Positivity in Negativity

 A young woman was sitting on her dining table and she was upset that , she has to give Income tax . There is lot of work to be done and many of her relatives will also be coming for lunch on the festival day.
Overall she was very upset .
                  Nearby her, 10-year-old daughter was sitting with her school notebook.
            On asking the mother, she told that the teacher has given homework on the topic "Give Thanks To The Negatives " and said, write a paragraph on those things which do not look good at the beginning; but later they are good . I have written a paragraph.
                Curiously  Mom took the notebook from her daughter and started reading, what her daughter has written.
The daughter wrote ,
           I give thanks  to my final exams because after that the school closes for holidays .
           I thank to those bitter bad taste medicines  which are helpful in getting me healthy .
            I thank to the  alarm clock that woke me up in the morning, which firstly tells me that I am alive.
            Reading the paragraph, the mother felt that, even she has many good things and she very much like those, for which she can also say "thank you".
             "she thought"
            she has to give an IncomeText , that means she is lucky , that he has a good salary, good job .
               She has to do a lot of work at home, that means she has a "house ", a shelter.
               She will have to cook for many members of the family, that means she has a  big family with whom she celebrates on festivals.
            We always complain about negative things or bad things, but their positive side we  are unable to understand .
 Let us understand what is the positive in our  negative, and make each day a great day . Please find out every reason to thank for every negatives and bad which we never like in life.

Professional Indemnity Policy

Professional Indemnity Insurance is a type of business insurance typically for organizations that provide consultation or any professional services to its clients. Professional indemnity insurance covers claims made by the businesses in case their clients have sued them for making them endure any significant financial loss due to their advices and services.

Professional indemnity insurance is also known as professional liability insurance and also as errors & omissions (E&O) in the United States. It is a type of liability insurance that works to protect businesses and individuals who provide consultation and services with the compensation for full and hefty costs arising from the loss that they have caused to their client. The coverage provided by the insurance company focuses on the alleged failure of the service delivery by the company, which has led to the financial loss due to errors and omissions in the service or consultation.

The insurance company handles the confidential data of its clients and their intellectual property to analyze before it provides consultation and required services. Keeping in mind the confidentiality of such information, it becomes very important for a business to take up professional indemnity insurance or professional liability insurance. 

Some companies seek business with consultation and service providers demand that the individuals or businesses need to be covered by professional indemnity insurance. This is in order to lower the risk of not getting compensated for the losses caused by the business during the tenure of their service. Some individuals or organizations that need to have such insurance are accountants, financial advisors, healthcare professionals, solicitors, architects, chartered surveyors, etc.

Most organizations decide to take up professional indemnity insurance keeping in mind their own protection against coughing up a large sum of money, in case they have caused their clients a huge loss due to their own mistakes and have to compensate for that amount.

It does not matter if you share a good business relationship or bond with your clients. A mistake that may lead to a financial loss will disrupt the peace between you. Therefore, it is very important to take up professional indemnity insurance for the protection.

Benefits and Features of Professional Liability Insurance Plans:

With a plethora of features and benefits, Public Liability Insurance is becoming popular in the insurance sector. Here’s a rundown to the key benefits and salient features of Liability Insurance:

Group Policies:

Various insurance providers offer group policies for professional indemnity cover. Members of a single profession will get the coverage. These policies also offer a discount of premium depending on the number of group members added under the group plan.

Coverage:

Professional Liability Insurance Policy covers all the legal liabilities arising out of negligence, omissions, or errors of any professional whilst rendering service that causes damage to the property of third-party or injury to the third-party itself.

Expenses Incurred for Defence:

Public Liability Insurance also covers all the expenses incurred for defence. This means, all the charges and fees applicable to your defence in the court, is paid off out of your sum insured. However, this feature is limited within the boundaries of India only.

Eligibility Criteria:

The General liability insurance Policy is meant for professionals like:

Management consultants, Chartered Accountants, Financial Accountants, Solicitors, Counsels, Lawyers, Advocates, Interior Decorators, Engineers, Architects, Doctors, other medical practitioners, Medical establishments.

When will the Policy Cover?

This insurance policy is based on the claims that are made. It means that the professional indemnity insurance policy will only cover the claims that are made during the tenure of the policy. So, make sure you get your renewals done on time. Also, any financial loss due to a false advice, the negligence, or the faulty analyses will only be covered if those mistakes were made during the tenure of the insurance policy. Claims made before or after the period of the policy will not be covered.

What is the Retro - Active Date in a Professional Indemnity Insurance?

Some insurance companies have a retro - active date. The retro - active date is a period or number of days before the actual or date of inception of the professional indemnity insurance policy. They might cover the claims made during the policy tenure but the event or incident that caused the significant financial loss happened before the period. So, events happened during the retro - active period could be claimed if the claim is made during the tenure of the insurance policy. Mistakes are inevitable can happen anytime in any business. Professional indemnity insurance will be there to protect like by carrying the burden of the monetary compensation that is to be given to the clients by the organization. Such a policy is taken up by the following businesses and individuals –

• Consultants
• Brokers
• Agents
• Notaries public
• Brokers from real estate
• Architects
• Insurance agents
• Landscape architects
• Appraisers
• Management consultants
• Third - party business administrators
• IT - Information technology service providers
• Attorneys
• Quality control specialists
• Engineers
• Non - destructive testing analysts

There are also some specific errors and omissions policies designed for software developers, website developers, home inspectors, etc.

What is Civil Indemnity Insurance?

Some insurance policies cover more than the basic coverage. The professional indemnity or liability insurance will not cover defamation, slander, libel, any breach of contract, the breach of warranty, intellectual property, any personal injury sustained, security, the cost of contract, etc. However, the civil indemnity insurance policy will provide coverage for all these aspects under the “civil liability” cover. The employer’s liability and public liability are some of the exclusions from the list of things.

Tail Reporting Coverage

Tail reporting coverage, also known as extended reporting endorsements cover, is a type of insurance that covers the incidents that occurred within the tenure of the indemnity insurance but was not reported until the termination of the policy. Extended coverage is offered by some insurance companies if the insurance policy remains non-renewed for that time. Of course, the extended coverage gives rise to the premium, which has to be paid if the tail reporting coverage needs to be used for claims.

How can you Do Dates Transfer?

There is coverage called “prior acts” or “nose’, which transfers the retro-active date from an old policy to a new professional indemnity insurance policy. This transfer eliminates the need of purchasing a tail cover. The ‘prior acts’ cover is comparatively less expensive than the tail cover.

Professional Indemnity Insurance - The Perfect Risk Management Tool

The professional indemnity insurance policy is one of the best risk management tools available for businesses, as there is no better way than having an insurance policy pay off your debts or the money you owe to your client. Negligence and mistakes not only cost you your clients but also cost you a fortune. Professional indemnity insurance or a professional liability insurance policy helps manage your business and losses better without having to be sued or legally accused of major financial losses, which might lead to the fall of your entire business or your client’s entire business.

If you do not have professional indemnity insurance, you would either have to pay an amount equal to your client’s loss from you pockets, which might lead to the fall of the business or make the company bank corrupt or might have to face legal actions taken by your client because of to the mistakes you made.

Professional Reputation

In case you client faces a major loss and you have professional indemnity insurance, you might be able to convince your client to settle down with the payment and not make it a legal issue. It surely is an easy way out and has positive long-term impacts. It surely protects your professional reputation as an organization and leaves the window of opportunity for other clients to approach you.

General Exclusions of Professional Liability Insurance Policy:

Although General Liability Insurance is power-packed with various benefits, features and inclusions; however, it has some general exclusions. They are:

1. If you’re under the influence of alcohol or drugs whilst rendering the services.
2. Any criminal activity, violation of law, and fraud
3. Any situation that is caused by or associated with AIDS.
4. Nuclear perils and any war activities
5. The financial loss you bear like loss of goodwill or market.
6. Deliberate or willful non-compliance of the statutory regulations.
7. Infringement of trademark, registered design, patent, trade name, plans, copyright.
8. Usually, a Liability Insurance Policy covers civil liability claims. In case the claims arise out of any violation of law or any criminal activity, then the General Liability Insurance policy does not provide any coverage.
9. Legal liabilities that arise out of any personal injury like wrongful eviction, defamation, libel, wrongful detention, slander, false arrest, etc.

Top Companies offering Professional Liability Insurance Policy:

The top companies offering Public Liability Insurance Policy are as follows:

Reliance General Insurance Company:

Reliance Professional Indemnity Insurance Plan is quite popular because of its quick documentation and comprehensive coverage. All the legal expenses relating to the legal problems arising out of the services provided by professional service providers or professionals are covered. The Professional Indemnity Insurance by Reliance also allows the decrease and increase in the sum insured on a mid-term basis.

New India Insurance:

Public Liability Insurance policies are also offered by New India Assurance. These policies aim at financial protection of the professional in the case of any legal liability. The policy covers only civil liability claims. These legal liabilities can arise out of negligence or errors by you that result in any death or harm to the third-party or any damage to the property of third-party. New India Insurance Professional Liability Insurance also offers an option to avail the group policies.

TATA AIG General Insurance Company:

TATA AIG Errors & Omissions or Professional Indemnity Insurance Cover offers safety and security against the legal liabilities to the professionals. You can raise claims related negligence, omissions, or errors while rendering professional services. The Public Liability Insurance policy is also offered to Law firms, media companies, consultants, financial institutions, IT companies, BPOs and other professionals.

United India Insurance General Insurance Company:

Professional Indemnity Insurance Policy is offered to professionals like Lawyers, CA, Architects, Engineers, Doctors, along with establishments like clinics and hospitals by United India Insurance Company. The term of the policy offered by the insurance provider is 12 months.

ICICI Lombard:

ICICI Lombard Professional Indemnity Insurance Policies are specially designed for doctors. These policies cover legal cases that arise out of the death of any patient or injury to the patient due to negligence, error, or omission. The premium of this policy is based on the limit of the indemnity, ratio of limits, and risk group of the attending doctor. The policy’s jurisdiction is limited within the boundaries of the country.

Conclusion

The professional indemnity insurance protects you against any legal actions or threats, which a client, to whom you have caused a major loss because of your mistakes or ill advices, might press on you. It also saves you from paying a hefty amount of money as compensation to the clients for their losses. The policy also protects you by saving your professional image in public and among other existing and potential clients. Having this policy helps you manage your risks while leaving space for improvement by continuing the consultation and services to keep you in business. Get the professional indemnity or liability insurance and save your business and yourself from the embarrassment of failure due to significant amounts of losses to your clients.

For more details can contact Magnum Insurance broking pvt Ltd 

Email : info@magnuminsurance.in

Run your own Race

I was jogging this morning and I noticed a person about half a km ahead. I could guess he was running a little slower than me and I felt good, I said to myself I will try catch up with him.

I had about a km before I needed to turn off. So I started running faster and faster. Every block, I was gaining on him just a little bit. After just a few minutes I was only about 100 feet behind him, so I really picked up the pace and pushed myself. I was determined to catch up with him.

Finally, I did it! I caught up and passed him. Inwardly I felt very good. "I beat him".

Of course, he didn't even know we were racing.

After I passed him, I realized I had been so focused on competing against him that I had missed my turn to my house,. I had missed the focus on my inner peace, I missed to see the beauty of greenery around, I missed to do my inner Namasarmarna, and in the needless hurry stumbled and slipped twice or thrice and might have hit the footpath and broken a limb.

It then dawned on me, isn't that what happens in life when we focus on competing with co-workers, neighbours, friends, family, trying to outdo them or trying to prove that we are more successful or more important and in the bargain we miss on our happiness within our own surroundings?

We spend our time and energy running after them and we miss out on our own paths to our given destination. The problem with unhealthy competition is that it's a never ending cycle.

There will always be somebody ahead of you, someone with a better job, nicer car, more money in the bank, more education, a prettier wife, a more handsome husband, better behaved children, better circumstances and better conditions etc.

But one important realisation is that *'You can be the best that you can be, when you are not competing with anyone.'*

Some people are insecure because they pay too much attention to what others are, where others are going, wearing and driving. *Take whatever you have*, the height, weight and personality. Accept it and realize, that you are blessed. Stay focused and live a healthy life. *There is no competition in Destiny. Each has his own.*

Comparison AND Competition  is the thief of JOY. It kills the Joy of Living your Own Life.

Run your own Race that leads to Peace.

*Happy Steady Life*

Mid career cisis

Humans are asset for company and commodity for Managers.
As you all might be on the verge or will be in mid career crises.  one of my friend and I started career at the same time. He was so passionate towards his goals that he worked for long hours to achieve 100% of his targets.  After every review, he was the guy who was surrounded by the top people with deep discussions. Lot of awards in every R&R and got promotions also. He was once transfered to such a location where even god will never get 100% success, still this guy tried all his best of ability and made that branch achieve 95%. The branch which was suppose to get closed a year back, so he was continued with the same branch. Most of the top bosses changed or transferred to other region . what went wrong god knows the new bosses made this guy to quite the company in couple of months. I saw him struggle to get a job for almost quite a long time, at last with the help of friends he managed a job and he achieved 100% and became the top performer, he repeated his success  here also that too defeating people who were in system for eight long years. He became the favourites of the top management and politics started against him and he could managed to repeat his success but with hell lot of difficulties. The  problem of internal politics made him frustrated and he resigned. When I studied his growth cycle I came to know that this guy is extremely focused and hardworking and lacking one capability which most of the people with high performance. That one thing makes career go smoothly even if you are mediocre. Yes, this is in fact no management institution teaches but many acquire how and from where I really don't know if you please share since most of the people really love to learn.
Now my submission, this guy was a tool for all the top management to score their browny points and get promotions with hefty bonus. But he was soon forgotten and some don't, they started giving lame excuses when ever he was in difficulties either in internal politics or in job searches. Now he is in deep mid career crisis. Most of the bosses are in some other organisations doing the same tricks and hatching golden eggs for their betterment's.
This now true to my mind, we all employees are only a commodity in the hands of people managing. In the last generation of employees, people joined one company and got retired there only, is it unbelievable, yes I even think how they worked for so long. Companies valued their employees and never tried to get exponential growth in short span. Now a days, the term came in fashion inorganic growth. Let's value the human capital. It may be in abundance now but will soon become scare resource also.

I expect and will appreciate every feedback and suggestions. 

Our school don't teach what is important in life

Our school don't teach what is important in life
1) Life is full of ups and downs, one should make an habit of such ups and downs of life.
2) People will never care for your del respect, so please earn and prove it first .
3) After completion of college no one should expect 5 digit salary. Since no one becomes VP in one night . It requires huge experience and hard work.
4) Your parents were not so boring ( niras) or uninteresting before your birth rather they worked so hard  in your upbringing that has changed their behaviour.
5) You may feel your teachers are very tough and strict since yet "Boss" named animal has not entered your life .
6) Your mistake is yours only and no one should be blamed for this. Learn from your mistakes and grow in life.
7) Consolations and prizes one can see in schools. In some schools one can get to write exams till you clear it. But in real life rules are different.
8) In life's school you don't see classes, sections and month long holiday. You will not get time and people to learn from, rather you need to do it at your own.
9) Television is not life and life is not television serials. In real life don't get intervals or commercial breaks. You have not seen any ads of BMW, Audi or Ferrari since people who buy them don't have time to sit in front of idiot box. So don't waste time.
10) Don't tease your serious and studious friends since you don't know you may have to work under them.
Life takes exams first and teaches later. So live a practical life because life itself is very practical without theories. 

A man was polishing his new car; his 4 yr old son picked up a stone &

Scratched on the side of the car. In anger, the furious Man took his

child's hand & hit it many times, not realizing he was using a wrench.

At the hospital, the child lost all his fingers due to multiple fractures.

When the child saw his father....with painful eyes he asked

'Dad when will my fingers grow back?' The man was so hurt and speechless.

He went back to the car and kicked it many times. Devastated by his own

actions... sitting in front of the car he looked at the scratches, His son

had written 'LOVE YOU DAD'. Next day that man committed suicide...

Anger and Love have no limits...  Always remember.... .

"Things are to be used and people are to be loved"

But the problem in today's world is....

"People are being USED & Things are being LOVED"

Appreciation

Story of Appreciation

One young academically excellent person went to apply for a managerial position in a big company.

He passed the first interview, the director did the last interview, made the last decision.

The director discovered from the CV that the youth's academic achievements were excellent all the way,
from the secondary school until the postgraduate research, never had a year when he did not score good grades.

The director asked, "Did you obtain any scholarships in school?" the youth answered "None."
The director asked, " Was it your father who paid for your school fees?"
The youth answered, "My father passed away when I was one year old, it was my mother who paid for my school fees."
The director asked, "Where did your mother work?"
The youth answered, "My mother worked as clothes cleaner."
The director requested the youth to show his hands. The youth showed a pair of hands that were smooth and perfect.

The director asked, " Have you ever helped your mother wash the clothes before?"
The youth answered, "Never, my mother always wanted me to study and read more books. Furthermore, my mother can wash clothes faster than me."

The director said, "I have a request. When you go back today, go and clean your mother's hands, and then see me tomorrow morning."

The youth felt that his chance of landing the job was high. When he went back, he happily requested his mother to let him clean her hands. His mother felt strange, happy but with mixed feelings, she showed her hands to the kid.

The youth cleaned his mother's hands slowly.
His tear fell as he did that.
It was the first time he noticed that his mother's hands were so wrinkled, and there were so many bruises in her hands. Some bruises were so painful that his mother shivered when they were cleaned with water.

This was the first time the youth realized that it was this pair of hands that washed the clothes everyday to enable him to pay the school fee. The bruises in the mother's hands were the price that the mother had to pay for his graduation, academic excellence and his future.

After finishing the cleaning of his mother hands, the youth quietly washed all the remaining clothes for his mother.

That night, mother and son talked for a very long time.

Next morning, the youth went to the director's office.

The Director noticed the tears in the youth's eyes, asked: "Can you tell me what have you done and learned yesterday in your house?"

The youth answered, "I cleaned my mother's hand, and also finished cleaning all the remaining clothes."

The Director asked, "Please tell me your feelings."

The youth said,
Number 1, I know now what is appreciation. Without my mother, there would not be the successful me today.
Number 2, by working together and helping my mother, only I now realize how difficult and tough it is to get something done.
Number 3, I have come to appreciate the importance and value of family relationship.

The director said, "This is what I am looking for to be my manager."
I want to recruit a person who can appreciate the help of others, a person who knows the sufferings of
others to get things done, and a person who would not put money as his only goal in life. You are hired.

Later on, this young person worked very hard, and received the respect of his subordinates. Every employee worked diligently and as a team. The company's performance improved tremendously.

A child, who has been protected and habitually given whatever he wanted, would develop "entitlement mentality" and would always put himself first. He would be ignorant of his parent's efforts. When he starts work, he assumes that every person must listen to him, and when he becomes a manager, he would never know the sufferings of his employees and would always blame others. For this kind of people, who may be good academically, may be successful for a while, but eventually would not feel sense of achievement. He will grumble and be full of hatred and fight for more. If we are this kind of protective parents, are we really showing love or are we destroying the kid instead?

You can let your kid live in a big house, eat a good meal, learn piano, watch a big screen TV. But when you are cutting grass, please let them experience it. After a meal, let them wash their plates and bowls together with their brothers and sisters. It is not because you do not have money to hire a maid, but it is because you want to love them in a right way. You want them to understand, no matter how rich their parents are, one day their hair will grow gray, same as the mother of that young person. The most important thing is your kid learns how to appreciate the effort and experience the difficulty and learns the ability to work with others to get things done.

If you really liked the story please tell this story to as many as possible ... this may change somebody's fate...