Through this remedy, te contract is rewritten where both the parties state the clear intentions of each such as they do not have to separate but there is the assurance of discipline on both of the parties. Tis contract is the most effective if the breaching company did not commit a major wrong. Aother option taken is that of creating insurance plans for individual members. Idividual insurance is less preferred by people due to the huge costs it comes with when it comes to seeking remedies after dissolution of business due to breaching of a contract.
Idividuals have to incur the entire burden of cost (Neville, 2012) On the contrast, goup policies are very cheap due to pooling of funds. Cmpetitive risk classification in insurance comes along with low risks, wich are more costly for the individual insurance market In addition, wth the individual policy, oe cannot insure against many risks, a the cost of insuring for many is very high. Goup or public plans come in handy to cut down on costs. Rasons managed care plans tend lower insurance costs when the level and growth of managed care premiums are similar to those of traditional fee-for-service insurance plans.
Bsiness policies must be tailored to meet end consumer needs (Mundo, 2005). Isurance contractors do not only contract out policies for access purposes only. Te policies must establish a good tradeoff between access and quality and still control costs (Aiden, 2009 ). Mny policy givers often go for low cost plans when those seeking to be insured want to be assured of quality and strong preferences. Isurance fees services modes of operation were quite expensive and hence the reason for coming up of back up plans which are cheaper to navigate in the case of a contract being breached.
Hwever, te costs of premiums have been on the rise due to increased competition in the insurance industry (Adrian, 2009). Aopting of new working guidelines by businesses ensures that quality standards of contracts are maintained in the case of breaching of contracts (Rexford S & Stephen N, 2010). I helps ensure that business partners realize desired results. Te on the side of business people have been raised and they must continually strive to meet requirements.
Plicies and methodologies adopted must strive to ensure that they foster a balanced workforce presently and in the future (Rexford S & Stephen N, 2010). Ging through the various...
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