Uber Advises Drivers To Buy Insurance That Leaves Them Uncovered

At a presentation for would-be Uber drivers attended by BuzzFeed News, a company representative advised getting less-expensive “personal” insurance that can leave drivers uncovered and in some cases lead them to incorrectly register their cars in violation of the law.

Sergio Perez / Reuters

Uber is steering drivers to purchase auto insurance that leaves them uncovered when they’re trolling for fares and that often forces them to flout the law by lying when they register their automobiles, according to documents, interviews, and an Uber presentation attended by a BuzzFeed News reporter.

Seven Insurance Principles

seven insurance principlesTo understand how insurance works, it is important to know the seven insurance principles that rules this activitie.

Since the begining, the insurance concept started distributing the risk among a group of people or enterprises.  So cooperation is the main element behind any insurance contract.

From that point are derived the seven insurance principles.  Here they are:

1) Principal of Utmost Good Faith
Both parties, insurer and insured should enter into contract in good faith
Insured should provide all the information that impacts the subject matter
Insurer should provide all the details regarding insurance contract
For example – John took a health insurance policy. At the time of taking policy, he was a smoker and he didn’t disclose this fact. He got cancer. Insurance company won’t pay anything as John didn’t reveal the important facts.

Life Insurance And The Benefits That It Can Provide You

benefits of life insuranceWant to protect yourself and your love ones in times that unfortunate events happen? If you do then it would be great if you get a life insurance.

You might be wondering what this thing can do for you. It can actually give you several different benefits and you better continue reading for you to find out what you get if you acquire one for yourself.

Let’s first have a glimpse of the benefits that you can get from medical expenses coverage. If you buy the premium with the coverage that includes medical expenses coverage then you won’t have to be too much concerned about your bills if you get sick.

You need not worry too much if you encounter accidents and get hospitalized. The insurer will cover the financial needs and all you have to do is pay for the premium you purchased monthly or quarterly.

The History and Principles of Insurance

The History and Principles of InsuranceInsurance History

Insurance as we understand it now might be associated to the Huge Fire of London, which in 1666 devoured 13,200 houses. Fallowing this disaster Nicholas Barbon opened an office to insure buildings. In 1680 he established England’s first fire insurance company, “The Fire Office”, to insure brick and frame homes. The first insurance firm in the United States provided cover against fire was founded in Charles Town (nowadays Charleston), South Carolina, in 1732.