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RBC Insurance

Insurance, Canada, Ontario, Toronto

RBC Insurance offers a wide range of insurance products and services, providing peace of mind and financial security to individuals and businesses alike.

About RBC Insurance

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Basics

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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.rbcinsurance.com
Location Address Official Phone Email
Canada, Ontario, Toronto Canada, Ontario, Toronto **** ****
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FAQs – RBC Insurance

Why do insurers cede risks to reinsurers?

Insurers cede risks to reduce exposure to large claims, stabilize financial performance, improve solvency, and optimize capital management. By transferring risk, ceding companies can write more policies and expand their market share without exceeding their capacity limits.


What are technical provisions in solvency calculations?

Technical provisions are financial reserves insurers set aside to cover expected claims and liabilities, ensuring they have adequate funds to meet policyholder obligations under normal and stressed conditions.


What is the claims process for a ransomware attack under cyber insurance?

Businesses must notify their insurer, involve cybersecurity experts, document losses, and follow insurer guidelines before making a ransom payment.


What does homeowners insurance typically cover?

A standard policy usually covers the home’s structure, personal belongings, liability protection, and additional living expenses if the home becomes uninhabitable due to a covered event. Coverage may vary based on policy type and insurer.


What is a premium refund in insurance?

A premium refund occurs when a policyholder overpays, cancels a policy early, or qualifies for a return of unused premiums based on specific policy terms and conditions.


What is the difference between a first-party and third-party claim?

A first-party claim is filed by the policyholder for their own losses, while a third-party claim is made against another party's insurance for damages they caused.


What are the benefits of usage-based insurance?

UBI offers lower premiums for safe drivers, promotes better driving habits, and provides more personalized pricing compared to traditional insurance. It can also help reduce road accidents by encouraging responsible driving behavior.


How does an auto insurance deductible work?

In auto insurance, the deductible applies when making a claim for damages. The insurer pays the remaining cost after the deductible is met, up to policy limits.


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