Expatriate
insurance
designed to cover financial and other losses incurred while living and
working in a country other than one's own.
Insurance should be arranged prior to relocating to a new country or
destination. Policies will generally cover the duration of your stay and
can be purchased on a 6 month to annual basis. It is important to
purchase this insurance from a reputable company.
National Insurance (NI) Is a system of taxes and related social
security benefits in the United Kingdom. It was first introduced in 1911,
and expanded by the government of Clement Attlee in 1946. The tax component
of the system consists of taxes paid by employees and employers on weekly
earnings and other benefits-in-kind; the self-employed are taxed based upon
profits. Such taxes are said to be National Insurance Contributions (NICs).
The benefit component of the system is a number of contributory benefits,
that is ones where the claimant's previous contribution record determines
the availability and amount of the benefit paid. The benefits provided are
weekly income benefits and some lump sum benefits to participants upon
death, retirement, unemployment, maternity and disability.
Liability insurance
is a part of the general insurance system of risk transference.
Originally, individuals or companies that faced a common peril, formed a
group and created a self-help fund out of which to pay compensation should
any member incur loss. The modern system relies on dedicated carriers to
offer protection against specified perils in consideration of a premium.
Liability insurance is designed to offer specific protection against third
party claims, i.e., payment is not typically made to the insured, but rather
to someone suffering loss who is not a party to the insurance contract. In
general, damage caused intentionally and contractual liability are not
covered under liability insurance policies. When a claim is made, the
insurance carrier has the right to defend the insured. The legal costs of a
defense are not affected by any policy limits, which is useful because they
can be significant where long trials are held to determine either fault or
the amount of damages.
No-fault insurance
is a type of insurance where insureds are indemnified by their own insurer
regardless of fault in the incident. The term is often applied to any type
of policy that allows for a policyholder to be reimbursed by their own
insurer without proof of fault, but technically it refers only to
state/provincial laws that not only allow for recovery of direct damage but
also limit the right of the insured to sue.
Pet Insurance
pays the veterinary costs if one's pet is ill or is injured in an accident.
Some policies also pay out if the pet dies, or is lost or stolen. The
purpose of pet insurance is to mitigate the risk of incurring significant
expense to treat ill or injured pets. As veterinary medicine is increasingly
employing expensive medical techniques and drugs, and owners have higher
expectations for their pets' health care and standard of living than
previously, the market for pet insurance has increased.
Political risk insurance
is a type of insurance that can be taken out by businesses, of any size,
against political risk—the risk that revolution or other political
conditions will result in a loss. Political risk insurance is available for
several different types of political risk, including (among others): *
Political violence, such as revolution, insurrection, civil unrest,
terrorism or war; * Governmental expropriation or confiscation of assets; *
Governmental frustration or repudiation of contracts; * Wrongful calling of
letters of credit or similar on-demand guarantees; and * Inconvertibility of
foreign currency or the inability to repatriate funds. As with any
insurance, the precise scope of coverage is governed by the terms of the
insurance policy.
Property insurance
provides protection against most risks to property, such as fire, theft and
some weather damage. This includes specialized forms of insurance such as
fire insurance, flood insurance, earthquake insurance, home insurance or
boiler insurance. Property is insured in two main ways - open perils and
named perils. Open perils cover all the causes of loss not specifically
excluded in the policy. Common exclusions on open peril policies include
damage resulting from earthquakes, floods, nuclear incidents, acts of
terrorism and war. Named perils require the actual cause of loss to be
listed in the policy for insurance to be provided. The more common named
perils include such damage causing events as fire, lightning, explosion and
theft.
Social Insurance
Social security primarily refers to social welfare service concerned with
social protection, or protection against socially recognized conditions,
including poverty, old age, disability, unemployment and others. Although
some publications use the terms "social security" and "social protection"
interchangeably, social security is used both more narrowly (to refer only
to schemes with the formal title of 'social security') and more widely
(referring to many kinds of social welfare scheme). Social security may
refer to social insurance, where people receive benefits or services in
recognition of contributions to an insurance scheme. These services
typically include provision for retirement pensions, disability insurance,
survivor benefits and unemployment insurance. income maintenance—mainly the
distribution of cash in the event of interruption of employment, including
retirement, disability and unemployment services provided by administrations
responsible for social security. In different countries this may include
medical care, aspects of social work and even industrial relations. More
rarely, the term is also used to refer to basic security, a term roughly
equivalent to access to basic necessities—things such as food.
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