Can I file multiple reimbursement claims for different losses?

Yes, policyholders can file multiple claims for separate covered incidents. However, frequent claims may lead to premium increases or policy non-renewal. Insurers evaluate claim history when determining risk, so it's advisable to file claims only for significant losses.

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What happens if a claim is denied?

If a claim is denied, the insurer provides a written explanation. Policyholders can appeal the decision by submitting additional evidence or requesting a formal review through dispute resolution channels.

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Are TPAs regulated by any authority?

Yes, TPAs are regulated by the Insurance Regulatory and Development Authority of India (IRDAI) in India, which sets guidelines for their operations, conduct, and standards.

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What is a no-claims bonus, and how does it affect my premium?

A no-claims bonus (NCB) is a discount on your insurance premium offered for not filing claims over a certain period. The longer you go without filing a claim, the bigger the discount you may receive, helping you lower your overall premium cost.

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What is earthquake insurance?

Earthquake insurance is a separate policy or an endorsement to a homeowners insurance policy that covers damages to your home and belongings caused by an earthquake.

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Is UBI only available for car insurance?

While most common in auto insurance, UBI can also apply to other types of insurance, such as health insurance, where premiums are based on real-time activity.

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How does claims handling work in facultative reinsurance?

When a claim arises, the ceding insurer manages the claim process but consults the reinsurer for approval if necessary. The reinsurer reimburses its share of the claim based on the agreed terms in the facultative agreement.

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How is parametric insurance regulated?

Regulation varies by country but typically involves compliance with insurance laws, data transparency, fair pricing, and ensuring triggers are objectively measurable.

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