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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.

Pair-and-set clause

Insurance companies often use a method called "pair and set" valuation to determine the amount of compensation for lost items. This approach takes into account the differenc...

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Insurance plan value

In the realm of insurance, the plan value refers to the desired amount for which an individual seeks coverage through a policy. This value is determined by the policyholder ...

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Robbery

The acquisition of property through force, the threat of force, or violence is known as theft. This illegal act involves taking possession of another person's property witho...

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Annuity Certain

An annuity is a type of insurance contract that guarantees a fixed stream of income for a specified period of time. This payment is made regardless of whether the insured is...

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