Can an insurer subrogate against its own insured?

Generally, insurers cannot subrogate against their own insured due to the principle of utmost good faith in insurance contracts. However, exceptions exist, such as cases of fraud or if a contractual agreement specifically allows it. Otherwise, subrogation is typically directed at third parties.

What does comprehensive car insurance coverage include?

Comprehensive car insurance covers damage to your vehicle from non-collision events, including natural disasters, theft, vandalism, animal collisions, and fire, offering broader protection than basic liability or collision insurance.

How does AI influence social media?

AI curates content, personalizes user feeds, detects fake news, moderates harmful content, and enhances engagement through algorithm-driven recommendations.

What are real-life examples of moral hazard in insurance?

Common examples include a driver being less cautious after getting car insurance, a homeowner neglecting property maintenance because they have coverage, or a policyholder filing exaggerated or fraudulent claims.

Does business interruption insurance cover cyberattacks?

Most policies exclude cyber-related losses, but specialized cyber insurance policies may offer business interruption coverage for system outages caused by cyber incidents.

What is the surrender value of a whole life insurance policy?

The surrender value is the amount the insurer pays if you cancel the policy before death. It consists of the cash value minus any surrender charges. While surrendering the policy provides immediate cash, it also means losing future coverage and benefits.

How do you add another insured to a policy?

You can add an insured by requesting an endorsement from your insurer. The company will assess the risk associated with the new insured and may adjust the premium accordingly. Some policies allow additions only at renewal, while others permit mid-term changes.

How does life insurance work?

Life insurance provides a financial payout to beneficiaries upon the policyholder’s death, ensuring their loved ones receive financial support, debt coverage, or estate planning benefits.