Can insurance fraud be committed by the insured, the provider, or both?

Yes, insurance fraud can be committed by both the insured and the provider. Insured individuals may exaggerate or falsify claims, while providers can overcharge, submit false billing, or fabricate services. Both parties contribute to the larger problem of insurance fraud, which can escalate claims costs for everyone.

What is the difference between general liability and employer liability insurance?

General liability covers third-party claims (customers, vendors), while employer liability specifically protects against employee lawsuits related to workplace injuries or conditions.

Can I sue an uninsured driver for damages?

Yes, you can sue an uninsured driver for damages, but collecting compensation can be difficult if they lack assets or income. Many uninsured drivers are unable to pay settlements, which is why having UM coverage is a practical way to protect yourself financially.

Can an insurance policy be canceled?

Yes, both the insurer and the policyholder can cancel a policy under certain conditions. Insurers may cancel due to non-payment or fraud, while policyholders can cancel at any time, often subject to fees or penalties depending on the policy terms.

What is the difference between a Ceding Company and a Reinsurer?

The Ceding Company is the primary insurer that transfers risks, while the Reinsurer assumes part of that risk in exchange for premiums.

What are the risks of AI in warfare?

AI can be used for autonomous weapons, surveillance, and cyber warfare, raising ethical and security concerns. AI-driven weapons may lack human moral judgment, leading to unintended consequences. International regulations and ethical frameworks are necessary to prevent AI from being misused in conflicts.

What industries commonly use facultative reinsurance?

Industries with high-value or complex risks, such as aviation, energy, construction, marine, and large-scale commercial property insurance, frequently use facultative reinsurance for risk mitigation.

Is flood insurance required by law?

Flood insurance is required for homeowners with federally backed mortgages if they live in high-risk flood zones designated by FEMA.