Cavalcade of Risk No. 204

Once again, the Cavalcade of Risk has return to Insurance Regulatory Law, bringing a bounty of information on a variety of insurance-related topics from a number of different experts. The Cavalcade is a biweekly, rotating collection of articles and links (also known as a "blog carnival") from insurance and other risk-related resources that provides some great information and insight about risks and risk management.

Without further ado, Insurance Regulatory Law presents the 204th Edition of the Cavalcade of Risk:
  • Nina Kallen at Insurance Coverage Law in Massachusetts explains that it is not uncommon for insureds to cry foul when they learn that their liability insurance does not cover the very risk for which they are being sued. In Fraternities and Insurance, Kallen critiques an article asserting that it is wrong for insurance issued to fraternities to exclude alcohol risks. Kallen posits that there are many risks that are covered by the insurance, and “the price for coverage for injuries caused by irresponsible alcohol use may be astronomically higher. It is no shame to either a fraternity or an insurer to enter into a contract under which some events are covered and others are not.” Read the full article for more information.

  • Having absolutely nothing to do with the previous article, Tim Dodge of Ask Tim gives us Some Facts About Drunk Driving and Insurance, which describes how insurance applies when the insured is driving while intoxicated. Get all the facts right here.

  • Jon Haver at Pay My Student Loans has a little more optimistic take on college and insurance in his article When Do College Graduates Need Life Insurance?. Haver tells us that, when it comes to life insurance, there are two different types of policies available. A term life policy is one that is put into place for a specific amount of time. Although the premiums are typically lower than those of a whole life policy, there is no cash-out advantage; it is only payable upon the death of the policy holder. Read the rest of the article for more information.

  • Hank Stern from InsureBlog interviews the Principal Financial Group's chief underwriter of individual life insurance about a breakthrough in how applicants are evaluated. Check out the interview for some great insight.

  • Jason Fisher at Waterway Financial Group, LLC follows up the previous article with his post on Life Insurance Table Ratings. Fisher explains that, when an agent or producer quotes a potentially risky applicant, sometimes the term table rating can be confusing. His article clarifies a life insurance table rating to more simple terms to explain to a consumer what it is, and how it affects their premium. Check out the article, and the handy infographic, as well.

  • Jason Shafrin of the Healthcare Economist asks Are ACOs Working? Medicare's Accountable Care Organizations (ACOs) are risk-sharing mechanisms where savings from reduced medical spending per person is shared between Medicare and the ACO. Are the ACOs achieving their goals? Is reducing spending even the best goal? The Healthcare Economist weighs in. Read the article for some answers.

  • R.J. Weiss of the Insurance Protection Blog gives us some excellent pointers on How to Compare Home Insurance Quotes. Weiss highlights three very important ways to compare home insurance quotes other than price when deciding which policy is best for you. Get all of the details here.

  • Finally, David E. Williams of the Health Business Blog has been testing out a new eResponder Personal Emergency Response System (PERS) that lets the user wander away from the house, and he says that it doesn't get much simpler than this. The system works very well but shows the risks and tradeoffs inherent in such a device: in order to boost battery life and make it work outside the home they had to add new risks: like not being able to locate you precisely and not having a good cellular signal. Read more here.

The next edition of the Cavalcade of Risk will be hosting by Nancy Germond at the Insurance Writer blog. Thanks Nancy!

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