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What does it mean when insurance is retroactive?

Retroactive Insurance — insurance purchased to cover a loss after it has occurred. For example, such insurance may cover incurred but not reported (IBNR) ...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Do you need a degree for MI6?

While MI6 doesn’t advertise any graduate schemes or development programmes, you do need a degree to be considered for the role of intelligence officer. It...

Do you need full coverage when financing a used car?

Financing a Used Car: The Facts Whether buying used or new, the auto loan term agreements will establish how many years you’ll pay a lender until you’re a...

What are your payments to an insurance company for a policy called?

An insurance premium is the amount of money an individual or business must pay for an insurance policy. Insurance premiums are paid for policies that cove...

How much should I expect to pay for condo insurance?

How much is the average cost of condo insurance? On average, expect to pay $30-$50 per month or $400 to $600 per year depending on many factors like locat...

Which insurance covers risk in sea voyage?

A voyage policy is marine insurance coverage for risks to a ship’s cargo during a specific voyage. Unlike most insurance policies it is not time-based but...

What is an example of peril?

In insurance, “peril” is an event that causes damage to your home or property and consequently, results in financial loss. Some examples of perils include...

How did technology change the Industrial Revolution?

The technological changes included the following: (1) the use of new basic materials, chiefly iron and steel, (2) the use of new energy sources, including...

Does car insurance cover engine damage due to flooding?

Comprehensive coverage protects you from hazards that are outside of your control. Just like the interior of your car, if your engine gets flooded during ...

Do I have to use the body shop my insurance company recommends?

Do you have to use the body shop the insurance company recommends? No, you don’t have to use the body shop the insurance company recommends. Your car acci...