Business

Case Barnett Law Offers Essential Advice to Keep You Safe — Before and After an Accident

Published

2 years ago

March 17, 2022

When you are involved in an automobile accident, it can be difficult to know what to do – or where to turn for help. At Orange County-based Case Barnett Law, their legal team is committed to helping clients understand their rights and responsibilities, before and after an accident occurs.

Whether you have recently experienced a collision or want to ensure you are always protected, there are several essential strategies to keep yourself – and your finances – safe.

Before an Accident

Although no one expects to be in a car accident, everyone should be prepared. As Director of Operations Nicole Barnett explains, one of the best ways to protect yourself is with proper insurance coverage.

In California, motorists are legally required to carry a “15/30” insurance policy, which pays up to $15,000 of bodily liability damages per person and a maximum total payout of $30,000. Unfortunately, most auto accidents dramatically exceed those insurance payouts.

“If you have any type of accident, even a small accident, $15,000 is not going to be enough,” Barnett explains. “The damages are going to be so much higher than that.”

Unfortunately, with a 15/30 policy, insurance companies will pay the maximum of $15,000 per individual and then you are on your own. For someone involved in a major accident, especially an accident leading to physical injuries, this can be financially ruinous.

But with uninsured/underinsured motorist coverage (UIM), you remain protected even if the other driver is not fully insured.

“Their insurance company will pay 15,000, and then you would go to your insurance company, and they will hopefully provide the remaining amount,” Barnett says. “It is really cheap to add to your existing insurance policy, under $20 to add, and a lot of people don’t know about it.”

In addition to being covered for material damages, it is critical to carry the right amount of medical coverage. They recommend “Med Pay” or Medical Payments Coverage, which will protect you in the event of injuries or hospitalization.

“It is something important that people have in their insurance,” Case Barnett explains. “It is typically up to $5,000 regardless of who is at fault.”

Staying protected as a motorist is an important preventative measure, Barnett says. But what happens after an accident?

After an Accident

Being involved in an automobile accident can be disorienting, but it is essential to remember a few key steps, Barnett says.

The first step is to contact the police and talk with any witnesses. This will protect you especially if you are not at fault in the accident. Case Barnett recalls many situations in which information from a bystander helped determine liability.

“Unfortunately, people can be unscrupulous,” Barnett says. “We had a case where a driver ran a red light and lied about it. Luckily, there was someone else sitting in traffic who had a dashcam, and you could see the other driver run the red light.”

Calling the police further protects you because it provides you with an official report of what took place. When it comes time to file an insurance claim or sue for damages, formal evidence is everything.

In the event you have suffered injuries, you should seek medical treatment right away, Barnett says. This will not only help you recover physically but also will provide additional evidence for your insurance claim.

“You should go to urgent care first, and then start treatment with a chiropractor or physical therapist as soon as possible after that,” Barrnett says. “You want to have continuity of treatment – any gaps in treatment, the insurance company will say you weren’t hurt that badly or your injuries were from something else.”

Seeking Legal Help

Although many accidents can be resolved simply through your insurance company, there may be times when legal assistance is needed. Legal representation will give you the assurance and protection you need – and more than that, it will allow your voice to be heard.

“We look for three things, damages, liability, and collectability,” Barnett says. “With damages, we ask how bad is the person hurt, and what is the damage to the vehicle? Insurance companies will equate the amount of damage to the vehicle to the amount of force on the occupants of the vehicle. Liability is who is at fault. Collectability is the insurance issue – which is why having a police report and witnesses is so important.”

Case and Nicole Barnett understand how stressful and difficult it can be to recover from an automobile accident. You may have physical injuries, expensive repair costs for your car, and you may need to miss work. All of these factors can hurt you physically, emotionally, and financially.

But you don’t have to go through it alone.

They have prepared a free guide to protecting your wealth in an accident, available on the Case Barnett Law website. And if you still have questions, they are only a phone call away.

“If you have those three things in place, damages, liability, and collectability, you should absolutely call an attorney,” Nicole Barnett explains. “And even if one of those areas is weak, you can still call.”

Case Barnett Law is based in Laguna Beach, CA, and helps individuals and families who have suffered catastrophic accidents. For more information and to download their free legal report, visit www.casebarnettlaw.com.

Business

Opportunities for Black Banx in Emerging Markets

Published

9 hours ago

May 5, 2024

Matthew Wiles

A significant digital transformation is underway in the world of finance, marked by the emergence of non-bank innovators offering a diverse array of financial technology products and services. This transformation is not confined to established markets; rather, it extends its reach into emerging economies, offering a compelling digital alternative to traditional banking institutions. These alternatives are particularly vital in addressing the issue of financial exclusion, which has left substantial populations underserved by traditional banking systems.

Among these innovative digital banking entities stands Black Banx, a fintech brand dedicated to fostering financial inclusion in emerging markets by seamlessly integrating banking services into digital ecosystems. Founded in 2014 as a visionary concept by German billionaire Michael Gastauer, Black Banx swiftly evolved into a global force in the global financial market Officially launched in 2015, the institution rapidly garnered international recognition, extending its services to 180 countries and territories from its inception. Within a mere 12 months of operation, Black Banx amassed over 1 million customers, marking its initial expansions in key regions such as the United States, United Kingdom, and Hong Kong. At present, with a customer base exceeding 40 million as of February 2024, Black Banx stands as one of the fastest-growing digital banks not only in developed countries but also in emerging markets.

What Are Emerging Markets?

An emerging market mostly describes the economic landscape of a developing nation progressively engaging with global markets during its growth trajectory. These economies possess some but not all of the defining characteristics of developed markets, which typically exhibit robust economic growth, high per capita income, well-established equity and debt markets, foreign investor accessibility, and a reliable regulatory framework, according to Investopedia.

As emerging market economies evolve, they tend to integrate more deeply into the global economy. This integration fosters increased liquidity within local debt and equity markets, heightened trade volume, and augmented foreign direct investment. Moreover, these economies witness the emergence of modern financial and regulatory institutions as they transition from low-income, less developed, often pre-industrial states to modern industrial economies with elevated standards of living.

With improving standards of living, the demand for financial security and opportunities escalates, underscoring the pivotal role of banking services. However, traditional banks face challenges stemming from bureaucratic processes and sometimes limited services. Conversely, fintech firms are gaining prominence owing to their convenience, user-friendly interfaces, and expedited signup procedures. Furthermore, their accessibility anytime and anywhere with internet connectivity enhances their appeal to the public.

Strong Demand for Financial Technology

The surge in digital banking adoption, particularly conspicuous in emerging markets, owes much to innovations originating in these regions. For instance, nearly nine out of ten consumers in the Asia-Pacific region, encompassing both emerging and developed markets, actively utilize digital banking services, with a significant portion expressing openness to expanding their usage through digital channels.

Enthusiastic adoption of fintech tools and e-wallets among consumers in emerging markets has propelled the market penetration of these innovative solutions beyond levels observed in developed markets. In the emerging Asia-Pacific region, the penetration of fintech apps and e-wallets surged to 54 percent in 2021, compared to 43 percent in the developed segment. This is indicative of the accelerating shift towards fintech transactions and services, as per McKinsey & Company.

A portmanteau of finance and technology, fintech refers to the burgeoning industry of companies utilizing computer programs and other technologies to provide support or enable banking and other financial services. In developed nations, there’s been a rapid expansion and adoption of fintech technologies ever since businesses and even governments started accepting digital financial transactions as a standard mode of payment. But even in emerging markets, the demand for fintech has also skyrocketed as more people report a diminishing reliance on cash for weekly expenditures.

Identifying Opportunities in Emerging Markets

Launching a successful digital bank entails navigating a myriad of challenges, irrespective of the market’s maturity. However, digital banking in emerging markets presents its own unique set of hurdles, particularly in securing widespread adoption among mass-market consumers. To thrive in any market landscape, a digital bank must first establish meaningful access to its target customers. While the initial interaction may appear straightforward in the digital realm, the reality proves more nuanced.

The proliferation of digital advertising notwithstanding, capturing customer attention remains a formidable task, compounded by the intricacies of onboarding procedures, even for digitally savvy clients. Moreover, the reliance on app downloads as a precursor to engagement further heightens the barriers to entry as first-time users may find them intimidating.

Building a solid trust relationship with customers is important for digital banks to maximize their opportunities in emerging markets. Trust, arguably the linchpin of sustained usage, demands meticulous investment in creating positive onboarding experiences and fostering comprehension of banking channels and products. However, achieving this trust quotient is not easy, especially in emerging markets with lower access to financial services and digital literacy.

Black Banx’s Success in Emerging Markets

Black Banx is a digital bank focused on empowering financial inclusion in emerging markets by integrating banking into digital ecosystems. It was founded by German billionaire Michael Gastauer who always believed that well-designed financial services have the potential to uplift even the most marginalized segments of society, providing them with enhanced economic opportunities.

Consequently, Black Banx is steadfast in its mission to promote financial inclusion while harnessing the advancements within the fintech landscape. Today’s digital technologies offer unprecedented tools to reconstruct banking paradigms, especially for those underserved by traditional financial institutions, with smartphones and laptops serving as gateways to financial empowerment. But while Black Banx makes use of the most advanced fintech technologies, including blockchain and artificial intelligence, it delivers an intuitive and easy-to-navigate user experience through its website and mobile app so even the inexperienced or less tech-savvy consumers won’t have a hard time using its platform to carry out financial transactions.

With his expertise and decades of experience in the financial industry, Gastauer has a keen eye for trends and what works in different markets. So instead of delivering different experiences for developed and emerging markets, the renowned fintech mogul opted to roll out the same suite of services to both because of his motivation to realize financial inclusion and offer only the best banking experience to all. As such, Black Banx facilitates seamless transitions between physical and digital currencies and even cryptocurrencies. The digital bank also tailors its channels to accommodate customers at various stages of their digital journey, ensuring that they feel guided every step of the way until they achieve their financial goals. All of these contribute to Black Banx’s success in emerging markets.