Lastest Auto Insurance Coverage News

Lastest Auto Insurance Coverage News

Commissioner Jones approves new auto insurance policy for ride-hailing drivers Image by CA Dept of Insurance Jones announced today that he has approved a new insurance product submitted by Farmers Insurance that closes the gap in insurance coverage for drivers driving for ride-hailing companies, such as UberX, Lyft and...
People May Compare Retirement Incomes With Whole Of Market Annuity Quotes

People May Compare Retirement Incomes With Whole Of Market Annuity Quotes

by Zartiex People May Compare Retirement Incomes With Whole Of Market Annuity Quotes Many people save towards their retirement with personal and occupational pension schemes. Most of the schemes can be categorized as money purchase schemes. This means that when the person retires the money invested in the pension fund is converted to cash and used to purchase an annuity. There are many different options when purchasing one of these products, such as level and escalating annuities, and single life or joint life annuities. This article explains some of those options, and shows how an annuity quotes can be used to let a person estimate the amount of retirement income they will get. Most pension schemes other than final salary schemes, and other defined benefit schemes, can be categorized as money purchase schemes. A person, and possibly also their employer, make contributions into a pension fund, which is invested in the financial markets with the intention of building up a suitably large pension pot by the date of the person’s retirement. On retirement the pension pot is then used to purchase an annuity. These are a type of insurance, which are sold by life insurance (or life assurance) companies. They provide a guaranteed lifetime income, regardless of how long the pensioner lives for. This is desirable as it protects pensioners from the danger of exhausting their pension pot. Those who buy an annuity to provide a retirement income will normally have one of the following types of pension: a personal pension, a stakeholder pension, an Additional Voluntary Contribution (AVC) or Freestanding Additional Voluntary Contribution (FSAVC) scheme, or a retirement...
Nice Insurance Guide photos

Nice Insurance Guide photos

Some cool insurance guide images: Foregate Street, Worcester – clock and temperature gauge Image by ell brown After a look at The Hive, I headed back towards Foregate Street in Worcester, and went to the Worcester City Museum & Art Gallery. This is what I saw on the way there. Foregate Street and corner of Sansome Street. clock and temperature gauge At the Grade II listed 1 and 1a, Foregate Street, Worcester WORCESTER SO8455SE FRIAR STREET 620-1/12/239 (East side) 19/08/99 Nos.1 AND 1A GV II Shop with offices over. c1880’s with later alterations including c1980s ground-floor shop front. Reddish-brown brick in Flemish bond and header bond to angle with stone dressings and concealed roof; left end brick stack. Curved on plan to right angle. Aesthetic Movement detailing. Four storeys, one first-floor window, with 2 first-floor windows to right return. First and second floors have 1/1 sashes, third floor has 2/2 sashes; those to first-floor are round-headed, otherwise with cambered heads; all in plain reveals with roll moulding. First-floor windows have moulded sills on feet; second- and third-floor moulded bands break forward to form sills under windows with feet. First-floor windows have brick and stone arches and roll-moulded hood on carved imposts and with shaped keystones with foliate decoration; second and third floors similar, keystones to second-floor have sunflowers, those to third-floor are plain. Console brackets, frieze and cornice with coped parapet. To angle a clock at first-floor and barometer at second-floor, both in circular brick surrounds. INTERIOR: not inspected. HISTORICAL NOTE: during the C18 Foregate Street was known as ‘the mall’ and Tymbs’ Worcester Guide of 1802 notes, ‘the...
Insurance Facts – Spontaneous Combustion

Insurance Facts – Spontaneous Combustion

by photo Insurance Facts – Spontaneous Combustion Some, but by no means all, ARPI policies contain a clause excluding spontaneous combustion, namely a fire brought about by the conditions produced within the substance itself.   The key element to spontaneous combustion is the creation of a fire without obvious external factors. Therefore, there have been doubts as to whether or not an insurance policy would cover such a loss, even if it was not specifically excluded. In other words, is spontaneous combustion a type of inherent vice and not created by the interaction of external forces? It is suggested that spontaneous combustion can only take place if certain conditions occur, such as an increase in heat. Therefore, to that extent, spontaneous combustion is not inevitable and relies upon certain favourable conditions existing.   In the case of Duncanson v. Continental Insurance Co., 69 DLR 4th 198; 20 ACWS (3d) 564, the Nova Scotia Court of Appeal was required to decide whether the expression in the policy “including self-ignition” enlarged the meaning of the word “fire” so as to include spontaneous combustion even when there was no fire. When heat was spontaneously generated by the cargo the Court of Appeal found that the words “including self-ignition” embraced damage resulting from spontaneous combustion. It commented that the policy extended the coverage beyond the ordinary meaning of the word fire and included the process before actual ignition takes place. The court looked at various definitions of ignition and spontaneous combustion. It adopted a definition of ignition as being the act of kindling or setting on fire; the act of operation of communicating...
Insurance Issues – Contamination – Part IV

Insurance Issues – Contamination – Part IV

by statefarminsurance.maryland Insurance Issues – Contamination – Part IV The assured argued that “contaminate” meant introducing foreign sub­stance thus effectively creating a different substance. It conceded, however, that a product is also referred to as contaminated when the foreign substance merely injures its usefulness without affecting the original physical character­istics. It was argued that this created an ambiguity and therefore the policy should be read in favour of the assured. However, the court decided that if contamination had two equally familiar meanings then the clause excluded loss caused by the substance being materially altered by contamination and also where the usefulness of the property has been affected by the introduction of a foreign substance, and found against the assured.   It is often a fine distinction to draw between whether the proximate cause is in fact the contamination of the insured property or the introduction of the foreign substance which may be caused by some accidental event—hence, the addition of the provision to some contamination and pollution clauses as referred to above. In the the case of Raybestos—Manhattan Inc. v. Industrial Risk Insurers (1981), the assureds heptane tank was mistakenly filled with fuel oil creating a mix of fuel oil and heptane resulting in damage. The court found that, although contamination was excluded, the proximate cause of loss was in fact the unintentional filling of the tank with the wrong substance, which was not excluded even though the cause produced a loss by contaminating the tank.   Some of the contamination exclusions also make reference to a change in colour, flavour, texture or finish or, alternatively, it is an...