Do You and Your Insurance Company Know Your Liability?

Do you and your Insurance Company know your Liability?

Traffic signs are everywhere. They provide us with warnings, directions and information. They can be found along public roadways, private roadways and parking lots. As of June 13, 2014 all agencies with public and private roadways which are opened for public travel are required to have a traffic sign assessment and management plan in place.

I know what you are thinking, that’s great the government has more paperwork to add to their already inflated bureaucracy. Though that may be the case, if you are a commercial or industrial business, mall, shopping center, home owner’s association, convenience store, gas station, just to name a few, with a parking lot or roadways, you should be preparing for traffic sign Retroreflectivity.

Why should you be concerned or taking note of traffic sign assessment and management? Well simply put if you allow motorists to drive on your property, which would almost be impossible not to, you are entering new realm of possible liability.

You along with your Insurance Company should know what the failure to prepare and plan for traffic sign assessment and management can mean. I bet most agencies and businesses don’t even know what traffic signs are

Eligibility Checking Part 1: Determining Patient Financial Responsibility

The healthcare landscape has changed, and one of the biggest changes is the growing financial responsibility of patients with high deductibles that require them to pay physician practices for services. This is an area where practices are struggling to collect the revenue they are entitled.

In fact, practices are generating up to 30 to 40 percent of their revenue from patients who have high-deductible insurance coverage. Failing to check patient eligibility and deductibles can increase denials, negatively impact cash flow and profitability.

One solution is to improve eligibility checking using the following best practices:

-Check patient eligibility 48 to 72 hours in advance of scheduled visit using one of these three methods:

1. Business-to-business (B2B) verification, which enables practices to electronically check patient eligibility using electronic data interchange (EDI) via their electronic health record (EHR) and practice management solutions.

2. Look up patient eligibility on payer websites.

3. Call payers to determine eligibility for more complex scenarios, such as coverage of particular procedures and services, determining calendar year maximum coverage, or if services are covered if they take place in an office or diagnostic centre. Clearinghouses do not provide these details, so calling the payer is necessary for these scenarios.

-Determine patient financial responsibilities – high

8 Major Income Protection Myths Debunked

Insurance products aren’t the easiest of things to understand and income protection insurance is no exception. With cumbersome key facts booklets and the media citing stories of context-specific consumer-insurer battles, it’s no surprise that many people misunderstand exactly what it is and what it specifically offers.

Outlined here are eight major protection myths demystified, so that next time you hear something about income protection, you’ll be able to separate fact from fiction.

Myth 1: It doesn’t pay out

Provided that the policyholder has kept up-to-date with their monthly premiums, and has given truthful personal information from the outset, claims are nearly always paid out. In fact, last year in the UK, insurance providers paid out over 90% of successful claims. If you’re still unconvinced and want to double check specific insurer payout rates, most of them now provide easily-accessible claim statistics on their websites.

Myth 2: It’s too expensive

This myth is purely subjective. If you were a smoker in a high risk job and wanted a very high level of cover, your premiums would, of course, be costly. For the majority however, income protection is affordable and can cost as little as 30p per day. If you want significantly lower income protection insurance

Enjoy Peaceful State Of Mind With an Appropriate Insurance Cover

Life is beautiful and happening only when one enjoys perfect peace of mind. A general insurance secures a person against number of risks and provides adequate security for the unforeseen events of life. When one avails for a cover, he stands guarded against losses occurring in case of events like, fire, marine, motor, accident and other miscellaneous non-life insurance. There are numerous benefits associated with an insurance cover. Also, buying the best general insurance plan yields significant tax benefits to the customer.

Evolution of transforming technologies has made buying and renewing of policies really easy. A person interested in buying the best general insurance can conveniently make a purchase through internet. All the key players of the insurance industry have their respective web portals, where in is provided every information relating to different plans. Customers can read and understand the plans being offered and make a wise selection. Online facility bestows on the customer, the power to choose, and thus he is able to avail the best general insurance plan that perfectly fits in his budget.

An insurance seeker these days is not even required to go to a company’s office or bank, to make a payment for the policy. Rather

Surety Insurance May Give You Peace of Mind

In a world where unforeseen consequences can lead to costly damages and potential lawsuits, managing your risks is an absolute must. When looking for ways to mitigate risk in an investment, such as a car, house, or expensive work of art, people often turn to major insurance companies. In theory, paying a little each month can protect you from sudden financial disaster in the future. While these companies have good intentions, the reality is often much less idyllic. Companies often try to deny claims or take forever to process payments, leaving you stuck with a mountain of debt while you try to keep your investments afloat.

Contract Work

Particularly in contract work, standard liability coverage often leaves much to be desired. When allowing a contractor to work in your home, install an air conditioner, or run new power lines, you are taking a huge leap of faith that the company will behave ethically and do their work up to code. While most reputable companies carry liability, there is simply no way to guarantee that their coverage will provide you with the compensation you need when their mistakes cost you thousands of dollars in damages. To mitigate this risk, surety insurance has

Understanding the Necessity of Acquiring Your Own Insurance Policy

Understanding Insurance Claims

An Insurance Plan can get us off our worries. May it be an Educational Plan, Health, Life, Auto, Accident or Retirement Insurance Plan. Living in a country where everything is fast-paced, having an Insurance Policy is a necessity. The absence of these much-needed Plans could cause you a lot of troubles. Imagine, what to do when someone in the family is sick? Paying your hospital bills could be worrisome and how would you send your children to school without an Educational Insurance?

Some people have different kinds of Insurance Plans to secure their life and that of their family. However, an insurance claim also provides negative feedbacks that discourages people from thinking of the necessity of acquiring an insurance Plan. Definitely, an Insurance Plan means benefits but somehow, claiming those benefits could be tedious and time-consuming. Insurance claims need not give us so much trouble if we just understand how Insurance companies work on our Insurance claims. So to fully understand issues and save us a lot of troubles claiming our insurance, let us take a look on this.

How to File Your 4 Important Insurance Claims

Filing your Auto Insurance Claim

1. Assess if the Claim is Worth the Trouble

Before

How to Evaluate the Right Claims Management System for Your Organization?

With continuous changes to the software industry, Claims Management Systems (CMS) have evolved with technology. These systems are equipped with newer capabilities to provide enhanced services to customers. In such situations, evaluating and selecting the right CMS for your organization could be a difficult task. In order to assist with this process, we furnish a few simple steps through which you can evaluate and choose the right CMS for your organization.

Check the efficiency and responsiveness of the system:

Efficiency

• Claim management systems are crucial to making the customers satisfied and to improve the overall performance of the company. A CMS should be able to manage the entire claim process – from the beginning to the final settlement. The software should help in organizing every file activity and maintain reports.

Responsiveness

• In addition to performance, a CMS needs to allow the user to run reports instantly. The ability to quickly access information will expedite the claims, allowing employees to return to work, and employers to save valuable resources.

• A transaction – accessing and saving a claim, creating letters, etc. should not take more than 10 seconds, and on an average it should be done only in a couple of seconds.

• While evaluating