Reinstatement and Day One Basis of Cover

by Adam BishopDecember 17, 2010

This article forms part of our insurance glossary and how-to series. Have you ever heard of Reinstatement and Day One Basis of Cover? What is Reinstatement Basis of Cover ? What is Day One Reinstatement Basis of Cover ? Is Day One Reinstatement more expensive ? Why choose a Day One Basis ? Example of calculating a [...]

Read the full article →

Flood insurance to be cancelled in the UK

by Adam BishopDecember 2, 2010

It’s not long since we had the latest round of flooding in the UK and I remember when it hit. As I watched the news that night I couldn’t help thinking “Here we go again.” and “This is just getting worse and worse, we should have seen this coming”. I doubt I was alone! For [...]

Read the full article →

Difference between Loss Adjusters & Loss Assessors

by Adam BishopNovember 23, 2010

Have you ever wondered what a Loss Adjustor is?  What about a Loss Assessor?  Perhaps you already know roughly what they both do but would like to know more? The following article will attempt to elucidate! Contents What is a Loss Adjuster? What does a Loss Adjuster do? What is a Loss Assessor? What does [...]

Read the full article →

We’re hiring!

by Adam BishopNovember 1, 2010

At ADM Network we’re currently looking for software developers and sales executives in the insurance software sector to join our rapidly growing operation in Cambridge, UK. If you haven’t yet heard of SchemeServe, please see http://www.SchemeServe.com for more information on the software you’ll be working on / promoting. Full job descriptions for both roles are [...]

Read the full article →

The Average Condition

by Adam BishopOctober 26, 2010

As part of our ongoing insurance how-to we continue to explore the terminology and practices used in the Insurance world. Today we will be looking at The Average Condition and will explore ; What is an Average Condition ? Example of Average applying to a Claim Special Condition of Average – 75% Why do Insurers [...]

Read the full article →

Operating Ratio

by Adam BishopOctober 14, 2010

As part of our ongoing insurance how-to series we continue to explore the terminology and practices used in the Insurance world. Today we will be looking at Operating Ratio and will explore: What is an Operating Ratio? How do you calculate an Operating Ratio? How can an Operating Ratio help me with my business? What [...]

Read the full article →

Binding Authority

by Adam BishopOctober 7, 2010

This week we’ll be expanding our glossary of insurance terms as we delve into Binding Authorities. Article contents: What is a Binding Authority? How does an Insurer control a binding Authority? How does the Insurer get their premium? Who handles the claims? What is a Binding Authority? A Binding Authority is an agreement whereby an [...]

Read the full article →

Lapse Ratio

by Adam BishopSeptember 28, 2010

As part of our ongoing insurance how-to series we continue to explore the terminology and practices used in the Insurance world. Today we’ll be explaining Lapse Ratio, how it is used and the effects is has, giving examples and calculations. (If you haven’t already, you may also like to see our articles on Claims Loss [...]

Read the full article →

Claims Excess or Claims Franchise?

by Adam BishopSeptember 22, 2010

As part of our ongoing insurance how-to series we continue to explore the terminology and practices used in the Insurance world. Today we’ll be explaining Claims Deductions; we’ll break down the Claims Excesses and Claims Franchises that are applied by Insurers and explain why they use them. We will explore: What is an Excess and [...]

Read the full article →

How to calculate Earned Premium example

by Adam BishopAugust 25, 2010

Following on from our glossary series of insurance terms and methods in which we outlined Claims Loss Ratio and Combined Ratio, I would like to take a look at the concept of Earned Premium and give you a few examples as to the usage, importance and pitfalls when working with it. In this article I [...]

Read the full article →

← Previous Entries

Next Entries →