Comprehensive Market Research
Get in-depth market research for Insurance companies in United States, Illinois, Chicago. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.
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In some cases, policyholders can transfer cash value to a new policy through a 1035 exchange, a tax-free transfer of life insurance funds. However, new policies may have different costs and surrender charges, so careful evaluation is necessary before making a switch.
Risk-based capital (RBC) is a regulatory framework that requires insurers to hold capital proportional to their risk exposure, ensuring financial stability and reducing the likelihood of insolvency.
Yes, policies often include business interruption coverage to compensate for lost revenue caused by system outages from ransomware attacks.
In many states where UM coverage is optional, you can reject it in writing. However, rejecting it means you won’t have protection if hit by an uninsured driver, leaving you responsible for damages. It’s generally recommended to keep the coverage.
While base rates are set by insurers, policyholders can lower premiums by bundling policies, increasing deductibles, improving credit scores, maintaining a good driving record, or qualifying for discounts.
The insurer reviews the facts of the case, the terms of the policy, the cause of loss, and any supporting documentation to determine whether a claim is valid.
Usage-based insurance (UBI) is a type of auto insurance that calculates premiums based on actual driving behavior. It uses telematics technology to monitor factors such as mileage, speed, braking patterns, and time of day to determine personalized insurance rates.
Deductibles help reduce the number of small claims, lower overall insurance costs, and encourage policyholders to take reasonable precautions to avoid frequent claims.
Get in-depth market research for Insurance companies in United States, Illinois, Chicago. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.