transportation at Insurance Online

The main methods of transporting goods are road, rail, air and sea. Transporting goods by sea is called shipping. We all know that transportation and shipping interface with risks and that is why we should insure our cargo and prepare all necessary documentation.

I’d like to help you with it and to tell about some shipping documents and terms concerning insurance in foreign trade.

So, the first document - A Bill of Lading (b/l or blading) is a receipt given by the shipping company. The main document used by air transport is the Air Waybill (AWB). Unlike the bill of lading, the Air Waybill is only a receipt and cannot be transferred to another person.

The second ones - Consignment notes are used in road and rail transportation, and like the AWB they are not documents of title so ownership of the document does not mean ownership of the goods. They are not negotiable, i.e. they cannot be bought, sold, transferred by the consignor (the exporter), or the consignee (the importer).

There are a variety of vessels available for exporters to use when shipping goods safely:

— Passenger liners;
— Passenger cargo vessels;
— Tramps
— Tankers;
— Container vessels;
— Roll-on roll-off ferries;
— Barges (lighters).

Before the name of the ship, which is usually underlined in correspondence, the letter SS stand for Steam Ship and show that it is a British Merchant Vessel. MV, Motor Vessel or Merchant Vessel, and MS, Motor Ship are also used.

The main documents (besides bill of lading) used in shipping are:

— Freight account
— Dock receipt (wharfinger1s receipt)
— Shipped bill of lading

Good packaging is essential because it ensures that goods arrive at their destination in good condition. Therefore, the choice of packaging must suit the product, the means of carriage, handling facilities and any changes in climate during transport. In some countries, import duties are assessed according to the gross weight of shipments, which includes packaging. Therefore, the heavier the packaging the higher the duties will be. Goods packed separately, not in containers, are called conventional cargo.

<:3  )~~~~~~
Yours sincerely,
AlexSandra

Summer is time for vacation. A lot of people travel abroad in order to see other countries, to restore their health. And that is why it’s very important to care for your medical insurance abroad. Travel insurance will help you to do it.

This type of medical insurance will cover all medical expenses incurred during your trip abroad regardless of the purpose of the trip (business or vacation). Note that OHIP (Other Provincial Health Insurance) plans do not cover such expenses. That is why travel insurance is very popular in different countries. And as an example I would like to tell you about this type of medical insurance in Canada and about one of the most popular companies 21st-Century Travel Insurance Limited that operates in this country.

So any traveler regardless of his/her status in Canada can benefit from travel insurance, which can provide up to $2,000,000 (!!!) accident/illness protection.

21st-Century Travel Insurance Limited offered travel insurance at different prices.

All children under age of 21 are included in the contract free of charge!!! And that is why the prices for families with children in this company will be substantially lower. To calculate the daily cost of insurance for the whole family, you should multiply the daily cost of insurance for the older parent by two, and then multiply the sum you’ve got by number of days, and you’ll get the total cost of insurance (no taxes).
Special pricing is also available for groups such as sport teams, clubs, etc. In this case you will be surprised by the prices.

For frequent travelers, the cost of insurance can be reduced by buying one-year insurance plan:

This plan will be useful for frequent business travelers, as well as for truck drivers, who cross the border repeatedly during the year. The insurance provides up to $2,000,000 protection for the following expenses that are not covered by OHIP within the United States:

- treatment for illness;
- treatment of toothache;
- costs of medications and lab tests;
- emergency hospitalization;
- transportation of vehicle of the insured back to Canada, in case he/she is returning by a plane;
- travel costs for family members to the hospital where the insured is undergoing treatment (if recommended by doctor);
- dental work and treatment for damages resulting from the accident.

according to www.totrov.com

<:3 )~~~~~~
Yours sincerely,
AlexSandra

Insurance comes in many varieties. Categories include property, liability, homeowners’, automobile, medical, life, workers’ compensation, and marine.

Property Insurance

Property insurance is the modern form of the fire insurance that was sold by early insurance companies. The name has changed because the coverage has changed. No longer are just the losses resulting from fire protected by property insurance. Such losses as those from windstorm, theft, vandalism, and water damage are also covered.

Liability Insurance

Liability insurance is the most important kind of business insurance. A liability is a duty one person owes another, or is liable for, for some special reason. Liability insurance pays an individual or a business for liabilities that result from unforeseen situations.

Homeowners’ Insurance

Homeowners’ insurance is a combination offering both property and liability coverage. Usually it includes protection for a person’s home, any other buildings on the property, and for the buildings’ contents and personal belongings except automobiles and pets. The policy can be written to include the property of guests. If disaster strikes, homeowners’ insurance usually pays a family’s living expenses until they get settled at home once again.

Automobile Insurance

Automobile insurance is the most complicated kind of insurance purchased by individuals. It combines several kinds of property and liability coverage. The standard automobile policy includes collision insurance, covering property damage to a car when it is struck by another vehicle, and comprehensive insurance, covering general property damage that occurs when an automobile is damaged by something other than another vehicle.

Medical Insurance

Medical insurance pays the costs of hospitalization and physicians’ fees for insured individuals who are injured or become ill.

Life Insurance

Life insurance is designed to insure lives, though it frequently includes coverage for major disabilities such as the loss of limbs or organs. There are basically three kinds of life insurance that may be purchased by individuals for themselves or others or by employers for their employees.

Workers’ Compensation

Workers’ compensation is a special state-controlled insurance purchased by employers for the benefit of their employees. Like general liability and medical payment liability insurance, it pays for medical treatment required by employees of a company according to a state-regulated schedule of benefits. The object is to prevent employees from the need to sue their employers if they are injured and to compensate workers for losses from accidents on the job.

Marine Insurance

The oldest form of insurance that scholars have been able to document, marine insurance now includes much more than the shared risk of ships’ cargo. It might best be called transportation insurance because variations of the coverage include protection for ships, trucks, railroads, and aircraft. Underwriters generally divide it into two types: ocean marine, which deals with every kind of water conveyance, and inland marine for truck and rail cargo.

Insurance may be considered a game of risk in which individuals and businesses protect themselves, their families, and their property from possible losses resulting from unpredictable events such as storms, fires, accidents, and illnesses. The first rule of the game, devised centuries ago is “share the risk.” To play by this rule, many people take a small loss in place of one person’s taking a large one.
It is a simple idea: An individual pays a small amount of money called a premium to an agent who acts on behalf of an insurance company, or underwriter, which holds the individual’s premium and the premiums paid by thousands of others. The individual receives an insurance policy, a promise that if there is a loss to the individual as defined in the policy the insurance company will pay for it. The funds will come from the individual’s premium, the premiums paid by others who did not have losses, and money from the company’s investment of all the premiums. An individual who does not have a loss loses the premium money but purchases what insurance underwriters call “peace of mind.” It is a gamble for both the customer and the underwriter, but it is built on the first rule of risk: those losses are small when shared by many.
The insurance industry has a large range of jobs that service various parts of the business. In addition to underwriters, who decide whether or not a risk should be insured, and agents, who sell the coverage, the industry employs many kinds of engineers, who inspect property and offer advice on making property safer. When a loss occurs, claim adjusters investigate its cause as, for example, in a fire and decide how much the insurance company owes its policyholder.
The industry has developed specialists called actuaries, who, through mathematical and statistical analysis, help underwriters determine the rates applied to life insurance premiums. The industry also employs a wide range of physicians, lawyers, computer experts, mathematicians, and others to support all the major players in the game of risk.
In the later part of the 20th century, general industry has developed its own insurance specialists who specialize in purchasing insurance for their corporations. These risk managers must be acquainted with all forms of insurance and are generally in charge of deciding what insurance a corporation should buy and how much it should pay.
Insurance comes in many varieties. Categories include property, liability, homeowners’, automobile, medical, life, workers’ compensation, and marine.

Property insurance is the modern form of the fire insurance that was sold by early insurance companies. The name has changed because the coverage has changed. No longer are just the losses resulting from fire protected by property insurance. Such losses as those from windstorm, theft, vandalism, and water damage are also covered.
Liability insurance is the most important kind of business insurance. A liability is a duty one person owes another, or is liable for, for some special reason. Liability insurance pays an individual or a business for liabilities that result from unforeseen situations.
Homeowners’ insurance is a combination offering both property and liability coverage. Usually it includes protection for a person’s home, any other buildings on the property, and for the buildings’ contents and personal belongings except automobiles and pets. The policy can be written to include the property of guests. If disaster strikes, homeowners’ insurance usually pays a family’s living expenses until they get settled at home once again.
Car insurance is the most complicated kind of insurance purchased by individuals. It combines several kinds of property and liability coverage. The standard automobile policy includes collision insurance, covering property damage to a car when it is struck by another vehicle, and comprehensive insurance, covering general property damage that occurs when an automobile is damaged by something other than another vehicle.
Medical insurance pays the costs of hospitalization and physicians’ fees for insured individuals who are injured or become ill.
Life insurance is designed to insure lives, though it frequently includes coverage for major disabilities such as the loss of limbs or organs. There are basically three kinds of life insurance that may be purchased by individuals for themselves or others or by employers for their employees.
Workers’ compensation is a special state-controlled insurance purchased by employers for the benefit of their employees. Like general liability and medical payment liability insurance, it pays for medical treatment required by employees of a company according to a state-regulated schedule of benefits. The object is to prevent employees from the need to sue their employers if they are injured and to compensate workers for losses from accidents on the job.
The oldest form of insurance that scholars have been able to document, marine insurance now includes much more than the shared risk of ships’ cargo. It might best be called transportation insurance because variations of the coverage include protection for ships, trucks, railroads, and aircraft. Underwriters generally divide it into two types: ocean marine, which deals with every kind of water conveyance, and inland marine for truck and rail cargo.

The damage of the insurance companies on a life can make $31-133 billion from the bird’s flu expansion.
Experts of Insurance Information Institute have analyzed a number of scripts of distribution of the bird’s flu and came to a conclusion, that in case of realization of the most pessimistic forecast the sum of claims to the insurance companies will increase to $133 billion in comparison with usual mid-annual parameters. Greatest losses will incur the companies engaged in life insurance.
The pessimistic model of the development of events is constructed by analogy with expansion of regular flu in 1918. More than 600 thousand people have died then in the USA, and from 50 up to 100 million people all over the world. Taking into consideration the changes in demographic situation about 2 million people can die from the bird’s flu in the USA nowadays.
The moderate script developed on the basis of epidemics of 1957 and 1968 when more than 60 thousand and 35 thousand people, accordingly, have died in the USA assumes $31 billion growth of claims to insurers.
It is marked in the report, that development of scientific researches in the field of microbiology and pharmaceutics allows to fight unknown diseases successfully, and usage of modern methods of communication and transportation allows to localize distribution of viruses in very short terms.
However economic relations and development of trade between the countries promotes distribution of a virus infection and methods of vaccination are still insufficiently good to fight against diseases. On the average manufacturing and testing of a vaccine takes about half a year and there is no guarantee of positive result.
Experts of Insurance Information Institute warn that the virus which has appeared presently represents much more greater threat, than unknown illnesses of the beginning of the last century, as it possesses the ability of mutation.
Despite of all the complicity of situation even the pessimistic forecast provides restoration of the market of life insurance approximately in one year.
Insurance Information Institute assumes that financial impact will not become the reason of mass bankruptcies of the insurance companies except for those that are very small.
I don’t consider the world epidemic of the bird’s flu possible. There were too few cases of death from this disease so there are no reasons for panic. The only thing because of what the insurance companies can incur insignificant losses is the reduction of trips to Asian countries as it will lead to reduction of number of the citizens insuring their life for the period of a trip. So while all this is nonsense.

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