How much does Medicare cost?

Part A is free for most people, but has deductibles. Part B has a monthly premium (adjusted based on income) and a deductible. Part C and D costs vary by plan. Additional out-of-pocket expenses include copays and coinsurance.

How much discount can I get with a No-Claim Bonus?

The discount varies by insurer and the type of insurance. Typically, it ranges from 20% to 50%, depending on the number of claim-free years and the insurer’s policy.

What regulations govern AI in insurance underwriting?

Various global regulations, including GDPR and insurance-specific laws, require transparency, fairness, and data protection in AI-driven underwriting.

Do I need a college degree to earn a CPCU?

No, a college degree is not required for CPCU certification. However, having a background in business, finance, or risk management may help in understanding complex insurance principles covered in the coursework.

How does Marine Liability Insurance handle wreck removal?

It covers expenses for removing a wrecked vessel from navigational routes, as required by maritime law or port authorities.

What is employment practices liability insurance (EPLI)?

Employment Practices Liability Insurance (EPLI) covers claims related to employee lawsuits, such as wrongful termination, discrimination, harassment, or wage disputes. It protects businesses from costly legal battles with current or former employees. As workplace lawsuits rise, EPLI is becoming essential for businesses of all sizes.

Can insurance reserves be adjusted?

Yes, insurers periodically review and adjust reserves based on new claim data, economic conditions, and actuarial predictions. If claims are higher than expected, they may increase reserves to ensure adequate coverage.

Why do insurance companies charge co-payments?

Co-pays help control healthcare costs by discouraging unnecessary visits, ensuring shared financial responsibility between insurers and policyholders, and keeping premiums lower.