How does IRDAI ensure solvency and financial stability in the insurance sector?

IRDAI mandates that insurance companies maintain a solvency margin, ensuring they have enough financial reserves to meet claims. It also conducts regular audits, stress tests, and compliance checks to prevent financial instability.

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Does Routine Care cover dental cleanings?

Yes, dental cleanings are often included in Routine Care coverage, as dental health is a vital part of overall pet wellness. Coverage may include professional cleanings, dental exams, and sometimes basic dental treatments.

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Who should consider whole life insurance?

Whole life insurance is ideal for individuals seeking lifelong coverage, guaranteed benefits, estate planning solutions, or a conservative savings component with predictable growth.

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Can I use my NCB from a bike for a car or vice versa?

No, NCB is not transferable between different vehicle types. If you have accumulated NCB on a car insurance policy, it can only be used for another car. The same applies to two-wheelers.

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Can AI underwriting replace human underwriters completely?

While AI automates many underwriting tasks, human oversight remains essential for complex cases, ethical considerations, and final decision-making to ensure fairness and compliance with regulations.

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Can I get compensation if my insurance company violates consumer protection laws?

Yes, if an insurer violates consumer protection laws, you may be entitled to compensation, legal remedies, or a settlement, depending on the severity of the violation.

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What is a deductible in marine freight insurance?

A deductible is the portion of the loss that the insured must pay before the insurance coverage takes effect. Higher deductibles generally result in lower insurance premiums, but they also mean greater out-of-pocket expenses for the insured.

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How often do I need to renew my Medicaid coverage?

Medicaid eligibility is reviewed annually. You’ll receive a renewal notice from your state’s Medicaid office, and you must update income and household information to maintain coverage.

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