What is the difference between a named-peril and an all-risk policy?

A named-peril policy only covers risks explicitly listed in the contract, such as fire, theft, or vandalism. An all-risk policy, also known as an open-peril policy, covers all risks except those specifically excluded. All-risk policies typically offer broader protection but may cost more in premiums.

Can small businesses use captive insurance?

While captives are generally used by larger organizations, small businesses with significant risk exposure and enough capital may form group captives or rent-a-captives to access similar benefits.

How is AI used in self-driving cars?

AI powers autonomous vehicles by processing sensor data, recognizing objects, making real-time decisions, and improving road safety through automation.

Are there exclusions in livestock insurance?

Yes, common exclusions include pre-existing diseases, intentional harm, neglect, unreported illnesses, and losses due to war or nuclear risks. Some insurers may not cover losses from illegal activities or poor animal husbandry practices.

What happens if an uninsured driver damages my car?

If you have uninsured motorist property damage (UMPD) coverage, your insurer may pay for repairs. Otherwise, you may need to use collision coverage or pay out of pocket.

How does the surrender value of ULIPs work?

ULIPs have a surrender value based on fund performance, but surrendering before the 5-year lock-in attracts high charges.

What happens if I remove an endorsement?

Removing an endorsement eliminates the additional coverage it provided. This may lower your premium, but you’ll also lose the protection it offered. It’s essential to evaluate the risks before deciding to remove an endorsement.

Can blockchain be used for voting systems?

Yes, blockchain can enhance electoral transparency, prevent fraud, enable secure online voting, and ensure accurate vote counting through tamper-resistant decentralized ledgers.