What types of liability insurance are there?

There are several types of liability insurance, including general liability, professional liability, product liability, and employers' liability. Each type addresses different aspects of legal responsibilities, depending on the nature of the activity or profession.

What is alternative dispute resolution (ADR)?

ADR refers to methods like mediation and arbitration used to resolve disputes outside of court, offering faster, cost-effective, and less adversarial solutions for legal conflicts.

Are there global standards for insurance contract terms?

While many countries follow common principles, contract terms, exclusions, and dispute resolution clauses vary based on local laws and regulations.

What types of cyberattacks are covered under cyber insurance?

Most cyber insurance policies cover hacking, phishing, ransomware, malware, denial-of-service attacks, insider threats, and other unauthorized access incidents. Coverage details vary, so businesses should review policies carefully to ensure adequate protection.

What are the pros of public health insurance?

Pros of public health insurance include lower premiums, widespread access to essential healthcare services, comprehensive coverage, and reduced financial barriers for people with limited resources or pre-existing conditions.

How do reinsurers make money?

Reinsurers earn premiums from insurers, invest funds, and manage risk efficiently to generate profits.

Can a policyholder negotiate a claim settlement?

Yes, policyholders can negotiate if they believe the initial settlement offer is too low. Providing additional evidence, obtaining independent appraisals, or hiring a public adjuster can help secure a better payout.

What is the role of an insurance agent in the claims process?

Insurance agents assist clients in filing claims, guiding them through the process and helping to ensure that claims are properly documented and submitted to the insurer.