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Canadian Insurance Brokers Inc.

Insurance, Canada, Ontario, Toronto

Canadian Insurance Brokers Inc. offers comprehensive insurance solutions for businesses and individuals, specializing in risk management and personalized service.

About Canadian Insurance Brokers Inc.

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Basics

Type
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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
Canada, Ontario, Toronto
Official Website
http://www.cibi.ca
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FAQs – Canadian Insurance Brokers Inc.

How does reinsurance impact an insurer’s financial strength?

Reinsurance enhances an insurer’s financial strength by providing additional capital support, reducing claim payout burdens, and stabilizing earnings. It helps insurers comply with solvency regulations, maintain credit ratings, and expand their business by taking on more policyholders with less risk.


How is the insurance premium calculated?

Premiums depend on factors such as cargo value, type of goods, shipping route, mode of transport, packaging quality, risk exposure, and claim history of the insured party.


Who is eligible for Medicare?

Medicare eligibility is based on age (65+), disability status, or diagnosis of specific conditions like End-Stage Renal Disease (ESRD) or ALS.


How do reinsurers determine pricing for reinsurance contracts?

Reinsurers consider factors such as the type of risks being transferred, historical loss experience, market conditions, catastrophe modeling, underwriting profitability, and capital costs when pricing reinsurance contracts. Premium rates may also vary based on economic conditions and global reinsurance supply and demand.


What factors affect an insurer’s claim settlement ratio?

Several factors affect CSR, including claim verification processes, fraud detection measures, policy exclusions, customer documentation, and the insurer’s financial stability.


What role does a TPA play in health insurance?

In health insurance, TPAs process medical claims, verify eligibility, coordinate with hospitals, and ensure policyholders receive benefits as per their insurance coverage.


Will my deductible change every year?

Your deductible may change from year to year, depending on your insurer’s policies, inflation adjustments, or changes in your personal insurance plan.


Can I get earthquake insurance after an earthquake has occurred?

No, insurers typically impose a waiting period after an earthquake before allowing new policies, so it is important to purchase coverage in advance.


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