marks) “At the heart of every insurance transaction is a requirement that both parties exercise utmost good faith towards each other….The principle is…sometimes expressed by saying that insurance contracts are contracts uberrimae fidae.” (Petony‚ Graw‚ Lennard and Parker‚ Understanding Business Law‚ 5th ed‚ Lexis Nexis‚ 2011‚ p702) Required: a. Explain what is meant by “utmost good faith” and why it is of particular importance in the context of insurance contracts. (10 marks) b. How is
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Medicare is insurance under the Social Security system insuring a vast majority of people over the age of 65. Majority of those on Medicare also have medigap policy‚ a supplemental private insurance. According to Hillier‚ S. & Barrow‚ G.M.‚ “Such policies are sold by private companies to help cover the “gaps” in health-care protection for which Medicare does not provide.” The required core benefits of the medigap policy include: Daily Medicare co-payment of $191 for hospital days 61 through 90‚ and
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Pet Insurance in West Virginia West Virginia is an excellent state to raise pets in‚ whether they are indoor or outdoor ones. The weather conditions do vary‚ as summers can be hot and winters can be downright snowy and frosty‚ so it is important to choose a pet that you know you can care for no matter what the conditions. West Virginia also offers vast amounts of farmland for men and women who wish to raise outdoor farm animals‚ such as sheep‚ pigs‚ cows‚ horses‚ chicken and turkeys. Many also own
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Cited: Accounting Degree.org. (n.d.). The 10 worst corporate accounting scandals of all time. Retrieved August 10‚ 2013‚ from Accounting-Degree.org: http://www.accounting-degree.org/scandals/ Enriquez‚ M. C. (2008‚ March 8). The scam that rattled high society. Philippine Daily Inquirer . Forbes. (2013‚ April). Global 2000 leading company.
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Contrasts between The Average and Warren Pryor. There are contrasts between ’’Warren Pryor’’ by Alden Nowlan and ’’The Average’’ by W.H. Auden. The tone ’’The Average’’ is distressing and desolate and the tone of ’’ Warren Pryor’’ is anger and regretful. For example: ’’They blushed with pride …. / aching with empty strength and throttled rage’’ (Nowlan 13-16) and ’’The pressure of their fond ambition made / their shy and country loving child afraid’’ (Auden 4-6) Nowlan’s poem demonstrates how the
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FOUNDATION EXAMINATION (SYLLABUS 2008) SUGGESTED ANSWERS TO QUESTIONS JUNE 2012 Paper-1 : ORGANIZATION & MANAGEMENT FUNDAMENTALS Time Allowed : 3 Hours Full Marks : 100 The figures in the margin on the right side indicate full marks. SECTION - I Answer Question No. 1 which is compulsory and any one question from the rest of Section I. Q. 1.(a) Do you agree with the following statements? Write ‘Yes’ or ‘No’ giving proper reasoning in support of your answer. No mark will be awarded for
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Background Issue #1 The company reached a settlement with its insurance carrier related to a claim from a tornado that destroyed one of the company’s manufacturing facilities. During the year‚ the company received proceeds of $20 million from its insurance carrier in connection with its claim for reimbursement for the destroyed building. The company plans to use the insurance proceeds to fund its defined-benefit pension plan‚ rather than to rebuild the destroyed facility. How is this transaction
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BACKGROUND. National Health Insurance is a noble and noteworthy programme or exercise that was formulated by the government in order to address the pressing problems that have dogged the Health Care industry for decades on end. South Africa was poised at the threshold of implementing important and much obligatory alterations to its health structure; an alteration hinging on the ideology of communal commonality‚ even-handedness and equality. A National Health Insurance (NHI) was the medium that was
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The Time What is the most horrible of institutions that ever entered human lives? Anyone‚ by the perceived notion of institutions might start listing education‚ family‚ marriage‚ state‚ religion etc. But‚ if we think once‚ all these institutions have something in common. They are all time - framed‚ time – bound‚ and submit us to conformity‚ which is again fitting itself into the framework of larger time that is life time. So‚ I would say‚ it is time that is the major institution that changed the
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into account not only the amount of net profit‚ he earns but also the amount of standing or fixed charges which have been charged against the revenue for determining the amount of net profit. Of course‚ he may not get such incomes covered by the insurance policy which will not be affected by dislocation of his business on account of fire. e.g. income from investments‚ rent from the property let out etc. Loss of profit occurs because of loss of sales on account of dislocation of the business. Moreover
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