A per diem can include part or all of the expenses incurred, for example it may exclude accommodation (for which reimbursement may be available on presentation of receipts) and only cover meals.Per diem is also used as an adjective and an adverb.April 2007). Per diem (Latin for per day or for each day) is a daily allowance for expensesâa specific amount of money an organization gives an individual, often an employee, per day to cover living expenses when traveling for work.
PPI usually only covers the loan or credit repayments for a limited period of time, typically twelve months. Many policies pay out in blocks of 30 days. This means that if you returned to work after 28 days, you wouldnât get a payment. There is usually a 30-day delay before you can make a claim.
While there are many tax and fee changes, all of which impact the economy, of direct interest to consumers is the increase of 2% on the HST. Insurance policies are not subject to HST, but the cost of claims paid are subject to HST by suppliers. (ie costs to repair cars, fix damage to homes etc;). This may increase the amount paid to settle claims. Insurance premiums are a reflection of the cost of claims. The increase on the HST will increase the cost of many insurance claims by 2%. (Businesses registered for HST may be able to claim the HST on claims as an input tax credit.) This may impact insurance premiums down the road since insurance premiums are driven by claims costs.