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A Lloyd's member is an individual who invests in and underwrites risks through a Lloyd's association. In simpler terms, they are both an investor and an underwriter. This means that they contribute capital towards insuring potential risks and also have the authority to accept or decline insurance policies. In the world of finance, a Lloyd's member plays a crucial role in the insurance industry, utilizing their knowledge and expertise to make informed decisions.

Named-perils agreement

A vital aspect of insurance contracts is the specification of covered perils. This refers to the events or risks that the insurer agrees to protect the policyholder against....

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Permanent disability

A debilitating condition that renders an individual incapable of continuing their employment for the remainder of their life. This can be caused by a variety of factors, suc...

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Concurrent causation

In the realm of insurance, there exists a legal principle known as "concurrent causation." Simply put, this doctrine states that in the event of a loss caused by two perils,...

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Frequency reduction

Risk management is a crucial aspect of finance, aimed at reducing the likelihood of unforeseen events. This is achieved through a process known as loss control, which involv...

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