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Get in-depth market research for Insurance companies in Canada, Ontario, Toronto. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.
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Filing multiple claims can lead to higher premiums because insurers see you as a higher-risk policyholder. The more claims you file, the more likely your insurer is to increase your rates or even refuse to renew your policy. No-claims bonuses can help keep premiums low.
Yes, rising sea levels and increased flooding risks due to climate change have led to higher premiums and adjustments in flood zone classifications.
Telematics is a system that collects data from a vehicle, such as GPS location, speed, and braking habits, to determine the risk and set premiums in UBI.
Yes, facultative reinsurance is used in life and health insurance, especially for high-value policies, impaired-risk applicants, or specialized medical coverage that requires additional underwriting expertise from the reinsurer.
Basis risk occurs when an event meets the parametric trigger but causes little damage, or when significant damage occurs but the trigger isn’t met.
Countries regulate insurance companies through national regulatory authorities such as the Financial Conduct Authority (UK), National Association of Insurance Commissioners (USA), and Insurance Regulatory and Development Authority (India). These regulators enforce laws on licensing, solvency, consumer rights, and financial reporting, ensuring insurers operate fairly and responsibly.
You can appeal the denial by providing additional medical records, consulting a disability attorney, or requesting a reconsideration from the insurer. Some cases may require legal action.
Telematics devices and apps are generally accurate, but there may be occasional issues with data quality due to GPS inaccuracies, device malfunctions, or network connectivity problems.
Get in-depth market research for Insurance companies in Canada, Ontario, Toronto. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.