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Annex Risk

Insurance, United States, New York, New York City

Innovative insurance solutions for the modern world, specializing in cyber and professional liability coverage.

About Annex Risk

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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, New York state
Official Website
http://www.annexrisk.com
Location Address Official Phone Email
United States of America, New York state United States, New York, New York City **** ****
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FAQs – Annex Risk

Can a business operate without cyber insurance?

While businesses can operate without cyber insurance, doing so exposes them to significant financial and legal risks. A single data breach can lead to millions in losses, lawsuits, and regulatory penalties, making cyber insurance a crucial safeguard against cyber threats.


How does public health insurance differ from private insurance?

Public health insurance is funded and administered by the government, often providing lower premiums or no cost, while private insurance is provided by private companies and usually requires higher premiums and co-pays.


How does a reinsurance treaty work?

A reinsurance treaty is a contract where a reinsurer agrees to cover a set portion of risks across multiple policies.


What is claim adjustment in insurance?

Claim adjustment is the process insurers use to assess and settle claims. It involves investigating the claim, determining the validity of the loss, evaluating damages, and negotiating the settlement amount based on policy terms and conditions.


How does an insurance agent earn a commission?

Insurance agents typically earn a commission by selling insurance policies. The commission is a percentage of the premium paid by the policyholder to the insurer.


Can I have both a copay and coinsurance for the same service?

Yes, some insurance plans require both. You might pay a copay for an initial visit and then owe coinsurance for additional services provided during that visit. For example, you may have a copay for a doctor visit but still owe coinsurance for lab tests or procedures done at the same visit.


Does standard homeowners insurance cover earthquake damage?

No, standard homeowners insurance typically does not cover earthquake damage. Homeowners must purchase a separate earthquake insurance policy or add an endorsement to ensure coverage for earthquake-related losses.


What happens if the item I need to replace is no longer available?

If the exact replacement item is unavailable, the insurer may pay for a similar item of comparable quality and functionality. You might need to discuss this with your insurance company.


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