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The insurance industry in general is fraught with plenty of risks, especially in South Africa. This has resulted in average car motor insurance prices here being very steep. On the whole, insurance costs related to any vehicle can work out to be very expensive here. Even the terms and conditions associated with an insurance policy here can be very stringent. Most car motor insurance policies here will state that all vehicles and cars install vehicle tracking mechanisms or immobilizers. The overall value of the car will decide the extent of premium to be paid each month or quarter.

How it works

The way the car motor insurance sector in South Africa works is that when the car or vehicle gets damaged, the provider pays an amount based on several factors. These factors are assessed in advance and include aspects such as the make and model of your car, how old your car is as well as the relative condition of the car at present, as well as the replacement costs involved. You would need to be the extra remaining amount depending on how old the driver of the car is as well as his or her relative experience in driving. In the case of more experienced drivers you do not need to pay too much excess.

The complexities involved

The car motor insurance companies in South Africa have quite a complex method of determining the premium amounts as well as excess to be paid in case of damages to the car. A lot of the estimated amount will depend largely on the amount of experience you have in driving the vehicle. If you are inexperienced or a first timer in driving, then you would initially need to shell out a large premium amount each month in South Africa. This will continue unless and until you are able to show the car motor insurance company that you are experienced enough to drive safely. On the other hand if you are already an experienced driver then you stand to gain in the long term. For starters, the initial premium amount is much lesser as compared to the ones levied on amateur drivers.

A mandatory requirement

In South Africa it is mandatory to get access to car motor insurance. In fact even if you intend on purchasing a brand new car you still need to invest in insurance beforehand. The financial institution that is granting you the car loan will also insist that you get an insurance done. However, if you are buying a car for the very first time then the experience can be quite scary and intimidating for you!
Preferred insurance companies

Most financial institutions will usually enter into a partnership with a car motor insurance company and when you get a car loan from the financial institution you might be ‘coaxed’ into going for insurance with this ‘preferred insurance provider’. However, you as a consumer need to exercise your right to choice as well as the ability to decide on your own before taking insurance with this car motor insurance company.

For more short term, car insurance in South Africa please visit

Health and life insurance are important, but recently, they are becoming harder for most of us to afford. Residents of California, where prices are high on all kinds of goods and services, may find themselves hard pressed to get health or life insurance that meets their needs and does not break the bank. One of the best places to start looking for an affordable insurance plan is the Internet.

Many insurance providers have websites that will give you information about their policies and even generate quotes online. You have only to enter a small amount of personal information into a web form and quotes will return either through your browser, or in an email.

There are many sites online which carry information for many companies simultaneously, and can give you prices and quotes for a number of different insurers quickly and easily. Searching online for your new insurance policy gives you access to the greatest number of providers and the greatest amount of information without a hassle. It could take you far longer to find the same information through conventional means, and not all of it is even available off line.

Some sites also provide handy applications such as financial calculators and needs estimators to help you figure out what criteria you need to consider when looking for a new health or life insurance policy.

Once you have gathered together the quotes you would like to consider, you may want to take them to a professional to help you with working out which policies are best for you and your needs. Some insurance companies sites or quote providers sites will allow you to contact a professional insurance adviser through them for this purpose. Generally life and health insurance do not vary a great deal from company to company, so its the price and service that you are concerned about.

You should review consumer opinions and ratings on the companies you are considering. These ratings and an insurance adviser can tell you whether a company has a reputation for raising its rates suddenly, or hassling customers about health claims that they have submitted. You want your insurance provider to be friendly and helpful in your times of need, but since insurance is a for-profit business, some companies can only see their bottom lines. Finding out what others online think about a given insurance company is one way to weed out the ones that are only looking for profit and find the companies that will serve you well.

The insurance business is particularly competitive in California, so you could benefit greatly from looking online for the best rate. Quote sites and online research can help you find the best health or life insurance policy for your needs and budget. Be sure to check up on any companies that you find this way, to prevent falling prey to a scam. Deals that sound too good to be true often carry hidden charges that will cost you more over the life of the policy than you will save.

For more information about Health and Life Insurance in California visit http://www.InsuranceSalesman.com

Where we have comprehensive guides to How to Find Affordable Health Insurance in Long Beach, California and other individual and family affordable health insurance resources.

Risk management is a structured approach to managing uncertainty related to a threat, a sequence of human activities including: risk assessment, strategies development to manage it, and mitigation of risk using managerial resources.

The strategies include transferring the risk to another party, avoiding the risk, reducing the negative effect of the risk, and accepting some or all of the consequences of a particular risk.

Some traditional managements are focused on risks stemming from physical or legal causes (e.g. natural disasters or fires, accidents, ergonomics, death and lawsuits). Financial management, on the other hand, focuses on risks that can be managed using traded financial instruments.

The objective is to reduce different risks related to a preselected domain to the level accepted by society. It may refer to numerous types of threats caused by environment, technology, humans, organizations and politics. On the other hand it involves all means available for humans, or in particular, for a risk management entity (person, staff, organization).

A prioritization process is followed whereby the risks with the greatest loss and the greatest probability of occurring are handled first, and risks with lower probability of occurrence and lower loss are handled in descending order. In practice the process can be very difficult, and balancing between risks with a high probability of occurrence but lower loss versus a risk with high loss but lower probability of occurrence can often be mishandled.

Intangible risk identifies a new type of risk - a risk that has a 100% probability of occurring but is ignored by the organization due to a lack of identification ability. For example, when deficient knowledge is applied to a situation, a knowledge risk materialises. Relationship risk appears when ineffective collaboration occurs. Process-engagement risk may be an issue when ineffective operational procedures are applied. These risks directly reduce the productivity of knowledge workers, decrease cost effectiveness, profitability, service, quality, reputation, brand value, and earnings quality. Intangible risk management allows to create immediate value from the identification and reduction of risks that reduce productivity.

Risk management also faces difficulties allocating resources. This is the idea of opportunity cost. Resources spent could have been spent on more profitable activities.

Once risks have been identified, they must then be assessed as to their potential severity of loss and to the probability of occurrence. These quantities can be either simple to measure, in the case of the value of a lost building, or impossible to know for sure in the case of the probability of an unlikely event occurring. Therefore, in the assessment process it is critical to make the best educated guesses possible in order to properly prioritize the implementation of the risk management plan.

The fundamental difficulty in risk assessment is determining the rate of occurrence since statistical information is not available on all kinds of past incidents. Furthermore, evaluating the severity of the consequences (impact) is often quite difficult for immaterial assets. Asset valuation is another question that needs to be addressed.

Thus, best educated opinions and available statistics are the primary sources of information. Nevertheless, risk assessment should produce such information for the management of the organization that the primary risks are easy to understand and that the risk management decisions may be prioritized.

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As we get older and become mature adults, we become more aware of our surroundings and their effects on ourselves and our well-being. Most of us wake up to the fact that there are a lot of factors in the present day that can potentially put our health at risk. Although keeping in top shape can help us avoid falling into illness like eating the right food or taking vitamins, there will always be instances where we would get sick forcing us to rest our weary bodies and shell out some cash to be able to treat whatever it is ailing us. This causes us more headaches and problems afterward with all the budget cuts we would have to do to make up for the loss of money as, of course these sorts of incidents are totally unexpected.

For the smart man though, it is best to be prepared for such incidents to occur in our lifetime not only to us but also to our loved ones. Acquiring health insurance is the best route to go to provide maximum medical care for us in case we have illnesses. It is basically a contract between an individual and a company which will allow a person to avail or enjoy multiple medical related benefits in exchange for monthly payments of a fixed rate for a given period of time. This helps in creating more stability for people as insurance companies will cover liabilities for medical expenses freeing an individual from the hassles of paying for medical bills with hard earned money all at one time. This is the purpose of paying monthly premiums to insurance companies as surely the policy holder in the long run would benefit from the method.

There are many other advantages of holding health insurance. For aging people, some plans even include nursing care and disability which extremely benefits the policy holder in case such needs should arise. Putting in your children as dependents also makes having health plans really advantageous due to the nature of kids to be susceptible to acquiring illnesses or getting injured thus creating the need for medical assistance. This is also true for sports fanatics and athletes, as more often than not, unforeseen injuries occur that could temporarily stop or at the worst even cripple an athlete’s career. Finally, those in poor health need not always worry about paying bills up front once they get sick as insurance companies should be able to cover for their medical care.

It is undeniable that acquiring health insurance especially in today’s environment is a need for all of us. Whether we have our own family or not, it is important to always take care of our health for us to be able move on with our daily lives and do our daily routines to the best of our abilities. In the end all we have is our health that could ultimately make our lives better if we decide to take care of it by acquiring the best health insurance policy suited for us and our line of work.

April Kerr owns website Jeri Moberly which has details of umbrella insurance companies and also explains what umbrella insurance is.

Risk assessment is a common first step in a risk management process. Risk assessment is the determination of quantitative or qualitative value of risk related to a concrete situation and a recognized threat.

Quantitative risk assessment requires calculations of two components of risk R, the magnitude of the potential loss L, and the probability p that the loss will occur.

Defined as a formalized basis for the objective evaluation of risk in a manner in which assumptions and uncertainties are clearly considered and presented.

Risk assessment is an important, yet difficult, step in the risk management process. Once risks have been identified and assessed, the steps to properly deal with these risks are more formulaic.

Part of the difficulty of risk management is that measurement of both of the quantities in which risk assessment is concerned- potential loss and probability of occurrence- can be very difficult to measure. The chance of error in the measurement of these two concepts is large. A risk with a large potential loss and a low probability of occurring is often treated differently from one with a low potential loss and a high likelihood of occurring. In theory, both are of nearly equal priority in dealing with first, but in practice it can be very difficult to manage when faced with the scarcity of resources, especially time, in which to conduct the risk management process.

Financial decisions, such as insurance, express loss in terms of dollar amounts. When risk assessment is used for public health or environmental decisions, loss can be quantified in a common metric,such as a country’s currency, or some numerical measure of a location’s quality of life. For public health and environmental decisions, loss is simply a verbal description of the outcome, such as increased cancer incidence or incidence of birth defects.

If the risk estimate takes into account information on the number of individuals exposed, it is termed a “population risk” and is in units of expected increased cases per a time period. If the risk estimate does not take into account the number of individuals exposed, it is termed an “individual risk” and is in units of incidence rate per a time period. Population risks are of more use for cost/benefit analysis; individual risks are of more use for evaluating whether risks to individuals are “acceptable”.

In the context of public health, risk assessment is the process of quantifying the probability of a harmful effect to individuals or populations from certain human activities. In most countries, the use of specific chemicals, or the operations of specific facilities (e.g. power plants, manufacturing plants) is not allowed unless it can be shown that they do not increase the risk of death or illness above a specific threshold. For example, the American Food and Drug Administration (FDA) regulates food safety through risk assessment. The FDA required in 1973 that cancer-causing compounds must not be present in meat at concentrations that would cause a cancer risk greater than 1 in a million lifetimes.

Barry Commoner and other critics have expressed concerns that risk assessment tends to be overly quantitative and reductive. For example, they argue that risk assessments ignore qualitative differences among risks. Some charge that assessments may drop out important non-quantifiable or inaccessible information, such as variations among the classes of people exposed to hazards. O’Brien further claims that quantitative approaches divert attention from precautionary or preventative measures

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Insurance fraud is any act committed with the intent to fraudulently obtain payment from an insurer.

Insurance fraud has existed ever since the beginning of insurance as a commercial enterprise. Fraudulent claims account for a significant portion of all claims received by insurers, and cost billions of dollars annually. Types of insurance fraud are very diverse, and occur in all areas of insurance. Insurance crimes also range in severity, from slightly exaggerating claims to deliberately causing accidents or damage. Fraudulent activities also affect the lives of innocent people, both directly through accidental or purposeful injury or damage, and indirectly as these crimes cause insurance premiums to be higher. Insurance fraud poses a very significant problem, and governments and other organizations are making efforts to deter such activities.

The chief motive in all insurance crimes is financial profit. Insurance contracts provide fraudsters with opportunities for exploitation. One reason that this opportunity arises is in the case of over-insurance, when the amount insured is greater than the actual value of the property insured. This condition can be very difficult to avoid, especially since an insurance provider might sometimes encourage it in order to obtain greater profits. This allows fraudsters to make profits by destroying their property because the payment they receive from their insurers is of greater value than the property they destroy.

Insurance companies are also susceptible to fraud because false insurance claims can be made to appear like ordinary claims. This allows fraudsters to file claims for damages that never occurred, and so obtain payment with little or no initial cost.

The types of insurance fraud that exist are as diverse as the types of insurance policies that are available. Some of the major areas in which insurance fraud occurs are in the life, health care, automobile, and property insurance industries.

An example of life insurance fraud is the John Darwin disappearance case, an ongoing investigation into the faked death of British former teacher and prison officer John Darwin, who turned up alive in December 2007, five years after he was thought to have died in a canoeing accident. Darwin was reported as “missing” after failing to report to work following a canoeing trip on March 21, 2002. He reappeared on December 1, 2007, claiming to have no memory of the past five years.

Insurance fraud can be classified as either hard fraud or soft fraud.

Hard fraud occurs when someone deliberately plans or invents a loss, such as a collision, auto theft, or fire that is covered by their insurance policy in order to receive payment for damages. Criminal rings are sometimes involved in hard fraud schemes that can steal millions of dollars.

Soft fraud, which is far more common than hard fraud, is sometimes also referred to as opportunistic fraud. This type of fraud consists of policyholders exaggerating otherwise legitimate claims. For example, when involved in a collision an insured person might claim more damage than was really done to his or her car. Soft fraud can also occur when, while obtaining a new insurance policy, an individual misreports previous or existing conditions in order to obtain a lower premium on their insurance policy.

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