It goes without saying that regardless of the geographical location the interests of lending institutions and insurance companies are bound to meet. The above mentioned is naturally true for Ukraine. Banks, investment banks, credit unions worldwide always stipulate in their agreements with a borrower that the mortgage be insured properly. Banks in Ukraine, however, went to greater lengths in this matter. The listing of accredited insurance companies has become commonplace. The underlying principle of this phenomenon comes down to limiting the choice of insurers for the borrowers upon the bank’s discretion. It has both positive and negative effects which will be uncovered next.
It’s no secret that recently numerous developments in political and economic spheres brought about changes into the life of whole country. If we compare ordinary people’s welfare last year to life in Ukraine 2015 and projected life in Ukraine 2016, there will be an obvious and major change, namely – the impact of depreciation of hryvna against US dollar. Sky-rocketed prices made a great number of people reconsider their expenses, including the amount of money that was normally spent on insurance.
Everyone knows that networking is useful, but not all of us are actually eager to do it. There are always plenty of plausible excuses like work or home affairs which we would rather attend to than go to an event to meet and exchange business cards with strangers.
Lately there have been several major losses in Ukraine associated with the insured events such as fire in the DataLux warehouse in December 2007 ($ 39 mln worth of indemnity), gas explosion in “Azovstal” facility ($ 31 mln worth of indemnity), or fire in the “Eldorado”’s warehouse in August 2010 ($ 11.6 mln worth of indemnity). The gross volume of indemnities paid totaled to hundreds millions of dollars. Nonetheless many companies purchasing insurance policies are not happy with their coverage. The main reason for it that Ukrainian culture of insurance is not as developed as in mature markets. Let’s try to analyze the main flaws of the insurance that worry the clients.
Insuring vehicle fleets in the insurance companies which do not only offer the best rates but also guarantee speedy repair is a must for big vehicle fleets’ owners. Indemnity denial as well as the significant breakdown time brings about similar losses since vehicles often are the capital goods for such companies. Below are the key aspects that should be considered before signing insurance agreement.
What aspects should HRs pay attention to when concluding corporate health insurance policy for the employees?
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