Interesting ‘historic’ article. In the same period (around 1995) I worked for a local Dutch insurance company, where I made my first 1st party cyber risk coverage, covering only reconstruction costs due to malware. This coverage proved it’s value, because the client was hit twice by a virus.
I entered into Insurance Industry in the year 2006 after retirement from Army-due to my Sincere services a lot of persons know me. once an Industrialist called me in the month of August-four to five years back as his 7.5 Lakh INR got hacked in UK but he could not do anything as in a country like India-I had also no weapons to rescue him-howsoever I rescued him from a lot of other Financial frauds within India, related to Life Insurance
What does it say about the industry when we have so many agents selling a product that they admittedly do not understand? If you sell a product without reading the policy, understanding the risk or able to explain options to the client, how is that not negligence?
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Interesting ‘historic’ article. In the same period (around 1995) I worked for a local Dutch insurance company, where I made my first 1st party cyber risk coverage, covering only reconstruction costs due to malware. This coverage proved it’s value, because the client was hit twice by a virus.
I entered into Insurance Industry in the year 2006 after retirement from Army-due to my Sincere services a lot of persons know me. once an Industrialist called me in the month of August-four to five years back as his 7.5 Lakh INR got hacked in UK but he could not do anything as in a country like India-I had also no weapons to rescue him-howsoever I rescued him from a lot of other Financial frauds within India, related to Life Insurance
What does it say about the industry when we have so many agents selling a product that they admittedly do not understand? If you sell a product without reading the policy, understanding the risk or able to explain options to the client, how is that not negligence?