Backdating in the insurance industry allows a policy to take effect earlier than its actual issue date. The policyholder agrees to backpay the premium as if the coverage had started on the backdated date. While it can be beneficial in certain scenarios, backdating also involves specific considerations and requirements. Let’s break it down step by … Read more
The principle of indemnity is a cornerstone of insurance, ensuring that policyholders are financially restored after a loss without profiting from it. This fundamental principle applies across various types of insurance and is designed to bring the insured back to their pre-loss financial state—not better, not worse. In this blog, we’ll delve into the concept … Read more
Trusts are a popular tool in estate planning, offering a secure and efficient way to manage and transfer assets, including residential properties. However, when protecting these assets with a residential insurance policy, the question arises: Can a trust hold such a policy? The answer is yes, but it requires careful planning and understanding of how … Read more
Being an insurance agent isn’t just about selling policies; it is about building trust of customers, solving problems, and consistently delivering value. In today’s competitive landscape, success in insurance requires more than just knowledge of rules of policies—it is demanding task, a blend of skills, dedication, and strategic thinking. Whether you’re a newcomer or a … Read more
Health insurance premiums are expected to significantly surge in New York in 2025, this will impact around 1 million people i.e. as many people as the total population of Delaware and many small business entities. Individually negotiated plan rates will rise on average by 12.7%; small group plans will rise by 8.4%. The increases resulting … Read more
Despite all the tracking chips and fancy tech, car theft remains a significant issue in the United States. There are many factors behind this but the most common in the year 2023 was TikTok trends to show how easy it was to hack certain brand’s security system. It made a few brands like KIA and Hyundai more … Read more
There is bad news for car owners from the auto insurance industry, new reports from credible sources are predicting significant increases in auto insurance will continue to rise this year. Rates across the United States are already on its peak with the rise of 24% in 2024, some states experiencing jump up to 61%. Here … Read more
Dog is the oldest and best friend of a man and still is a beloved family member of our houses. It brings joy into our everyday lives. Ensuring their well-being is our first and foremost responsibility. One way for pet owners is to safeguard their health is through pet insurance. In this article, we will … Read more
In an era of rapid advancement in technology and evolving customer needs, the insurance industry is transforming itself. As we look ahead, several key trends are shaping the future landscape of insurance. In this article we will try to get a glimpse of the future of insurance technology. 1. Technology Integration: Technology is reshaping the insurance sector. … Read more
Car insurance is financial security for every car owner. It ensures that you are reimbursed should there be expenses incurred through using a car. Getting the right insurance has always been a long complicated process that may include searches, comparisons, and sometimes misunderstandings. Thankfully, Progressive Insurance has developed what is known as ‘Name Your Price’, … Read more