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Insurance

Automatic treaty

Reinsurance is a crucial concept in the world of finance. It refers to a contractual agreement between a ceding company and a reinsurer, where the former agrees to transfer a portion of its business to the latter. This exchange is based on predetermined terms and conditions, and helps mitigate risk for the ceding company by distributing it to the reinsurer. This is just one example of the intricate and important concepts that make up the world of finance.

Freight

Freight is the cost paid for the shipment of goods. This term is often used in the context of marine insurance, where vessel owners purchase freight insurance to protect aga...

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Ceding company

In the world of finance, we often come across the term "insurer". This refers to a primary insurer, who assumes a portion of risk under the insurance policies they have acce...

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Risk retention

Risk management involves making strategic decisions on how to handle risk. One approach is to bear the consequences of risk, rather than trying to avoid or transfer it. This...

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Pre-loss activities

Realizing the importance of mitigating potential financial losses, proactive strategies are put in place to prevent such occurrences. These methods primarily aim to reduce t...

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