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Insurance

Business interruption insurance

As a business owner, you may have heard of the term "business interruption insurance". This type of coverage provides reimbursement for lost profits and fixed expenses during the time your business is closed for restoration due to physical damage from a covered peril, such as a fire. Additionally, this insurance may also cover financial losses if civil authorities restrict access to your business premises after a disaster, preventing customers from reaching you. Keep in mind, the coverage may have a waiting period and can last for several weeks or longer, depending on your policy.

Indemnify

The primary purpose of insurance is to indemnify the insured against any financial loss caused by an unexpected event. In simpler terms, insurance aims to restore the insure...

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Policy Bonuses

Participating policies offer policyholders the opportunity to receive a portion of the company's profits through bonuses. These bonuses are typically divided into two types ...

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Lifetime maximum

Insurance plans often have a limit that applies to all benefits. This limit, also known as the maximum, can have the potential to be restored over time. This means that the ...

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Precertification

Prior authorization is a crucial cost-containment strategy in which non-emergency medical services must be approved before treatment can be provided. This helps control healt...

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