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Assekuranz Union

Insurance, Germany, Berlin

Providing comprehensive insurance solutions for individuals and businesses, with a focus on personalized service and risk management expertise.

About Assekuranz Union

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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
Germany
Official Website
http://www.assekuranz-union.com
Location Address Official Phone Email
Germany Germany, Berlin **** ****
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FAQs – Assekuranz Union

How does credit score impact underwriting?

Credit scores are used in auto and homeowners insurance underwriting to predict the likelihood of claims. A lower credit score can indicate a higher risk of filing claims, leading to higher premiums. Insurers use credit-based insurance scores, which differ slightly from traditional credit scores.


How much does renters insurance cost?

Renters insurance is generally affordable, costing between $15 to $30 per month, depending on the level of coverage, location, deductible, and whether additional riders are included.


Why is RBC important for financial stability?

RBC ensures that insurers have sufficient capital to absorb losses and remain solvent during adverse financial conditions, helping protect policyholders and maintain market confidence.


Can I opt out of guaranty fund protection?

No, policyholders cannot opt out of guaranty fund protection. It is a built-in safeguard regulated by law, ensuring consumer protection regardless of the insurer chosen. This ensures fairness and financial stability in the insurance market.


Why are some insurers pulling out of high-risk areas?

In regions with frequent wildfires, hurricanes, or flooding, insurers may find claim costs unsustainable, leading them to withdraw from these areas, limit coverage, or impose stricter underwriting criteria.


What are the primary steps in the risk management process?

The primary steps include risk identification, risk assessment, risk control, risk financing, and ongoing monitoring to ensure that potential risks are managed effectively.


Do I have to pay taxes on short-term disability benefits?

It depends on how your policy is funded. If your employer pays the premiums, benefits are typically taxable. If you pay with post-tax dollars, benefits are tax-free. Partial taxation may apply if both you and your employer contribute to the premium.


How can drivers maximize savings with UBI?

Drivers can reduce premiums by maintaining steady speeds, avoiding harsh braking and acceleration, limiting late-night driving, following traffic laws, and monitoring telematics feedback to improve driving habits.


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