MARITIME INSURANCE Marine insurance is a contract whereby the insurer undertakes to indemnify the assured, in manner and to the extent thereby agreed against marine losses, that is to say, the losses incident to marine adventure (Marine Insurance Act 1906, S.1). Indemnity is provided against the majority of losses which can occur during transit. The marine insurance market comprises insurance companies, Lloyds underwriters and private underwriters and in practice, each insurer pools the premiums received from the insured in order to pay claims and expenses, to build reserve fund against future losses and to secure a small margin of profit, hence insurance is said to be based on the principles of contribution (Harrington et al., 2004). Insurance …show more content…
This policy was paid by the traders in the form of a loan to guarantee the safe arrival of their goods by caravan Than in the year 3000 BC when Chinese merchants dispersed their shipments amongst several vessels so as to abridge the possibility of damage to the product(s). The earliest account of insurance came in the form of 'bottomry', a monetary payment that protects traders from debt if merchandise is lost or damaged. The Phoenicians and the Greeks wanted the same type of insurance with their seaborne commerce In medieval times, the guilds protected their members from loss by fire and shipwreck, paid ransoms to pirates, and provided respectable burials as well as support in times of sickness and …show more content…
Therefore premiums are also mutual and estimated for a given policy year and finally decided when the year is closed which is minimum (but also normally)three years later. Premiums are therefore referred to as" calls". An Estimated Total Call is calculated for any given ship. Calls may be charged all in advance, the full Estimated Total Call or divided into Advance and Supplementary Calls. The benefit of charging Estimated Total Call the first policy year is that the member may be able to fully budget his costs. Before the policy year is finally closed, the club can decide to cover the claims and to charge an Additional Supplementary Call. There as on why accounts are kept open is that cases continue to develop and could over time become more, or less, expensive than initially
6.8. Client and Broadspire agree to the following terms for Arkansas insured workers’ compensation claims; (i) Broadspire is acting on behalf of the insurer for the payment of claims both within and in excess of the deductible; (ii) Broadspire shall periodically provide accurate and timely data to the Client’s Arkansas workers’ compensation insurance carrier (“Carrier”) on all claims paid from “first dollar”; (iii) the Carrier shall immediately replenish the Loss Fund Account if it is not replenished timely by the Client and shall bill the Client for such amount; and if the Loss Fund Account is funded by the Client, Broadspire must notify injured workers that the claim is being adjusted and will be paid on behalf of the Carrier; (iv) the
Pension Plans By Tay’veun Glenn Introduction Pensions are known as a retirement account that most employers maintain to give employees who have stayed with the company a payout upon retirement. Most employers give recipients of pension accounts a choice between a lump-sum payment or monthly annuity payments that are based upon the amount of time that the employee worked and their final salary prior to leaving the company. There are different types of pension plans and the use of each one is dependent on the employer. The Governmental Accounting Standards Board and Financial Accounting Standards Board both have to report pensions and have designated different ways to account for it.
Trading ranged from salt to slaves. Long-distance trading on the Silk Roads was mainly done on camels, dromedaries, horses. There were tolls you would have to pay so you could continue on your path. Tithes were sometimes levied on tolls taken from ships and goods entering or leaving a port. They could be given as fiefs or transferred in perpetuity in such circumstances.
Financing the Uninsured In the United States one sixth of the population is without health insurance. Uncompensated care is being provided not only to uninsured and disadvantaged, but also to a growing number of self-supporting, uninsured family, who cannot pay hospital bills (Sigmond, 2004-2005). It has been pointed out that 70% of people without insurance have access to health insurance but have elected not to carry it (Sataloff, 2010). Currently hospitals spend tens of billions of dollars annually providing care for the uninsured.
They exchanged products with people from different regions. The merchants came to distant places with items of great value, such as cocoa, gems, cotton or precious feathers. The book displays this aspect when the king was rewarding his artisans for what he ordered them. He said, “Give each of these, my grandfathers, a portion of various rich cloths, and huipiles and skirts for my grandmothers; and cotton, chiles, corn, squash seeds and beans, the same amount to each”
Healthcare insurance have developed over years since it started since 1920 and that was a route for HMO. Healthcare insurance may be private like blue cross and public like Medicare, Medicaid. Most far reaching private health insurance programs take care of the expense of standard, preventive, and crisis human services techniques, furthermore most professionally prescribed medications, yet this was not generally the situation. The ascent of private protection was joined by the slow extension of open protection programs for the individuals who couldn 't secure scope through the business sector. For example, When an injured person goes to the emergency room and receives treatment, he has to pay for the treatment even if he has an insurance the hospital bills goes to the insurance or to the center of Medicare and Medicaid services and if he does not have any insurance he has pay from his pocket and if he is not able to pay it hospitals may write off the payment or payment is paid by some charity.
Double Indemnity Clip Analysis The purpose of this paper is to explain and describe the stylistic choices of the selected clip from the movie Double Indemnity (1944.) Consisting of five shots, the features of the clip serve to cast feelings of uncertainty and intrigue upon the viewer. The introductory shot of the clip starts as two men enter an elevator.
Over the late years the quantities of uninsured Americans has fundamentally expanded. The 2.2 million late development of uninsured is for the most part because of age and salary changes. At that, most Americans trust that protection scope and access to human services framework are the issues that ought to be organized, and it is the immediate obligation of the central government to guarantee restorative watch over those natives that need protection, even through raising expenses. Today, the US society confronts the continuous problem of "whether the administration ought to make a noteworthy or a constrained push to give medical coverage to the uninsured" (The Henry J. Keiser Family Foundation 1). On the other hand, no choice has yet got
Know the Diverse Benefits of Availing Small Claims Services A small claims court is a special court where disputes are resolved swiftly and inexpensively. It does not require any attorney, and here, the hearing is informal. It covers an encompassing range of cases, such as: • Property damage or personal injury from a car accident • Landlord/tenant security deposits • Damage to your property by a neighbor • Disputes with contractors about repairs or home improvement jobs • Collection of money owed • Homeowner association disputes If you are filing the claim, you will be called as plaintiff, whereas if you are being sued, then you will be defendant.
The two films, Double Indemnity (1944) and Body Heat (1981), are both very similar even with the thirty-seven year gap between them. In Double Indemnity, Walter Neff, an experienced salesman for his local insurance company, meets the seductive wife of one of his clients, Phyllis Dietrichson. They have an affair and quickly decide to kill Mrs. Dietrichson’s husband so she can collect the proceeds of the accident insurance policy and be with Walter Neff. Neff comes up with a plan to kill her husband and to also receive twice the amount based on a double indemnity clause. The police believe it was an accidental death, but the insurance analyst and Neff’s best friend, Barton Keyes, believe there is more to the story.
Neff Said: Mise-en-scene and Sound in Double Indemnity Film Noir is a genre filled with many interesting conventions. The films within Film Noir use narration, performance, lighting, and blocking in order to tell tales of murder, betrayal, and questionable morals.
What sets James Cain’s “Double Indemnity” and “The Postman Always Rings Twice” apart is the dynamic created between the two ‘partners in crime’: Phyllis and Walter; Frank and Cora. Cain employs animal metaphors to characterize the two proto-femme fatales, Cora, the insecure small-town beauty and Phyllis, the manipulative “out-and-out” killer (184). The comparison between these women and different predators shapes how the reader views the narrator, his decisions and culpability.
Many of our past Presidents tried to federally implicate a health insurance of all the civilians in the United States. Theodore Roosevelt promoted a federally funded plan in 1912 during his campaign running for presidency. The health insurance was an original plan included in the Social Security but after the final revision, it did not get included when the bill was passed in 1935, signed by President Franklin D. Roosevelt. Harry Truman also attempted to create a national health insurance in 1947, but congress also denied it from passing. The last failed effort was made by John F. Kennedy in 1960 but since it only proposed for hospital costs, it did not go through.
3. Threat of new entrants High barriers to entry in the industry. Licensing requirements are high. There is a minimum size requirement to achieve profitability and the initial investment is required and fixed costs of operating. How much of the control is in the hands of existing players of the market or key resources?
Tort law refers to the set of laws that provides remedies to individuals who have suffered harm by the unreasonable acts of another. Tort law is based on the idea that people are liable for the consequences of their actions, whether intentional or accidental, if they cause harm to another person or entity. Torts are the civil wrongs that form the basis of civil lawsuits. To explore this concept, consider the following tort law definition.