How do I know if my insurance agent is trustworthy?

Check if your agent is licensed and registered with a regulatory body. Look for online reviews, client testimonials, and professional credentials. A trustworthy agent should be transparent, responsive, and willing to explain policy details without pressuring you into unnecessary coverage. Always request policy documents and verify insurer credibility.

What is a "Sue and Labor" clause in hull insurance?

The "Sue and Labor" clause requires the insured to take reasonable steps to minimize damage or prevent further loss after an incident. The insurer may reimburse these costs if covered.

Does Medicaid cover long-term care services?

Yes, Medicaid covers nursing home care, in-home assistance, and other long-term care services for eligible elderly and disabled individuals.

What are some of the largest reinsurers in the world?

Some of the largest reinsurers include Munich Re, Swiss Re, Hannover Re, SCOR, and Berkshire Hathaway Reinsurance Group. These companies provide global risk coverage and play a vital role in the stability of the insurance industry, covering risks from natural disasters to corporate liability.

What happens if a policyholder cannot afford their coinsurance payments?

If a policyholder cannot pay their coinsurance share, they may face medical debt, payment plans, or potential loss of services, but financial assistance programs may be available.

What is the role of The Institutes in the CPCU program?

The Institutes is the educational body that administers the CPCU program, offering resources, exams, and certification for professionals in the insurance industry.

How does a health plan with a low copayment compare to one with low coinsurance?

A plan with low copayments may have higher premiums but lower out-of-pocket costs for each visit. Conversely, a plan with low coinsurance may have lower premiums but higher costs if you require expensive medical services.

Will renters liability insurance cover dog bites or pet-related injuries?

Yes, many policies cover dog bites or other pet-related injuries, but certain dog breeds or exotic animals may be excluded, so check your insurer’s terms.