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Insurance

Term

It can be for a specific period of time or for a lifetime Insurance coverage is typically provided for a defined period known as a term. This period could be for a set number of years or even for an individual's entire lifetime. It's important to understand the terms of your insurance coverage, as they determine the length of time you will be protected. This knowledge can help you make informed decisions when selecting an insurance policy.

Risk Selection

An integral aspect of the insurance industry is the process of underwriting, which involves evaluating and selecting applicants that meet the criteria set by the company. Th...

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Treaty reinsurance

Reinsurance treaties are mutually beneficial agreements between insurance companies and reinsurers. In this arrangement, both parties agree to automatically accept a certain...

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Double Cover

In the world of finance, there exists a term known as "additional sum". This term refers to an amount of money that is equivalent to the sum assured and is paid out when a c...

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Physical hazard

When we talk about material characteristics, we're referring to the properties of an object that can affect its behavior or impact its surroundings. For example, a wet or ic...

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