What is an "uninsurable peril"?

An uninsurable peril is a risk that insurers generally do not cover due to its high unpredictability or potential for extreme loss. Examples include war, acts of terrorism, government seizure, and certain types of pollution. Some uninsurable risks may require specialized or government-backed insurance programs.

How does captive insurance affect a company’s financial stability?

Captive insurance can improve financial stability by providing more predictable costs, retaining underwriting profits, and offering greater control over insurance claims. However, it also requires sufficient capital to meet claims.

How does AI impact cybersecurity?

AI strengthens cybersecurity by detecting threats, preventing fraud, analyzing patterns, and automating responses to cyberattacks in real-time.

What are some challenges faced in implementing agricultural insurance?

Challenges include high costs, lack of awareness, limited access in rural areas, basis risk in index insurance, and reluctance from farmers due to previous poor experiences with claims processing or policy terms.

What does uninsured motorist coverage pay for?

It typically covers medical bills, lost income, pain and suffering, and, in some cases, vehicle repair costs if you have uninsured motorist property damage coverage.

Does surrender value apply to term insurance?

No, term insurance does not provide a surrender value as it only offers death benefits and does not accumulate cash value.

What types of endorsements are available?

There are many types of endorsements, including coverage extensions (e.g., adding flood insurance), exclusions (e.g., removing certain perils), and administrative changes (e.g., updating the insured’s name or address). The availability depends on the type of policy and insurer.

What industries are being transformed by blockchain?

Blockchain is transforming industries such as finance, healthcare, supply chain, real estate, gaming, cybersecurity, and voting systems by increasing transparency and efficiency.