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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.

Dynamic risks

One of the fundamental concepts in finance is the idea of risk. It refers to the uncertainties that arise due to changes in the world around us. Whether these risks are pure...

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Expediting expenses

When an insurer agrees to cover the cost of expediting the repair of machinery, they are agreeing to cover any reasonable additional expenses. This can include costs for ove...

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Cost-to-repair basis

When we talk about replacement cost, we refer to the expenses involved in replacing a property after a loss, but not necessarily with the same materials and labor. This is a...

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Primary Beneficiary

Life insurance is a crucial financial tool that provides a designated beneficiary with policy benefits upon the insured's death. This beneficiary, chosen by the insured, is ...

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