Author: Roy Oritsegbubemi Ekengbuda

Southern Sun Ikoyi Lagos

Southern Sun Ikoyi is strategically located within the government residential area of the city and is adjacent to Victoria Island. The Hotel offers cooperate travellers excellent accommodation and service. With over 195 tastefully furnished rooms, with luxurious decors, modern amenities, to ensure comfortable stay. Southern Sun Ikoyi has a variety of rooms to meet all the needs of their clients. They have the following rooms: 86 Standard Rooms. 97 Executive Rooms. 5 Junior suits. 4 Standard suits. 2 Executive Suits. And 1 Room for the physically challenged. And all these rooms mentioned above are fitted with: Air Conditioning, Flat...

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Insurance Cover For Your Small Business

As a small business owner, the last thing you want, is to take all the risk in your business when you can transfer a risk by way of insurance. In Nigeria today, it is common for businesses in general not to get any form of insurance cover, because they do not believe they can afford the coverage, and when something happens, they cry to the state or local government for help. Some Of The Risks Your Business Should Be Protected By Insurance. Insurance On Your Building: This is very important, especially if you own the building you use for business. But if the building is rented or leased, this is the responsibility of your landlord. Insurance On Properties: This is the most important coverage, this is insuring all personally acquired items in your building, e.g Table, Air conditions, Equipments etc… You should insure them on the risk which is most likely in your location, which could be either flood, fire or theft. Motor Vehicle Insurance: When you use your personal car for your business to aid movement, it is important to take this cover as not doing so may cripple your business to some extent. Health Insurance: This is also important because we all know health is wealth, but this totally depends on the kind of business you are into, e.g if you are into selling cloths or bags...

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Small Business Start-Up: Cash Management

As a young business owner, it is important for you to monitor how every penny in your business is spent, because this could be the difference between the success and failure of your business. If you intend to progress into a big shot in the world of business, you need to always be conscious of every thing you do with money that involves your business. Starting up a business is a very risky thing so you will want to keep the initial investment as minimal as possible, just in case it doesn’t work out. First thing first, when starting up a business, try and separate your personal account from the account you plan to use for business transactions, or better still, if you don’t have one, open a new one and put your capital in there. Now make sure any time you need to do something involving cash for your business, you withdraw from the business account. Keep an eye on that account and make sure the money going out isn’t ALWAYS more than what goes back in. Before you inject more cash into your business, You need to ensure that there is a consistent demand for your service. It Won’t always be easy; You may start off red hot, making lots of initial profit, but as you continue and acquire new tools that should make work easier for...

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Health Insurance, Fraud And Prevention Measures

Health Insurance is a type of cover that takes care of the medical or surgical expenses incurred by an insured individual. Recently in America, President Barack Obama made it mandatory for everyone to have health insurance. In the UK and Canada, health insurance is seen as a human right, just like education. Depending on ones preference, the insured person could chose to pay for all the expenses incurred and later get reimbursed buy the insurance company. Or the insurance company could also make payment for expenses incurred directly to the health care provider. Two Main Categories Of Health Insurance 1. Private Health Insurance: This is when the individual chooses to use a private hospital as he’s or her care provider. It’s been said in the past that America is heavily reliant on this form of health insurance. 2. Public Health Insurance: This is when the state is the health care provider, but premiums must be collected. Although the NHS (National Health Service) in the UK provides free health care, but this is not a type of health insurance. Health Insurance Fraud Health insurance fraud happen without the patient even knowing, in the form of doctors who overcharge the insurance company for procedures, order unnecessary tests for the patient and then billing the insurance company or just billing the company for procedures and tests that never happened. How Insurance Fraud...

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What Is Insurance Fraud And How Are They Unraveled By Insurance Companies?

Insurance fraud is making false claims to an insurance company in order to get compensated. This is a deliberate attempt to defraud an insurance provider. Insurance fraud isn’t new, in fact it has been around since the beginning if insurance and has kept spreading and new ways to defraud the insurance companies are invented every day. In fact it would interest you to know that in Europe and America, billion of Euros are lost every year to fraudulent claims which make a significant portion of all claims received by insurers. Types Of Insurance Fraud There are Three main categories of Insurance fraud, based on the different false claims people make. 1. Claim Exaggeration: This is for example, when someone with a home insurance claims he may have sustain damage, but then increases the amount of damage when reporting it to the insurance company and even going as far as including damages that may have been there years ago. 2. False Claims: This is when someone makes a claim for damage that never even happened, or claims something that was never owned, has been stolen. 3. Staged Claims: This is the most common type of insurance fraud, and many people have been sent to jail for this one. This happens when accidents (Mostly car accident or home fire) are staged by owners to get compensated by the insurance companies. How...

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