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Get in-depth market research for Insurance companies in Canada, Ontario, Toronto. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.
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Public Liability Insurance protects businesses and individuals against claims of injury or property damage made by third parties. It covers legal fees, compensation, and medical costs if an incident occurs due to your business activities. It's essential for businesses that interact with the public.
If the cash value runs out and no additional premiums are paid, the policy could lapse, leaving the policyholder without coverage unless payments are made to keep it active.
Depending on the policy’s terms, you may receive a prorated refund for the unused portion of the premium if you cancel.
Large corporations, mid-sized businesses, non-profits, and industry associations can benefit from forming a captive. Companies with high insurance premiums, stable loss histories, and strong risk management practices typically see the most advantages, including cost savings and increased flexibility in coverage.
Soft fraud involves exaggerating legitimate claims, while hard fraud includes deliberately causing losses, such as staging car accidents or falsifying injuries.
Retention refers to the amount of risk that the ceding company keeps on its own balance sheet before transferring the remainder to the reinsurer. It is essentially the threshold beyond which the reinsurer takes over the risk, and it is an important factor in determining the premium and structure of the reinsurance agreement.
UM coverage provides financial protection in case you're in an accident with an uninsured or underinsured driver, ensuring your medical expenses and vehicle damage are covered when others can’t pay.
Yes, choosing a higher deductible reduces an insurer’s risk, leading to lower premium costs, but it also means higher out-of-pocket expenses in a claim.
Get in-depth market research for Insurance companies in Canada, Ontario, Toronto. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.