Is CM&F insurance legit?
A family-owned company, CM&F Group has been in business since 1919. CM&F Group, Inc. has high ratings from consumer bureaus and financial services. They currently have an A+ rating with the Better Business Bureau, while their partner MedPro Group holds an AA+ rating with S&P and an A++ rating from A.M. Best.
What does CM&F Group stand for?
No problem You are the. Excellent Customer Service. Excellent Customer Service. Easy to renew. Multiple reminders are sent over the course of a few months to ensure you renew the liability insurance in time.
What is claims made vs occurrence?
An occurrence policy has lifetime coverage for the incidents that occur during a policy period, regardless of when the claim is reported. A claims-made policy only covers incidents that happen and are reported within the policy’s time frame, unless a ‘tail’ is purchased.
What is an each occurrence limit?
Per Occurrence Limit — in liability insurance, the maximum amount the insurer will pay for all claims resulting from a single occurrence, no matter how many people are injured, how much property is damaged, or how many different claimants may make claims.
What does per claim limit mean?
That refers to the maximum amount of money the insurance will cover for any one instance. For example, you may have a per claim limit of $25,000. In that case, if you were to incur damages of say $30,000 in legal fees, your insurance would pay $25,000, and you’d have to cover the remaining $5,000 yourself.
How does claims made coverage work?
A claims-made policy refers to an insurance policy that provides coverage when a claim is made against it, regardless of when the claim event occurred. A claims-made policy is a popular option for when there is a delay between when events occur and when claimants file claims.
What is claim occurrence?
An occurrence policy covers claims resulting from an injury or another event that occurs during the policy term. Coverage depends on the timing of the event. A claims-made policy covers claims that are made during the policy period. In this type of policy, coverage depends on the timing of the claim.
Is malpractice and professional liability the same?
Malpractice insurance is another name for professional liability insurance for legal or medical professionals. No matter what it’s called, professional liability policies offer coverage if you make a mistake in your professional service. If a client sues you, these coverages will help pay for your legal defense.
What does per person per occurrence mean?
In most instances, you will see or hear policy limits referred to with two numbers — the per person and per occurrence limits. The “per occurrence” limit is that maximum that the insurance company could be required to pay in total, regardless of the number of people injured in a wreck.
What is per person limit in insurance?
The per-person limit applies to each person injured in an accident. That means if one person is injured in a car accident, the most your bodily injury liability would pay for all of their medical expenses is $50,000.