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Captive agent

A captive agent is an individual who exclusively represents a single insurance company and is bound by contract to only submit business to that company. They are not allowed to work with any other insurance company unless their captive company declines the business first. This arrangement often limits the options available to the client, as the captive agent is not able to provide quotes from other companies.

Indemnify

The primary purpose of insurance is to indemnify the insured against any financial loss caused by an unexpected event. In simpler terms, insurance aims to restore the insure...

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Inland marine insurance

In the realm of insurance, there exists a type of coverage that encompasses shipments not involving ocean transport. This coverage extends to articles in transit via land an...

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Contractual liability

As an expert in finance, it is crucial to understand the concept of liability in contractual agreements. These agreements outline the responsibility of specific parties to b...

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Ordinary life insurance

Life insurance is a crucial financial tool that provides protection to loved ones after the policyholder's passing. A permanent life insurance policy offers lifelong coverag...

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