Author Archives: Anna Glendenning

Intermediate or Graduated Drivers Licenses for New Drivers

In 1979 the year I got my drivers license car accidents caused 45.6 % of the deaths for people in the age group 15 to 24. In 1996 the death rate for people in the same age group dropped to 29.2%. Injury is the leading cause of death for children, with auto accidents being one of the major reasons causing the injury. While it’s true the children are not always driving the cars that cause these injuries. When it is a young driver the damage are often catastrophic. If not for the young driver but other people involved. Driving is … Continue reading →

Progressive Insurance A Company with Many Firsts.

Joseph Lewis and Jack Green started Progressive Mutual Insurance Company in 1937. As lawyers just getting started they saw an insurance company as a good investment and an opportunity to offer vehicle owners with security and protection. From the very start Progressive has been innovative and made auto insurance accessible and easy in order for more people to have insurance and protect their cars. The Progressive business philosophy is to approach auto insurance in an innovative way — like no other company had. Progressive has been a leader in offering new ways to meet their insurance customer’s needs: Progressive offered … Continue reading →

The Basics about General Liability and Professional Liability Insurance

Insurance protection for professionals including the small business owners, may require two different major types of liability insurance. These two types of insurance that need to be considered: General Liability Insurance and Professional Liability Insurance. Each of these types of insurance policies offer specific and important protections designed to professionals from financial loss. General Liability insurance This type of liability insurance protect professionals and organizations from the risks of being liable for causing bodily injury or property damage to someone else. If the policy holder is found legally responsible and obligated to pay someone for damages. General professional liability for … Continue reading →

The Difference Between Claims Made and Occurrence Liability Policies

For the Small Business Liability is the cause of damage to someones property and/or bodily injury to another person caused as a result of negligence of a person. Liability Insurance covers a policyholder when they are legally obligated to pay another due to bodily injury and/or property damage caused to another person. Liability insurance may provide coverage for individuals or businesses. There are two major forms of liability insurance policies that can be purchased. The difference between these forms is how the claims are paid when an insured is found liable: Occurrence Claims Policies Occurrence policies provide the insured with … Continue reading →

Insurance Blog Week In Review August 15-21, 2007

Insurance Term Of The Week: Surplus Lines Insurance Wednesday August 15, 2007. Surplus Lines Insurance markets are needed to provide alternatives for unusual or higher risk insurance not offered by licensed insurers or insurance companies in the state a customer lives. There are often situation where insurance coverage is unavailable from licensed insurers because of the risk exposures or because coverage terms and conditions don’t provide the specific insurance a customer needs. Related Blogs: Some History About Lloyd’s Of London Speciality Lines Insurance Million-Dollar Legs. Body Part Insurance This week I decided I wanted to get the Glossary of Insurance … Continue reading →

Insurance Terms: W-Z

A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Insurance Terms: W Waiting Period under a health insurance policy, the waiting period is the time that has to pass from the policy issue date until the date the benefits become payable. In some cases, the waiting period may also be called an “elimination period” or a “probationary period.” Waiver is the surrender of a right or privilege. With life insurance, … Continue reading →

Insurance Terms: U-V

A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Insurance Terms: U Umbrella Policy is additional insurance coverage for losses that exceed the liability limit of underlying policies such as homeowners and auto insurance. Underinsurance results when a policyholder fails to purchase enough insurance coverage. The policyholder may be entitled to receive only a portion of the cost to replace or repair damages to covered items. Underwriter is the company … Continue reading →

Insurance Terms: T

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U-V | W-Z Term Life Insurance is a form of life insurance covering an insured person for a specific period of time, which becomes the “term” of the policy. Benefits are paid to the beneficiary only if the insured person dies during the term specified on the policy. Term life policies are usually renewable with increased premiums based on age. … Continue reading →

Insurance Terms: S

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U-V | W-Z Salvage Refers to damaged property an insurance company takes in order to reduce losses after paying an insured for a claim. Insurance companies take salvage rights over property considered to be a total loss. For example a totaled auto would become salvage property of the insurance company. The insured may pay a salvage charge in order to … Continue reading →

Insurance Terms: Q-R

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U-V | W-Z Insurance Terms: Q Qualified Annuity is a form of an annuity purchased with pretax dollars as a part of a retirement plan benefiting from a special tax arrangement like a 401(k) plan. Qualified High-Deductible Health Plans are health plan with lower premiums that cover expenses after the insured has met the large deductible for out of pocket … Continue reading →