Can subrogation rights be transferred to another party?

Yes, subrogation rights can be assigned or transferred in certain cases. For example, insurers may assign subrogation claims to collection agencies or legal firms for enforcement. Additionally, policyholders who pay out-of-pocket for losses may retain subrogation rights against responsible parties.

How does a homeowners insurance deductible work?

Homeowners insurance deductibles apply to property damage claims. The policyholder must cover the deductible amount before the insurer pays for repairs or replacements.

How does blockchain impact supply chain management?

Blockchain improves supply chain tracking by providing real-time, transparent, and verifiable records of product movement and authenticity.

Can adverse selection be eliminated completely?

No, but insurers can minimize it through underwriting, pricing adjustments, mandatory participation (such as employer-sponsored health plans), and incentives that encourage low-risk individuals to maintain coverage.

Does travel medical insurance cover pre-existing conditions?

Some travel insurance policies cover pre-existing conditions under certain circumstances, such as if the condition is stable before travel. Policies vary, so it’s crucial to verify with your provider. Some insurers offer specific coverage for pre-existing conditions if you meet the eligibility criteria.

What happens if I stop making payments on my Universal Life Insurance policy?

If you stop making payments, your policy remains in force as long as there is enough cash value to cover the cost of insurance and fees. If the cash value is depleted, the policy may lapse, and you will lose coverage unless you make additional payments to keep it active.

What is an insurer?

An insurer is a company that provides financial protection to individuals or businesses against specified risks. In exchange for premiums, the insurer agrees to compensate policyholders for covered losses under the terms of an insurance policy.

What is earthquake insurance and how does it work?

Earthquake insurance provides financial protection for structural damage, personal belongings, and temporary living expenses after an earthquake, as standard policies usually exclude seismic damage.