How do I apply for public health insurance?

The application process varies but typically involves submitting an online or paper application through a government agency. Applicants may need to provide proof of income, residency, or citizenship. Some programs automatically enroll eligible individuals, such as newborns or retirees.

What does liability insurance cover?

Liability insurance typically covers bodily injury and property damage caused by the policyholder. This includes legal defense fees, court costs, medical bills, lost wages for injured parties, and settlements or judgments awarded by the court.

How is on-demand insurance changing the market?

On-demand insurance allows customers to activate coverage for specific durations, such as travel, rental cars, or freelancers, providing flexible and cost-effective protection.

What is retrocession in reinsurance?

Retrocession is when a reinsurer transfers part of its risk to another reinsurer. This helps reinsurers manage their exposure to large losses, diversify their risk, and improve financial security. The company taking on the risk is known as the retrocessionaire.

Why is marine cargo insurance important?

Shipping involves risks like storms, piracy, theft, mishandling, and accidents. Marine cargo insurance helps businesses recover losses and continue operations without significant financial strain.

Can PPO plans cover preventive care services?

Yes, PPO plans often cover preventive care services, such as vaccinations, screenings, and wellness visits, sometimes at no extra cost to you.

What is non-proportional reinsurance?

Non-proportional reinsurance is a type of reinsurance where the reinsurer covers losses exceeding a specified threshold (retention limit). The reinsurer does not share premiums directly but steps in when claims surpass the predefined limit, offering financial protection for catastrophic events.

Why is the claim settlement ratio important?

A high claim settlement ratio reflects an insurer’s efficiency and trustworthiness in settling claims, helping policyholders choose a reliable company when purchasing insurance policies.