Medical Reimbursement - Commercial Health Insurance

Medical Reimbursement

Term Project: Commercial Insurance

Professor: DR. Martinoff, Olga

Name: Nida Hanif

• Commercial Health Insurance

             Commercial insurance is insurance for a business. In fact, it is one of the most important investments a business owner can make, as it can be instrumental in protecting a business from potential loss caused by unforeseen and unfortunate circumstances. This insurance can provide valuable protection against such things as theft, property damage, and liability. It can also provide coverage for business interruption and employee injuries. The most common types of commercial insurance are property, liability and workers compensation. In general, property insurance covers damages to your business property; liability insurance covers damages to third parties and worker’s compensation insurance covers on-the-job injuries to your employees. Depending on your business, you may want additional specialized coverages. There are two main types of commercial insurance: Property Insurance and Casualty Insurance. Property insurance provides coverage for stolen, damaged, or destroyed property. And Casualty insurance provides coverage primarily for the negligent acts or omissions of the individual, business, or organization.

• Commercial Claims-  is an obligation incurred during the course of conducting a business which arises from goods sold or leased, services rendered, or monies loaned for use in the conduct of a business or profession.

• Claims instructions- In order to commence a Small Claims action, at least one of the following conditions must apply:

 1) You must reside outside of New York City

2) You must be 65 or older with proof of age.

 3) You must be disabled with proof of disability.

In addition, you can only be an individual or sole proprietor, not a corporation or any other type of business. The party you are taking to court must either reside, have an office location, or be regularly employed at a location within the five boroughs of New York. You can’t sue someone outside of New York City in NYC Small Claims court.