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Insurance

Fronting

Insurance can be a complex world, with various terms and concepts to navigate. One such term is fronting, a practice where a primary insurer issues a policy but transfers the entire risk to a reinsurer in exchange for a commission. This is common in cases where the fronting insurer is licensed to operate in a specific country, but the reinsurer is not. Typically, the reinsurer is a captive or independent insurance company that is unable to sell insurance directly in that country.

Para-med (paramedical) Examination

Life insurance companies conduct medical examinations on potential policyholders to assess their health and determine the risk associated with insuring them. This examinatio...

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Earnings multiple approach

A commonly used term in employee benefits, a group life plan provides an employee with a predetermined amount of life insurance coverage, typically one or two times their a...

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Completed operations coverage

Liability insurance covers the cost of any bodily injury or property damage caused by a completed project or job. This is a crucial protection for businesses that offer serv...

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Surety bond

In the world of finance, there exists a concept known as a surety bond. This is a legally binding agreement between three parties - the surety company, the owner or creditor...

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