Monday, February 17, 2020

Insurance Essay Example | Topics and Well Written Essays - 1250 words

Insurance - Essay Example The insurance system today is so much integrated in our society that life without an insurance plan looks impossible. The insurance companies have spread their roots and are insuring everything and anything. There are several types of insurances such as life insurance where the customers pay to an insurance company as its saving account to keep its money and give it back when the family of the insurer needs it. A life insurance policy has different clauses and agreements varying from a company to company. Other insurances include health insurance which is a very common concept in the USA as the health facility is very expensive and is not provided by the government. The people in the USA rely mainly on their health insurance plans for their treatments. Health insurance also has many packages and they vary from companies to customers need. Car insurance is when an insurance company pays for your car repair in case of an accident. It seems like that the insurance companies are entities which are there to help people, but in the realty, this industry is making very high profits as they take your dollars as profits and gives you your money in cents. Insurance companies have established their grounds despite facing many problems. The major controversy about insurance companies is coming from the religious segment of the society as all the three main religions Christianity, Islam and Judaism are against insurance. As in Christian priest say that having insurance indicates the lack of faith in god, in Islam, the concept of interest is forbidden so insurance to the Muslim world is not a culture that they should absorb in, and in Judaism, the rabbi says that it is an avoidance of god will. Even after barriers, the insurance companies have reached to new heights in making profits. Insurance companies are very technical in nature as their clauses and contracts are very difficult to understand. The concept of "uberrimae fidei" is a Latin word for 'utmost good faith'. Under this term, the applicants are required to tell the company everything which might cause their decision to change. Every applicant has to disclose the details of the material belonging and also the circumstances and the future expectation of the applicant. The concept is essential as the insurance business is done on the basis of trust. The applicant should have enough money to buy an insurance policy - the payment of insurance is taken on installment basis - it varies from cases to cases. Insurance is an investment that you make in order to get good returns on it. The chance of profitability is only present if there is mutual faith and believes between the client and the investment company. The insurance contracts have significance important because if the deal doesn't work the case goes into court so the two parties should be aware of their treaty in the case of disclosure. "To point out all types of disclosure is not only a difficult task but also to an extent futile, even though such acquisition of types could immensely help in compiling the information for the judges and lawyers to seek an analogy in their respective cases in front of them. However, when one understands the basic notion of burden of disclosure then the nature and types can

Monday, February 3, 2020

Law specialism Incorporated - legal firms and internships Essay

Law specialism Incorporated - legal firms and internships - Essay Example (See Appendix I – Summary of Allen & Overy’s Requirements on page 11) Clifford Chance offers 4-weeks summer and winter intern schemes to all students who are enrolled in Bachelor of Laws (LLB), Master of Laws (LLM), and Graduate Diploma in Law (GDL) courses at the universities in England (Clifford Chance, 2013a, 2013c). Basically, the 4-weeks summer and winter intern schemes facilitate the law students to learn more about how it is to work for Clifford Chance. Even though Clifford Chance is encouraging both law and non-law students to apply for internship during their final year; a significant part of their recruitment and selection process and qualification is to complete their degrees (Clifford Chance, 2013a). After completing the internship programme, students are anticipated to submit their application for trainee solicitor contract (Clifford Chance, 2013b). Freshfields Bruckhaus Deringer offers 3 summer vacation schemes (Freshfields Bruckhaus Deringer, 2013a). ... In case the applicant is not a law degree holder, Freshfields Bruckhaus Deringer requires the applicant to enrol in Graduate Diploma in Law prior to LPC (Freshfields Bruckhaus Deringer, 2013c). To qualify for the 4 weeks internship program at Linklaters, the applicant should be at least on the 4th or 5th year in law-related courses (Liklaters, 2013). In general, working for long hours can be harmful to one’s health (Stevens, 2013). Even though all members of the â€Å"Magic Circle† has their own unique formal policy when it comes to the recruitment and selection process of law students who wish to apply for an internship programme, only Linklaters requires the applicants to let their parents sign the parental consent form (Social Mobility Foundation, 2013). Likewise, only Linklaters clearly stated the no smoking and drinking during the internship period and anyone who will be caught misbehaving (i.e. fighting, etc.) will automatically be disqualified for the said progra mme (Social Mobility Foundation, 2013). For applicants who wish to apply for the 2-year training contract at the Slaughter and May, applicants are required to complete their law degree or pass the GDL or Common Professional Examination (CPE) on top of the Postgraduate Certificate of Laws (PCLL) (Slaugther and May, 2013a). The recruitment and selection process of the â€Å"Magic Circle† members are done formally. These firms require all applicants of training contracts to be on their final year in school. Interns’ salary or wages varies from one firm to another. For instance: Both Linklaters and Slaughter and May offer ?300 per week for their summer vacation programmes whereas Clifford Chance offers