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Core Assurance Partners

Insurance, United States, Illinois, Chicago

Core Assurance Partners is a leading insurance and risk management firm, providing tailored solutions for businesses across various industries with a focus on client satisfaction.

About Core Assurance Partners

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Basics

Type
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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, Illinois state
Official Website
http://www.coreassurance.com
Location Address Official Phone Email
United States of America, Illinois state 123 Main Street, Suite 100 **** ****
LinkedIn https://linkedin.com/company/**** Get In Touch With Decision Makers
Facebook https://facebook.com/**** Get In Touch With Decision Makers
Instagram https://instagram.com/**** Get In Touch With Decision Makers
X (Twitter) https://x.com/**** Get In Touch With Decision Makers
YouTube https://youtube.com/**** Get In Touch With Decision Makers

FAQs – Core Assurance Partners

Can I transfer my cash value to another policy?

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.


What is risk-based capital in insurance?

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.


Does cyber insurance cover financial losses from business downtime due to ransomware?

Yes, policies often include business interruption coverage to compensate for lost revenue caused by system outages from ransomware attacks.


Can I reject uninsured motorist coverage?

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.


Can I negotiate my insurance premium?

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.


How does an insurance company decide if a claim is valid?

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.


What is usage-based insurance (UBI)?

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.


Why do insurance policies have deductibles?

Deductibles help reduce the number of small claims, lower overall insurance costs, and encourage policyholders to take reasonable precautions to avoid frequent claims.


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