What documents do I need to support my baggage loss claim?

You typically need a PIR, a written confirmation from the airline, receipts of lost items, and proof of ownership. Some insurers may also require a police report if theft is involved.

What is variable universal life insurance (VUL)?

Variable universal life insurance allows policyholders to invest the cash value in various sub-accounts, similar to mutual funds, with higher growth potential but also greater risk.

How does the loss ratio impact policyholder premiums?

If loss ratios are high, insurers may increase premiums to cover costs; if low, they might offer discounts or better coverage options.

What is the difference between an actuary and a statistician?

While both professions use statistical techniques, actuaries focus on financial risk and long-term uncertainty, especially in insurance and pensions. Statisticians work in various industries, analyzing data for general research and decision-making.

How does the NAIC impact insurance company licensing?

The NAIC helps ensure that only qualified insurance companies are licensed by providing regulatory standards and reviewing insurer applications for compliance.

How does Hull Insurance handle collision liability?

Hull insurance policies often include a "collision liability" clause, covering the insured vessel's legal liability for damage caused to another vessel in a collision. This coverage is usually limited to a percentage of the hull value, with P&I insurance covering additional liabilities.

Can I see any doctor with a PPO?

Yes, PPO members can visit any doctor or specialist without referrals. However, in-network providers cost less, while out-of-network visits usually involve higher out-of-pocket expenses.

What expenses count toward the out-of-pocket maximum?

Deductibles, copayments, and coinsurance for in-network services all count toward the out-of-pocket maximum, but monthly premiums and out-of-network costs usually do not.