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
Category: International
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
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
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
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
In
5Oct
Motorcycle insurance vs car insurance: What’s the difference?
While motorbikes and cars share the road, there are a few differences to take into account when choosing an insurance policy to suit each kind of vehicle.
mozo.com
Some are more obvious – like having no windshield on a bike meaning you won’t need windscreen cover – while others might be harder to pinpoint. To make sure you choose the right policy for your set of wheels, be they a pair of two
5Oct
Judges break down consolidated business interruption claims – boost for insurers
A panel of judges has preemptively moved to prevent 1,000 COVID-19-related business interruption (BI) insurance lawsuits from consolidating, which would have swamped the one judge overseeing all the cases.
insurancebusinessmag
Last week, a group of judges said that it would be too unwieldly for one judge to administer over 1,000 BI cases from all across the US, ruling that it would be more efficient
2Oct
Why tenant discrimination coverage should be part of any property owners’ insurance portfolio
Various social justice movements around the world have shone a spotlight on issues of discrimination. Considering these social shifts and developments, it’s crucial that property owners and managers both understand the laws regarding tenant discrimination, as well as take steps to mitigate risks they may face by violating tenant rights.
In this environment, tenant discrimination insurance (TDI)
1Oct
UK COVID-19 Insurance Dispute Could Be Heading to Supreme Court as Talks Falter
Britain’s markets regulator said on Wednesday it had failed to strike a deal with major insurers over prompt payouts to small businesses battered by the coronavirus pandemic, dashing hopes that a Supreme Court appeal could be easily avoided.
The Financial Conduct Authority (FCA) set a Wednesday deadline for talks with insurers, such as QBE and RSA, to ensure eligible business interruption (BI)