In the United States, just over one third of small businesses add business interruption insurance (BI) on to their commercial property policy, according to the Insurance Information Institute. That means the vast majority
Author: Insurance24
19Oct
Victoria Falls Stock Exchange to launch this Friday
Victoria Falls Stock Exchange to launch this Friday
Staff reporter
HARARE, The Victoria Falls Stock Exchange Limited (“VFEX”) has been granted the approval to launch and commence trading of securities by the Securities and Exchange Commission of Zimbabwe (SECZ).
The official opening of VFEX is scheduled for Friday 23 October 2020, at its new offices in Victoria Falls. The Minister of Finance and
18Oct
US cyber insurance market at exciting crossroad
The US cyber insurance marketplace has reached an interesting crossroad. The market is hardening, rate momentum is picking up, and underwriters are starting to be far more stringent in risk selection with the aim of portfolio optimization and maximizing their return on capital. In this evolving environment, which has been complicated by the COVID-19 pandemic, the US cyber insurance marketplace is
16Oct
General economic decline impacts short term insurers
General economic decline impacts short term insurers
Staff Reporter
While the covid-19 lockdown contributed to the decline in performance in the short term insurance sector , the general decline in the economic growth of the country has taken a toll on the performance of corporates, Insurance 24 has learnt.
Corporates are the main consumers of short-term insurance products culminating
14Oct
Is your life insurance cover adequate? Find out
It is essential to understand why you may still be underinsured, how it may impact your family’s financial future and how much protection would you require for adequate coverage.
Insurance needs change with changes in age, income, expenses, debt, lifestyle, inflation, etc.; and you need to factor in these changes and top-up your insurance purchases.Having inadequate life insurance protection could be as devastating for your dependent family members as not having a life insurance cover at all. If you don’t have any life insurance cover, you may identify your insurance requirement and get the appropriate product. But if your life insurance size is inadequate, you may not know it until you review it correctly.Hence, it’s essential to understand why you may still be underinsured, how it may impact your family’s financial future and how much protection would you require for adequate coverage.
How to determine adequate cover size
One of the key purposes of a life insurance policy is to ensure financial support to the insured’s dependent family members after his or her death. There are various ways to
12Oct
10 things to check to make sure your insurance claim goes through
Getting insurance cover for one’s assets is commonly seen by many as a grudge purchase, and as much as some customers might not enjoy paying their monthly premiums, the good news is that they’re assured that their assets are well covered (within the limits of the policy wording) to face the worst of unforeseen circumstances.
businesstech
Very few people read through the fine print in their insurance
12Oct
ICZ continues fight against Covid 19, as it donates food hampers Parirenyatwa
ICZ continues fight against Covid 19, as it donates food hampers Parirenyatwa
Staff reporter
THE Insurance Council of Zimbabwe, (ICZ) on Friday handed over food hampers to the medical and ancillary staff of Parirenyatwa Covid 19 Treatment Centre as part of alleviating the pressures the staff is enduring in the fight against the pandemic.
Insurance Council of Zimbabwe is an association of short
10Oct
COVID-19 and Mental Health: Know inclusions, exclusions in health insurance plans covering mental illness
Health insurance policies cover treatment for mental illness, stress or psychological and neurodegenerative disorders without any discrimination between mental or physical illness.
The guidelines issued by IRDAI state that treatment of mental illness will also be provided coverage under standard health insurance policies.To meet hospitalization cost arising out of COVID-19, the regulator ensured that there are dedicated coronavirus health insurance plans in addition to the regular health covers available in the market. But, COVID-19 is also having an impact on the mental health of the individuals. After the outbreak of coronavirus and the subsequent lockdown across the cities, the focus on the mental health of the individuals has also increased. The good news is the regulator had already asked insurance companies to include the coverage of mental illness as a part of the coverage in the health insurance plans in 2018.“Heath insurance policies now cover treatment for mental illness, stress or psychological and neurodegenerative disorders without any discrimination between mental or physical illness. In case a patient is hospitalized due to mental illness, the policy will cover expenses for medical examination, treatment procedures and rehabilitation as well,” says Rakesh Jain, ED & CEO, Reliance General
7Oct
Term insurance: How much should your coverage amount be?
Life insurance is one of the important pillars of personal finance. In the COVID-19 era, this has assumed greater significance.
In case of the death of the insured individual during the policy term, the death benefit (a lump-sum amount) is paid by the insurance company to the beneficiaries named by the individual. If the person survives the tenure of the policy, he/she doesn’t get anything back.
The
7Oct
The Best Insurance Companies In Every State 2021
San Antonio, Texas-based USAA Insurance, America’s fifth largest property-casualty insurer, used the sudden change in driving patterns and accident logs as a cue to return money to its policyholders. In 2020, USAA has returned over $1 billion to its policyholders through “auto insurance dividends,” which are helping to keep cash in their pockets at a time of economic uncertainty.
forbes.com
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