1 principle: utmost good faith binding insured and insurer

1 principle: utmost good faith binding insured and insurer. The principle of utmost good faith, also known as “uberrimae fidei,” requires both the insurer and the insured to act honestly and disclose all relevant information when entering into an insurance contract. Here’s a true-to-life example in the context of general fire insurance: Example: Scenario: John […]

Does Travel Insurance Cover Earthquakes and Tsunami?

Does Travel Insurance Cover Earthquakes and Tsunami? Does Travel Insurance Cover Earthquakes and Tsunami? Travel insurance typically covers a range of risks, including earthquakes and high-altitude sickness. For instance, if an earthquake strikes while you’re travelling, your policy may cover medical expenses, trip cancellation, and emergency evacuation However, it’s crucial to check the specific terms, as some policies exclude coverage for natural disasters in high-risk areas. High-altitude illness  Travel insurance often includes medical expenses and emergency evacuation if you fall ill during a […]

Understand tour bus liability and travel insurance

We need to understand tour bus liability and travel insurance. There are vast differences between the types of insurance. Let’s break down the differential between tour bus liability and travel insurance. **Tour Bus Liability:** – **Coverage Scope**: Specifically covers incidents that occur on the tour bus. – **Primary Focus**: Protects the tour company against claims […]

Householders protect homes with peace of mind

Householders protect homes with peace of mind Householders protect homes with peace of mind in today’s world, we should protect our homes with peace of mind by having a householder policy. Safeguarding our homes is more important than ever. Yet, many homeowners overlook the crucial step of getting householder insurance. Recent surveys reveal a startling […]

Why the hack of buying Life Insurance at a young age?

  Why the hack of buying life insurance at a young age? Why the hack of buying Life Insurance at a young age? Let’s go more in-depth with real-life examples and illustrations of why buying life insurance early is important. Here’s a detailed explanation with examples that may resonate: ### 1. **Health Advantages: Lower Premiums […]

How to underwrite luxury rosewood coffins?

How to underwrite luxury rosewood coffins? In my 23 years of navigating the world of general insurance, I’ve seen my fair share of unusual cargo. But none were quite as remarkable as the day I was called to insure a shipment of two extraordinary rosewood coffins. ### The April Fools’ Day Call—But This Was No […]

Underwriter uses old git for transporter

Underwriter uses old git for transporter The underwriter uses old git for a transporter in the dynamic world of marine insurance. Transporters face many challenges that require strategic foresight and practical solutions. From managing sensitive product information to navigating complex insurance claims, marine underwriters play a pivotal role in safeguarding goods in transit. This blog […]

Beware 1 setback of MRTA for bank housing loan

Beware 1 setback of Mortgage Reducing Term Assurance Beware 1 setback of MRTA for bank housing loan. One alternative to mortgage-reducing term assurance (MRTA) is mortgage-level term assurance (MLTA). MLTA is a whole life insurance policy that provides coverage for the full duration of the mortgage term. Unlike MRTA, the coverage amount remains constant throughout […]