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Insurance

Property/casualty insurance

In the vast world of insurance, there are two main sectors: property/casualty and life/health. Today, let's focus on property/casualty insurance, also known as non-life or general insurance. This type of insurance covers damage or loss of property belonging to the policyholder, as well as any legal liability for damages caused to others or their property. Common examples of property/casualty insurance include auto, homeowners, and commercial insurance. It is an essential aspect of the insurance industry and plays a crucial role in protecting individuals and businesses from financial losses.

Retrospective rating

Risk premium adjustment, a technique allowing for the adjustment of the ultimate premium for a risk, with a predetermined upper and lower limit based on the real loss experi...

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Dynamic risks

One of the fundamental concepts in finance is the idea of risk. It refers to the uncertainties that arise due to changes in the world around us. Whether these risks are pure...

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Void

A policy contract may be rendered null and void if certain conditions specified within the contract are not met. For instance, if a policyholder provides false information, ...

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Last Birth Day (l.b.d)

Age at last birthday refers to the age of an individual at their most recent birthday. This term is commonly used in finance to calculate an individual's age for various pur...

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