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Insurance

Renewal Premiums

In the realm of finance, we often come across the term 'premiums'. These are payments that are made towards an insurance policy, and they can be of different types. One type is known as 'continuous premiums'. These are payments that are made after the initial premium and are necessary for the policy to remain active. In other words, they are a condition for the continuation of the policy. Let's dive into this concept further.

Large-loss principle

When it comes to purchasing insurance, it is important to prioritize your coverage for serious loss exposures over less serious ones. This rule ensures that you are adequate...

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Independent adjuster

A loss adjuster is a professional hired by an insurance company to assess and settle claims for damages. Their role is to objectively evaluate the extent of loss and determi...

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Business pursuit

A fundamental concept in finance is that of an ongoing endeavor to generate income. This can take many forms, such as employment, entrepreneurship, or investments. Regardles...

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Offer and Acceptance

When applicants seek insurance coverage, they must sign an application and pay the initial premium. If required, they may also undergo a physical examination. The issuance o...

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