which brings about a result, without the intervention of any new or independent force” Life itself is full of events, sometimes occurring independently of each other or as a result of another. The principle, proximate cause identifies for insurance purposes, which event is the probable cause of a particular event, leading to a loss and whether this event is insured. Usually, the first and last events can be easily indentified but it is any intermediate events and causes, which happen, that
Words: 1231 - Pages: 5
regimen, surgery, or other action that would combat an illness, that aren’t always relayed or discussed with the patient at hand. Today, insurance policies can cover a varied range or services for a consumer. Primarily, when a patient is discussing a treatment with their physician, their main concern is if that specific treatment is covered under their insurance policy, and if not, what are its costs associated with it. Since physicians make more off of a treatment that costs more, they generally
Words: 733 - Pages: 3
“limited liability” is the mechanism. With the globalization, the financial industry changes to combine operation from separate operation. The most common of the combined operation is the integration of banking and securities industry, also the insurance industry. For example, under the integration of the commercial bank and the investment bank, they want to win the opportunity of underwrite, they use their credit department, investment department to meddle with the competition. Some large financial
Words: 567 - Pages: 3
finance, investments, and insurance in more than 9,000 brick and mortar stores, more than 12,000 ATM’s and the online channel (Wells Fargo, 2013.) “In the past 20 years American banks have taken many measures to ensure that they remain profitable while responding to increasingly changing market conditions. First, this includes the Gramm-Leach-Bliley Act, which allows banks again to merge with investment and insurance houses. Merging banking, investment, and insurance functions allows traditional
Words: 1653 - Pages: 7
Law Paper – The Contract (Case Study) Introduction This law paper is based on a case # 63075 from Provincial Court of British Columbia in which there was a false insurance claim made by Gulbhar Singh Bhullar (Son) and Kuldip Singh Bhullar (Father) from ICBC (Insurance Corporation of British Columbia). The date of hearing and judgement was January 22, 2009 and the place of hearing was Surrey, BC. The Counsel from Claimant side was R. Wellman, Q.C. and from Defendant side was C. Alexander. And
Words: 1273 - Pages: 6
economic reality. For example, Fuji Computers entered into a five-year insurance contract with Tokyo AFM against earthquake damage to its headquarters building. As is customary, it paid the 100 million premiums for the five-year coverage up front in cash. Question: How would you recognize revenues associated with this type of catastrophe insurance contract? This case can be considered as premiums from short-duration insurance contracts, which are intended to cover expected claim costs resulting
Words: 999 - Pages: 4
The Progressive insurance organization began business in 1937. The Progressive Corporation, an insurance holding company formed in 1965, currently has 54 subsidiaries and 1 mutual insurance company affiliate. These insurance subsidiaries and affiliate provide personal and commercial automobile insurance and other specialty property-casualty insurance and related services. Our property-casualty insurance products protect our customers against losses due to collision and physical damage to their motor
Words: 2196 - Pages: 9
looked after. By law, organizations are required to offer different benefits to their employees. These benefits are mandatory or voluntary. The mandatory benefits consist of Worker’s Compensation insurance, Social Security, Unemployment insurance, and Family Medical Leave Act (FMLA). Worker’s Compensation insurance is enforced when an individual is injured on the job and provides coverage for the following: disability income, medical care, death benefits, and rehabilitative services. Social Security benefits
Words: 419 - Pages: 2
Justification for an Internal Control System ACC/544 Internal Control System Relying on the insurance and portfolio approach are acceptable for maintaining organizational risk, however, for optimum protection there must be internal controls in place. This report will focus on justifying why implementing internal control is better than relying on the insurance and portfolio approach. Although the insurance and portfolio approaches will be explained, the report justifies why an internal control system
Words: 402 - Pages: 2
program is very effective, and is built around dfour motivational aspects of goal setting. The first aspect is direct attention, Allstate company has its employees focus on duties of their particular job. The second aspect is regulate effort, Allstate insurance company regulates effort by using succession programs. The allstate company assess employees on current job skills and a outline for developing the skills for advancement within the company. They do this by educating, coaching, mentoring and classroom
Words: 411 - Pages: 2
