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The Insurance Group

Insurance, USA, North Carolina, Raleigh

The Insurance Group provides comprehensive insurance solutions, expert risk management advice, and personalized service to protect what matters most.

About The Insurance Group

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, North Carolina state
Official Website
http://www.theinsgroup.net
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FAQs – The Insurance Group

What are the main benefits of facultative reinsurance?

Facultative reinsurance helps insurers manage exposure to large or unusual risks, enhance their underwriting capacity, and reduce potential losses by sharing high-risk policies with a reinsurer. It also allows access to specialized expertise for complex risks.


How do on-demand insurance apps work?

On-demand insurance apps allow users to easily browse coverage options, purchase policies, manage claims, and activate or deactivate coverage directly through their mobile devices, providing flexibility and convenience.


Who can have insurable interest in a person’s life?

Close family members (such as spouses, parents, and children), business partners, creditors, and legal guardians can have insurable interest. The relationship should involve either financial dependence or potential financial loss due to the insured person's death.


Who needs long-term disability insurance?

Anyone who relies on their income to pay bills should consider LTD insurance. It is especially important for self-employed individuals, sole income earners, and those in physically demanding jobs.


What happens if I stop paying premiums on a universal life insurance policy?

If there is enough cash value, the policy may stay active. Otherwise, it could lapse, resulting in a loss of coverage and potential tax consequences.


How does a limit of liability affect premium costs?

Higher liability limits generally result in higher premiums because the insurer assumes a greater financial risk. However, higher limits also provide better financial protection, reducing the risk of personal or business assets being used to cover excess costs in case of a lawsuit.


How do insurers calculate Actual Cash Value?

Insurers calculate ACV by subtracting depreciation from the replacement cost. Depreciation is based on factors like age, condition, wear and tear, and market trends affecting the item’s value.


What is the NAIC Insurance Data Security Model Law?

This law establishes cybersecurity requirements for insurers, ensuring they protect consumer data from breaches and cyber threats.


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