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Treaty reinsurance is a contract between a ceding insurer and a reinsurer where the reinsurer agrees to cover a specific portfolio of risks over a set period. Unlike facultative reinsurance, it does not require individual risk underwriting, making it efficient for insurers.
Yes, most homeowners insurance policies include personal liability coverage. This covers legal and medical costs if someone is injured on your property or if you or your family members cause damage to someone else's property. It may also cover legal fees if you are sued. Liability coverage is an important aspect of protecting your assets and financial wellbeing in case of accidents.
If premiums are missed, the policy enters a grace period, and if unpaid, it lapses, terminating coverage unless reinstated within a specified timeframe.
Common businesses needing E&S coverage include general contractors, nightclubs, entertainment venues, special event organizers, medical marijuana dispensaries, coastal property owners, and high-value homeowners. These industries face elevated risks or regulatory complexities.
Predictive analytics uses historical data, AI, and statistical models to forecast claims probability, customer behavior, and future risks, improving decision-making for insurers.
Subrogation allows an insurer to recover costs from a third party, while indemnification ensures a party is compensated for losses without necessarily shifting liability. Subrogation involves legal action, whereas indemnification is often contractual.
Some policies include non-medical evacuations for political unrest, natural disasters, or security threats. This coverage helps travelers leave dangerous areas quickly and safely if an emergency situation arises.
Regulatory bodies require insurers to maintain sufficient reinsurance arrangements to ensure financial stability and compliance with capital adequacy requirements.
Get in-depth market research for Insurance companies in Germany, Bavaria, Munich. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.