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Armor Texas Insurance Agency

Insurance, USA, Texas, Dallas

Protecting what matters most with personalized insurance solutions and expert risk management services.

About Armor Texas Insurance Agency

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Basics

Type
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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, Texas state
Official Website
http://www.armortexasins.com
Location Address Official Phone Email
United States of America, Texas state 123 Main Street, Dallas, TX 75001 **** ****
LinkedIn https://linkedin.com/company/**** Get In Touch With Decision Makers
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YouTube https://youtube.com/**** Get In Touch With Decision Makers

FAQs – Armor Texas Insurance Agency

What are policy riders or add-ons?

Riders are additional coverages that enhance the base policy. Examples include critical illness riders, accidental death benefits, and waiver of premium riders. Riders increase premiums but provide extended benefits customized to individual needs.


How do insurers use risk classification to manage adverse selection?

Insurers group individuals by risk level using factors like age, medical history, and occupation to set premiums that better reflect the likelihood of claims.


Does liability insurance cover cyber risks?

Standard liability insurance does not typically cover cyber risks. Businesses concerned about data breaches, cyberattacks, or online fraud should consider purchasing cyber liability insurance, which covers losses related to digital security incidents, including legal fees, customer notification costs, and reputation management.


Is whole life insurance worth it?

Whole life insurance is worth it for those seeking lifelong coverage, estate planning benefits, and cash value growth. However, it may not be cost-effective for those who only need temporary coverage.


What role does blockchain play in Insurtech?

Blockchain ensures secure and transparent transactions in insurance by preventing fraud, enabling smart contracts, and streamlining claim verification and payout processes.


What is the role of an actuary in captive insurance?

Actuaries play a crucial role in captive insurance by assessing risk, determining premium rates, setting loss reserves, and ensuring financial stability. They use statistical models to analyze claims data and predict future liabilities, helping captives make informed decisions about pricing, capitalization, and risk management strategies.


What is soft fraud vs. hard fraud?

Soft fraud involves exaggerating legitimate claims, while hard fraud involves deliberate schemes, such as staging accidents or fabricating losses, to obtain financial benefits illegally.


Does cyber insurance cover ransomware attacks?

Yes, many policies cover ransomware attacks, including ransom payments, data recovery costs, and business interruption expenses caused by cyber extortion.


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