How does travel insurance work?

Travel insurance covers unexpected travel-related issues like trip cancellations, medical emergencies, lost luggage, and flight delays. Policies vary but can reimburse prepaid expenses if a trip is canceled due to covered reasons, provide medical evacuation services, or compensate for personal belongings lost or stolen during travel.

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Can I refuse subrogation by my insurance company?

In most cases, policyholders cannot refuse subrogation because insurance contracts typically include subrogation clauses. However, some situations allow negotiation, such as in uninsured motorist claims.

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Can I use emergency evacuation coverage for a family member?

Yes, most travel insurance policies that include emergency evacuation will cover the policyholder's family members if they are traveling with you and experience a medical emergency.

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What are the costs associated with Variable Life Insurance?

Costs include premium charges, fund management fees, administrative costs, mortality charges, and possible surrender fees. Investment-related fees vary by fund selection and can affect cash value accumulation over time.

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What happens when a life insurance policy lapses?

When a life insurance policy lapses, the coverage terminates, and beneficiaries lose the death benefit unless the policyholder reinstates the policy within the insurer’s allowed reinstatement period.

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What does 'fraud detection' mean in insurance regulation?

Fraud detection in insurance regulation refers to measures and systems set in place to identify, investigate, and prevent fraudulent claims or activities within the insurance process.

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How do insurance companies rank by brand value?

Brandirectory's 2024 report indicates that France's AXA has risen into the top three most valuable insurance brands, surpassing China Life Insurance after a 20% increase in its brand value.

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How does ransomware coverage work under cyber insurance?

It covers ransom payments, forensic investigations, legal fees, lost revenue, and costs related to decrypting and restoring affected systems following a ransomware attack.

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