Negotiable Insurance

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Posted in DC-Pro on Jul 5, 2001 at 7:57:54 PM
Thanks for the enlightening comments from Mr. Shehab that are very encouraging indeed, particularly from a banker.
BREVITY IS OFTEN NOT CLARITY
To be honest, being a self-employed consultant, with unsteady income, we have not the luxury of giving lengthy explanation here. However, we also realise from our experience in doing training and article writing that brevity often leads to ...

Posted in DC-Pro on Jul 4, 2001 at 5:04:22 PM
CLARIFICATION OF PREVIOUS OPINIONS
To avoid misinterpretation of our previous opinions made on above (please scroll up for it), we have done some edition to the beginning section regarding the difference between an insurance policy and an insurance certificate and other areas as well, to make our meaning more clear to the viewers. We recommend you to re-read the above opinions first before you read on this second part of our opinions.
ASSIGNMENT VS. NEGOTIATION
To respond to the comments from Mr. PGauntlett, "assignable" (ASSIGNMENT) is different from "negotiable" (NEGOTIATION), although both process need endorsement (signature of endorsor with date).
RIGHT TO ASSIGN PROTECTED BY LAW
The right to assign assets, interests or rights is a right protected by the law. That is why an insurance certificate can be assigned to another party and yet it is not a negotiable instrument. Insurance interest can always be assigned so that insurance coverage or interest may move with the goods from one party (a seller) to another (a buyer) without the need and complexity involved for each party to arrange insurance separately by himself.
To respect the law that allows a party to assign his assets, we have ...

Posted in DC-Pro on Jul 3, 2001 at 4:40:59 PM
NATURE OF INSURANCE POLICY & CERTIFICATE
Before we talk about negotiability or endorsement, we have to get it straight the difference between an insurance policy and an insurance certificate.
An insurance policy is ...

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