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Negative act

Negligence refers to the failure of an individual to fulfill their obligations, resulting in harm or loss to another party. It can involve the failure to perform a required action or the omission of an expected duty. This can be seen as a breach of duty, which can have legal consequences. In the world of finance, negligence can have serious implications and it is important to always fulfill one's duties and responsibilities.

Salvage

When an insurer pays a claim, they may take over damaged property in order to minimize their loss. This is known as salvage. Insurers have salvage rights over property they ...

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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 bus...

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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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Estate taxes

In finance, we often encounter the term "property taxes." This refers to the taxes paid by the policyholder on their fixed assets, such as buildings, land, plant and machine...

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