Category: Insurance
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Boosting Insurance Premiums – Increased/Decreased Rates
On one hand, the decision to increase insurance premiums is a significant one for insurance companies, as it directly impacts their profitability, customer retention, and market competitiveness. On the other, a strategy of boosting insurance premiums while simultaneously reducing prices to capture a larger market… Read more
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The Role of Insurance Regulators in Competition and Industry Dynamics
Insurance regulation is a critical aspect of the financial services sector, designed to ensure that insurance companies operate fairly, transparently, and in a manner that protects consumers. In the UK, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) are the primary regulators… Read more
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Understanding the Spending Behaviours of Losing Insurance Companies
The phenomenon of insurance companies increasing expenditures on ostentatious or non-essential items, rather than focusing on employee welfare and financial stability, can be attributed to several interrelated factors. This discussion will explore these factors in detail, examining the motivations behind such spending patterns and their… Read more
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The Importance of Subrogation Clause in an Insurance Contract
Subrogation is a legal principle that allows an insurance company to pursue a third party that caused an insurance loss to the insured. This process enables the insurer to recover the amount it has paid out for a claim from the responsible party. The subrogation… Read more
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The Uniqueness of an insurance company’s chairman and the effect on the company should he/ she lacks a thorough and deep knowledge in the insurance industry
1. Lack of Understanding of Industry Fundamentals A chairman who lacks knowledge about insurance may not grasp fundamental concepts such as risk assessment, underwriting, and claims management. This ignorance can lead to poor decision-making regarding product offerings and pricing strategies. For instance, if the chairman… Read more
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Different Kinds of Fires Covered in an Insurance Policy
When it comes to insurance policies, particularly those related to property and home insurance, understanding the types of fires that are covered is crucial for policyholders. Fire coverage can vary significantly between different insurance providers and policies, but generally, there are several common categories of… Read more
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Risk Retention Groups (RRGs)
A Risk Retention Group (RRG) is a type of insurance company owned and controlled by its policyholders. Read more
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Challenges Associated with Energy Insurance
Energy insurance is a specialized type of insurance that covers risks associated with the energy sector, including Read more
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A Real Insurance Underwriter
How an insurance underwriter can truly embody the essence of their profession and excel in their role. Read more
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Insurance and Reinsurance Brokers: The Legal Necessity of Having a Physical Presence in the Operated Country
One of the primary reasons why insurance brokers and reinsurance brokers should have offices in the country they operate in is related to legal jurisdiction and dispute resolution. Read more
