Title:
AN INSURANCE PRODUCT
Document Type and Number:
WIPO Patent Application WO2003012572
Kind Code:
A3
Abstract:
An insurance product, a method of insuring an article and an a method of compensating an insured person. The insured article is, in particular, a vehicle, motor bike or boat. An insurance product is provided comprising a policy whereby the insurer undertakes to compensate an insured person for a loss incurred as a result of the actual consideration obtainable by the insured person for an article being less than an agreed minimum consideration, when the insured person disposes of the article. The compensation is for the loss incurred as a result of the diminution in the value of an insured article due to the article having been damaged in an accident, notwithstanding that the article was competently repaired after the accident.
Inventors:
VAN RENSBURG FREDERICK ROELOF (ZA)
Application Number:
PCT/IB2002/002923
Publication Date:
May 27, 2004
Filing Date:
July 26, 2002
Export Citation:
Assignee:
VAN RENSBURG FREDERICK ROELOF (ZA)
International Classes:
G06Q30/00; G06Q40/00; (IPC1-7): G06F17/60
Foreign References:
| US4831526A | 1989-05-16 | |||
| US5682488A | 1997-10-28 | |||
| US5897619A | 1999-04-27 |
Other References:
DATABASE PROQUEST [online] "Filling insurance 'Gap' for drivers who lease", XP002961255
DATABASE PROQUEST [online] THOMAS TOM: "TIL insurance option breeds trouble", XP002961256
HOFSTRAND DON AND WILLIAM EDWARDS: "Crop revenue insurance", UNIVERSITY EXTENSION, January 1999 (1999-01-01), IOWA STATE UNIVERSITY, pages 1 - 4, XP002961254
SCHNEPF RANDY AND HEIFNER RICHARD: "Crop and revenue insurance: bargain rates but still a hard sell", ECONOMIC RESEARCH SERVICE/USDA, August 1999 (1999-08-01), pages 15 - 18, XP002961253
DATABASE PROQUEST [online] THOMAS TOM: "TIL insurance option breeds trouble", XP002961256
HOFSTRAND DON AND WILLIAM EDWARDS: "Crop revenue insurance", UNIVERSITY EXTENSION, January 1999 (1999-01-01), IOWA STATE UNIVERSITY, pages 1 - 4, XP002961254
SCHNEPF RANDY AND HEIFNER RICHARD: "Crop and revenue insurance: bargain rates but still a hard sell", ECONOMIC RESEARCH SERVICE/USDA, August 1999 (1999-08-01), pages 15 - 18, XP002961253
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