Insurance companies are regulated by state insurance departments. These departments are responsible for ensuring that insurance companies are financially sound, that they are treating their customers fairly, and that they are complying with state laws. The departments have the authority to investigate complaints, conduct examinations, and take enforcement actions against insurance companies. They also work … Read more
Self-employed individuals make National Insurance contributions differently than employees. You’ll usually pay National Insurance once a year through Self Assessment. The deadline for Self Assessment is 31st January each year. You can choose to pay your bill all at once or in monthly instalments. If you earn over a certain amount, you’ll need to make … Read more
Insurance policies are considered aleatory because they involve a significant degree of uncertainty regarding the occurrence of the insured event. This uncertainty arises from the unpredictable nature of future events, such as accidents, illnesses, or property damage. In essence, an insurance policy represents a contract between the policyholder and the insurance company, in which the … Read more
If you’re both employed and self-employed, you need to pay National Insurance (NI) on both your income sources. As an employee, your NI contributions are deducted from your salary or wages by your employer, while as a self-employed person, you’re responsible for paying your own NI contributions through your Self-Assessment tax return. The amount of … Read more
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When an insurance company takes on a large amount of risk, it may arrange for reinsurance to share the potential losses. Reinsurance is a type of insurance that an insurer purchases from another insurer to reduce its own exposure to risk. By spreading the risk across multiple insurers, the original insurer can limit its potential … Read more
Bingle Insurance, formerly known as AAMI, is owned by Suncorp Group, one of Australia’s leading financial services organizations. Suncorp Group also owns other well-known brands in the insurance industry, such as GIO, Vero, and CIL. The acquisition of AAMI by Suncorp Group in 2019 brought together two of the largest insurance providers in Australia, creating … Read more
Repairing a crooked nose, also known as rhinoplasty, can be covered by insurance under certain circumstances. If the procedure is deemed medically necessary, such as correcting a breathing problem or repairing a broken nose, it may be covered. However, purely cosmetic rhinoplasty is generally not covered by insurance. To determine coverage, it’s important to consult … Read more
The cost of car insurance for beginners can vary significantly depending on several factors, including age, driving history, vehicle type, and location. Generally, younger drivers with less experience pay higher premiums as they pose a higher risk to insurance companies. Factors such as traffic violations, accidents, and at-fault claims can also increase insurance costs. The … Read more
If you have three points on your driving record, it can affect your insurance premiums. Points are added to your record for certain traffic violations, like speeding or running a red light. The more points you have, the higher your insurance premiums will be. This is because insurance companies see drivers with multiple points as … Read more