In the context of insurance

In the context of insurance, remuneration or compensation means been paid out when the act you are insured for happens.
It is often hard to see insurance as a service, but that is exactly what it is.
And you need to confirm beforehand how your insurance company will be remunerating you.

Often you can assume that because you are insured for $xx.xx that you will receive that amount. But that is not always the case. The insurance company might offer a monthly remuneration, or to remunerate only when a certain event occurs.

Insurance remuneration

In some cases the remuneration might not be as you expect it. Some examples would be:

• Auto Insurance, (Accident). The insurance company will only remunerate the ‘scrap’ value of the vehicle.
• Auto Insurance, (Theft). The insurance company will only remunerate you in 3 or 6 months in the hope of the car been recovered.
• Auto Insurance. The insurance company will remunerate what ever is cheaper, (and often less advantageous for you), repair of the vehicle or scrap value or even book value.
• Recreation vehicle insurance. You might have to prove that you used the vehicle within the manufacturer limits. Something that is almost always impossible to achieve.

Remuneration vs Compensation

Remuneration is the payment for a service or to recompense for losses. Insurance can be viewed as a service.
Compensation is the act of compensating, or the act of receiving remuneration.
In the context of insurance both terms are interchangeable. You either get compensated for your losses or the insurance company offers you remuneration for your losses.

Conclusion

When it comes to insurance remuneration you need to make sure that you have all the facts.

• How will the insurance pay you out?
• Are the expectations realistic, (what you need to prove)?
• Is the waiting time before remuneration too long?

Integrating Electronic Signing in Complex Business Processes Over the Web: The 3rd in a Series of New Whitepapers From Silanis Technology

Silanis Technology, the industry’s most experienced electronic signature provider with more than two million consumers and users in business and government, today released a new whitepaper on its online resource center. Entitled “Business Process Integration Meets Electronic Documents and Signatures”, the whitepaper presents the considerations for integrating electronic signing in complex business processes and high-risk transactions over the web. [PRWEB Feb 7, 2006]

Full Story

Washington, DC Hosting Bird Flu Summit for Businesses

Business leaders will have access to bird flu experts from around the world to address pandemic prevention, preparedness, response and recovery February 27-28, 2006, at Washington, DC's first Bird Flu Summit. [PRWEB Feb 7, 2006]

Full Story

American Apartment Owners Association Unveils Updated Vendor Directory

The American Apartment Owners Association, the nation’s leading landlord and income property owner association, releases the latest version of its vendor directory. [PRWEB Feb 7, 2006]

Full Story

Today's featured article

Consequences of Late Insurance Payments
Personal Loans and Lines of Credit
Russ Whitney - Building Wealth Through Real Estate
What You Can Do To Sell Your Home Fast
Why Is It important!
How Can A Qualified Mortgage Consultant Help Boost Your Credit Scores?
What To Expect In Closing Costs On A Home Purchase
Stock Market Course .... Day Trader Online Seminar ... Can You Generate Profits Trading from Home?
Personal Loans UK : A Brief Introduction
Buying Florida Investment Properties and Where Its Hot
Insiders Guide to Snaring the Best Lease Deal
Credit Repair? Its All Up to You
I Believe God Wants Me To Tell All In Real Estate
Cash Back vs. Rewards Credit Cards
Bankruptcy As An Option
Two for the Money
Getting a Mortgage Quote Online
Debunking the FAFSA Myth
Japanese Overseas Travel Insurance
Insurance Glossary of Terms
How Good a Deal Is Your Banks Mortgage Insurance Plan?
9 Deadly Trading Mistakes!
Refinance Mortgage Rate and Mortgage Rates
Getting a Better Consolidation Loan Secured
Why Choose a Remortgage?