Different rates for similar risks explained!
Technical Insurance

Different rates for similar risks explained!

Insurance Underwriting is a tricky business. It’s sometimes hard to explain to a client, why apparently identical risks, such as two similar cars or houses, can attract different premium rates and be subject to different conditions. The reason is actually quite simple. It all goes down to risks being similar but not necessarily identical. Let’s

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The Risk of Being Underinsured
Technical Insurance

The Risk of Being Underinsured

Underinsurance is essentially not having enough insurance to cover a property claim in the event of property theft, loss or damage. For example, if the value of your property is $200,000 and your policy covers $140,000, you will be liable for the remaining $60,000 out of pocket. It is extremely important that you properly declare

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The Risk of Being Underinsured
Technical Insurance

The Risk of Being Underinsured

What is Underinsurance? Underinsurance is essentially not having enough insurance to cover a property claim in the event of property theft, loss or damage. In these instances, by under-declaring the value of your property when buying insurance, you may suffer a severe financial loss in the event a claim must be filed. In many cases,

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