We encounter some competitors who give our business a bad rep. In general, most insurance brokers work very hard and do the right thing, but some do not. Most brokers earn a 10% (sometimes 15%) commission on the placement of your coverage. That commission is gross revenue for the brokerage. The brokerage then pays its overhead (rent, highly paid employees, and its broker malpractice premiums et al) and that leaves profit, which is not huge.

So if you pay $45,000 for your malpractice insurance coverage, the broker is paid $4500 by the insurance company. I write ‘paid by the insurer,’ since this commission is built into the rates. If you went directly to an insurer to buy your coverage, the insurer would not lower your premium for the broker commission; it would keep the money even if you have no broker.

The next area of compensation for a broker is fees. An insurance broker has to disclose any fee charged to the client by law as broker fees. You will see fees ranging from $350 to $1000. This is extra compensation that a broker charges to cover his/her overhead. Many brokerages cannot make a profit on premiums below $50K or even $100K depending on the type of service they provide, and the expense of the staff providing those services. The only other fees that you will see that are normal and legitimate are premium taxes and a stamping fee (effective 2/1/10 at 3.225% for CA). This money does not go to the broker, but to the state and the 3rd party company who files the tax, respectively.

We encountered a brokerage who charged 30% of the premiums in fees, and 15% in commission so its total compensation was 45%. We will call this broker ABC. It hid these fees in the insurance quote, and called them policy fees, binding fees, underwriting fees et al. This is not ethical, since all these fees should have been called broker fees since that is who these fees are paid to.

If you ever see fees other than a broker fee and premium tax on a quote for your medical malpractice insurance, ask questions. Also if you are financing your premium, make sure you read the fine print on your premium finance quote. Most brokers will arrange financing and will charge a small fee, which slightly increases the interest rate.

But the ABC broker we found, who was charging the 45% compensation was also charging big fees on the financing. So an interest rate that should have been 8% or 9% was in fact 22%, since the broker added another 5% of commission which it buried in the financing. Therefore the total compensation was 50%, unbelievable!

The other sign that you have a non-ethical broker is if he/she pushes you toward a Risk Retention Group or RRG, without offering an “A” rated AM Best insurer. AM Best Rating is an industry rating system for insurance companies, that’s not fool proof but considered good for evaluating the financial strength of medical malpractice insurers. In my opinion, RRG’s are a very legitimate option for malpractice insurance, if the financially rated insurers are unaffordable or they will not cover you for your risk. Brokers like ABC love to recommend RRG’s since they can be cheaper than a normal insurer, because RRG’s charge for reserves like insurers do.

Brokers, like ABC, offer doctors RRG quotes with big savings, and will then add big fees to that cheaper RRG insurance quote. Here are some concerns associated with an RRG, which a broker should explain prior to placing you with one:

o In the event of bankruptcy (RRG’s have a much bigger chance of becoming insolvent than an “A” rated AM Best normal insurer). A judge could order you and all the members of the RRG to pay for the run out of claims of the bankrupt RRG for as long as it takes to pay every claim. This means you may be stuck paying double insurance premiums, your new insurer who replaced the bankrupted RRG, and the bankrupt RRG who you’ve been ordered to fund till it unwinds.

o If you are in an RRG, most of the standard insurers will not take you till you change to an “A” category rated AM Best insurance company.

o Some hospitals will not credential a doctor if he is with an RRG. A broker should have you check with your hospitals prior to buying an RRG.

o If an RRG goes bankrupt, while you have an open claim, then it will not likely be able to pay your lawyer’s bills for defense, and your attorney will come to you for payment, and any judgment will be your personal liability.

If you have a good honest broker, he will tell you all of this. If you have a broker like ABC, all he/she will talk about is the savings, while he/she makes an obscene compensation while charging you outrageous fees.

Are you in need of a cash advance until your next payday? Has there been an emergency, car repair, or another reason why you are short on cash and you need a little bit to help you out in the short term? There are many ways to get this money including borrowing from friends or relatives. If this is not an option you can always get a faxless cash advance online and avoid the possibility of being seen at your local payday loan store. Here is how to get your loan online.

First, you need to understand that with a faxless cash advance you will not be asked to fax in any documents, but you will also not be able to get as large of a loan as if you were willing to fax in proof of your income, banking account, and other things. This is important because if you need more than $500 you will not be able to get it without faxing in your document, so keep this in mind.

Now if you are going to get a cash advance online you need to find 5 companies that will do a faxless version before you go any further. You will want to check all of these companies out thoroughly so that you do not get scammed. This is what to look for.

They need to have a physical address listed and not a PO Box. This shows that they are real and are not someone trying to hide their location while they run a scam. Most scammers will not use a real address and that is why a PO box might show up.

They also need to have a working customer service number. Preferably a 1-800 type of number, but as long as it is a working number that you can call the company from you will be fine.

They should also have references or testimonials on their website. This gives you an idea of what past borrowers are saying about the lender and this is a good indication of what you will be getting into.

You can also check them against the better business bureau and attorney general to give you peace of mind.

Now you should have at least one or two good solid companies to work with. Simply apply for your faxless cash advance, get approved, and collect your money in your bank account. Then, pay the loan back and move on with your life.

Only few don’t want a cash advance or a pay day loan. But a person who works in a company often applies for a cash advance loan. It has more disadvantage than advantages. But for those who need it fast, they don’t care of what interest in takes as long as they can get the money real fast. The most, to consider, advantage part of advance is you can have it when you need. The rest is disadvantage. The reasons are: you will be paying it in short-time and on a higher interest rate. You will start the payment on your next pay day. So it is expected that during the next pay day 30-40% of your salary is deductible with your cash advance or pay day loan. But at least what ever debts or payables you need to pay on time, without waiting for your next pay check, you can pay it right on time.

If you need advance the most that you can be required is a social security number and your three month salary slip. The cash advance companies are no longer strict with regards to documentary compliance as long as you have the two; a salary slip and social security number. When in rush expect a money deposited in your bank account within the next 24 hours after the online application processing. No need to fax more information and the good thing is that none of your information is ever shared with any third party organization.

Any form of natural calamity is unavoidable, and if you have bought a home in a flood prone area, you would be better off getting quotes. There are many homeowners who have bought a home in flood prone areas and they realize how important it is for them to get insurance for their property.

You can expect severe damage to your property and other belongings during times of flood. All the damage to your property could amount to a lot of money, and the best way to get compensated for your loss is through quotes. While there are many people who think that they could very well do without any kind of insurance, the truth is that you can never be financially prepared for a flood situation that could create havoc in your home. Imagine replacing all the valuables in your home? It could drain out all your savings and even leave you bankrupt. The most practical and sensible way to recover from damages caused by flood is to go for the right quotes.

These quotes need not always be very expensive. There are many of these quotes that are available for cheap, and could really come of immense use during times of emergency. This gives you enough reason to look for a quote that would suit your lifestyle and your budget. The purpose of this insurance is to not just get compensated for your loss or damages to your assets, but also help you clean up your home. Cleaning a flood ravaged home is not as easy as cleaning up any other ordinary home. At times doing up your home after a flood could cost you heavily, and this is where affordable quotes come into the picture.

The cost of these quotes varies from one area to the other depending on the location of your home. If your home is situated in a high-risk flood prone area, the cost of will definitely be higher. This also implies that if your home is in a low risk area where floods might or might not come, the cost of policies will be lower.

If you live in a high-risk area, it only makes sense to get a reliable deal on this insurance. It may look a little expensive to you, however when you consider the enormous expenditures that come with the occurrence of a flood, it sure is worth investing your money in. The cost of rebuilding a home after a flood could really bog you down, and preparing for such a catastrophe through the right is the best thing that you can do.

Since home insurance does not cover the flood situations, it is wise to go for a separate plan to safeguard your finances. Once you know the value of your assets, you can go ahead and choose quotes that could relieve you from a lot of stress and heartburn during a flood.

When you decide to purchase disability insurance, think twice before you confirm your contract. You have to be very careful about where and when you purchase your insurance.

It’s not hard to conceive that insurance companies are actually money-making corporations. Their primary aim is to gain wealth, and they achieve this by offering services. What you get is not charity or welfare – you get a service that you also pay for.

You should check many companies before you settle down to a specific disability insurance company. And, when you have chosen the company that you believe to be the most trustworthy, then it is time to find the best insurance coverage for you. Think carefully about what your needs are and try to watch all the terms that are included in the policy. Many contracts have “hidden traps.” Watch out for these deceiving stipulations; have a clear picture of everything.

Be ready for the possibility that insurance companies may deny your disability claim. Keep in mind that disability companies will do everything possible to discredit your claims. If you cannot clearly prove that you are unable to continue your work due to a disability, then they will probably deny your right to get the insurance. This is a very common practice in insurance companies that don’t have a trustworthy financial background or a good reputation, so be smart when you choose your insurance company.

All in all, you should be very careful about which insurance company you choose. Most companies will present you with a term that initially sounds perfect, but that’s not always the case. Choose to invest your money only in insurance companies that will actually keep their promises.

Perhaps the first thing to be said is that a prepaid credit card is something of a misnomer. If something has been prepaid, then it is not strictly speaking, of course, a “credit” transaction. But the name has caught on because prepaid “credit” cards can be used – for most intents and purposes – just like a standard credit card.

The principle behind the prepaid credit card is rather akin to the – now old-fashioned – idea of a book or record token, or a prepaid phone card. In other words, a payment is made in advance against an anticipated future purchase and, provided there are sufficient funds represented by the token or the prepaid card, the transaction can proceed without the need for any cash payment at the time of the purchase.

Prepayment is made by “loading” the card with cash paid in at the Post Office, a bank, a PayPoint or Payzone till. This can be made through an employer, a transfer through a bank, or by using a standard credit card. The prepaid card is then ready to be used in just the same way as a normal credit card would be used.

To complete a purchase, you will need to key in a PIN number at the shop counter and the amount of the transaction is deducted straight away from the balance on the card. The prepaid card can be used in the same way for shopping online.

There are a number of benefits to using a prepaid credit card:

o Perhaps the most important is the control it exercises over spending. Since all purchases are prepaid, it means that you are accumulating no debts through its use and spending is limited to however much has been pre-loaded onto the card:

o It can be a good way of controlling a child’s spending, for example, with a monthly statement of how the money has been spent;

o Carrying a pre-paid card is also somewhat more convenient and safer to carry than cash;

o For similar reasons, many such cards are also an ideal alternative to travellers’ cheques when travelling abroad. Some providers of prepaid credit cards now also offer currencies such as Euros and US Dollars for easier use when withdrawing the pre-loaded cash abroad. Once again, they are more convenient and probably safer than carrying local currency.

Because prepaid credit cards involve no actual spending on credit, an applicant’s credit history or rating is irrelevant to the card-provider, so they will be issued without the usual credit reference checks.

Of course there are charges involved in obtaining and using a prepaid credit card and these are probably the main drawback. Some providers may charge an application fee when the card is first issued and others might charge a monthly subscription fee. There may be fees for loading the card with cash and/or fees for making purchases and withdrawing cash. If the card is lost or stolen, some providers might charge for the issue of a replacement and still other providers might charge a renewal fee when the existing card expires.

When considering just how useful prepaid credit cards might be for you and your family, therefore, it would be important to consider how much you are likely to pay for their use.