Can I cancel my pet insurance if I no longer want it?

Yes, most insurers allow you to cancel your pet insurance policy, but be aware of cancellation fees or pro-rata refunds. It's essential to review your contract.

What does third-party insurance cover?

It covers bodily injury, property damage, and legal liabilities arising from an accident caused by the insured. It ensures financial protection against claims from affected third parties.

Can I recover my benefits after my policy has lapsed?

You may recover benefits if the policy is reinstated within the insurer’s allowed period, subject to additional requirements such as medical checkups.

What is the difference between a law and a regulation?

Laws are enacted by legislative bodies (e.g., Congress or Parliament), while regulations are rules created by government agencies to enforce those laws. Laws set the framework, and regulations provide specific instructions for compliance.

What types of indemnity insurance exist?

Types include professional indemnity, public liability, property indemnity, health indemnity, and contractual indemnity insurance, each covering specific risks and liabilities.

What industries need cyber insurance the most?

Industries that handle sensitive data, such as healthcare, finance, retail, e-commerce, and government agencies, are at high risk of cyberattacks. However, any business that relies on digital systems or stores customer data should consider cyber insurance to mitigate financial and reputational damage caused by hacking.

What is private health insurance?

Private health insurance is a policy purchased from a private insurer to cover medical expenses. It provides access to private healthcare services, faster treatment, and additional benefits not covered by public healthcare systems.

Is there a minimum limit of liability required by law?

Some types of insurance, such as auto liability and professional liability in certain professions, have legally mandated minimum limits, which vary by jurisdiction and industry regulations.