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Insurance - Coggle Diagram

- - - - Brazil still doesn't have a fully convertible currency
  - - - The Greek debt crisis was huge; 2500 to 800
  - - - The George Floyd riot
  - - - Philip Morrisons International Tobacco Company
  - - - Boris Johnson vs Corbyn
  - - - South Africa moves a step closer to land exploration without payments
  - - - Russian hackers have target Ukraine for years
- - - - Multiple insurers
    - - The insured party pays separate premium to each insurer based on their respective shares
    - - The insured party and the coinsurer bear proportion of the claim depending on their percentages/coinsurance obligations.
    - - Sharing
    - - Stabilize financial position, manage risk exposure, ensure it can cover unforeseen losses, underwrite policies with higher coverage limits
  - - - Transfer
    - - Typically 2 ; primary insurer and reinsurer
    - - The insured party pays a respective premium to each insurer involved based on their respective share of risk
    - - Primary insurer first pays up to the retention limit then the reinsurer reimburses the primary insures according to its share
    - - Sharing/Polling resources, collectively insurers can assume larger risks
- - - - Third Party Fire & Theft (TPFT)
      - Comprehensive
      - Third Party Only (TPO)
  - - - Coverage for physical assets
    - - Protection from claims and lawsuits
        
        Professional indemnity
        
        Public Liability
        
        Products Liability
        
        Employer's Liability
    - - Insurance of intangibles/financial losses related to income, revenue or value
        
        Fidelity guarantee
        
        legal expenses
        
        Money insurance
    - - Provides coverage for employees who suffer work-related injuries or illnesses
    - - Protects against claims arising from errors, negligence or failure to deliver professional services as promised.
- - - - Ensures that insurance companies have enough financial resources to cover claims
    - - Monitoring the financial health and stability of insurance compromise. Set capital & solvency requirements to ensure they have funds. They conduct financial examinations, analyse financial reports and monitor risk management practices and address
    - - Protects the interests of policy holders ad ensure they are fairly treated. Ensured transparency, fair pricing clear policy terms and adequate coverage
    - - Oversees the conduct of insurance companies. prevents anti-competitive practices, deceptive marketing and unfair claims practices. Monitor underwriting practices, claims handling procedure, sales practices and market behavior to ensure fair treatment for policyholders and maintain market integrity