If you’ve shopped for insurance or managed insurance policies, you may have come across the terms “insurance company” and “insurance carrier” used in various contexts. Sometimes they are used interchangeably, while in other cases people distinguish between them. So what exactly is the difference between an insurance company and an insurance carrier? Below is an … Read more
The SRCC cancellation clause refers to the cancellation of Strikes, Riots and Civil Commotions (SRCC) coverage in marine cargo insurance policies. This clause allows insurers to cancel SRCC coverage by providing notice to the insured. What is SRCC Coverage? SRCC stands for Strikes, Riots and Civil Commotions. It is a type of coverage included in … Read more
When shopping for dental insurance, you’ll notice plans are categorized as either “low” or “high” option. But what exactly does this mean and how does it impact your coverage and costs? Here’s an in-depth look at the key differences between low and high dental plans. Dental Plan Categories Dental plans offered through the Health Insurance … Read more
When it comes to insurance, the terms “underwriter” and “insurer” often get used interchangeably. However, they refer to two distinct roles within the insurance industry. Understanding the key differences between an underwriter and insurer is important for anyone purchasing insurance or working in the insurance sector. An Overview of Underwriters and Insurers An underwriter is … Read more
Having a record of your past insurance claims can be very useful when applying for or renewing an insurance policy. Insurance providers often take your claims history into account when deciding on policy terms and premium rates. In India, there are a few ways for policyholders to access their insurance claim history. Why Check Your … Read more
For many Filipinos, having dual coverage from a private health insurance provider like Maxicare and government health insurance PhilHealth is an optimal arrangement. This combination provides more comprehensive benefits and higher coverage limits. But can you really use both Maxicare and PhilHealth simultaneously? Let’s find out. Overview of Maxicare and PhilHealth Maxicare is one of … Read more
Interest sensitive whole life insurance is a type of permanent life insurance policy that provides lifetime protection along with a cash value account that earns interest. It combines elements of traditional whole life insurance with features that allow the policy’s cash value to grow faster when interest rates rise. Below we will explore what makes … Read more
When choosing a health insurance plan, two common options are indemnity plans and preferred provider organization (PPO) plans. Understanding how these two plan types differ is important for selecting the right coverage. Indemnity and PPO plans have distinct features when it comes to provider choice, referrals, costs, and other factors. Here is an overview of … Read more
Medicare and Social Security are two major federal government programs that provide benefits to millions of Americans. Since they are closely linked in terms of administration and eligibility, some people may wonder – are your Medicare and Social Security numbers identical? The short answer is no, Medicare and Social Security numbers are different identifiers assigned … Read more
In the insurance industry, companies authorize agents to represent them and conduct business through different types of authority. There are three main categories that these various agent authorities fall under: Express authority Implied authority Apparent authority Understanding how these insurance agent authorities work is important for both agents and consumers when entering into agreements and … Read more