Can I work while receiving short-term disability benefits?

Most short-term disability policies do not allow you to work while receiving benefits, as they are intended to replace lost income when you cannot perform your job duties. Some policies may allow limited work or partial benefits in certain cases. Check your policy for details.

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What are the risks associated with treaty reinsurance?

Risks include counterparty risk (insolvency of the reinsurer), pricing risks, potential coverage disputes, and the possibility of over-reliance on reinsurance. If not properly structured, a treaty can lead to financial strain rather than risk mitigation.

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What is a morale hazard in insurance?

A morale hazard refers to careless or reckless behavior by the insured, like leaving doors unlocked or driving irresponsibly, because they know insurance covers losses.

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How is AI-driven fraud detection improving insurance security?

AI-driven fraud detection systems analyze behavioral patterns, transaction histories, and anomaly detection algorithms to identify fraudulent claims. By using predictive analytics and machine learning, insurers can reduce fraudulent payouts, enhance compliance, and protect honest policyholders from increased premium costs due to fraud-related losses.

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What is the impact of Brexit on international insurance laws?

Post-Brexit, the UK is no longer bound by EU insurance laws, which impacts cross-border insurance agreements between the UK and EU countries. Insurers must navigate separate regulatory frameworks and potential trade barriers.

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What is the waiting period for illness coverage?

Most insurers have a waiting period of 14 to 30 days before illness coverage takes effect after purchasing the policy.

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What should I do if my HMO denies a claim?

If your HMO denies a claim, review the reason for denial, check your policy coverage, and contact customer service for clarification. You can appeal the decision by submitting additional documentation or requesting an internal review.

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Can a loss ratio be negative?

No, a loss ratio cannot be negative since claims paid will always be a non-negative number. However, a very low loss ratio may indicate inadequate claim payouts or excessive premium collection.

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