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Loss reserves

and are an important factor in determining the company?s financial stability. The insurer's financial stability is influenced by the company's estimated amount for claims, which is regularly adjusted. These estimations are recorded as a liability on the balance sheet and play a crucial role in evaluating the company's overall performance. As changes in the market and other factors can impact the company's claim payments, these estimates require periodic reassessment. Such financial terms are essential in understanding the dynamics of the insurance industry and its impact on a company's financial health.

Civil law

In the realm of finance, there exists a concept known as civil wrongs, which pertains to legal actions taken against individuals or organizations for harm caused. One such e...

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Premises

In the world of finance, the term "specified location" refers to the specific area of a property that is outlined in an insurance policy. This designated area serves as a cr...

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Aviation insurance

Commercial airlines carry property insurance for their planes and liability insurance for any negligent actions that may cause harm or damage to passengers or third parties....

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Reciprocal

A mutual insurance company is a type of insurer that is owned by its policy-holders. This means that the individuals who have insurance policies with the company are also sh...

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