Insurance Audit Slashes Premiums

Article Abstract:

Careful re-evaluation of insurance coverages can save firms' costs. A financial manager can determine whether a firm's current coverage is excessive by using the risk- analysis checklist provided here. Insurance audits often find double charges against many liabilities. While rating mistakes are rare, a careful analysis is recommended. Many insurance coverage contracts should be audited and analyzed regularly to keep companies from over-paying for coverage.

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High Interest Rates Hold Down Insurance Costs

Article Abstract:

Insurance costs are tied to interest rates. Insurance costs are low because of deregulation, competition, and high interest rates. Forecasts concerning the insurance market predict that rates will be competitive and pharmaceutical-type companies will become more difficult to cover.

Insurance

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Careful Record-Keeping Lowers Insurance Cost

Article Abstract:

The cost of product liability is expected to rise. Keeping careful records of supplies used and obtaining a certificate of co-insurance from suppliers will help reduce premium rates. When purchasing product liability insurance check for a well-established company.

Management, Economic aspects, Business records, Claims (International law)

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