How does crop insurance work?

Farmers purchase a policy that covers specific risks. If their crops suffer losses due to insured events (e.g., drought, flood, pests), they file a claim with evidence of damage. After assessment, the insurer compensates the farmer based on policy terms.

Do undocumented immigrants qualify for Medicaid?

Undocumented immigrants generally do not qualify for Medicaid. However, some states provide emergency Medicaid for life-threatening conditions, and pregnant women and children may qualify under certain programs.

Does renters insurance cover all perils?

Renters insurance covers named perils like fire, theft, and vandalism, but excludes others like floods or earthquakes unless additional coverage is purchased.

Are co-pays the same for all medical services?

No, co-pays vary based on the type of service. For example, a visit to a primary care doctor may have a lower co-pay than a specialist visit. Prescription drug co-pays also differ depending on the medication tier in your plan.

How do actuaries maintain their SOA credentials?

Actuaries must complete Continuing Professional Development (CPD) requirements, attend training sessions, and stay updated with new industry developments to maintain their SOA credentials.

Are natural disasters covered under livestock insurance?

Yes, policies often cover natural disasters like floods, droughts, wildfires, and storms, but coverage may vary by insurer.

How do I determine the coverage amount for my business property insurance?

To determine coverage, evaluate the replacement cost of your property, including buildings, equipment, and inventory. You can also factor in loss of income due to damage. It's often helpful to consult with an insurance broker for proper valuation.

Can an insurer subrogate against its own policyholder?

Generally, insurers do not subrogate against their own policyholder unless fraud or contract violations occur. Subrogation is typically pursued against third parties responsible for the loss.