Are electronics like laptops and cameras covered under baggage loss?

Many travel insurance policies offer limited coverage for electronics. Some require them to be declared separately for full coverage, while others may only reimburse a small amount. If you travel with expensive electronics, consider purchasing additional coverage or a separate electronics insurance policy.

Is term insurance cheaper than permanent life insurance?

Yes, term insurance is typically much cheaper than permanent life insurance because it only covers a specified term and does not accumulate cash value. It’s more affordable for those with temporary coverage needs.

What types of risks are commonly covered under facultative reinsurance?

Facultative reinsurance is used for high-value risks such as aviation, marine, large commercial properties, specialty liability, and unique or complex insurance policies.

How do reinsurers assess risk before underwriting?

Reinsurers evaluate risk by analyzing an insurer’s claims history, exposure levels, geographic spread, underwriting policies, and catastrophe modeling. They also consider actuarial data, risk management strategies, and regulatory compliance to determine pricing and terms, ensuring the arrangement aligns with both parties’ risk tolerance.

What is the difference between indemnity insurance and liability insurance?

Indemnity insurance compensates for losses suffered by the insured, while liability insurance covers claims made against the insured for damages or injuries caused to third parties.

What is the waiting period for long-term disability insurance?

Most policies have a waiting period of 90 to 180 days before benefits begin, requiring short-term disability or savings.

How do I find out if my doctor is in-network?

You can check your insurer's website or contact customer service to verify if your doctor is in-network. Using in-network providers helps reduce costs, as insurance companies negotiate lower rates with these healthcare providers.

Does liability insurance cover intentional acts?

No, liability insurance generally does not cover intentional harm or criminal acts committed by the policyholder, as coverage is meant for accidents and unforeseen liabilities.