What are the risks of using a non-admitted insurer?

Non-admitted insurers do not have state guarantee fund protection, meaning if the insurer becomes insolvent, policyholders may not be covered. However, reputable E&S insurers are financially strong and carefully selected by surplus lines brokers.

Can Usage-Based Insurance reduce my premium?

Yes, if you drive safely and follow good driving habits, you could qualify for significant discounts on your insurance premium, as UBI directly links premiums to driving behavior.

How does subrogation impact workers’ compensation claims?

In workers’ compensation cases, insurers can subrogate against third parties responsible for an employee’s injury. This helps recover medical and wage benefits paid to the injured worker while preventing double recovery.

Are family members covered under my emergency evacuation insurance?

If you purchase a family travel insurance plan, dependents may also have emergency evacuation coverage. Otherwise, each traveler usually needs their own policy for full protection.

What is the role of an underwriter in insurance?

An underwriter assesses the risk of insuring a person, property, or entity. Based on their evaluation, the underwriter determines whether to accept the policy, how much premium to charge, and any exclusions or conditions to apply.

What happens to my life insurance if it lapses?

If a life insurance policy lapses due to non-payment, the policyholder loses life coverage. In some cases, the insurer may offer a reduced paid-up option or a conversion option, but this depends on the policy and insurer's rules.

What are employment laws, and why are they necessary?

Employment laws regulate workplace rights and obligations, covering wages, working conditions, discrimination, safety, and termination procedures to ensure fair treatment of employees and employers.

What are solvency requirements in international insurance laws?

Solvency requirements ensure insurers maintain sufficient financial reserves to cover claims, preventing insolvency and protecting policyholders.