Money and Business Blog

The business of insurance is called underwriting. The company enters into a contract (called a policy) and agrees to indemnify a group of people like you against defined losses. So it uses some heavy duty math to work out the probability of the losses being incurred. It’s called risk assessment and relies on a complicated [...]

Myth: Standard policies will pay for flood damage. Fact: None of standard insurance policies will cover any damage resulted from a flood. In case you have the need for flood coverage you should purchase it separately or include it as a weaver to your standard policy. Myth: The medical payment coverage included in the insurance [...]