Virtually every human being has some sort of insurance policy covering him or her. Whether health insurance, auto insurance, or life insurance. Consequently, in the course of acquiring insurance, you are sure to encounter words like “Deductible” or “Premium”. It is important to gain adequate knowledge as regards these terms, hence the purpose of this […]
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6 Types of insurance you need for retirement
One of the major stages of life that every worker patiently looks forward to is the Retirement stage. At this stage, everything changes. It is the stage where the heavy load of work, bulks of responsibilities, and endless stress is off your shoulders. You finally get to feel relieved and relaxed, having a long break […]
Insurance rights of subrogation – Meaning and how it works
The broad nature of insurance means that you could have different parties to consider in an insurance claim. This includes the insurer, the insured, and other third parties. As a result, sometimes damages might be incurred by the insured which, although covered in his policy, resulted from the recklessness of a third party. In such […]
Ex Gratia in Insurance Explained
It is a well-known fact that insurance companies only pay for what they cover in the policy contract. Therefore, you can damage your car, along with the engine or even have a disability in the process and not get cover because your policy isn’t broad enough. In situations like this, the insurer can stick to […]
Insurance for riots and looting – Does insurance cover riots and looting?
Individuals purchase insurance policies because they intend to transfer the risk associated with certain assets. Hence, there are common policies like business insurance, auto insurance, home, and personal insurance. However, it becomes unclear for business individuals in knowing what specifics your policy covers, as in this case, insurance for riots looting. This is the one […]
Who is an Actuary? All you should know about them
Risk is an inseparable element in our lives and in the world. Ever since the dawn of civilization, risk management had become a necessity. Innovators attempted to develop a scientific risk management scheme. Finally, in the 17th Century, they had a breakthrough and they presented us with Actuaries. Actuaries function in all sectors and aspects […]
Insurance Certificate – Everything you should know
On purchase of insurance, they issue us a contract signed by the two parties – you and your insurer. We should keep this contract in uttermost confidence, as it is our legal ground for claims and bridge of contract. However, when required to show proof of insurance to third parties, brandishing your contract might not […]
Insurance Technology Trends in 2024
Insurance involving a lot of paperwork and physical meetings is quickly becoming a thing of the past. This is because of emerging technologies trends in the insurance industry. There are quite a number of opportunities in the insurance world and always jobs in demand Today, you are one click away from purchasing insurance on your […]
Principles of Insurance Explained
The purpose of getting yourself insured is to guarantee compensation for specified loss, damage, illness, or death. It is important for you to prepare against any eventualities, and when doing this, you want to do it right. Unfortunately, many people dabble into insurance agreements without equipping themselves with sufficient knowledge as to how it works; […]
Contractor All Risk Insurance Explained
Heard about insurance? Then you should be familiar with the overall idea of risk mitigation or transfer. However, going a little deeper into the different insurance, there is a particular type called the Contractor all risk insurance (CAR). Although it operates as ordinary insurance would, they design it to provide cover for the primary risks […]