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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.

Mine subsidence coverage

A valuable addition to a homeowners insurance plan, offered in certain states, is the mine subsidence endorsement. This coverage protects against damages to a residence re...

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Direct loss

An insurance term that refers to a loss that is a direct result of a series of connected events starting from an insured risk. In simpler terms, it means that the loss can b...

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Insurance Policy

An essential document in the world of insurance is the policy, a written agreement between the policyholder and the company outlining the terms and conditions of coverage. T...

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Insurance plan term

As a seasoned professor of finance, it's important to understand the concept of insurance plan terms. These terms represent the duration of an insurance plan, which conclude...

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