Homeowners insurance typically does not cover foundation repair costs. This is because foundation damage is usually considered a “wear and tear” issue that is not sudden or accidental. However, there are some exceptions to this rule. For example, if your foundation is damaged by a covered event, such as a fire or flood, your insurance … Read more
Insurance companies may spread their risk by reinsuring with other insurance companies. A ceding insurer transfers risk to a reinsurer, typically for large or complex risks that exceed their capacity or appetite. In many jurisdictions, reinsurance is regulated to ensure the financial stability of the insurance sector and protect policyholders. Regulatory frameworks vary across countries, … Read more
.bolts Nuts and bolts Financial Stability and Credit Ratings Manulife Insurance is a well-established insurance provider with a strong financial foundation and high credit ratings. The company’s financial stability is evaluated by independent rating agencies that assess its ability to meet its financial obligations. AM Best: A+ (Excellent) Fitch: AA- (Very Strong) S&P Global: A … Read more
Pet insurance can cover the cost of neutering your pet, which is a surgical procedure that removes the reproductive organs. Neutering can help prevent certain health problems and behaviors, such as aggression and roaming. The cost of neutering can vary depending on the type of animal, the size of the animal, and the location of … Read more
Most private health insurance plans are required to cover preventive screenings, including colonoscopies, for adults over a certain age, typically 45 or 50. Medicare Part B also covers preventive colonoscopies as part of its routine cancer screenings. The Affordable Care Act (ACA) further expanded coverage for preventive services and eliminated cost-sharing for preventive screenings, such … Read more
Insurance is like a financial cushion that protects you against the unexpected. It’s a way to share the risk with others, so you don’t have to bear the full cost of a loss or damage. Think of it like an umbrella that shields you from the rain – only instead of water, it safeguards you … Read more
Diagnostic mammograms may not be covered by insurance due to various reasons. Firstly, these mammograms are typically recommended for women with certain risk factors or symptoms, such as a breast lump or thickening, or a family history of breast cancer. Since these mammograms are not intended for routine screening purposes, they may not be covered … Read more
Whether you should indicate single or divorced on your car insurance application depends on your current marital status. If you are legally divorced, selecting “divorced” accurately reflects your marital status. However, if you are separated but not yet legally divorced, you should typically choose “single” on the application. This is because insurance companies generally consider … Read more
Deciding whether to accept indemnity insurance involves considering factors related to potential risks and protection. If you believe there’s a significant chance of being held responsible for damages not covered by your current insurance, indemnity insurance can provide an additional layer of protection. It can safeguard you financially against legal claims alleging negligence or accidents … Read more
PMI is an insurance policy that protects mortgage lenders from losses if a borrower defaults on their home loan. When a borrower has a down payment of less than 20%, PMI is typically required by the lender. If the borrower defaults and the home goes into foreclosure, PMI reimburses the lender for any losses incurred. … Read more