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Insurance Library

Insurance, United States, Massachusetts, Boston

Your one-stop shop for insurance education and resources, providing expert knowledge and support to individuals and organizations in the insurance industry.

About Insurance Library

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, Massachusetts state
Official Website
http://www.insurancelibrary.org
Location Address Official Phone Email
United States of America, Massachusetts state United States, Massachusetts, Boston **** ****
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FAQs – Insurance Library

What is a covered peril in insurance?

A covered peril is an event or risk explicitly listed in an insurance policy that the insurer will provide financial protection against. Examples include fire, theft, vandalism, windstorms, and accidents, depending on the type of policy.


How has Lloyd’s evolved in response to climate change?

Lloyd’s now provides parametric insurance for climate risks, encourages sustainable investment practices, and adjusts underwriting policies to reflect environmental concerns.


How does a treaty reinsurance agreement benefit the reinsurer?

A reinsurer benefits by receiving a portion of the premium income and assuming liability for a share of the claims, while diversifying its risk portfolio across multiple insurers.


What types of injuries does workers' compensation cover?

It covers injuries that occur in the workplace or while performing job-related duties. This includes accidents, repetitive stress injuries, occupational illnesses, and some mental health conditions caused by work-related stress or trauma.


How does sum assured impact the premium amount?

Higher sum assured results in higher premium costs, as the insurer takes on greater financial risk. Premiums also vary based on the policy type, age, and health condition of the insured.


What are common types of endorsements in life insurance?

Common life insurance endorsements include accidental death riders, critical illness riders, waiver of premium, and accelerated death benefit riders.


What is the waiting period in a policy?

A waiting period is the initial period during which no claims can be made for specific coverages, such as pre-existing conditions in health insurance. Waiting periods vary by policy and insurer and may range from a few months to several years.


How do insurers address adverse selection?

Insurers combat adverse selection by using medical exams, underwriting processes, pricing based on risk factors, and incentivizing lower-risk individuals to purchase insurance.


Comprehensive Market Research

Get in-depth market research for Insurance companies in United States, Massachusetts, Boston. Our experts analyze trends, gather valuable insights, and identify key opportunities to drive your business growth.