Underinsurance in Fire Insurance: Meaning, Average Clause, and Real Claim Examples

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…

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Insurance Fraud Unveiled: Strengthening Financial Resilience through Proactive Measures and Exposing Ripple Effects (5 min read).

Explore the pervasive issue of Insurance Fraud, its various forms, and the staggering financial losses it incurs. Discover strategies to combat this menace and protect the integrity of insurance systems. Understanding Insurance Fraud Insurance fraud, a deceptive act aiming to exploit the insurance process, has deep-rooted historical origins. Its prevalence persists today, costing billions annually….

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