INSURANCE 2020 – THE PATH AHEAD Introduction Insurance is a social device which help the public to transfer the risk which is integrated part of the human life. It’s been years this term called insurance generated. Now one of the most emerging and greening sector in India is insurance. The needs and preference of a customer is changing day by day. The people are more aware about the need for diverting the risk to a third party by taking insurance. They also consider insurance as an investment
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Brief Overview of Limited Liability Companies Introduction Limited Liability Company (LLC) is often considered as the hybrids of general partnership and corporation. It often referred as a general partnership where the partners have no personal liability and a limited partnership where there is no general partner or a partnership surrounded by a corporate shell (Seipel‚ Tunnell & Zimmermann‚ 1995). The LLC is first adopted in Wyoming in 1977 and then in Florida in 1982. However‚ LLCs
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Amanda Fultz Mark Davis BUL 2131-43 8-19-2013 Liability for Agent’s Contracts You run a successful paper mill and send out your three best personnel to secure new wood pulp sources using due diligence and skill. Applying the agency principles outlined in this chapter‚ answer the following questions. Delilah‚ does not return with wood pulp‚ but brings back three contracts. Acting within the scope of her authority‚ she contracted
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1. DENTAL INSURANCE As we know that poor care of mouth and teeth can affect a person general health and well-being throughout his life. Generally‚ when this problem comes‚ there is a need to start seeing a dentist regularly…and everyone knows a hole in tooth can put a bigger hole in wallet…that costs money! Because dental disease is so common‚ being protected by dental insurance and using it wisely is essential safeguards for any individual or a family. Dental insurance provides with an effective
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Social Insurance ECON 3440 What Is Insurance? An insurance premium is money paid to an entity so that an individual paying the premium will be insured against adverse events. The premium is paid in return for a guarantee of compensation given a specified adverse event (illness‚ death‚ auto accident‚ home fire‚ disability‚ etc.). ECON 3440 - Prof. Wassall Expected Value and Fair Premiums Suppose that in 2009 Emily has a 1/10 chance of serious illness and resulting disability‚ and
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of the most controversial topics of our time. In order to understand why this is such a controversial topic we must understand exactly what this act means to the people. The Patient Protection and Affordable Care Act (PPACA) states that with limited exceptions‚ every resident of the United States must have health insurance that must meets certain basic requirements. Beginning in 2014‚ individuals who do not acquire health insurance will be subject to a fine. This fine will rise over time‚ reaching
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Introduction: According to figures from the US Coalition Against Insurance Fraud‚ the cost of claims fraud in the US alone in 1995 amounted to US$ 85.3 billion‚ which equates to a cost of US$ 326.47 for each American citizen. Research by the Rand Institute for Civil Justice in the US revealed that over one third of people injured in vehicle accidents exaggerated their symptoms‚ which adds US$ 13-16 billion to the annual US insurance bill. Figures from the pan-European trade association‚ the Comité
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Doctrine: Limitations in Establishing Corporate Criminal Liability The identification doctrine is the traditional method by which companies are held liable under the principles of the common law. According to this theory‚ the solution for the problem of attributing the unlawful acts to a corporation for offences that require intention was to merge the identified individual with the corporation. For the purpose of establishing corporate liability‚ a company may be responsible for the wrongful acts of
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Nursing theory is an important part of today’s nursing practice. Theory is important to the profession of nursing as it lays the framework in which nurses base their care and knowledge upon. Nursing theories give us the answers to back up the reason why we do things the way we do. According to Smith and Parker (2015)‚ theories are mental patterns or frameworks created to help understand and create meaning from our experience‚ organize and articulate our knowing‚ and ask questions leading to new
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forms of business entities available‚ a recent one being limited liability partnerships (LLP)‚ created by the Limited Liability Partnership Act 2000 (LLPA). This act came into force on the 6th of April 2001. As‚ LLP’s have qualities similar to partnerships‚ they are seen as a hybrid between a partnership and a company. An LLP is a ‘corporate body’ with ‘separate legal personality’‚ distinct from its members. Members enjoy limited liability and are not jointly and severally liable for the debts of the
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