|
The Importance of Security over Premium
As insurance is a “promised” merchandise, (i.e. you are buying something you may need in the future) it is important to buy it from someone you think will be able to deliver in the future. The best criteria is those who are regulated and approved by the government.
Non-regulated insurers (such as some offshore insurers) and non-regulated products must be avoided at all costs. Companies who do not manage itself properly (e.g. those picking up risks at unreasonably low premium) will not have adequate fund to pay for future claims. When these insurers collapse, it is always be those who were attracted to the cheap insurance to suffer.
|
