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We’re here to provide you with insights into the insurance industry, with a focus on the 2019 Annual Report from the Office of the Ombudsman for Short-Term Insurance (OSTI). This report offers a comprehensive overview of the insurance landscape, highlighting key trends, challenges, and opportunities.
OSTI 2019 Annual Report
In 2019, OSTI received a total of 9,167 complaints, a slight decrease from the previous year. The majority of these complaints were related to motor vehicle insurance, followed by homeowner’s insurance. The report also provides a detailed breakdown of the types of complaints received, the outcomes, and the turnaround times for resolving these complaints.
To fully understand the depth and breadth of the report, we encourage you to explore the embedded PDF below. It’s a treasure trove of information for anyone interested in the short-term insurance industry.
Diving Deeper into Insurance
As we delve into the specifics of insurance, let’s take a moment to explore two key areas: Marine Insurance and Fuel Guarantee. These are just examples of the many types of insurance available, and they provide a glimpse into the complexity and diversity of the industry.
Marine Insurance
Marine Insurance, for instance, is a critical component for businesses involved in the import and export of goods. It provides solutions for multinational companies as well as local small, medium-sized, and large business enterprises, protecting the policy holder against loss of, or damage to, cargo. To learn more about Marine Insurance, visit this page.
Fuel Guarantee
On the other hand, the Fuel Guarantee is a unique offering designed specifically for the fuel industry. It serves as an alternative to traditional bank guarantees, targeting all fuel retail service station brands. This policy offers numerous benefits, including freeing up working capital and reducing liabilities for retailers. For a deeper understanding of the Fuel Guarantee, check out this page.
We hope this brief overview has sparked your interest in the world of insurance. Remember, the full OSTI 2019 Annual Report is just a click away, ready to provide you with a wealth of knowledge. Happy reading!