Insured Declared Value (IDV) is a key component of car insurance that represents the insurer’s maximum liability in case of total loss or theft. As a car ages, its IDV decreases due to depreciation. This article provides a detailed overview of how IDV decreases annually based on IRDAI’s depreciation schedule. What is IDV in Car … Read more
The American Postal Workers Union (APWU) Health Plan provides comprehensive health insurance benefits to postal workers and federal employees. While it was formerly part of the Cigna network, the APWU Health Plan now uses UnitedHealthcare as its nationwide provider network. Overview of APWU Health Plan Non-profit health insurance plan exclusively for postal employees and retirees. … Read more
Equipment floater and inland marine insurance are two types of business insurance that provide specialized coverage for portable property and movable equipment. While they have some overlaps, there are also key differences between these policies. This article provides an in-depth comparison of equipment floater vs inland marine insurance. What is Equipment Floater Insurance? Equipment floater … Read more
Lloyd’s of London has played a major role in the history and development of the insurance industry. As one of the oldest insurance markets in the world, Lloyd’s pioneered many innovations in insuring risks that helped shape the coverages we have today. The Origins of Lloyd’s in Marine Insurance The origins of Lloyd’s date back … Read more
Cigna is a major health insurance provider that offers comprehensive medical, dental, and supplemental health insurance plans. When it comes to their coverage area, a common question is: does Cigna cover all 50 states? The short answer is: no, Cigna does not currently offer health insurance plans in every state. However, they do have a … Read more
Physician assistants (PAs) have some key considerations when it comes to choosing between a preferred provider organization (PPO) and a health maintenance organization (HMO) for their health insurance. As medical professionals themselves, PAs need to weigh factors like provider networks, referrals, claim processing, and out-of-pocket costs. PPO vs HMO: Key Differences Here is a quick … Read more
American General and AIG are closely connected insurance companies, but they are not exactly the same entity. American General Life Insurance Company is a subsidiary of AIG, and many of American General’s key insurance brands are owned by AIG. However, American General operates as its own insurance company with its own products and services. The … Read more
Many companies offer basic life insurance coverage to their employees as part of their benefits package. This employer-sponsored life insurance is also referred to as group life insurance or “basic life EE.” But what exactly is basic life EE and how does it work? Below we’ll explore the key things employees should know about this … Read more
If your spouse lands a new job, you may wonder if you can switch your health insurance to their new employer’s plan. The answer is usually yes – with some caveats around timing and enrollment periods. Switching health coverage can potentially save you money on premiums and out-of-pocket costs. But the rules vary for changing … Read more
Federal Insurance Company has a long and storied history that is indeed intertwined with Chubb, one of the world’s leading property and casualty insurance companies. While they operate as separate entities today, their origins reveal an undeniable connection. The Beginnings of Federal Insurance Company Federal Insurance Company was founded in 1901 in Jersey City, New … Read more