being paid by those performing medium-risk activities such as manual and physical occupations.

Extremely risky professions are rated by insurers, for example, professions that do not spend most of their time on a firm ground, or vice versa, their activities are most of the time underground. For these professions, the premium is the highest. According to that the degree of risk may vary for the risk of an accident and the risk of disability.

Invalidity also includes occupational illness, for example due to being in a harmful environment or extreme physical strain.

For example, police officers distinguish between insurance companies, whether they are mainly administrative, or whether they are in the field or, as the case may be, a member of the intervention unit. In addition, there are also occupations, such as professional athletes, for whom individual insurance conditions need to be determined.

Set up insurance to make sense

Even when negotiating an insurance contract, it is necessary to think. For example, if a woodworker joins the wood, he gets his hands safe because he is afraid he will lose his fingers, but he will not be insured for invalidity, for example because of a spinal cord disease, a hand safety will be useless.

Death, disability and long-term incapacity for work due to injury and illness should therefore always be a priority. All this can be supplemented by supplementary insurance for permanent consequences due to an accident or serious illness.

In practice, it may still seem, although it always depends on the individual needs of the client, that the contingency reserve is at least three, ideally up to six times the monthly expenses.

Invalidity insurance amounts to hundreds of dollars to cover the difference between monthly and state disability pensions until the end of the working age, and death insurance can be set, for example, to the amount of the mortgage loan principal. Monthly premiums in this case then the client comes out from $ 20 to $ 60.

Make a risk plan

  1. Consider all life risks and priorities with an emphasis on income protection when you lose it because of health problems that make it impossible for you to make money.
  2. The risk plan is based on the combination of the contingency reserve and the suitably adjusted insurance.
  3. Short-term events people should be able to solve their own financial reserves. On the contrary, long-term events should be addressed by properly adjusted insurance.
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