WinsurTech Blog | Insurance Concepts and Practical Solutions

Introduction

Term insurance without any doubt is one policy every family needs to have thanks to the combination of low premium outgo for a decent high-value cover. Post the emergence of e-commerce, financial products too are being made available online and that too with great ease. So in case if one wants to go for a term plan, they have the option of doing it the online way. Buying a term insurance plan online is the cheapest way to buy insurance as it not only saves your time and also money. There are some […]

Purpose of Workers’ Compensation Insurance and What All it Covers?

Introduction
Workers’ compensation insurance is an insurance type which provides wage replacement and medical privileges to employees injured in the period of employment in exchange for the compulsory surrender of the employee’s right to sue their employer for the tort of carelessness. Workers’ compensation is commonly known as workers’ comp. Workers compensation insurance protects your workers and employer’s business from the workplace or work linked accidents, sicknesses, and also death. Almost every country requires that employers have insurance to cover medical costs […]

1. Alternative Markets:
A term regularly utilized in hazard financing to allude to one of various hazard subsidizing procedures (e.g., self-protection, captive) or offices (e.g., ACE, XL) that give inclusions or administrations outside the domain of that given by most conventional property-casualty (P&C) back up plans. The elective market might be used by huge companies, for instance, to give high cutoff points of inclusion over huge self-insured retention (SIR), or by littler substances taking an interest in a risk retention group (RRG) or gathering hostage program. Note that the refinement among customary […]

Copay vs. Deductible: An Overview

Copays and deductibles are both features of health insurance plans. They involve payment on the part of the insured, but the amount and the frequency are different. A copay is a fixed amount paid by a patient for receiving a particular health care service, with the remaining balance covered by the person’s insurance company. A deductible is a fixed amount a patient must pay during a given time period, usually a year, before their health insurance benefits begin to cover the costs. Generally, plans that charge lower monthly premiums require […]

What is CoInsurance?

Coinsurance is the amount, generally expressed as a fixed percentage, an insured must pay against a claim after the deductible is satisfied. In health insurance, a coinsurance provision is similar to a co-payment provision, except co-pays require the insured to pay a set dollar amount at the time of the service. Some property insurance policies contain coinsurance provisions. Coinsurance also applies to the level of property insurance that an owner must buy on a structure for the coverage of claims.

Breaking Down CoInsurance
One of the most common coinsurance breakdowns is […]

P & C Insurance Industry Overview in USA

Property and casualty insurance is a wider term which includes many types of insurance. The term property and casualty insurance include two primary coverage types namely property protection and liability coverage.

Property Insurance
Property insurance is relatively easy to explain. It covers many types of insurance which are meant to cover property losses/risks that we face or may face when things we own gets damaged or destroyed. There are three common types of property loss – Loss of or damage to the article itself, loss of income […]

Introduction

Property/casualty insurance can be countermined into two major categories: commercial lines and personal lines. Personal lines, as the term suggests, includes coverages for individuals- vehicles and household insurance. Commercial lines, that accounts for almost half of U.S. property/casualty insurance premium, includes the many kinds of insurance products designed for businesses.
Commercial and business insurance performs a vital role in the world economy. Without it, the economy would not function properly. Insurers primarily protect the economic system from failure by considering the risks intrinsic in the production of goods and services.
In the US itself […]

Purpose of General Liability Insurance and What all it covers?

General liability insurance is also known by another name as business liability insurance. It is a coverage that protects you from a number of claims including bodily injury, property damage, personal injury and all others that can occur due to your business operations.

Purpose
The main purpose of the general liability insurance is to cover the payments for damages that the company is liable for and also to cover legal expenses for its defense. These policies cover the acts that happen due to carelessness […]

How to Create new request after getting response in quickbook desktop

For creating new request in quickbook we need to add this request to queue.

For example:

You want to get customer information which are related to invoice. For this first you will create invoice request function and send xml to web connector.

Function Invoice_request(requestID,user, action, extra, &$err){
<?xml version=”1.0″ encoding=”utf-8″?>
<?qbxml version=”‘ . $version . ‘”?>
<QBXML>
<QBXMLMsgsRq onError=”stopOnError”>
<InvoiceQueryRq>
<OwnerID>0</OwnerID>
</InvoiceQueryRq>
<CustomerQueryRq […]