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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.

Kidnap/ransom insurance

As students of finance, it's important to familiarize ourselves with the concept of coverage for ransom and extortion payments, along with related expenses. This type of ins...

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Experience

A record of losses, also known as a loss register, is a crucial tool in the world of finance. It is a comprehensive log that tracks all financial losses incurred by a compan...

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Equal shares

In the world of insurance, there exists a method of apportionment known as pro rata. This method involves the distribution of a loss among multiple insurers who have provide...

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Weather insurance

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Incurred but not reported losses (IBNR)