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Insurance

Primary

In the world of finance, there exists a concept known as "primary coverage," which refers to policies that have the responsibility to pay up to their limits before any other coverage applies. These policies are crucial in mitigating risk and protecting individuals and businesses from financial losses. As a knowledgeable professor in this field, I encourage you to familiarize yourself with this term and its implications for your financial well-being. Let's delve deeper into the intricacies of primary coverage and its significance in the world of finance.

Third-party administrator

An employer often appoints an administrator to oversee various tasks related to employee benefits such as managing claims. Alternatively, an external group may be hired by a...

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All-risk agreement

When discussing property or liability insurance contracts, it's important to understand that there are two types: named perils and open perils. A named perils policy only co...

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Death Benefit

Life insurance policies often include a designated beneficiary, who is entitled to receive a specific amount upon the death of the insured. This amount is known as the death...

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Commercial general liability (CGL)

Commercial General Liability (CGL) is a comprehensive policy that provides coverage for all potential liabilities faced by a business, unless specifically excluded. This pol...

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