What happens if my baggage is lost in a hotel or taxi?

If your baggage is lost due to theft in a hotel or taxi, file a police report immediately and notify hotel management or the taxi company. Travel insurance may cover theft in such cases, provided there is proof of loss and a report from relevant authorities. Coverage may have limits and exclusions.

---

Can I extend my term insurance after the term expires?

Some term insurance policies offer a renewal option that allows you to extend coverage after the initial term, though premiums may increase. It’s important to check the renewal terms with your insurer.

---

How do exclusions impact liability insurance?

Liability insurance exclusions may include intentional harm, contractual obligations, professional malpractice, and illegal activities, requiring businesses to seek specialized coverage for such risks.

---

What are the benefits of reinsurance for insurers?

Reinsurance helps insurers stabilize their financials, reduce volatility, increase underwriting capacity, and comply with regulatory capital requirements. By transferring risk, insurers can protect themselves against catastrophic losses, improve solvency ratios, and maintain customer confidence while expanding their business operations sustainably.

---

What is the difference between indemnity and compensation?

Indemnity refers to restoring the insured to their previous financial state without profit, while compensation may include additional payments beyond the actual loss, depending on the insurance policy terms.

---

Can I buy short-term disability insurance on my own?

Yes, individuals can purchase private short-term disability insurance if their employer does not provide coverage or if they are self-employed.

---

What is not covered by private health insurance?

Exclusions vary by plan, but common exclusions include cosmetic procedures, alternative treatments, fertility treatments, pre-existing conditions (in some cases), and experimental treatments. Reviewing policy documents is essential to understand the specific exclusions of your plan.

---

What is professional liability insurance?

Also known as errors and omissions (E&O) insurance, it protects professionals against claims of negligence, mistakes, or failure to deliver services as promised, often required in law, medicine, and consulting.

---