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Have you had any offers abroad or are you planning to try looking for open opportunities in another country? Have you chosen a country where you feel you can be lucky at? If yes, then that’s good news then. Have you prepared for your migration? Insurance is one of the top priorities you should have. Have you already contacted your agent?
Since you have not yet adjusted to the new culture and have not settled with the new people yet, take time and review this article first which Axis Capital with a group of insurance and reinsurance companies all over the world from the main branch in Bahamas to Europe, America, Australia and Singapore has prepared for you.
First off, expatriate insurance policies are designed to cover financial and other losses incurred by expatriates 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 since there are a lot of fraudulent ones out there.
The most common insurance policies purchased by expatriates include:
In some cases, specialty insurance can be purchased for high-risk areas of the world that provide coverage for:
It will be wise to get personal property insurance will provide coverage for all your valuable items. This type of cover is usually attached to a home insurance policy which will provide coverage for all "fixtures and fittings within the home" and "additional items of increased value". With a home insurance policy it is possible to include specific items on a "worldwide all risks" (WWAR) basis which will protect your valuables outside of your home.
Automobile primary liability (also known as third party liability) insurance is generally a required purchased in the country in which you are located. Local governments will require this in order to register your vehicle. Be aware that limits of coverage can be very low in some countries and even developing cities like Jakarta, Indonesia or Kuala Lumpur, Malaysia. If you are uncomfortable with the level of coverage available with third party coverage, you may wish to obtain comprehensive motor insurance. This type of plan can increase coverage to an appropriate level of protection.
Because of its commonness in all kinds of businesses, insurance fraud is often hard to avoid exclusive of security measures like security personnel and cameras. Mainly in businesses that have client that go inside their premises, these types of businesses must be watchful against insurance fraud.
This could be as difficult as spotting property insurance claims, to know more about this topic, read on Axis Capital, a group of companies based in Bermuda and offices worldwide. An example subject is property insurance fraud review you can learn personal experiences of victims from Jakarta Indonesia and worldwide.
Slip and fall claims, this is one of the hardest fraudulent insurance scams for a business to contest in court. Security cameras are an effective technique for invalidating a fraudulent slip and fall claim counter to a company. Though there are many who think security cameras a costly investment, the forthright price may frequently be balance through the money saved when in disagreement contrary to a fraudulent insurance claim.
Security personnel are one more technique companies could use to make an effort to decrease the number and seriousness of fraudulent insurance claims. Alert, skilled security personnel is an effective approach to watch on customers and assist prevent any illegal doings at business sites. Business owners who have clients, or the ordinary people, going in and out of their locations everyday have to capitalize in some type of visual security. This may rule over the “he said, she said” aspect prevented in an insurance claim in court. Witnesses, including video, would significantly decrease the quantity of insurance fraud a company has to take care of.
One more technique that may be used by companies to spot fraudulent insurance claims is to trace all kinds of claims touching their insurance. Study into documented fraudulent claims may help business owners in detecting kinds of claims which are more likely to being exaggerated or falsified for financial advantage.
