What is the impact of Solvency II on international insurers?

Solvency II is an EU regulatory framework that establishes risk-based capital requirements, governance, and reporting standards for insurers. International insurers operating in the EU must comply with these stringent regulations to ensure financial stability and policyholder protection.

Can I use short-term disability insurance for mental health conditions?

Some policies cover mental health conditions like severe anxiety, depression, or stress-related disorders if they prevent you from working, but coverage varies by provider.

Can I change my primary care physician (PCP)?

Yes, most HMOs allow members to change their PCP at any time, but there may be restrictions on how often changes can be made. You must select a new doctor from within the HMO network, and changes typically take effect at the beginning of the next billing cycle.

What is the difference between per occurrence and aggregate limits of liability?

Per occurrence limits refer to the maximum amount an insurer will pay for a single claim or incident, while aggregate limits refer to the total maximum amount payable for all claims during a policy period.

How do actuaries use mathematics in their work?

Actuaries use probability, calculus, statistics, and financial modeling to evaluate risks, set insurance premiums, design pension plans, and forecast long-term financial stability.

What happens if my insurance broker goes out of business?

If your broker goes out of business, your insurance policy remains valid, as it is directly with the insurance company. You may need to find a new broker to manage your policy or work directly with the insurer for any policy changes or claims. Regulatory bodies may also provide guidance.

Can hull insurance cover personal injury claims?

No, hull insurance primarily covers damage to the vessel. Personal injury claims for crew or passengers are typically covered under Protection & Indemnity (P&I) insurance, not hull insurance.

How do I apply for Medicaid?

You can apply online through your state’s Medicaid website, in person at a local office, or via the federal Health Insurance Marketplace.