While both indemnity and insurance are ways to manage risk and avoid financial losses, what makes them different is the way they undertake risk. This article is going to focus on how indemnity and insurance work, and why they take different approaches to managing risk. What is Indemnity? According to Investopedia “Indemnity is a comprehensive form of insurance compensation for damages or loss. When the term indemnityRead more
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What is improvements and betterments insurance? “Improvements and Betterments refers to upgrades done by a business owner to a property that is rented from a landlord. According to IRMI, the International Risk Management Insitute improvements and betterments are “permanent additions or changes made to a building by a lessee at his or her own expense that may not legally be removed.” These improvements andRead more
Risk assessment and the approach you take on challenges, are two fundamental aspects of a cybersecurity plan. It may sound complicated, but it does not require any specific equipment to create a plan. You only need a few documents, trustable data about your own company, and a lot of drive from yourself and employees to put the planRead more
There is a part of the insurance industry, Insuretech, that contrary to the industry as a whole firmly says, “We embrace change.” Both In their own internal channels –blogs, websites, forums- and in their external actions. While a traditional broker may still be on the phone, Insurance technologists are ready to give fresh solutions a go. This adaptability is making insurance policies easier to manage. The reality, especially after COVID– 19 is that Insuretech has provided solutions that were not expected to surface for years to come. Although theseRead more
An Insurance Industry Debate “The insurance industry needs to increase transparency and rebuild trust” is the name of a speech given by Richard Harding at the Insurance Council of New Zealand Conference of Tower Insurance. According to his conclusion’s, and the best way for a company to rebuild trust is “with a culture of transparency.” Something very important that has been buildingRead more
