Can AI replace human intelligence completely?

No, AI lacks human creativity, emotions, and moral reasoning. While it can process and analyze data quickly, it cannot replicate human intuition, ethical decision-making, or emotional intelligence. AI is a tool that enhances human capabilities rather than completely replacing human intelligence.

Can an insurer have multiple treaty reinsurance agreements?

Yes, insurers often enter multiple treaties with different reinsurers to diversify risk, cover various lines of business, and ensure broader protection against different types of claims.

What happens if someone gets hurt on my property and sues me?

If someone is injured and sues you, homeowners liability insurance can cover medical costs, legal fees, and any settlements, up to the policy limit.

Is there a minimum Surrender Value in insurance policies?

Most insurance policies have a minimum surrender value, especially after the policyholder has paid premiums for a certain number of years. If the policy is surrendered before this time, the surrender value could be very low or zero.

What is a scheduled personal property endorsement?

A scheduled personal property endorsement allows policyholders to insure specific valuable items separately with higher limits and broader protection than what a standard policy offers.

How does blockchain technology enhance big data in insurance?

Blockchain provides secure, transparent data storage that reduces fraud, speeds up claims processing, and improves contract management.

Does subrogation apply to all types of insurance?

Subrogation can apply to various types of insurance, including auto, property, health, and liability insurance. However, it is more commonly seen in auto insurance claims and property damage claims where another party is at fault for the loss or damage.

Does trip cancellation insurance cover medical conditions?

Yes, trip cancellation insurance can cover cancellations due to a medical condition, but it usually applies to unexpected illness or injury, not pre-existing conditions. Some policies offer an option to cover pre-existing conditions for an additional fee.