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Insurance

Fidelity bond

One crucial aspect of managing finances is having a clear understanding of insurance terminology. In particular, the concept of fidelity insurance is highly relevant for businesses. This type of coverage protects companies from financial losses resulting from fraudulent actions committed by designated individuals. In essence, it provides a safeguard against the dishonest acts of employees and other specified individuals. It is imperative for businesses to have fidelity insurance in place to mitigate the risks of financial harm due to fraudulent activities.

Large-loss principle

When it comes to purchasing insurance, it is important to prioritize your coverage for serious loss exposures over less serious ones. This rule ensures that you are adequate...

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Protection and Indemnity (P&I) clause

"Let's discuss the importance of marine liability insurance for ocean-going vessels. This type of insurance provides protection against financial losses resulting from third...

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Premiums written

As a financial expert, it's crucial to understand the concept of net premiums written. This refers to the total premiums an insurer receives for all policies written within ...

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Contingent Beneficiary

In finance, we often come across the term "secondary beneficiary" or "tertiary beneficiary". These are individuals who are designated to receive the proceeds of a financial ...

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