What legal issues arise from climate change and insurance?

Legal disputes are increasing over claim denials, coverage exclusions, and insurer withdrawal from high-risk areas. Some states and advocacy groups are pushing for regulations to ensure fair insurance access despite growing climate risks.

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What happens if a policyholder stops paying premiums?

If a policyholder stops paying premiums, the policy may lapse or be converted to a reduced paid-up policy, depending on the policy type and terms.

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What illnesses are commonly covered by pet insurance?

Coverage varies by provider, but most policies include conditions like infections, digestive issues, respiratory diseases, cancer, diabetes, allergies, and hereditary conditions (if not pre-existing). Some policies also cover chronic illnesses like arthritis and kidney disease, depending on the terms. Always review policy details before purchasing.

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Can I convert my Universal Life Insurance into another policy?

Some insurers allow policy conversions to different types of life insurance, such as Whole Life or Term Life. Conversion options depend on the insurer’s policy terms and may require underwriting or adjustments to coverage.

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What is the role of insurable interest in marine insurance?

In marine insurance, shipowners, cargo owners, and charterers must have an insurable interest in the ship or goods to claim compensation in case of loss or damage.

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What are some examples of adverse selection in health insurance?

An example of adverse selection in health insurance is when individuals with pre-existing conditions or higher health risks are more likely to purchase health insurance, while healthier individuals may forgo it. This results in a pool of policyholders that costs more to insure than anticipated.

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What is the IRDAI’s stance on microinsurance and rural insurance?

IRDAI mandates insurers to offer microinsurance and rural insurance products, ensuring financial inclusion and affordable coverage for low-income groups and people in underprivileged areas.

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Can independent contractors get professional liability insurance?

Yes, independent contractors and freelancers can purchase policies to protect themselves from liability claims related to their professional services.

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