InsuranceTerm insurance Principal Declaration Hull insurance Death Benefit Excess of loss reinsurance
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 be traced back to the original cause. This is an important concept to understand in the world of finance and insurance, as it helps determine coverage and claim eligibility. Essentially, it is the fundamental principle behind insurance protection. So remember, an unbroken chain of events can lead to a covered loss.
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