Depending on how long homeowners have lived in a house, it is natural for belongings to accumulate, and it is hard to keep track of things, especially if they own more than they realize. Homeowners can miss some things when they try to list off their valuable possessions. That is why creating or updating a home inventory of your possessions at least annually offers benefits beyond having a total accounting…
Suretyship is about having the assurance that a significant task or obligation will be delivered as promised. Surety generally takes the form of a bond, which is an agreement or contract that the surety company is indebted to or at some point must pay the one who holds it, in the scenario that the contractor fails to meet some obligations or terms of the contract. What is a surety bond,…
Every year is off to a busy start, with people listing their priorities off, including what they aim to accomplish for the year ahead. Often, with so much to consider, many policyholders forget to include reviewing their policy on their list. So much can happen in a few months; it may include major purchases, significant life events, and many lifestyle changes or circumstances. Hence, it is essential to review one’s…
The past year has various industries suffering from the impact of the coronavirus pandemic. The insurance industry is no exception as it has to deal with several issues relating to business continuity, services, and operational profit. All of which are highly disruptive, prompting insurers to strive and adapt to profound changes. People can only predict what 2021 can bring, but one thing is for sure, we live in a world…
The coronavirus pandemic has affected the normal flow of work and business, halting operations during the first few months of 2020. Various companies, including insurance firms, have temporarily closed during the enhanced community quarantine implementation in March and continued during the Modified ECQ in May and the current general community quarantine. The strict regulations of the community quarantines have affected individual lives and the workflow of businesses. For example, most…
The coronavirus pandemic has affected nearly the entire world as almost 4 million individuals were infected with the virus, and around 200,000 died as a result. Many people became conscious of their health, and countless businesses were forced to close down or shift to a work-from-home setup. Many people realized that health is indeed wealth, and they’re already keeping themselves as healthy as possible to avoid contracting the disease. Electrical…
The Philippines is notorious for the frequency of fires that occur all across the country, and that the number of fires increases every March, the Fire Prevention Month. The Bureau of Fire Protection recorded a total of 83,199 cases of fires occurring from the year 2014 to 2018. There is an average of around 16,640 fire incidents occurring every year or 45 fires a day. The significant number of fires…
Driving is already dangerous during the day since there are many different drivers out there ranging from the careful to the reckless, with the latter being a significant contributor to auto accidents, but late-night driving increases the risk. Fatal car accidents are more likely to occur at night than in the day, and it’s because it’s harder to see the road in the dark compared to the day. Because it’s…
The Taal Volcano has recently erupted last January 12 and spewed ash up to 14 kilometers into the air while generating volcanic lightning. Due to the eruption, many people have been affected in various ways, including damages to homes, livelihoods, and other property. The losses incurred are costly and make the idea of getting insured more practical for the property owner. The Acts of God coverage started seeing popularity among…
Why is Motorcycle Insurance Important for Filipinos? A motorcycle is one of the commonly used vehicles of Filipinos, not only because of its versatility, but also the efficiency it provides. Driving a motorcycle is also one of the sources of income of most Filipinos; many passengers prefer riding this than taxicabs because they can arrive on time on their destinations. But, as we can observe on the daily news, more…