Can I buy additional short-term disability coverage?

Yes, if your employer’s coverage is limited, you can purchase a supplemental policy from a private insurer to increase your benefit amount or extend your coverage duration. Private policies allow customization based on your income and financial needs.

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How do reinsurance treaties handle catastrophic events?

Catastrophic events are managed through non-proportional treaties like excess-of-loss reinsurance, which caps an insurer’s liability. Insurers also use catastrophe bonds and reinsurance pools to diversify their exposure to extreme losses.

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Can hazards affect my insurance premium?

Yes, higher hazards lead to increased risks, which may result in higher insurance premiums or even denial of coverage if the risks are too severe.

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How will the future of insurance evolve with technology?

The future of insurance will be increasingly digital, data-driven, and customer-centric. AI, blockchain, IoT, and big data will continue to drive efficiency, personalization, and automation. The industry will also see growth in parametric insurance, embedded coverage, and decentralized insurance models, making protection more seamless and accessible.

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How do international insurance laws impact expatriates and migrants?

Expatriates and migrants must navigate varying insurance laws in their host countries. International insurance laws may help ensure they have access to health, life, and other necessary insurance, often through cross-border agreements.

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Does pet insurance cover hospitalization and surgery for illnesses?

Yes, if the illness is covered, the policy will typically pay for hospitalization, surgery, and post-operative care costs.

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What happens if my PCP leaves the HMO network?

If your PCP leaves the network, your HMO will notify you and provide options for selecting a new in-network doctor. Some plans allow a transition period so you can continue seeing your current doctor temporarily while finding a replacement.

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How do regulatory agencies use loss ratios?

Regulatory agencies use loss ratios to ensure that insurers are fairly compensating policyholders and not overcharging for premiums while maintaining financial stability.

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