Can I dispute an exclusion if I believe my claim should be covered?

You can appeal an insurer’s decision by providing evidence and supporting documents to justify your claim. If the dispute isn’t resolved, you may escalate it to an insurance ombudsman, regulatory authority, or legal counsel for further review.

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Who regulates on-demand insurance?

On-demand insurance is regulated by the same governing bodies that regulate traditional insurance in the respective country. In India, for example, the IRDAI (Insurance Regulatory and Development Authority of India) oversees these policies.

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How does insurable interest apply to property insurance?

In property insurance, the insured must have a financial stake in the property at the time of both policy purchase and loss occurrence. For example, homeowners have an insurable interest in their houses, landlords in rental properties, and businesses in company assets. Without this interest, claims could be denied.

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Where can I get short-term disability insurance?

You can obtain short-term disability insurance through your employer, private insurance companies, or state-sponsored programs in states that require disability coverage. Comparing policies is recommended.

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Is universal life insurance a good investment?

Universal life insurance provides tax-advantaged growth and flexibility, but it may not be the best investment option for those seeking higher returns with lower fees.

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Can the limit of liability be increased after purchasing a policy?

In many cases, policyholders can increase their limits by purchasing endorsements or an umbrella policy. However, increasing the limit may require additional underwriting, and the insurer may assess new risk factors before approving the change.

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What does the future of insurance technology look like?

The future of insurance includes AI-driven automation, blockchain-based claims processing, deeper IoT integration, climate-focused policies, and more personalized, data-driven insurance solutions for consumers and businesses.

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How does the NAIC interact with federal regulators?

The NAIC collaborates with federal agencies like the Treasury and SEC to align insurance regulations with national financial policies.

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