Is baggage loss coverage included in all travel insurance plans?

Not necessarily. Some basic travel insurance plans may not include baggage loss coverage. Always review the policy details before purchasing to ensure that lost baggage is covered and understand the compensation limits. Comprehensive plans usually offer higher coverage for baggage loss.

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Is term insurance suitable for permanent financial protection?

Term insurance is not suitable for permanent financial protection, as it expires after a set period. If long-term, lifelong coverage is needed, a whole life or universal life policy may be more appropriate.

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What is facultative reinsurance?

Facultative reinsurance is a type of reinsurance where a primary insurer negotiates coverage for a specific individual policy or risk rather than an entire portfolio.

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What is captive insurance and how does it relate to reinsurance?

Captive insurance is a self-insurance model where a parent company creates its own insurance subsidiary to cover specific risks. Captives often use reinsurance to transfer excess risks beyond their retention limits, ensuring they do not bear large financial burdens while maintaining cost efficiency and tailored coverage.

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What is a professional indemnity insurance policy?

A professional indemnity insurance policy protects professionals from legal claims due to errors, negligence, or omissions in their work, covering legal costs and compensation for financial losses suffered by clients.

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What is long-term disability insurance?

Long-term disability insurance provides income replacement if you are unable to work due to a serious illness or injury for an extended period.

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What happens if I miss a health insurance payment?

If you miss a payment, most insurers provide a grace period (usually 30 days) to make the payment before coverage is canceled. If coverage is terminated, you may have to wait until the next enrollment period to get a new plan or pay higher premiums.

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How does employer’s liability insurance protect businesses?

It covers employee injury claims not included under workers' compensation, such as lawsuits for unsafe working conditions or employer negligence leading to workplace-related illnesses or injuries.

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