How do I purchase Employer’s Liability Insurance?

You can buy it through an insurance provider, broker, or agency specializing in business liability coverage. Compare quotes from multiple insurers, assess policy terms, and ensure it meets your business’s legal and financial protection needs.

Is public health insurance free?

Public health insurance may be free or low-cost, depending on the country’s system. In many cases, funding comes from taxes, and citizens may not have to pay premiums, but there may still be co-pays or fees.

What is quota share reinsurance?

Quota share reinsurance is a proportional agreement where the insurer and reinsurer share premiums and claims based on a fixed percentage.

How long does it take for an insurance claim to be processed?

The processing time varies depending on the claim type and insurer. Simple claims (such as health or minor auto repairs) may be settled within days, while complex claims (such as property damage or liability claims) may take weeks or months to complete.

Why do insurance companies need reinsurance?

Reinsurance helps insurers manage financial stability, comply with solvency regulations, expand underwriting capacity, and mitigate risks associated with large claims.

Do deductibles reset every year?

It depends on the type of insurance. Health insurance deductibles usually reset annually, meaning you must meet the deductible again each year. In contrast, auto and homeowners insurance deductibles apply per claim, so you pay the deductible each time you file a claim, regardless of the calendar year.

How much does flood insurance cost?

The cost of flood insurance varies based on factors such as your home's location, flood risk, coverage amount, deductible, and the insurer. Homes in high-risk flood zones usually have higher premiums.

How do reinsurance treaties affect an insurer’s financial stability?

Reinsurance treaties provide stability by spreading risk, allowing insurers to take on more policies while maintaining adequate capital reserves and claim-paying ability.