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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.

Beneficiary

A beneficiary, in the realm of finance, refers to an individual who is entitled to receive benefits from a policy in the event of the policyholder's death or upon the policy...

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Exclusive agent

A captive agent is an individual who exclusively represents a single insurance company and is bound by a contract not to submit business to any other company unless it has be...

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Risk transfer

In the world of finance, there exists a risk management technique known as risk transfer. This involves one party, known as the transferor, paying another party, known as th...

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Retrocession

- One crucial aspect of maintaining financial stability as a reinsurer is through the purchase of reinsurance. This is a form of insurance that provides protection to reinsu...

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