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Insurance

Contract of adhesion

In finance, there exists a type of contract known as an insurance contract. This specific agreement holds a crucial factor that we must pay attention to - the wording. Any vague or unclear language within this contract will be interpreted in a way that is not in favor of the drafter, in this case, the insurer. It is important to understand this concept in order to fully grasp the implications of insurance contracts.

Premium option

When a person enters into an agreement with an insurance company, they make regular payments, also known as premiums. These premiums are made in order to receive a lump sum ...

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Umbrella policy

As a knowledgeable professor in finance, it is crucial to understand the concept of excess insurance coverage. This type of coverage provides protection for losses that exce...

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Pre-loss activities

Realizing the importance of mitigating potential financial losses, proactive strategies are put in place to prevent such occurrences. These methods primarily aim to reduce t...

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Claims-made policy

Insurance is a crucial aspect in the world of finance, and one particular type that holds significant value is claims-made insurance. This type of insurance offers coverage ...

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