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Insurance

Business interruption insurance

As a business owner, you may have heard of the term "business interruption insurance". This type of coverage provides reimbursement for lost profits and fixed expenses during the time your business is closed for restoration due to physical damage from a covered peril, such as a fire. Additionally, this insurance may also cover financial losses if civil authorities restrict access to your business premises after a disaster, preventing customers from reaching you. Keep in mind, the coverage may have a waiting period and can last for several weeks or longer, depending on your policy.

Bailment

When an individual entrusts their personal property to someone else, it is known as a bailment. This can occur in various scenarios, such as when you leave your car at a val...

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Loss

A depreciation refers to the decrease in the worth or significance of a property, or the responsibility for any legal obligations. It is a common term used in the realm of f...

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State-mandated benefits

In the world of finance, it is crucial to understand the concept of employee benefits, which are mandated by the state to be provided by employers. These benefits, such as h...

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Employee stock ownership plans (ESOPS)

Welcome to our discussion on deferred profit-sharing plans, a popular investment option for many employees. These plans involve investing in the stock of your employer, allo...

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