Selecting the ideal pet insurance policy for your dog or cat can be an important decision. While cost and coverage should be crucial factors, it’s also important to be aware of providers who have waiting periods for specific conditions like knee replacement surgery and hereditary diseases. Policies with illness coverage typically have a 14-day waiting …
A recall is the last thing a business wants, but even the most cautious companies can encounter unexpected product problems. Recalls are possible, and the consequences can be serious. They can be present in contaminated food, damaged electronics, or dangerous children’s toys. If a business is poorly managed, the financial consequences and reputational damage can …
When you purchase an insurance policy, whether it’s for your home, car, health, or anything else, there’s a process in the background determining the specifics of your coverage. This process is known as insurance underwriting. While you may not interact directly with an underwriter, their work ultimately influences key aspects of your policy, such as …
Owning a business is exciting and challenging. Despite all the excitement, there is sometimes one important aspect that gets overlooked: risk prevention. This is where general liability insurance can help. Imagine being protected from lawsuits, property damage, and personal injury costs. Sounds like a lot, right? Understanding how this type of insurance works can help …
The insurance industry is evolving due to the introduction of new technologies such as AI and blockchain. While the industry may have relied on paper documents in the past, it is technologically advancing, making it more customized and personalized while improving its accessibility. In this article, we will discuss how Insurtech is changing the insurance …
Embedded insurance has been silently changing how many people think about coverage. This type of insurance is different from the traditional one because it is integrated into a product or service and does not require a separate purchase or long waiting periods. It is much easier to buy insurance at the same time one purchases …
The persistent issues of insurance fraud and claims delays continue to be a problem for many companies, with cumulative losses reaching billions of dollars every year. Fraudulent claims tend to raise the insurance premiums of honest policyholders while processing genuine claims usually results in delays, administrative burdens, frustration, and financial difficulties for the clientele. However, …
In today’s world, cyber threats are emerging with unprecedented intensity and complexity, putting firms at risk regardless of their size. Among the risks, ransomware has rapidly emerged to be one of the most lethal types of cyber threats, wreaking havoc on companies and costing millions in ransom payments and operational downtime. Seeking to alleviate some …
When the unexpected happens, having insurance can provide a much-needed safety net. However, navigating the process of filing an insurance claim can feel overwhelming, especially if it’s your first time. This guide will walk you through the key steps to help you file a successful claim and maximize the benefits of your coverage. From understanding …
From time immemorial, home insurance has served as the financial shield for homeowners protecting them from sudden shocks from fires, thefts, and even water damage. Traditional insurance models, however, use a “wait for damage to occur” reactive strategy. The inclusion of smart home technology mitigates the damage before it occurs. Smart devices such as security …