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Insurance

Pooling

of investors is known as pro rata Pro rata refers to the practice of distributing total losses among a group of investors. This is done in proportion to each investor's stake in the venture. In other words, the bigger the investment, the greater the share of the losses. This concept is commonly used in the world of finance and is essential to understand for any investor. It ensures that everyone bears a fair share of the risks and rewards. So, always keep pro rata in mind when making investment decisions.

Actual cash value

Property insurance is a type of insurance that covers the cost of replacing damaged property, taking into account the property's depreciation. This means that the insurance ...

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Product liability

Product liability is a crucial aspect of tort law that addresses the legal responsibility of manufacturers and sellers for any damages caused by their products. This include...

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Reinstatement clause

Insurance policies can often lapse due to non-payment of premiums. However, with the option of reinstatement, an individual can revive their policy and continue receiving cov...

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Quota share treaties

In the world of insurance, there exists a practice known as reinsurance. This involves multiple insurers coming together to share the risk and responsibility of covering a...

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