What is an insurance declaration page?

Purchasing insurance can provide you with peace of mind in knowing that your business and possessions are secure. When your policy goes into effect, you’ll receive a multi-page booklet outlining the important facts of your coverage. Reviewing all of that material can be intimidating, but here’s a hint: the main aspects are presented on the…

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What does an insurance claims adjuster do?

A claims adjuster reviews insurance claims and establishes whether or not – and how much – an insurance company will pay an insured. Each case is reviewed by a claims adjuster who speaks with the claimant, interviews any witnesses, researches records (such as police or medical records), and inspects any connected property. What does an…

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The difference between the actual cash value and replacement cost

Setting a limit on your insurance coverage is simple, but choosing between actual cash value and replacement cost reimbursement is not always as straightforward. If you have insurance, replacement cost coverage is the best option if you need to file a significant claim. This coverage, however, comes at a cost — one that may not…

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Primary vs Excess Insurance Coverage

Primary insurance kicks in immediately when you suffer a loss, and excess handles any extra loss when primary coverage is used up. The insurance carrier holding the “primary” policy normally has the first and main duty to defend any claims made against the insured (person or entity for whom the policy is written). An excess…

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Standards Essential Patents: Big Money

Unified Patents had a seminar entitled “Who is Gaming Who? Why 5G Self-Declarations Have Exploded and What to Do About it.” The seminar is a lot of inside baseball, but gives you a good glimpse about how patents are used in developing standards, and how the licensing game is played at the highest levels. Standards-essential…

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What is an Insurance Claim?

An insurance claim is a formal request for coverage under an insurance policy. When you file an insurance claim, you are informing the insurance company of a loss and requesting them to cover you. Filing an insurance claim is the start of a process for making you whole under the insurance policy. Its is why…

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What is Directors & Officers Insurance?

Directors and officers (D&O) liability insurance covers directors and officers if they are sued while running a business or a charitable group. The insurance covers the costs and damages (awards and settlements) resulting from legal action, accusations and complaints brought against members of an organization’s board of directors or officers. Anyone who serves as a…

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What is an Insurance Binder?

An insurance binder is a written confirmation that a policy will be provided between you and the insurance carrier. The insurance binder is evidence of insurance that you can use until your actual policy arrives. An insurance binder may be issued for a limited period of time and have an expiration date. Definition of an…

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What is a Freedom to Operate Search?

A “freedom to operate search” is a specialized patent search that identifies your vulnerability to patent lawsuits. An FTO search will compare your product to all the patents that can be asserted against you. The search will highlight the differences between your product and those patents, and give you a legal opinion that you do…

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