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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.

Reinstatement clause

Insurance policies can often lapse due to non-payment of premiums. However, with the option of reinstatement, an individual can revive their policy and continue receiving cov...

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Loss exposure checklist

One valuable tool utilized by both businesses and individuals in the field of finance is risk identification. It serves as a comprehensive list of potential losses, enabling...

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Boiler and machinery insurance

Equipment Breakdown insurance, also known as Systems Breakdown insurance, is a crucial element of commercial insurance. It offers protection against damage caused by the mal...

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Friendly fire

As an expert in finance, it is crucial to understand the concept of fire confinement. This refers to the containment of a fire within a designated area such as a boiler or s...

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