What does Hull Insurance cover?

Hull Insurance typically covers damage to the ship's hull, machinery, and equipment, including losses from fire, collision, grounding, theft, and natural disasters like storms. Some policies may also cover third-party liability.

Can I have Medicare and employer insurance at the same time?

Yes, you can have both. Your employer coverage may serve as primary insurance, while Medicare acts as secondary coverage, depending on your employer’s size and policy.

What are the consequences of consistently low RBC levels for an insurer?

Insurers with consistently low RBC levels may face regulatory scrutiny, penalties, increased supervision, or even suspension of their ability to write new policies.

Does comprehensive insurance cover damages from falling objects?

Yes, if falling objects, such as tree branches or debris from a storm, damage your property or vehicle, it is typically covered under comprehensive insurance.

Can CPCU courses be taken online?

Yes, The Institutes offer self-paced online courses, instructor-led virtual classes, and in-person study programs, providing flexibility for working professionals seeking the CPCU designation.

What are loss triangles in actuarial science?

Loss triangles are used in claims reserving to track claims development over time. Actuaries use them to estimate ultimate losses, identify trends, and adjust reserves accordingly. They help insurers predict future claims payments and manage financial stability.

Does business liability insurance cover employees?

No, general liability does not cover employee injuries. Businesses need workers’ compensation insurance to cover medical expenses and lost wages for employees injured on the job.

Can an insurer operate with a low solvency ratio?

An insurer with a low solvency ratio may operate temporarily but risks regulatory intervention, financial penalties, or restrictions on issuing new policies.