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Insurance

Combined ratio

Let's explore the concept of combined ratio, a fundamental metric in the world of finance and insurance. Essentially, it measures the percentage of each premium rupee that a property/casualty insurer spends on claims and expenses. A decrease in this ratio indicates an improvement in financial results, while an increase suggests a decline. It is worth noting that a combined ratio of over 100 signifies an underwriting loss for the insurer. Understanding this ratio is crucial for assessing an insurer's overall performance and financial health.

Endowment Plan

In the world of finance, there exists a concept known as a life insurance policy. This is a carefully crafted agreement between a policyholder and an insurance company, wher...

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Book of business

Insurance companies must have a substantial amount of capital to cover potential claims from policyholders. This is known as the insurer's book value or total amount of insu...

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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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Beneficiary

A beneficiary, in the realm of finance, refers to an individual who is entitled to receive benefits from a policy in the event of the policyholder's death or upon the policy...

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