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First Insurance Funding of Canada

Insurance, Canada, Ontario, Toronto

Innovative premium financing solutions for insurance brokers, combining finance expertise with cutting-edge technology to streamline the payment process.

About First Insurance Funding of Canada

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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.firstinsurancefunding.ca
Location Address Official Phone Email
Canada, Ontario, Toronto Canada, Ontario, Toronto **** ****
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FAQs – First Insurance Funding of Canada

What are some examples of E&S insurance coverage types?

E&S insurance can cover a variety of risks, including professional liability, product liability, excess liability, environmental liability, high-risk property insurance, event cancellation, and coverage for emerging industries like cryptocurrency businesses.


What data is collected under Usage-Based Insurance?

UBI typically collects data like the number of miles driven, speed, time of day, hard braking, acceleration, and cornering habits, depending on the specific insurance program.


Does subrogation apply to health insurance claims?

Yes, health insurers can pursue subrogation when they pay for medical expenses caused by a third party, such as in car accidents or workplace injuries. If the injured party receives a settlement, the insurer may seek reimbursement for medical costs covered under the policy.


How much emergency evacuation coverage do I need?

Coverage amounts vary, but experts recommend at least $100,000 to $250,000 for international travel. Evacuation costs, especially from remote areas, can be extremely high, so sufficient coverage is essential.


What factors do underwriters consider when evaluating risk?

Underwriters consider several factors, such as age, health, occupation, claims history, credit score, property condition, and location, among others. These factors help determine the level of risk and, subsequently, the premium.


What are the main reasons for a policy to lapse?

The most common reasons for a policy lapse include failure to pay premiums on time, forgetting to renew the policy, financial difficulties, or administrative errors. It's important to stay proactive with payment schedules to prevent lapsing.


What is corporate governance, and why does it matter?

Corporate governance refers to the system of rules, policies, and processes that guide corporate decision-making, ensuring accountability, transparency, and ethical business practices to protect stakeholders' interests.


How do international insurance laws vary between countries?

Each country has unique regulations regarding licensing, consumer rights, solvency requirements, tax treatment, and dispute resolution in insurance contracts.


Comprehensive Market Research

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.