Can I take a loan against the cash value in my Universal Life policy?

Yes, policyholders can borrow against their cash value at a specified interest rate. However, unpaid loans reduce the death benefit and can cause the policy to lapse if not managed properly.

How does artificial intelligence impact Insurtech?

AI helps Insurtech automate underwriting, detect fraud, process claims faster, provide personalized recommendations, and analyze vast amounts of data to assess risk more accurately and improve decision-making.

What is stop-loss reinsurance?

Stop-loss reinsurance protects insurers by covering claim amounts exceeding a predetermined loss ratio or total claim threshold.

How do insurers calculate their required capital under Solvency II?

Under Solvency II, insurers calculate their required capital by assessing various risks, including underwriting, market, credit, and operational risks. The capital is determined through a risk-based approach, where the insurer must hold sufficient capital to cover potential losses under stressed scenarios.

How does business interruption coverage work in cyber insurance?

It compensates for lost revenue, additional expenses, and operational downtime caused by cyberattacks that disrupt business functions and affect service delivery.

Can I switch homeowners insurance providers?

Yes, you can switch providers at any time, but it's best to compare quotes, coverage options, and cancellation fees before doing so. Make sure there’s no coverage gap between policies. If you have an escrow account, notify your mortgage lender about the change.

What rights does a policyholder have in an insurance contract?

A policyholder has the right to modify coverage (if allowed), select beneficiaries, make claims, receive policy information, cancel coverage, and, in some cases, transfer ownership. Their rights are defined in the policy terms.

How does the insurance claims adjustment process work?

An insurance adjuster evaluates your claim, assesses the damage or loss, reviews policy coverage, and determines the payout based on the findings.