In today’s digital world, cyber threats are increasing in frequency and sophistication, making cybersecurity insurance an essential safeguard for businesses of all sizes. From ransomware attacks to data breaches, organizations face significant risks that can lead to financial losses, legal liabilities, and reputational damage. Cybersecurity insurance helps cover these costs, ensuring businesses can recover swiftly…
[ad_1] No Claim Bonus (NCB) is a discount given by insurance companies to policyholders who have not made any claims in the previous policy period. It is a reward for safe and responsible driving, and the discount is applicable to the policyholder, not the vehicle. Many policyholders wonder whether they will lose their NCB if…
International General Insurance Holdings (IGI), a leading specialty risks commercial insurer and reinsurer, has announced a leadership transition. The company’s founder and current CEO, Wasef Jabsheh, will step down, and Waleed Jabsheh, the current president, will succeed him as the new Chief Executive Officer, effective July 1. IGI, registered in Bermuda, operates in various locations…
Underinsurance in fire insurance explained. Learn what the Average Clause means, how claims get reduced, and how to avoid underinsurance with practical examples. What Is Underinsurance in Fire Insurance? Underinsurance occurs when the Sum Insured is lower than the actual value of the property insured.In simple words, the asset is worth more than the value…
Insurance is a crucial tool for managing financial risks and providing protection against unexpected losses. Whether it’s safeguarding your health, home, vehicle, or loved ones, insurance offers peace of mind and financial security. In this guide, we’ll explore the fundamentals of insurance, its key components, various types of coverage, and why it is essential in…
Discover the importance of naming life insurance beneficiaries and what happens when none are specified. Learn how the benefits are distributed, why it matters, and the key considerations in estate planning. Secure your family’s financial future with our comprehensive guide. Introduction: The Crucial Connection Between Life Insurance and Beneficiaries (Life Insurance Beneficiaries) In the complex…
Insurance: In the vast and unpredictable world of maritime trade, one institution has stood the test of time, providing insurance solutions for centuries. Established in the late 17th century, Lloyd’s of London holds the distinction of being the oldest insurance market specializing in marine coverage. With a rich history and a reputation for excellence, Lloyd’s…
Introduction to the Insurance Ombudsman Insurance Ombudsman plays a crucial role in the insurance industry, acting as an independent body that helps resolve disputes between policyholders and insurance companies. The primary objective of the Insurance Ombudsman is to provide a fair and impartial platform for policyholders to address their grievances in a timely manner. Roles…
