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Global Insurance Solutions Inc.

Insurance, Canada, Ontario, Toronto

Global Insurance Solutions Inc. provides innovative insurance solutions for businesses worldwide, specializing in risk management and employee benefits to protect your assets and employees.

About Global Insurance Solutions Inc.

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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.gisi.ca
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FAQs – Global Insurance Solutions Inc.

Are defense costs included in the limit of liability?

This depends on whether the policy includes defense costs within the limit or offers defense outside the limits. If included, legal fees and settlements count toward the limit, potentially reducing the available coverage for indemnity. If outside the limit, the insurer covers legal costs separately from the claim amount.


How is ACV different from Replacement Cost Value (RCV)?

ACV accounts for depreciation and pays the current market value of the item, whereas RCV covers the full cost of replacing the item with a new one of similar kind and quality.


How does the NAIC regulate reinsurance?

The NAIC sets guidelines for reinsurance agreements, including risk-transfer standards, solvency rules, and collateral requirements.


How does business interruption coverage work in ransomware cases?

If a ransomware attack disrupts operations, cyber insurance compensates for lost revenue, extra expenses, and operational downtime until normal business functions resume. Policy limits and waiting periods apply.


Can I change my primary care physician (PCP) in an HMO?

Yes, most HMO plans allow members to change their PCP, but they may require notification or paperwork to ensure proper coordination of care.


What happens if my policy’s replacement cost is too low?

You may have to cover the difference out-of-pocket to fully rebuild or replace lost property.


Does a higher CSR mean faster claim processing?

Not necessarily. A high CSR only reflects successful settlements, not the speed of processing. Some insurers may have high CSRs but take a long time to settle claims due to complex verification procedures.


What are the key features of a TPA-managed health insurance policy?

Features include a wide network of hospitals, seamless claims processing, cashless claim facilities, quicker claim settlements, and 24/7 customer support for assistance in emergency situations.


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