What are capital requirements in insurance?

Capital requirements in insurance refer to the minimum amount of capital an insurer must hold to cover its liabilities, meet regulatory requirements, and maintain solvency. These requirements help protect policyholders from the risk of the insurer becoming insolvent due to insufficient reserves.

How does cyber insurance help after a ransomware attack?

It may cover ransom payments, forensic investigations, system restoration, legal costs, and public relations expenses to rebuild reputation and prevent future attacks.

Does homeowners insurance cover theft outside the home?

Yes, most policies extend coverage to stolen personal belongings even when they are outside your home, such as in your car, at a hotel, or in storage. However, coverage limits may apply, so checking your policy terms and considering additional coverage for high-value items is recommended.

Can a policyholder transfer ownership of an insurance policy?

Yes, in some cases, a policyholder can transfer ownership to another person or entity through an assignment process. This is common in business-owned life insurance policies or when policies are used as collateral for loans.

What is an insurance claim?

An insurance claim is a formal request made by a policyholder to an insurance company for payment or coverage of a covered loss, damage, or medical expense.

How does blockchain impact intellectual property rights?

Blockchain helps protect intellectual property by timestamping creations, proving ownership, and ensuring transparent royalty payments. Artists, musicians, and content creators use blockchain-based NFTs (non-fungible tokens) and digital rights management to prevent piracy and monetize their work effectively.

Does a higher deductible lower my insurance premium?

Yes, choosing a higher deductible typically lowers your premium because you agree to pay more out-of-pocket before the insurer covers the rest, reducing the company's financial risk.

What is earthquake homeowners insurance?

Earthquake homeowners insurance provides coverage for damages caused by earthquakes, typically covering the structure of the home, personal property, and living expenses during repairs.