Whether it is your allergies or something more serious, records never hurt. Whether it is your payment records or medical bills you can ensure your claim process is smooth. In case of any dispute it is your records that are going to salvage you in the thick of the moment.

It might be hard to believe but the lack of keeping medical records could mean losing out on a good job offer. Your medical records may have something that is deemed as a risk by the employer. Whether you have the condition or not, if your records are saying so your employer would believe it. This makes it necessary to keep your records updated. And this is just one of the many reasons that urge you to keep medical records. The same will happen if you are applying for health insurance. If your medical records show that you would need doctor visits, prescription drugs and have increased chance of emergencies, the insurance agency is likely to turn you down.

Think about it, in case you had a disability and never updated your records to being physically fit, you would be considered in the disabled category even if you are not. This means so much more trouble to make someone believe that your records are just false and this is no forgery or scam from your side. And since you actually are not disabled, you will not even get the benefits entitled to a physically handicapped person. So you would be stuck from both sides only because your medical records are not updated.

It is very important to keep your own records so that you know each and everything in case of a claim problem. Also in case your insurance request is turned down it would be a good idea to go back to your medical records and double check them for any error. Also you should talk to the insurance as your medical records could even be misinterpreted by them leading to the decline of request.

Another example of erroneous record could be something like a diagnosis error. This means that there may be an instance when you have been diagnosed for a certain condition. After taking a second opinion you found out that you do not have that disease and it was only a false error in diagnosis. If in such a case you do not update your medical records, you could land yourself in trouble for no reason. The insurance company could reject your claim or policy for a thing like this which is actually not your fault.

Just keep your records up-to-date and you will likely not encounter any major problems in your claim or while getting a policy.

1. Provider type: Massage therapists, psychiatrists, etc.
2. Benefits: Childhood immunizations, cancer screenings, etc.
3. Beneficiaries: Disabled dependents, Unmarried adult children, etc.

Each state has its own mandates and some have relatively few mandates, while others have many. Mandates provide a way for as many people as possible to get the health care coverage that they need, without paying out-of-pocket in addition to their health insurance policy. While this may sound great, there is a downside to these mandates – the more your state has, the more expensive health insurance policies will be in your area. If state A has 20 mandates and state B has 40 mandates, health insurance premiums in state B are likely to cost three times as much as a policy in state A. This is because the provider has to assume that you will take advantage of most of these coverage options, which can include podiatrist visits and acupuncture treatments, even though you may not.

However, the number of mandates isn’t the only thing that can drive up the cost of healthcare coverage in a state, as some mandates are much more expensive than others or may be more popular than others. For example, a mandate that many people will end up using, such as a certain number of ultrasounds during pregnancy, will cost much more than an alternative medicine treatment for foot odor. Likewise, a mandate on IVF and other expensive fertility treatments would make insurance costs skyrocket as well.

So then why do some states require so many mandates if all they do is make health insurance more expensive for everyone? The truth of the matter is that it comes down to getting votes. State candidates want to get elected and they know that one way to do so is to promise people what they want. They problem is that, with healthcare, everyone wants something different, which leads to a lot of promises. These promises are then fulfilled by putting new mandates on health insurance policies within the state.

Although health insurance mandates may help to make coverage more comprehensive for everyone, it is also helping to make it less affordable for everyone as well. The ones who benefit the most from the majority of mandates are those with illnesses or disabilities that would usually put them into large amounts of debt if they had to pay for treatment and care out-of-pocket. These people are now able to get affordable insurance that can cover many of their needs, but the larger population of healthy individuals and families are paying over and over again each month for services that they will likely never use. Before you decide on a health insurance plan, check into your state mandates to find out what you are really paying for and if there is anyway to prevent it.

There are two main factors that help keep a small business from acquiring health insurance for their employees: age and pre-existing conditions. For larger businesses with hundreds or thousands of employees, these factors have less of an impact because there are plenty of young, healthy people to help spread the risk around. The plans may be a little higher, but the employer can still secure health insurance for their employees. However, a small business may be completely shut out and denied by an insurance company if even just one or two of their employees are older or have a pre-existing condition, simply due to the fact that there are not enough young, healthy employees to help spread the risk around enough for it to be beneficial to the health insurance provider.

For these businesses, they have no choice but to ask their employees to purchase their own private health insurance or remain uninsured. Their options are severely limited and even if they could secure a policy, it would likely be sky-high. So how can a small business overcome this obstacle? There may be one good option. One that many self-employed persons use to help secure a group plan for themselves that is more affordable than a private, individual plan: join a group of other very small businesses and apply for a policy as one. One small business with 10 employees may not be able to get reasonable health insurance coverage for their employees, but 100 small businesses with 10 employees – totaling 1,000 employees covered under the plan – may be able to, since there is a larger pool of people to spread the risk around to. These plans may not be as cheap as those from employers who have thousands of employees, but it will be a cost effective solution to the alternative of no insurance or costly individual coverage for some of your employees.

Remember, running a small business has many challenges and obstacles that you must learn to overcome and adapt to … finding health care coverage for you and your employees is no different. It is just another aspect of running a small business that you must learn to find a positive, cost-effective solution to, just as you would any other business operation. If you can afford the coverage and can secure it for your employees, you will be able to retain the outstanding employees that you already have and pick up some of the best and loyal employees on the market.

In some other countries, however, the premiums chargeable for car insurance differs from insurer to insurer. Car owners will have to do a fair bit of shopping around for the best car insurance rates available and this can be a mind boggling exercise. One shortcut to finding the best rates for car insurance is to approach your trusted insurance agent who would be able to give you a recommendation or two depending on your needs. Otherwise, you can also check for the best car insurance deals through online insurance companies or brokers. By entering some salient information and with a couple of clicks on the mouse, you will have a fair idea of what kind of insurance rates you are expected to pay for your car.

As mentioned above, the premium rates in Malaysia are fixed and is mainly based on the cubic capacity of the car. In other countries however, the age of the car and the type of the car can have a bearing on the premium chargeable. To promote safety and thus, lessening the risk of the insured perils, having safety features such as anti-lock braking systems, theft locks and air bags will reduce the insurance premium payable. In some countries, even nitty gritties like the age and sex of the owner or driver also affects the car insurance premium payable! I suppose they must have some good statistics to prove that certain drivers of certain age and sex are more prone to car accidents than others!

Whilst the flexible rates policy as practiced in other countries sound attractive as it caters to the exact needs and niche of the owner, I would still prefer the system currently available in Malaysia which takes a whole load of headache away when a car owner decides to choose the right auto insurance.

Even so, some have successfully argued that where the suicide was committed in a state of insanity, the first defence would be knocked out and surely, it would not be against public policy to pay out on the claim. Realising this, insurance companies began to add a further exclusion clause into their life insurance policies to exclude coverage for insane suicide, i.e, where the insured committed suicide whilst in a state of insanity.

Nonetheless, realising that in certain other cases, the insured and / or his estate does not directly benefit from the suicide event (this is so in life insurance policies where the beneficiaries are third parties), insurers have begun to re-evaluate the exclusion towards claims resulting from suicide. Modern day clauses sometimes do include coverage for suicide with an express proviso that the benefit will only take effect after the lapse of a stipulated period of time, usually after 12 months from the date of the issuance of the policy. This, in a way, reduces the likelihood of an insured purchasing low cost life insurance solely with the view to committing suicide to benefit their loved ones.

So far, I have not actually handled any insurance claim resulting from suicide but I have seen some insurance policies with coverage for suicide, albeit on restricted terms. To my knowledge, there is no reported local decisions in Malaysia or even Singapore on an insurance claim arising out of suicide. It would definitely be interesting to see the outcome of one.

Damages awarded in such claims, depending on the jurisdiction where you are in, can include medical costs, compensatory damages, economic damages as well as attorneys’ fees, costs and punitive damages.

If you have a claim made against you or your business arising out of the product you have manufactured or sold, having product liability insurance can make the outcome less likely to be as damaging.

Here are some of the benefits of having adequate product liability insurance:

Assets
Product liability insurance can protect your business and its assets, which could be lost in the event that you’re not able to settle a compensation award.

Trading
Some retailers will not execute purchase orders unless the manufacturer or importer has secured a product liability policy.

If you’re an inventor, manufacturers may not be willing to roll out your product until the proper liability insurance has been secured.

Compensation
Product liability insurance ensures that a client who has suffered damages will be adequately compensated within the limits of the policy and you won’t have to pay out of your own pocket.

Expert Dealing In Claim
Most established insurers that provide product insurance liability have expertise in handling claims and in some cases they are able to settle claims out of court without the need of a lengthy trial.

Legal Costs
Product liability insurance will, in almost all cases, cover all legal costs associated with defending any claims against your business in a court of law.

Recall Costs
Coverage will normally include the costs of recalling a defective product.

Other Costs
Spoilage and medical costs are just some of the expenses you would have to foot out of your own pocket if you didn’t have product liability insurance.

Advice
Insurance agents will also advise you on pattern problems with your products as well as allocating product liability risk among suppliers and customers.

You could say that whilst property insurance is generic, home insurance is specific as it relates specifically to a place of residence and its contents. On the other hand, property insurance is not confined to homes but may include movable items.

Property insurance can cover basic equipment (building structure, furniture, inventory, equipment, and supplies) as well as money and securities, such as loss of revenue or cash in transit, and hard-to-replace records, such as accounts receivable, from damage or loss, some of which are not covered under home insurance.

Home insurance, on the other hand, covers various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at your home. However, it must be borne in mind that a basic home insurance may not cover all of the items discussed here and additional premium may be payable for these items.

Insurance claims rejection (also known as repudiation) is not uncommon. Far more common would be a less than satisfactory compensation offered for the insurance claim. Faced with those scenarios, what remedies are available to the insured / policyholder?

Demand full explanation from Insurance Agent or Broker / Claims Department
If you have an insurance agent or broker who is servicing your account, get their assistance on this matter. Ask them to explain to you why the claim was repudiated. Insurers in Malaysia are required to state their reason/s for a repudiation and if you are unsure of the insurance terms used, your insurance agent might be able to help you. Alternatively, you should write to the Insurer for further explanation on the repudiation or to justify their amount offered for the claim. If the amount offered is not satisfactory, you are at liberty to appeal for a higher amount provided you are able to give good reasons for the same. The Insurer is obliged to give you a written reply upon your written appeal to the Manager / Senior Manager of the Claims Department.

Financial Mediation Bureau (FMB)
The Financial Mediation Bureau (FMB) is an independent body set up to help settle disputes between you and your financial services providers who are its members. Previously, it used to be known as the Insurance Mediation Bureau and the Banking Mediation Bureau but these two bodies were merged to the FMB. If you find that the reply from the Insurer is unsatisfactory, you may refer this matter to the FMB for mediation provided you satisfy certain criterias.

1. The claim must not be more than RM200,000 (Motor and fire insurance/takaful), RM100,000 (Others) or RM5,000 (3rd party property damage);
2. The complaint, dispute or claim is not related to general pricing, product policies or services of the members, cases which are time barred or more than 6 years and cases that have been or are referred to the court and/or for arbitration.

It is worthwhile to note that a decision of the FMB is binding on the Insurer but not binding on the policyholder. Hence, you are still at liberty to seek further recourse if you are not satisfied with the decision of FMB.

Get legal advice
If you are not satisfied with FMB’s decision, you should seek legal advice whether there are any merits to your case and whether filing a legal suit might be the next course of action. Of course, you might want to seek legal advice earlier (prior to FMB) to assess your chances but do bear in mind that you may need to pay legal fees then and the FMB procedure does not involve legal representation. Nevertheless, your lawyer might be able to guide you with the mediation process under FMB to increase the prospect of success unless you absolutely know what you are doing when you approach FMB alone with your case.

Based on whatever little information on Nian Ning that is available on the net and through the mainstream newspapers, I gathered that she was 21 years old at the time of the accident and was an medical undergraduate in the University of New South Wales under the Public Services Department scholarship. I presume she is still single and was not gainfully employed at the material time of the accident.

I believe that it would not be difficult for the family of Lee Nian Ning to establish legal liability in a civil suit against the driver of the ill-fated bus for negligence in controlling the bus. The bus company, as the employer and owner of the bus would be vicariously liable for the actions of the bus driver. As a passenger in the said bus, it could hardly be said that she had contributed to the accident. Therefore, the establishing of legal liability on the part of the driver and bus company should be the least of the family’s concern.
The unfortunate thing about how our law is in Malaysia in respect of a civil claim involving a person whose facts are peculiar to Lee Nian Ning is this – the parents are likely to only be entitled to compensation for funeral expenses and any other reasonable expenses arising out of the accident (cost of police reports, RIMV search, etc). The prevailing law which governs the compensation to the family of a person for loss occasioned by his death is Section 7 and 8 of the Civil Law Act 1956. Putting it briefly, the parents (who would be the lawful claimants based on the facts of her case) would not be entitled to any other claim apart from that which has been pointed out. It is also highly unlikely that the Courts would open the floodgates by allowing exemplary damages or punitive damages against the bus company because this would set a dangerous precedent of all parties who cause accidents to have to pay exemplary and punitive damages over and above what is prescribed under the law.

On the quasi-criminal law side, the Attorney General’s Chambers may prefer to charge the bus driver for causing death by reckless or dangerous driving under Section 41 of the Road Transport Act 1987 which upon conviction shall liable to a fine not exceeding ten thousand ringgit or to imprisonment for a term not exceeding five years or to both. The discretion to charge and if so, under which section of the Road Transport Act 1987 lies solely with the Attorney General.

Based on the above, it would seem that little justice is done to the families of those who perished in the senseless accident. I have previously written about the compensation for loss of dependency arising out of fatal accidents. You will also notice that even the compensation available for loss of dependency can be unjust to certain people as it depends much on the age of the deceased. If anything needs to be changed, the relevant provisions of the Civil Law Act 1956 may need to be reviewed on its relevancy in our times and against the prevailing public opinion on this matter. Parliament must act and the authorities must be held accountable for not enforcing the laws as enacted.

There are companies out there which now offer the claimant an option to sell their structured settlement for a lump sum payment instead and thus, accelerating the payment. This can be done as a one lump sum payment or partial lump sum payment (eg. you only opt to cash out half of your total structured settlement sum).

One of the advantages with such an accelerated payment is the perceived rigidity associated with structured settlement. The time factor (of having to wait) for the monies to be paid is one. Moreover, it would not be possible to add an additional beneficiary to the payee unless a court order is obtained (for obvious reasons). Another advantage of accelerated payment would be to cater for opportunity cost. The claimant may be able to use the accelerated payment to invest in certain investment vehicles which may give him better returns over the same period of time connected to the structured settlement.

On the other hand, staying put to the structured settlement may actually offer long-term financial security and protection to the claimant and in most cases, some form of interest has been factored in to compensate the claimant for having to receive his monies over a period of time rather than immediate. It is not uncommon for claimants to use a substantial amount of any lump sum payment within 3 to 5 years of receipt and if poor financial management was employed, the claimant may be left in a worst off position had he allowed the structured settlement to take its course. The other more obvious reason for not choosing an accelerated payout of structured settlement would be for tax reasons.

It is always recommended that before you decide to choose an accelerated payout, you should consult your attorney or even financial planner to ensure that you make an informed decision after weighing all the pros and cons.