Can I purchase travel medical insurance after I have started my trip?

Some insurers allow travelers to buy travel medical insurance after departure, but coverage may have restrictions or waiting periods. It's always best to purchase coverage before the trip begins to ensure full protection.

Does third-party insurance cover passengers in my vehicle?

In some policies, third-party insurance may cover injuries to passengers, but this depends on local regulations and policy terms. Additional personal accident coverage may be required.

What is the reinstatement period for a lapsed policy?

The reinstatement period varies by insurer but is typically between 6 months to 5 years, requiring payment of overdue premiums and interest.

What is the statute of limitations?

The statute of limitations is the legal time limit within which a lawsuit must be filed. It varies by jurisdiction and case type (e.g., contract breaches, personal injury, or fraud), preventing indefinite legal claims.

What is the difference between an indemnity and a guarantee?

An indemnity compensates for actual losses, while a guarantee ensures that a third party fulfills obligations if the primary party fails to do so.

What should a business do immediately after a hacking incident to ensure insurance coverage?

After a hacking incident, businesses should notify their insurer as soon as possible. They should document the breach, engage cybersecurity experts, preserve forensic evidence, and follow any required reporting obligations. Failing to report incidents promptly or not following policy conditions may result in denied claims.

What happens if I miss a health insurance payment?

Missing a payment may lead to a grace period, after which coverage could lapse. Some insurers allow reinstatement, but late payments may result in policy cancellation or waiting periods for reactivation.

How does the loss ratio differ from the combined ratio?

The loss ratio only considers claims relative to premiums, while the combined ratio includes both the loss ratio and expense ratio to assess overall profitability.