by Ekrem Duman | Jun 3, 2026 | Insurance, Insurance Regulation & Compliance
⚡ TL;DRIFRS 17 is the global accounting standard for insurance contracts, replacing the patchwork of national rules under IFRS 4. It requires insurers to measure contracts using current estimates of future cash flows, discounting, a risk adjustment, and a contractual...
by Ekrem Duman | Jun 3, 2026 | Insurance, Insurance Regulation & Compliance
⚡ TL;DRInsurance is among the most heavily regulated industries because insurers hold policyholders’ money for years against future promises, and a failure can harm thousands of people at once. Regulation focuses on solvency (can the insurer pay claims?),...
by Ekrem Duman | Jun 3, 2026 | Commercial & Business Insurance, Insurance
⚡ TL;DRKey-person insurance protects a business against the financial damage of losing an irreplaceable owner or employee, while buy-sell agreements funded by life insurance ensure ownership transfers smoothly when an owner dies or leaves. Together they safeguard...
by Ekrem Duman | Jun 3, 2026 | Commercial & Business Insurance, Insurance
⚡ TL;DRWorkers’ compensation is a mandatory insurance system that pays employees’ medical costs and lost wages for work-related injuries, regardless of fault, in exchange for limiting employers’ lawsuit exposure. This ‘grand bargain’...
by Ekrem Duman | Jun 3, 2026 | Commercial & Business Insurance, Insurance
⚡ TL;DRCyber insurance protects a business against the financial fallout of data breaches, ransomware, and other digital attacks. It splits into first-party coverage (your own breach-response, lost income, and ransom costs) and third-party coverage (lawsuits,...
by Ekrem Duman | Jun 3, 2026 | Commercial & Business Insurance, Insurance
⚡ TL;DRDirectors and officers (D&O) insurance protects a company’s leaders from personal liability for decisions made in their roles. It covers legal defense and settlements when directors or officers are sued for alleged mismanagement, breach of duty, or...
