What are intellectual property rights?

Intellectual property rights (IPR) protect creations of the mind, such as inventions, trademarks, copyrights, and patents. These rights give creators exclusive control over their work for a certain period, preventing unauthorized use.

Is indemnity insurance mandatory?

Some industries require indemnity insurance, such as medical, legal, and financial sectors, to protect professionals from liability arising from their services.

Can small businesses afford cyber insurance?

Yes, cyber insurance is available for small businesses, and coverage can be tailored to fit their budget. The cost depends on business size, industry, and risk level. Given the increasing number of cyberattacks targeting small businesses, investing in cyber insurance can be a crucial step in protecting financial stability.

What types of private health insurance plans are available?

Common types include individual plans, family plans, group (employer-sponsored) plans, and specialized policies covering critical illnesses, dental, vision, maternity, and international healthcare coverage for travelers or expatriates.

How does a claims-made policy affect the limit of liability?

In a claims-made policy, the liability limit applies based on when a claim is reported, not when the incident occurred, potentially affecting coverage if limits change over time.

What is a deductible in an insurance claim?

A deductible is the amount the policyholder must pay out of pocket before the insurer covers the remaining loss. For example, if you have a $500 deductible and your claim is $2,000, the insurer pays $1,500 after you pay the deductible. Higher deductibles typically result in lower premiums.

What is the purpose of reinsurance for insurance companies?

Reinsurance helps insurance companies mitigate risk, increase their capacity to write more policies, stabilize financial results, and protect against large-scale losses by transferring part of the risk to another insurer.

How long does marine cargo insurance coverage last?

Coverage typically begins when goods leave the warehouse and ends upon delivery to the final destination, subject to policy terms.