Where can consumers find official IRDAI guidelines and updates?

Consumers can access official IRDAI guidelines, circulars, and updates on its official website (www.irdai.gov.in). The website provides information on regulations, insurance companies, grievance redressal, and industry developments.

Can Routine Care coverage be used for pet food or supplements?

No, Routine Care does not cover pet food, dietary supplements, or vitamins unless they are prescribed by a vet as part of a medical treatment plan. It is primarily for preventative and wellness care.

What happens if I stop paying premiums on my term policy?

If premiums are not paid within the grace period, the policy lapses, and coverage is lost unless reinstated within the allowed timeframe.

Can I get NCB on an expired policy?

If your policy has expired but is renewed within 90 days, you can retain your NCB. However, if you renew after 90 days, the NCB benefit is lost, and you will have to start accumulating it again from zero.

How do regulatory bodies oversee AI-powered underwriting?

Regulators ensure AI models comply with privacy laws, fairness principles, and transparency requirements, demanding insurers provide explanations for AI-driven underwriting decisions.

What study resources does the SOA provide for exams?

The SOA offers syllabi, online modules, recommended reading materials, past exams, practice questions, and official study guides.

What should shippers consider when choosing a marine freight insurer?

Shippers should evaluate insurers based on financial strength, reputation, claim settlement efficiency, coverage flexibility, premium rates, global reach, and customer support. Choosing an experienced insurer minimizes risks and ensures smooth claim handling.

How much liability coverage do I need?

The required minimum varies by state, but higher coverage limits are recommended to protect your assets from expensive lawsuits and large accident-related claims.