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Insurance

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 reinsurers in the event of large and unexpected losses. It is a strategic risk management tool utilized by reinsurers to mitigate potential financial risks. By understanding and utilizing reinsurance effectively, reinsurers can safeguard their financial well-being and continue to provide vital support to the insurance industry.

Peril

Insurance policies can be categorized as either named-peril or all-risk. A named-peril policy provides coverage for specific risks, such as fire, windstorm, flood, or theft....

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Protection and Indemnity (P&I) clause

"Let's discuss the importance of marine liability insurance for ocean-going vessels. This type of insurance provides protection against financial losses resulting from third...

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Direct loss

An insurance term that refers to a loss that is a direct result of a series of connected events starting from an insured risk. In simpler terms, it means that the loss can b...

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Average adjusters

In the realm of marine insurance, there exists a title known as a "claims adjuster." This term refers to individuals who specialize in assessing and determining the value of...

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