Auto insurane AIG
This insurance policy
is essential for all motor vehicle owners since it protects them from legal liabilities that might arise during their vehicle operation. This insurance policy also known as the Act Only policy covers the act liability of the insured vehicle that forms a compulsory requirement of the Motor Insurance Act. No vehicle can be used without this insurance cover and use of the vehicle without this insurance cover is a penal offence.
Bankruptcy law
Bankruptcy law is the name given to the branch of civil law that covers federal bankruptcy and state insolvency laws and regulations as they apply to individuals, municipalities, and businesses. During bankruptcy, a court administers the estate (the property and other assets) of a debtor (a person or business who owes money to others) for the benefit of creditors (a person or business that is owed money). In voluntary bankruptcy proceedings, individuals or businesses may file for bankruptcy in an attempt to resolve a hopeless financial situation; although, from time to time, a creditor may force the filing of an involuntary bankruptcy proceeding. Please read on to find a bankruptcy lawyer, bankruptcy attorney or to learn more about bankruptcy information including the new bankruptcy law. Bankrupty attorney and bankruptcy lawyer information provided by Lawyers.com.
The insurance industry and rent seeking
Certain insurance products and practices have been described as rent seeking by critics. That is, insurance companies have been alleged to have certain products or practices that are only useful due to certain government laws (especially tax laws), and that the insurance industry in these cases generally adds no economic value but instead supports politicians who will continue the legal regime which gives the insurance company these benefits. For example, in the United States the current tax rules generally allow owners of variable annuities (see annuity (US financial products) and variable life insurance (see variable universal life insurance) to invest in the stock market and defer or eliminate paying any taxes until withdrawals are made. Sometimes this tax deferral is the only reason some individuals use these products instead of a mutual fund. Another example is the legal infrastructure which allows life insurance to be held in an irrevocable trust which is used to pay an estate tax while the proceeds themselves are immune from the estate tax.
